Fashion Apparel Retailer I.T Limited Invested HK $300 Million To Expand Business In Mainland China

< p > Hongkong fashion < a target= "_blank" href= "http://www.91se91.com/" > dress < /a > retailer I.T Limited plans to invest HK $300 million this year in consolidating Hongkong's position while expanding the business layout of China's mainland. In July, it will set up I.T stores in Beijing, Shanghai and Tianjin. Chengdu stores are expected to open at the end of the year or early next year.

The group's biggest project this year is Beijing Galeries Lafayette old Buddha's department store, which opened in September.

< /p >

< p > < /p >.

< center > < img alt= "" width= "500" height= "341" src= "http://img2.china-ef.com/news/2013/201306070828355.jpg" / > < /center >

< p > < /p >.

< p > the Galeries Lafayette department store located in Xidan, Beijing, is a joint venture project of I.T Limited and Galeries Lafayette Group Paris Department of Lafayette department store, with an area of 5 million square feet.

According to Shen Jiawei, founder and chairman of I.T Limited, the 70% area of Beijing Galeries Lafayette's department store is Saint Laurent, Balenciaga, Bottega Veneta, Fendi, Chloe and Chloe, and the remaining 30% will sell the brand purchased by the buyer. This will increase flexibility and bring different feelings to customers.

< /p >

< p > Shen Jiawei expects to set a new benchmark for the department store model of China's Galeries Lafayette, which is based on the Beijing Lafayette store. By introducing the European characteristic business model, it will attract consumers who are afraid of entering the flagship store of big brands to expand the consumer groups.

< /p >

The 4 new I.T stores added to P will increase the number of I.T stores in mainland China to 11, with 29 I.T in the mid end leisure brands.

< /p >

< p > I.T Limited. announced the end of February 28, 2013 results for the end of February 28, 2013. The total turnover increased by 14% to HK $6 billion 543 million, gross profit increased by 8.7% to HK $3 billion 849 million 600 thousand, gross profit margin decreased by 290 basis points to 58.8% over the previous year 61.7%, net profit decreased 18.6% to 385 million Hong Kong dollars, basic earnings per share decreased by 20.5% to 0.31 Hong Kong dollars, diluted earnings per share decreased to HK $385 million.

< /p >

< p > Hongkong remains the largest market in the group. In 2012, it accounted for 56.7% of the total turnover of the group, while the mainland business increased 30.7% to HK $1 billion 865 million, accounting for 30% of the total turnover of the group. The group plans to set up sales outlets in each city, and it is expected that the mainland business will continue to grow and surpass Hongkong in the future.

< /p >