(15 April 2011, Hong Kong) The leading international sportswear brand enterprise in the PRC, China Dongxiang (Group) Co., Ltd. ("China Dongxiang" or "the Group"; stock code: 3818) today announced that the Group's retail same store sales ("SSS") of its Kappa Brand in China market in the first quarter of 2011 recorded a decrease of low single digit compared to the same period last year.
Ms. Sandrine Zerbib, CEO of China Dongxiang, said, "The Year 2011 marks a year of adjustments for China Dongxiang. The 1Q SSS performance reflects that our retailers are in the course of clearing the accumulated inventory. With an aim to enhance sales efficiency, we are offering stronger support to distributors through the provision of direct training on both management issues and the management of store fronts, as well as through review of the store portfolio in close partnership with distributors in order to reallocate resources to best-performing stores. Riding on the effort to strengthening our brand identity and supplying the market with a greater variety of products, we believe that the SSS performance of the Kappa Brand will improve after the inventory clearing process."
About China Dongxiang (Group) Co. Ltd.
China Dongxiang (Group) Co., Ltd. (HKEx: 3818) is a leading international sportswear brand enterprise in China and was successfully listed on the Main Board of the Hong Kong Stock Exchange on 10 October 2007. The Group is primarily engaged in the design, development, marketing and wholesale of branded sportswear in China. Currently, China Dongxiang owns all rights to the internationally recognized Kappa and Robe Di Kappa (RDK) Brand in China, Macau and Japan. Its products convey an active, fashionable and youthful image and are warmly welcomed by China's fast growing and high potential consumers. The Group completed the acquisition of a Japan sportswear enterprise Phenix on 1 May 2008. Phenix, the most popular ski brand in Japan with the largest market share, has gained strong recognition in the international market.
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