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China's apparel industry inventory at 'alarming' level
29
May '13
The inventory lying with the Chinese domestic apparel industries has reached an ‘alarming’ level, requiring the companies to deal with excessive goods. However, in the first quarter of 2013, de-stocking of Chinese apparel industry was at a stalemate.
 
Baoxiniao earned 553 million yuan in the first quarter of 2013, but its inventory was as high as 815 million yuan, an increase of 273 million yuan year-on-year.
 
Similarly, the inventory of outdoor sports brand Pathfinder rose from 164 million yuan at the end of 2012 to 254 million yuan at the end of March 2013. The company’s turnover ratio changed from 3.18 times to 0.65 times.
 
During January-March 2013 period, the inventory of mass fashion brand Souyute increased to a record high of 463 million yuan.
 
Younger, termed as the “inventory king” of apparel industry, saw its stocks at the end of first quarter touching 23.2 billion yuan, slightly lower from the inventory at the end of last year.
 
According to the Annual Statistics Reports 2012, released by listed textile and garment enterprises, total inventories of the Chinese apparel industry at the end of last year were more than 67 billion yuan.
 
If the inventories of other companies like Li Ning and Olympic that are listed in overseas markets as well as that of non-public companies are added, the total inventory of the Chinese clothing industry would cross 400 billion yuan, according to conservative estimates.
 

Fibre2fashion News Desk - China

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