Jinli Group Holdings Ltd (金麗集團控股), which runs two apparel and shoe brands in China, plans to expand its sales channels in China to more than 1,000 outlets in three years, a company official said yesterday.
The company is ready to list on the Taiwan Stock Exchange (TWSE) on Dec. 20, with the price of its initial public offering expected to be set at NT$60 per share.
“We hope to raise funding via the primary listing on Taiwan’s stock market for further expansion in China,” group chairman Chong Chun-lung (莊春龍) told a media briefing.
The group may also raise brand awareness in Taiwan and recruit more Taiwanese fashion designers after listing on the TWSE, Chong added.
Jinli Group runs two medium-priced casual clothing and shoe brands — G-Apple and e.t — with various agents in charge of sales at 774 outlets in Beijing and 17 Chinese provinces, mainly in third and fourth-tier cities.
The group plans to boost the channel for both brands to more than 1,000 outlets in three years, mainly in the southwestern and eastern regions of China, Chong said.
For next year, the group expects its sales channel to reach 854 outlets after it launches 80 new outlets and promotes the two brands in two new provinces, Chong added.
For the first nine months of the year, the group posted a net profit of NT$643.35 million (US$22.1 million), or NT$6.26 per share — equivalent to about 85 percent of its full-year net income of NT$750.76 million last year, group financial data showed.