 Chinese sportswear maker Exceed Company Ltd., which got itself listed in the bourses of the US this year, is working with a number of foreign brands in discussion of acquisition or cooperation.
The Group President and CEO Mr. Lin Shui Pan, divulged that executives of the company are looking for reaching some agreements with a number of high-end European and American brands to be sold in China.
Lin said that the company's brand "Xidelong" produces moderate-priced sportswear, shoes and ancillary products in China, the company will undertake expansion in China by raising funds in the United States.
The company plans to increase add 2,200 franchisee stores by 2011 to the current existing store count of 3,400 stores. All of newly added brands will be sold in franchised stores.
After some U.S brands, including Sharper Image, Linen’s & Things, and Eddie Bauer, filed for bankruptcy protection last year, they have been up for sale.
Lin said that the 2008 profit of Exceed stood at $24 million and that the net profit growth of the company is expected to increase by at least 30 percent each year in the next three to five years.
Exceed Company Ltd. designs, develops and engages in wholesale of footwear, apparel and accessories under its own brand, 'Xidelong'. It is one of the leading domestic sports and leisurewear brands in China in terms of market share by sales revenue.
It has established a market leading position as one of the top five Chinese sportswear brands. Exceed has three principal categories of products: footwear, apparel and accessories.
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