China’s move to ease its one-child policy may help accelerate business growth in children’s clothing, TOPBI International Holdings Ltd (淘帝) told an investors’ conference yesterday.
TOPBI president Yang Peng-xu (楊鵬旭) told an investors’ conference yesterday that the development of the children’s clothing industry has lagged behind the pace of adult clothing, indicating substantial potential growth in China’s market.
The company, which owns a children’s clothing brand in China, plans to expand its sales channels to more cities in China’s Shanxi, Shaanxi and Jiangsu provinces next year, increasing its number of outlets to 1,200 from more than 1,000 outlets currently, company spokesman Martin Wang (王冠華) said.
In order to raise its brand awareness, TOPBI is scheduled to debut on the Taiwan Stock Exchange (TWSE) on Dec. 26.
The company is set to sell 7.8 million shares through the listing plan, with its first offer price tentatively set at NT$160 per share, its underwriter, Capital Securities Corp (群益金鼎證券), said.
That will leave the company with the second-highest share price in the local bourse’s trade and department store sector, trailing President Chain Store Corp’s (PCSC, 統一超商), which closed with a price of NT$205.5 yesterday.
Founded in Fuzhou City in 2004, the company designs mid-priced children clothes and sells in 15 Chinese provinces and three municipal cities.
After cutting costs and lowering inventories, TOPBI reported a net profit of NT$351 million (US$11.83 million), or NT$7.82 per share, in the first three quarters of the year.
Last year, the company recorded a net income of NT$369 million.
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