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    Industrial And Commercial East Asia Maintains BELLE International "Buy" Rating

    2007/9/24 0:00:00 10507

    BELLE

    After a telephone conference between East Asia and BELLE International (1880.HK), a report was made, pointing out that the relative valuation of the stock is attractive, maintaining a "buy" rating, with a target price of HK $11.

    Industrial and Commercial East Asia points out that BELLE currently has 8 shoe brands, a rich brand portfolio, and intends to double the number of brands by the end of next year, including men's shoes and leisure shoes brands. The company's sales network has room for expansion. As of the end of June this year, it has 4778 sales outlets and will expand 20% in the next 3 years.

    Business East Asia said that since the acquisition of sports brand last year, BELLE has a total of 16 brands, improving its consultative capacity with department stores.

    However, it announced the acquisition of the brand Fila in August this year, until 09 years will not provide obvious contributions, the reason is that it is planning to develop Fila vertical integration business, and restructure the brand's 50 sales points.

    (

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