Chinese sportswear industry is readying for yet another round of price increases.
At its meeting conducted at the end of the fourth quarter on June 30, Li Ning company decided to raise the average retail prices of its clothing and footwear items by over 10 percent, owing to increase in cost factors. The company had six-months earlier increased the average prices by 8 percent.
Following Li Ning's lead, other companies including the Anta Corporation are gearing to increase the prices as per the prevailing situation at the end of the fourth quarter of 2010-11.
The increase in prices of sportswear items by Nike at the end of March 2011 was followed by a number of local Chinese brands which hiked the prices of their goods.
In fact, prices of some sportswear items have increased more than 10 percent this year. Even after two rounds of consecutive increase in price, sportswear brands have been increasing the prices of their products.
Fibre2fashion News Desk - China
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