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Taiwan's Everest Textile aims 15-20% growth in 2014
12
Dec '13
Everest Textile Co. Ltd., the Taiwan-based vertically integrated textile manufacturer, is aiming to increase its revenue by 15 to 20 percent in 2014 compared to this year, the company’s president Roger Yeh told presspersons, Taipei Times reported.
 
The expected growth in revenue is due to the increased sales of knitted fabrics to its clients, including Lululemon Athletica Inc., says the report.
 
According to Roger Yeh, knitted fabrics would contribute about 25 percent to the company’s revenue next year, compared to about 10 percent this year.
 
In the second-half of 2013, Lululemon was Everest’s fourth-largest client, and it might replace Columbia Sportswear Co for the third spot next year, the company said. At present, Nike Inc is Everest’s biggest customer, followed by North Face Inc.
 
From January to November 2013, Everest’s total revenue increased by 1.62 percent year-on-year to NT$ 6.92 billion.
 
However, the company’s net profit for the first nine months of this year, for which figures are available, declined by 75.3 percent year-on-year to NT$ 144.33 million, mainly due to insurance claims of NT$ 450 million last year after a fire incident in March 2010.
 
The operating profit increased by 12.69 percent year-on-year to NT$ 121.89 million during the nine month period, according to the company.
 
To increase its profit, the company launched its own brand ‘EverSmile’ in December last year, targeting middle-class and wealthy customers.
 
Mr. Yeh expects the brand to contribute about 1.5 percent to Everest’s revenue this year, the report said.
 
The company is planning to nearly double its EverSmile stores by the end of next year from the current 54 stores.
 

Fibre2fashion News Desk - India

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