Home / Knowledge / News / Apparel/Garments / Leading garment manufacturer plans to open 100 stores
Leading garment manufacturer plans to open 100 stores
30
Mar '10
China Ting Group Holdings Limited a large scale vertically integrated garment manufacturer, exporter and retailer, announced its annual results for the year ended 31 December 2009.

In 2009, despite the continued volatile global economy and slow recovery of the US and European market and consumer confidence, the Group achieved satisfactory results with a revenue of HK$ 2,091 million. The Group's revenue declined slightly, but the Group's gross profit margin increased by approximately 2.6% to approximately 34.5%, as compared with 2008, as a result of strong management, tighter cost control and stable vertical production system.

During the period, the Group's net profit increased by 31.6 % year on year to HK$ 382.6 million. Basic earnings per share for the year ended 31 December 2009 amounted to 18.00 HK cents. In view of the encouraging results, the Board of Directors proposed the payments of a final dividend of 3.25 HK cents per share and special dividend of HK$ 2.01 cents. Dividend payout remained 70%.

Mr. Ting Hung Yi, Chief Executive Officer of China Ting Group Holdings Limited, said, "Faced with an ever changing international market conditions, the Group continues to focus on product and technological innovation, quality improvement, product development and diversification and increased productivity to maintain its edge over its competitors in servicing our customers."

The Group's focus continues to be on its Original Equipment Manufacturing (''OEM'') and Original Design Manufacturing (ODM) businesses, both of which remained strong in 2009. Through the efforts in exploring new markets, new customers and new opportunities to cooperate with key players in the international markets, the Group achieved a total revenue of HK$ 1,755.7 million, representing 84% of the Group's total revenue for the year.

In the second half of 2009, the Group cooperated with Bernard Chaus Inc. in the United States, by way of a long-term exclusive supply agreement relating to garment and apparel items manufactured in Asia. The agreement is for a term of 10 years. The Directors believe that such business collaboration is beneficial to the Group's business. The Group's strong financial standing and vertically integrated production systems will enable Bernard Chaus Inc. to focus on the design and international marketing, whilst the Group provides the manufacturing and design support solutions. This business collaboration is currently moving forward successfully.

The wool business of the Group is in operation and is intended to fully utilise the production capacity of the Group during the third quarter of each year. The Group expects to increase our business activities in this sector. With the vertical production systems and in partnership with its Italian business associates, the Group expects to increase its wool business where there is a demand for real Italian quality at affordable prices.

As for the brand retail business, the Group's sales network in China included 445 retail outlets nationally with total revenue of HK$ 335.3 million and a gross profit margin of approximately 65.6%. Such results were achieved through a better control on production planning and inventory control which resulted in short lead time to sales. The Group also focuses on the provision of intensive staff training programs, and was selective in store opening with better and prime locations.

Leveraging the Group's international design teams from the US, Europe and Asia, the Group has diversified from OEM to ODM which emphasised on smooth integration on design, production and sales-support services to the customers.

Mr. Ting concluded, "Looking forward, we plans to open 100 stores in 2010, including larger image and flagship stores in prime locations and explore significant market share of China's retail business with an vision of expanding internationally."

China Ting Group Holdings Limited


Must ReadView All

Indian govt approves special package for leather, footwear

Textiles | On 16th Dec 2017

Indian govt approves special package for leather, footwear

The Union Cabinet chaired by PM Narendra Modi has approved a special...

EU parliament resolution calls for Cambodia sanctions

Apparel/Garments | On 16th Dec 2017

EU parliament resolution calls for Cambodia sanctions

Following the ongoing crackdown in Cambodia on the opposition and...

Affordable prices to be hit if US pulls out of NAFTA: NRF

Apparel/Garments | On 16th Dec 2017

Affordable prices to be hit if US pulls out of NAFTA: NRF

US retailers’ ability to offer consumers quality products at...

Interviews View All

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Hardik Sanghvi

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

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Urmil Arya

Sushila International, a well established textile organisation established ...

Eric Scholler
Groz-Beckert

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

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Johan Berlin
InvestKonsult Sweden AB

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Tony Ward
Tony Ward

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

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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

December 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


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