Reportedly, "For the past six months of this year, Lining s sales reached 1.371 billion yuan, net profit reached 129 million yuan, an increase of 65.9% over the same period last year." Lining Company Limited announced in Beijing recently. Lining will develop harder on footwear products and begin its international strategic layout in 2008.
The company also announced that 99.4% of the total turnover of Lining brand turnover increased by 32.8% to reach 1.36 billion yuan. Lining s CFO Chen Weicheng, just came from Hong Kong, introduced that the sharp rise in sales was mainly due to Lining footwear products.
Chen Weicheng told a reporter that the company plans to expand 5,100 Lining s retail spots till 2008, increase market penetration in 2nd and 3rd line cities in China, while continuing to seek cooperation with the international brands. On the occasion, if Lining s overseas sales accounts for 20%, we will launch a comprehensive international strategy formally.
Lining 's strategic alliance brand--France AIGLE will make strategic price cuts, ranging from 40% to 50%. Chen Weicheng also announced.
On June last year, Lining signed a 50-year cooperation agreement with France AIGLE, both sides decided to invest 50% to build up a Hong Kong company to use its trademark AIGLE and deal in clothing and footwear together. Because these products are imported 100% from France, prices have remained high and, therefore, we make strategic adjustments to start production localization strategy, it is expected that the average price will be lowered from 40% to 50%. Chen Weicheng said.
