Home / Knowledge / News / Apparel/Garments / Sales skyrocket at Chinese garment retailer Ever-Glory
Sales skyrocket at Chinese garment retailer Ever-Glory
Mar '12
Ever-Glory International Group Inc, a leading apparel supply chain manager and retailer based in China, reported its financial results for its fiscal year ended December 31, 2011.

During the fiscal year ended December 31, 2011, net sales increased 60.9% to $215.8 million from $134.1 million in 2010. The increase was attributable to increased sales in both Ever-Glory's retail and wholesale businesses.

In 2011, retail sales from LA GO GO, the Company's branded retail division, increased 82.7% to $53.5 million, compared to $29.3 million in 2010. This increase was primarily due to the increase in new stores opened and same store sales. Ever-Glory had 467 LA GO GO stores as of December 31, 2011, compared to 293 LA GO GO stores at December 31, 2010. Currently, there are LA GO GO stores in more than 20 provinces in China.

In 2011, sales generated from the Company's wholesale business increased 54.7% to $162.2 million, compared to $104.8 million in 2010. This increase was primarily attributable to increased sales in the PRC, the United Kingdom and the United States. The increased sales in the wholesale segment were primarily due to the following factors:

(i) The progressive adjustment of the Company's wholesale client and product portfolio has resulted in an increase in wholesale orders;
(ii) In response to the global economic uncertainty, in mid-2010 we adjusted our sales strategy to develop more wholesale business in China.
(iii) Increased production capacity thanks to continued expansion of the Company's outsourcing base to Vietnam and Cambodia starting from the third quarter of 2010.

"We're very pleased with the significant progress we made in 2011, as sales in both our retail and wholesale segments continued to increase," commented by Mr. Edward Yihua Kang, Chairman of the Board and Chief Executive Officer of Ever-Glory.

"We are especially encouraged by achieving the objectives of LA GO GO store expansion. As of December 31, 2011, we had 467 LA GO GO stores in China; we surpassed our goal of opening an additional 80 to 100 new stores in 2011! We had 293 stores at the end of 2010."

"For 2012 , we see our basic strategies of retail business as unchanged, we will continue to develop LA GO GO through perfecting design styles, improving store management efficiency and opening more stores in desired locations," continued Mr. Kang. "We are confident that, continuing to pursue these measures, we can enhance same-store sales, expand LA GO GO's market penetration and increase its brand position in China."

In 2011, gross profit in Every-Glory's retail business increased 81.6% to $18.3 million from $10.1 million in 2010. Gross margin for the retail business slightly decreased to 34.1% in 2011 compared to 34.3% in 2010.

In 2011, gross profit in Every-Glory's wholesale business increased 63.2% to $26.3 million from $16.1 million in 2010. Gross margin for the wholesale business increased to 16.2% in 2011 compared to 15.4% in 2010. The increase in gross margin was primarily due to lower outsourced manufacturing costs.

Must ReadView All

Apparel/Garments | On 27th Jun 2017

Vietnam to build fashion, textile, trading centres

Vietnam's Ho Chi Minh City will build large centres for designing...

Textiles | On 27th Jun 2017

Barcelona’s Unitin develops recycled Indigo yarns

Unitin, a trademark of Industrias Morera SA and a leading textile...

Information Technology | On 27th Jun 2017

ThreadSol to bring fabric solutions to Thailand

ThreadSol, an enterprise material management provider for the sewn...

Interviews View All

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Kaizad Hansotia

Competition is the best thing that can happen to a startup

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Tony Ward
Tony Ward

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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


news category

Related Categories:
July 2017

July 2017

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


Browse Our Archives


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search