Sales and profits rise at Belle despite headwinds - leatherbiz: Leadin Leatherbiz

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Sales and profits rise at Belle despite headwinds

28/10/2014
China-based footwear retailer and manufacturer Belle has reported an increase in sales and profits for the first half of the year, despite a sluggish climate.
Revenues rose to 18.56 billion yuan ($3 billion) from 16.74 billion yuan while profit climbed to 2.08 billion yuan ($340 million) from 1.93 billion yuan.

However, its CEO, Sheng Baijiao, warned: "Due to rapid growth of shopping malls and e-commerce, foot traffic is drifting away from the department stores. The traffic issue is unlikely to go away in the near future."

The company in February said a move inland for manufacturing was paying dividends.

As well as selling fashion shoes under its own Belle, Teenmix, Tata, Staccato, Senda, Basto, Jipi Japa, Millie’s, Joy & Peace,15MINS and Mirabell brands, the company distributes Bata, Clarks, Hush Puppies, Mephisto, Merrell and Caterpillar shoes in China. It runs a network of 19,077 stores across mainland China.

Related stories:

High-level meeting debates EU footwear classification 12/06/2014
Chinese consumers “moving away from shoes” 30/05/2014
Belle says moving production inland works 27/02/2014
Belle keeps opening stores in China 15/01/2014
Revenues rise at China’s largest footwear retailer 29/08/2013

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