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Guangdong Silk-Tex sets high aims for 2015
21
Mar '12
Guangdong Silk-Tex Corporation Group, a large-scale Chinese enterprise mainly engaged in the production and trading of cocoons, silk, silk fabric and garments, has set a target to achieve 52 billion Yuan in annual revenue by 2015, up from its total earnings of 32 billion Yuan in 2011.

The company also aims to achieve US$ 6.5 billion in foreign trade by 2015, compared to its foreign trade worth US$ 5 billion posted last year, Silk-Tex Chairman Cai Gaosheng announced at a ceremony held to celebrate the firm's 60th anniversary.

The Group modified its business strategy after the global economic downturn of 2008 affected its export-oriented business.

Since then, the company has improved its ties with well-known global retailers like Target, Otto, Wal-mart and Cater's. In 2011, Silk-Tex's trade with Target alone touched US$ 80 million.

The company now has an international marketing network spread across the US, Spain, Japan and the UK. It is also expanding its network in Russia and emerging markets in Eastern Europe.

In the Chinese domestic market, Guangdong Silk-Tex has established 250 special outlets or counters offering its garment brands. This has led to an increase in its local sales and the firm registered 350 million Yuan in domestic earnings last year.

Fibre2fashion News Desk - China

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