The apparel industry in China is facing huge pile up of inventories, which is enough to last for few years.
The listed garment companies in China held total inventory worth 70.37 billion yuan as on September 30, 2012. The clothing stock was enough to last for three years.
According to data, the total inventory of six domestic sports brands - Li Ning, Anta, 361°, Xtep, Peak and Trends – amounted to 3.721 billion yuan, as on June 30, 2012.
By the end of the third quarter of 2012, inventory of Younger group reached a staggering amount of nearly 24 billion yuan, while the stockpile of Red Beans touched 3.978 billion yuan.
As on September 30, 2012, the Jihua Group held 3.481 billion yuan of inventory, Smith Barney Costumes held 2.199 billion yuan of stocks and Semir Costumes held 1.439 billion yuan of inventory.
Fibre2fashion News Desk - China