The largest distributor of Nike, Adidas and other athletic and outdoor apparel and footwear in the People's Republic of China reported sales growth slowed in August from their pace through the first eight months of the year.
Pou Sheng International (Holdings) Limited reported growth in net consolidated operating revenue – total sales less sales discounts and sales returns – grew 16.1 percent to $186.4 million in August and 21.2 percent to $1.54 billion for the eight months ended Aug. 31 compared with the comparable periods in 2014. The company's net sales grew 23.9 percent in the first quarter.
Pou Sheng specializes in helping global athletic and sporting goods brands enter the Chinese market through a network of more than 6,000 owned and franchised points of sale across China, Taiwan and Hong Kong. In addition to operating mono-branded stores under license from such brands as Adidas, Asics, Columbia, Converse, Ked's, Li-Ning, Mizuno, Nike, Oakley, O'Neill, Reebok, Rockport and Sperry Top-Sider, Pou Sheng is pioneering the multi-brand store concept in mainland China. It is also seeking to rapidly expand distribution of outdoor performance brands.
While slower, Pou Sheng continues to grow much faster than its parent company Yue Yuen Industrial (Holdings) Limited, where net sales grew just 1.5 percent to $665.5 million in August.
Yue Yuen, which is the world's largest branded footwear manufacturer, reported net consolidated operating revenue reached $665.5 million in August and $5.61 billion for the eight months ended August 31, up 1.5 and 6.6 percent respectively from the comparable periods in 2014.
