Home / Knowledge / News / Apparel/Garments / Exceed's founder happy with third quarter performance
Exceed's founder happy with third quarter performance
Nov '11
Exceed Company Ltd. the owner and operator of "Xidelong" brand - one of the leading domestic sportswear brands in China, released its unaudited financial results for the third quarter ended September 30, 2011.

Shuipan Lin, Exceed's founder, Chairman and CEO, commented, "We are pleased to report strong results for the third quarter with revenues exceeding our guidance. Continued healthy demand for our products, coupled with our effective marketing campaigns resulted in sales increases across our product categories.

Our performance was also bolstered by the continuing expansion of our distribution network, especially in third-tier and select second tier-cities, where market demand for our lifestyle brand products remains strong. With a focus on fashionable and functional products geared towards value-conscious shoppers, we remain well positioned to compete in the market for sportswear in China.

"Our outlook for the remainder of 2011 remains positive, and we are continuing to move forward with the execution of our new operational plan announced earlier this year. This includes the construction of new staff quarters and the expansion of our internal production capacity over the mid-term in response to the changing dynamics within the domestic sportswear market. Looking ahead, we remain focused on delivering increasing value to our shareholders, namely through the execution of our US$10 million share buyback program currently in progress, and by maintaining our focus on transparency and disclosure.

As such, our independent auditor Crowe Horwath LLP conducted an audit on our cash and bank balances during the third quarter, their report is attached. We believe our healthy financial position and our continuing strong operational performance further bolster our position as a leading domestic sportswear brand operator in China."

Revenue. Revenue increased by 28.0%, from RMB832.4 million for the third quarter 2010 to RMB1,065.7 million (US$167.1 million) for the third quarter 2011. The increase in revenue was primarily driven by the increased demand for our products and the continuous expansion of the Xidelong retail network by our distributors in China.

The increase in the demand for our products was attributable to the continued success of our advertising and promotional campaign, the successful launch of new series of apparel and footwear products, and the overall economic growth in China. The number of Xidelong retail locations, which are operated by our distributors and authorized third party retailers, increased by 530, from 4,194 as of September 30, 2010 to 4,724 as of September 30, 2011.

Footwear. Footwear accounted for 47.8% of revenue for the third quarter 2011, and principally includes nine categories of footwear: running footwear, leisure footwear, basketball footwear, skateboarding footwear, canvas footwear, tennis footwear, outdoor footwear, vintage footwear and cross-training footwear.

Must ReadView All

Courtesy: Li & Fung

Textiles | On 29th Mar 2017

Li & Fung introduces new 3-year plan 2017-2019

Li & Fung Limited has outlined its next Three-Year Plan (2017-2019)...

Courtesy: Carrington

Apparel/Garments | On 29th Mar 2017

Carrington Workwear signs JV with TMG Textiles

Carrington Workwear, one of the largest producers of workwear fabrics ...

Apparel/Garments | On 29th Mar 2017

Jabong launches Aeropostale on its platform

Jabong has added leading American high-street fashionwear brand,...

Interviews View All

Abhimanyu Singh Rathore & Barbara Anna Kosiorek

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Igor Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Subscribe today and get the latest News update in your mail box.
Advanced Search