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361 Degrees Announces the Results of Its 2012 Autumn Trade Fair

2011-12-09 17:44 1166

HONG KONG, Dec. 9, 2011 /PRNewswire-Asia/ -- 361 Degrees International Limited ("361 Degrees" or the "Company", together with its subsidiaries, the "Group"; HKSE stock code: 1361), one of the leading sports brand enterprises in China, is pleased to announce the following key results of its 2012 Autumn Trade Fair held recently:

  • The Order Book at wholesale value grew by 6% compared with the same fair last year
  • Footwear orders improved by 5.1% in value, of which 1.1% is due to volume and 4.0% attributable to a higher ASP from a different product mix
  • Apparel orders remain virtually flat in volume terms, up 0.6%, whilst ASP improved by 6.3% leading to an overall growth of 6.9%

In view of a generally more difficult economic environment in 2012, buyers from the Group's franchised network chose to be cautious, especially as many other companies in the industry appear to have abundant inventory in their distribution channels.

It is however particularly pleasing to note that the distributors and retailers have reaffirmed their intention to fulfill their commitment to the orders from the 2012 Spring/Summer Trade Fair, signaling their confidence in both the brand and well as the sales performance in the first half of next year.

Given the uncertainties prevailing in the world economy which will also affect China, the industry will face challenging conditions in 2012 as competition remains intense. However, with a strong balance sheet, a stable management structure and good internal controls in addition to an unfailingly strong retail network, the Company believes it will continue to perform satisfactorily.

For more detailed information, please contact Mr. Y F Chen of Investor Relations at yuanfeng@361sportshk.com.

About 361 Degrees International Limited

361 Degrees International Limited is one of the leading sports brand enterprises in China, possessing brand marketing, research and development, design, manufacturing, distribution and retail capabilities. The Group's products include footwear, apparel, accessories and equipment for sport and leisure uses. The Group has established an extensive supply chain management system through proprietary and sub-contracted manufacturing operations; and an exclusive distribution and retail network in China through distribution via authorized distributors.

For further information, please contact:

iPR Ogilvy LTD. 
Natalie Tam/ Charis Yau/ Summer Si/ Janis Lai
Tel: (852) 2136 6182/ 2136 6183/ 2136 6953/ 2169 0646
Fax: (852) 3170 6606
Email: natalie.tam@iprogilvy.com / charis.yau@iprogilvy.com /
  summer.si@iprogilvy.com / janis.lai@iprogilvy.com 
Source: 361 Degrees International Limited
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