TOPBI International Holdings Ltd (淘帝國際控股), one of the three major children’s clothing brands in China, expects sales to remain strong over the next few years as China moves to ease its one-child policy.
The company, which listed on the Taiwan Stock Exchange in December last year, said its number of outlets had increased faster than expected this year to nearly 1,200 at the end of March — a goal it expected to reach at the end of the year.
EXPANSION
“The expansion could boost the company’s consolidated sales by 20 percent this year,” TOPBI president Yang Peng-xu (楊鵬旭) told an investors’ conference yesterday.
Consolidated sales totaled NT$3.8 billion (US$126.24 million) last year, a company statement showed.
For the first four months of this year, TOPBI posted NT$1.4 billion in consolidated revenue, up 23.65 percent from the same period last year, the statement showed.
Yang said the development of the children’s clothing industry has lagged behind the pace of adult wear, indicating substantial potential growth in China’s market.
China’s move to ease its one-child policy last year may further drive up the company’s sales momentum in the next few years, as the company offers clothes for babies and children aged one to 16, Yang added.
EXCLUSIVE AGENTS
TOPBI has several exclusive agents in charge of selling its products in 15 provinces and three municipal cities in China, helping the company to better control its costs and inventory.
This successful business model was critical to TOPBI posting a net profit of NT$573.81 million, or NT$12.72 per share, last year.
The company’s board has proposed distributing a cash dividend of NT$4.50 and a stock dividend of 10 percent based on last year’s earnings, subject to shareholders’ approval.
TOPBI is scheduled to hold its annual general meeting on June 19.
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