An Li Fang Holdings: Continue To Close Shop Adjustment, Plan To Push New Brand Products.

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Like the urban beauty, another Hong Kong stock underwear retailing company, Li Fang Fang, also achieved a simultaneous increase in revenue and net profit in 2017.

The group's 2017 earnings report showed that the group realized revenue of HK $2 billion 340 million in the year ended December 31, 2017, an increase of 5.57% over the same period last year, a gross profit of HK $1 billion 825 million, an increase of 4.64% over the same period last year, and an annual profit of HK $495 million for the owner, up 403.34% from the same period last year.

Lian Fang holdings also closed some stores in 2017.

In 2017, the group continued to implement the network optimization strategy, shutting down or resetting some low benefit stores. By the end of 2017, the group operated 1925 retail outlets, with sales counters and specialized stores of 1705 and 220, respectively, and the number of retail outlets decreased by 142.

An Li Fang holdings is also promoting the expansion of multi brand and multi product lines.

The group now operates seven brands, namely flagship brand, an Li Fang, Feng Di Shi, IVU, COMFIT, Andrew, LIZA CHENG, and E-BRA.

In the high-end consumer market, the group mainly focuses on brands such as Fang Li Fang, COMFIT, and Fei Di Shi.

For middle and low end consumption

E-BRA brand is the brand of the Internet, and the brand is covered by the wholesale brand.

The group also launched some new product lines in 2017, including: "elegant series" and "light time series" of Anli Fang; FENDY's "streamer color series" and "modern series"; COMFIT's "simple comfort series" and "lucky pregnancy series"; E-BRA's "dream shadow orchid series" and "light new advocating series"; anto's "Hua Yi Qing Shu series" and "secret whispering series"; LIZA CHENG's "star embroidery series" and "fragrant love series"; IVU's "fashion underwear series" and "color vision series" and so on.

Regarding the 2018 development plan, the group said that

The latest announcement, released by the company in April 25th, said that the overall sales in the 1 quarter of 2018 increased by about 15% compared with the same period last year, due to the continued appreciation of the RMB since 2017 and the slight increase in sales from mainland China, which is the main sales channel of the group.

In the shops that operate for more than 15 months, the sales of the same store in Renminbi also increased by the number of units recorded annually.

By the end of March 2018, the total retail sales point of the group was 1908, of which the number of sales counters and specialized shops was 1683 and 225 respectively. The number of retail outlets of the group decreased by 17 compared with the end of December.

The performance report shows that in 2018, an Li Fang holdings continued to "grow and continue to close".