China-focused apparel company TOPBI International Holdings Ltd (淘帝國際控股) yesterday said it expects sales to reach NT$10 billion (US$330.1 million) per year over the next three years.
To achieve the target, the firm said it has been working on the expansion of both e-commerce platforms and physical stores.
The e-commerce business could help the company quickly gather customer feedback and improve its product portfolio, compared with physical stores, TOPBI president Chou Chih-hung (周志鴻) said at a news conference in Taipei.
The firm this month launched its mobile phone app and online shopping sites, aiming to meet consumer preferences in the Chinese market.
TOPBI said it has also partnered with major Chinese online shopping Web sites, including Taobao.com (淘寶) and Tmall.com (天貓).
The firm said revenue generated from its e-commerce sector could contribute 20 percent of its total sales before 2020.
The company has launched its first self-owned store in China’s Shanxi Province and plans to open another store in the fourth quarter of the year to raise brand recognition in China.
TOPBI has 23 agents selling mid-priced children’s apparel at 1,478 locations in China, company data showed.
TOPBI is also planning to improve its business model with a focus on a “fast-fashion” business model, which aims to reduce manufacturing time, making products available to consumers as soon as possible.
The company yesterday issued a positive outlook on sales growth for the second half of the year, as the third quarter is seen as a traditional high season in China for children’s apparel.
The firm is also likely to benefit from the recent appreciation of the yuan against the New Taiwan dollar, TOPBI chief financial officer Martin Wang (王冠華) said.
In the first half of the year, net profit dropped 12.7 percent annually from NT$503.4 million to NT$439.2 million, with earnings per share decreasing from NT$7.22 to NT$6.25, company data showed.
The company attributed the declines to the yuan’s depreciation against the NT dollar and higher advertising expenses.
TOPBI said it plans to spend between 13 percent and 15 percent of its whole-year sales on ongoing advertisement projects for this year.
From January through last month, total revenue grew 0.52 percent annually to NT$2.87 billion, company data showed.
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