In The First Three Months, The Same Store Sales Of BELLE Footwear Business Were 16% Lower Than That Of The Previous Year.

Today's report:

International Holdings Limited said on Tuesday that it had invested in a fund.

BELLE invested $60 million in HK $468 million to invest in the fund company Fengshion GP through its indirect subsidiary Investment Company Hong Kong Limited (HK). In addition to this, BELLE related Holdings Holdings Limited also invested the equivalent amount of Fengshion GP.

Yingde is hosted by BELLE group chief executive Sheng Bai Jiao, executive director, and Yu Wu, and the three people hold a total of 30% stake in Yingde.

For the above investments, BELLE said that it hoped that with the respect of fund managers in the field of technology and consumption, capturing early investment opportunities and achieving profits, it also played a positive role in supporting the company's business development.

In the Chinese economic downturn and consumption pition period, BELLE tradition

Business continued to slack.

According to the data, as of the first three months of May 31st, the sales volume of BELLE international footwear business in mainland China dropped by 16% compared with the same period last year, and has fallen by more than 10% in three consecutive quarters.

At the same time, sports,

Business growth continued to slow down, while domestic sales in the same period grew by only 5.5%, compared with over three growth in the previous three quarters.

Sheng Bai pepper pointed out that the double-digit decline of footwear business in the first quarter was partly due to weather factors, which will be improved in the two quarter, while sports apparel business also recorded an expected growth in the two quarter.

He also said that China's overall consumption growth was clear, but the structural changes in consumption were relatively large.

However, the development of the department store industry is worse than that of two or three years ago. The brand can no longer develop in a single direction. The pursuit of a single market maximization requires brand pformation. He reiterates that "no pformation can not be done" and will carry out pformation work in an orderly way.

For the specific pformation plan of BELLE group, Sheng Bai Jiao is in an orderly manner and hopes to complete it before retirement.

The pformation includes sorting out the store structure and re examining the number and location of stores, including closing down shops with poor profitability.

According to the data, as of the end of the first quarter of May 31st, BELLE group has 20876 direct retail outlets in mainland China, 13655 of which are footwear stores, 7221 of which are sports and clothing stores, with a net loss of 107 and a net increase of 110 over February 29th.

Speaking of the Hongkong market, Sheng Bai pepper is more pessimistic, and sales have a greater impact on profits. Compared with the "occupy" in 2014, the impact of tourists' decline in 2015 is even greater.