China’s DoubleStar group continues to grow
According to its board of directors, DoubleStar Group Co. Ltd, one of the ten "shoe kings", as awarded by the China Leather Industry Association (CLIA), broke its own sales records in the first half year of 2002.
The figures for the end of June this year showed that in the first six months the company saw a sales income of 2.779 billion yuan ($ 336 million ) and a net profit of over 76.56 million yuan ($ 9.25 million), an increase of 12.8% and 43.2% respectively compared to the same period of last year.
Since 1992, DoubleStar has successfully launched a number of production bases throughout the country, and now has formed its own vertical structure from raw materials through to sales. With strong sales in the domestic market, earlier this year the company took over a tyre company with revenues of $122 million.
