KUALA LUMPUR: Xingquan International Sports Holding Ltd will expand its point of sales for Gertop, a leading brand in China.
The move by the China-based manufacturer of shoes and outdoor casual wear is to increase its market share in the growing latter segment in the country.
Executive Chairman, Wu Qingquan said on Tuesday, Sept 20 that Gertop has a market share of about 3.8% in China.
Gertop, which embraces an array of products from shoes and apparels to accessories such as bags, caps and socks, is currently distributed through a
network of more than 2,300 stores located across 26 provinces in China.
Wu said the company is targeting to increase another 200 to 250 Gertop point of sales each year, for the next two years, subject to the availability of
funds.
"We have enough of internally generated funds for our expansion. Even though it is currently difficult to obtain reasonable funding from the capital market
alongside borrowings, as China has tightened its lending facilities, we will not be significantly affected," he told a media briefing.
He does not see any threat from other overseas brands in China, as Gertop is relatively cheaper and having the quality to remain competitive in the
market.
Wu said the company will also expand to add production lines for shoe soles, bringing capacity to around 30 million pairs per annum to meet demand.
The move by the China-based manufacturer of shoes and outdoor casual wear is to increase its market share in the growing latter segment in the country.
Executive Chairman, Wu Qingquan said on Tuesday, Sept 20 that Gertop has a market share of about 3.8% in China.
Gertop, which embraces an array of products from shoes and apparels to accessories such as bags, caps and socks, is currently distributed through a
network of more than 2,300 stores located across 26 provinces in China.
Wu said the company is targeting to increase another 200 to 250 Gertop point of sales each year, for the next two years, subject to the availability of
funds.
"We have enough of internally generated funds for our expansion. Even though it is currently difficult to obtain reasonable funding from the capital market
alongside borrowings, as China has tightened its lending facilities, we will not be significantly affected," he told a media briefing.
He does not see any threat from other overseas brands in China, as Gertop is relatively cheaper and having the quality to remain competitive in the
market.
Wu said the company will also expand to add production lines for shoe soles, bringing capacity to around 30 million pairs per annum to meet demand.
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