Not vested. Good quality winter jackets but how often do you buy a new winter jacket. I have not bought any new winter jackets over the past few years.
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Bosideng net up 44pc as it targets all seasonsFriday, July 09, 2010
A prolonged winter and more diversified product line boosted the net profit of mainland down apparel retailer Bosideng (3998) by 44.2 percent to 1.08 billion yuan (HK$1.24 billion).
Revenue for the year to March 31
surged 34.2 percent to 5.74 billion yuan. A final dividend of 8.8 fen was declared.
About 90 million yuan of the profit came from the menswear business that it bought in May 2009. The acquisition was the group's first step to transform itself from a seasonal apparel products firm to one selling clothes for all seasons, according to chairman Gao Dekang.
The firm plans to increase the number of its menswear retail stores in the mainland to 1,100 next year from 759.
Bosideng had 5,620 outlets selling down apparel at the end of March, 42 fewer than last year as a result of the firm's "distribution channel revision." "We want to enhance our store image and optimize the retail network by opening more flagship stores, which means we may close some small stores,"said Gao.
The company plans to
raises prices by about 10 percent in the next financial year to offset higher labor and raw material costs, Gao added.
Bosideng has earmarked 500 million yuan as capital expenditure, of which 300 million yuan will go to expanding its non-seasonal clothing business, and 100 million yuan on renovating distribution channels.
It had 3.47 billion yuan cash on hand as of March 31. Bosideng said its main down apparel brand has a market share of
24.9 percent - the highest in the industry - while its four core brands account for 38 percent of the market.
The firm is looking for more acquisitions and expects its non-seasonal clothing business to contribute 30 percent of profit by March of 2013.
ELLEN WANG
http://www.thestandard.com.hk/news_deta ... 00709&fc=8
It's all about "how much you made when you were right" & "how little you lost when you were wrong"