Thursday 28 Mar 2024
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KUALA LUMPUR (Dec 29): China-based Xingquan International Sports Holdings Ltd plans to open another 200 self-operated point-of-sale (POS) or sales outlets over the next three to five years in China, to generate higher profit margins.

Speaking to the press after the group's annual general meeting today, its non-executive director Ooi Guan Hoe said Xingquan will invest RMB1 million in the opening of each store.

Xingquan, which first launched the self-operated POS model in departmental stores in 2012, now has 120 self-operated POS in China, which contribute 10%-15% to the group's revenue.

The group also sells its shoes, shoe soles, as well as apparels and accessories through distributors.

Ooi said the group, which expects to open up to 300 POS in three to five years, expects revenue contribution from this business model to reach 30%-40% by then, which is what the group deems as "ideal".
 

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