DGAP-News: KINGHERO AG: 40% sales growth in 2011
(firmenpresse) - DGAP-News: KINGHERO AG / Key word(s): Preliminary Results
KINGHERO AG: 40% sales growth in 2011
19.01.2012 / 08:03
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Munich, 19 January 2012. KINGHERO AG, the German holding company of a
fast-growing Chinese fashion company, has developed very successfully in
the financial year 2011. According to preliminary calculations, the company
achieved sales of EUR 102 million*, representing a year-on-year increase of
approx. 40%. Also, operating margins are expected to be above the 2010
levels.
The strong growth was achieved due to the rising demand of Chinese
consumers for the company's fashion products. Sales were propelled by
KINGHERO's strategic product pricing as well as the contemporary product
designs, variety and mix. Based on the enhanced brand visibility and brand
image, KINGHERO was able to increase the price per unit considerably in
2011. Also the newly established flagship stores contributed to the sales
growth: KINGHERO aimed to have 65 flagship stores in operation by the end
of 2011, against only 7 stores in 2010. This goal was almost achieved, as
the company was operating 58 stores by the end of 2011. KINGHERO expects to
have at least 65 flagship stores in operation by the end of January 2012.
The slight delay was due to administrative reasons, as the sites had been
chosen already.
'We strengthened our brand name and profitability by opening further
flagship stores. We still see increasing demand for our products and are
looking forward to a successful new year with double-digit growth rates,'
states Zhang Yu, CEO and founder of KINGHERO.
KINGHERO expects to continue its growth at an attractive pace. In 2011,
average quarterly sales were EUR 25.5 million; in Q4 alone, sales amounted
to almost EUR 40 million. Given the strong economic growth in China and the
focus of the Chinese government on domestic consumption, KINGHERO should
benefit accordingly. By the end of 2011, the urban population outstripped
the rural population for the first time in Chinese history.
The management expects strong sales during Chinese New Year, particularly
in its flagship stores. Following the sales results in January and early
February, KINGHERO will publish a sales and margin forecast for the full
year 2012.
* This number is based on an estimated e average RMB/EURO exchange rate of
8.9880
About KINGHERO AG
KINGHERO AG is the German Holding Company of the KINGHERO Group of
companies, mainly active in the Peoples Republic of China (PRC). The Group
is a strongly growing apparel manufacturer and designer, featuring a
leading Chinese fashion brand for the strongly growing urban middle class
in China. The key to the Company's success is a high fashion degree with a
European 'touch and feel' as well as an upscale quality. The high speed of
the design and marketing of new collections ensures a fit to the changing
demands of the growing urban middle class in China. Being in this business
for more than 25 years, the group and its more than 1,100 employees produce
attire for all seasons under the KINGHERO brand. The product portfolio
includes suits, jackets, shirts, pants and sweaters for men and women and
is divided into a business casual range and a general casual range.
For further information please contact:
Kirchhoff Consult AG
Jens Hecht
Phone: +49 (0) 40 60 91 86 82
jens.hecht(at)kirchhoff.de
KINGHERO AG
Gustav-Heinemann-Ring 44
81739 Munich
Germany
Phone: +49 (0) 89 67 34 68 84
xiaoping.zhao-moll(at)kinghero.de
Disclaimer
This document is not an offer of securities for sale or a solicitation of
an offer to purchase securities in the United States. The shares of
KINGHERO AG (the 'Shares') have not been registered under the U.S.
Securities Act of 1933, as amended (the 'Securities Act') and may not be
offered or sold in the United States unless registered under the Securities
Act or pursuant to an exemption from such registration. There will be no
public offering of the Shares in the United States and the Shares will not
be registered under the Securities Act.
This document is only being distributed to and is only directed at (i)
persons who are outside the United Kingdom or (ii) to investment
professionals falling within Article 19(5) of the Financial Services and
Markets Act 2000 (Financial Promotion) Order 2005 (the 'Order') or (iii)
high net worth entities, and other persons to whom it may lawfully be
communicated, falling within Article 49(2)(a) to (d) of the Order (all such
persons together being referred to as 'relevant persons'). The Shares are
only available to, and any invitation, offer or agreement to subscribe,
purchase or otherwise acquire such securities will be engaged in only with,
relevant persons. Any person who is not a relevant person should not act or
rely on this document or any of its contents.
End of Corporate News
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19.01.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: KINGHERO AG
Gustav-Heinemann-Ring 44
81739 München
Germany
Phone: 089 - 6734 6884
Fax: 089 - 6734 6887
E-mail: contact(at)kinghero.de
Internet: www.kinghero.de
ISIN: DE000A0XFMW8
WKN: A0XFMW
Listed: Freiverkehr in Düsseldorf, Hamburg, Stuttgart; Open Market
(Entry Standard) in Frankfurt
End of News DGAP News-Service
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153318 19.01.2012
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Datum: 19.01.2012 - 08:03 Uhr
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