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Chinese apparel maker Septwolves to expand sales network
09
Nov '11
Fujian Septwolves Industry, mainly engaged in the manufacturing and sale of menswear under the brand name of Septwolves, is planning to expand its sales network.

The Chinese company proposes to add 1,200 new sales outlets during a period of 30 months, and thus increasing its operations area by 180,000 sq m.

The expansion programme is expected to cost a total of 2.07 billion yuan, of which the company is planning to raise up to 1.8 billion yuan through a private placement of its shares. The company intends to place a maximum of 53 million shares for private placement at a minimum price of 34.27 yuan per share.

Septwolves said the optimization of its sales network would increase its annual sales by 1.4 billion yuan, and its net profit by 279 million yuan. It expects to recover its investment in 6.95 years.

At the end of June 2011, Septwolves had 3,576 sales outlets, including 439 exclusively-owned outlets.

Fibre2fashion News Desk - China

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