OmniaLuo Inc a China-based company engaged in the business of designing, developing, marketing and distributing fine women's apparel under the brand name OMNIALUO, announced that it has opened a record 24 retail stores in March the single most successful month in terms of stores openings in OmniaLuo's operating history.
March's additional stores brings the total new store count for the first quarter up to 27; with a 2008 goal of 66 new stores in total, this record month puts the Company well ahead of its anticipated pace with nine months yet to go.
The absolute growth was also strategically directed to maximize store level net profit margins; of the 24 new stores, OmniaLuo opened 2 co-owned stores and 22 independent distributors.
The two types of stores typically achieve net profit margins of 40%-50% and 50%-55%, respectively. In contrast, company-owned stores typically achieve net profits of 20%-40%.
"Our success in March signifies not only a new Company best a full 60% increase over our prior record of 15 stores in February of 2007 but it also serves to kickstart our growth prospects for 2008 and beyond," stated Ms. Cindy Luo, Chairwoman of OmniaLuo.
"As anticipated, our January and February results reflected the typical commercial slowdown associated with the Chinese New Year.
But our commitment to infrastructure development and high-impact marketing yielded excited results in March. These results were all the more excited because we now have the platform in place to achieve similar, consistent results going forward.
We are thus extremely optimistic about our Company's future and our ability reach 250 retail stores by year end 2008," added Ms. Luo.
March's additional stores brings the total new store count for the first quarter up to 27; with a 2008 goal of 66 new stores in total, this record month puts the Company well ahead of its anticipated pace with nine months yet to go.
The absolute growth was also strategically directed to maximize store level net profit margins; of the 24 new stores, OmniaLuo opened 2 co-owned stores and 22 independent distributors.
The two types of stores typically achieve net profit margins of 40%-50% and 50%-55%, respectively. In contrast, company-owned stores typically achieve net profits of 20%-40%.
"Our success in March signifies not only a new Company best a full 60% increase over our prior record of 15 stores in February of 2007 but it also serves to kickstart our growth prospects for 2008 and beyond," stated Ms. Cindy Luo, Chairwoman of OmniaLuo.
"As anticipated, our January and February results reflected the typical commercial slowdown associated with the Chinese New Year.
But our commitment to infrastructure development and high-impact marketing yielded excited results in March. These results were all the more excited because we now have the platform in place to achieve similar, consistent results going forward.
We are thus extremely optimistic about our Company's future and our ability reach 250 retail stores by year end 2008," added Ms. Luo.
