Home / Knowledge / News / Apparel/Garments / Giordano Q3 sales up 5% on strong retail sales
Giordano Q3 sales up 5% on strong retail sales
22
Jan '14
Beating the slowdown blues, Hong Kong-based apparel retailer Giordano has reported 5 per cent growth in its sales at HK$ 1,333 million for the third quarter ended September 30, 2013, driven by strong demand from the Chinese mainland.
 
Founded in 1981 by Jimmy Lai, the company has posted sales of HK$ 1,270 million in the three months ended September 30, 2012, Giordano said in a regulatory filing. 
 
During the three month under review, the retailer witnessed a 9 per cent rise in its gross profit which stood at HK$ 802 million from HK$ 733 million in the same period a year ago. Earnings were boosted by robust demand for the casual-wear apparel from South East Asia emerging markets (Thailand and Indonesia). 
 
Despite the weak global environment, the company has maintained growth momentum for the second consecutive quarter in FY’14 as it remained committed to drive the business towards delivering consistent, competitive, profitable and responsible growth. 
 
Region wise, Giordano sales in mainland China were up 22 per cent on year-on-year basis, followed by 6 per cent in Singapore and 1 per cent in Hong Kong, while its sales in Taiwan declined 2 per cent. 
 
Giordano Ladies recorded the strongest third-quarter sales increase of 13 per cent, the company said.
 
However, global brand sales were slightly down 1 per cent than in the same period last year due to closure of shops and continue discounting in apparel market.
 
The company expects to see pick up in brand sales growth with improved marketing campaign in the fourth quarter of the current fiscal. The company aims to execute general strategy to deliver fresh merchandise, marketing programs and an upgraded store network to other markets, in particular highly competitive markets in Greater China and Singapore.
 

Fibre2fashion News Desk - India


Must ReadView All

FDI in Vietnamese textile-garment projects on the rise

Apparel/Garments | On 24th Jun 2018

FDI in Vietnamese textile-garment projects on the rise

The European Union-Vietnam Free Trade Agreement and the Comprehensive ...

Courtesy: Alizilla

Apparel/Garments | On 24th Jun 2018

Alibaba Group sets up office in Kuala Lumpur

Strengthening its commitment to Malaysia, Alibaba Group has set up an ...

Bombay Dyeing plans to wind up Indonesian JV

Textiles | On 24th Jun 2018

Bombay Dyeing plans to wind up Indonesian JV

Bombay Dyeing & Manufacturing Co Ltd plans to wind up its loss making ...

Interviews View All

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Md Hanifur Rahman
Aman Group

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

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Sonam & Paras Modi
SVA

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

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search