CYBEX Brand Continues Revenue Growth Momentum
HONG KONG, May 12, 2023 /PRNewswire/ -- Goodbaby International Holdings Limited ("Goodbaby International" or the "Company", HKEX stock code: 1086, together with its subsidiaries, the "Group"), a leading global parenting products company, today announced its unaudited revenue performance for the three months ended 31 March 2023 (the "Period"), with revenue amounting to approximately HK$1,841.8 million.
During the Period, CYBEX brand continued its growth momentum and achieved revenue of approximately HK$852.4 million, representing a growth rate of 3.4% (an 8.2% increase on a constant currency basis). The increase was achieved through its strong brand position, product portfolio and new launches, strong global omni-channel distribution and enhanced global operations. CYBEX continued to gain market share in its core markets during the Period.
Revenue for gb brand was approximately HK$308.7 million. The brand continued to right-size its commercial operations to adapt to the post-pandemic era and declining birth rate in China, and to invest in the enrichment of its consumer-centric retail strategy through enhanced product portfolio.
Evenflo brand recorded revenue of approximately HK$539.7 million during the Period. Thanks to its successful efforts in upgrading its brand image and product portfolio, Evenflo continued to gain market share in its home market in the North America, despite the negative impacts of destocking activities.
Mr. Tongyou LIU, CEO of Goodbaby International, said, "The stabilization of the global logistics environment and raw material prices, as well as the lifting of pandemic restrictions worldwide have positive impact on the Group's business and we remain confident in the growth of our business. We will continue to implement cost control and efficiency improvement initiatives and focus on the continuous improvement of profitability and cash flow management."
About Goodbaby International Holdings Limited
Goodbaby International Holdings Ltd. (stock code: 1086) is a world-leading parenting products company. The Group serves millions of families around the world through design, research and development, manufacture, marketing and sales of children's car safety seats, strollers, apparel and home textile products, feeding, nursing and personal care products, cribs, bicycles and tricycles and other children's products.
For more information, please visit Goodbaby's corporate website: www.gbinternational.com.hk.
