Both CYBEX and Evenflo Further Gain Market Shares in Their Core Markets Together with Enhanced Gross Margin and Cashflow
HONG KONG, Nov. 10, 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, has announced its unaudited revenue performance for the nine months ended 30 September 2023 (the "Period"), with revenue amounting to approximately HK$5,806.2 million.
During the Period, the CYBEX brand continued to experience strong growth at a rate of 11.9% (12.7% on a constant currency basis) and achieved revenue of approximately HK$2,733.3 million. The sustained positive performance was mainly due to its strong and continuously enhanced brand position, product portfolio and new launches, strong global omni-channel distribution and strengthened global operations. CYBEX consistently outperformed the competition in its core markets, resulting in a gain in market share.
Revenue from the gb brand was approximately HK$896.4 million. The brand continued to rightsize its commercial operations to adapt to the post-pandemic era and the declining birth rate in China. In addition, it remains focused on investments to enrich its consumer-centric retail strategy through an enhanced product portfolio.
The Evenflo brand recorded revenue of approximately HK$1,653.5 million for the Period. Thanks to its very positive growth in digital channels, strong consumer acceptance of its innovative products, and elevated product portfolio and brand image, Evenflo successfully continued to outperform the market in North America, thereby gaining market share.
Mr. Tongyou LIU, Executive Director and Group CEO of Goodbaby International, said, "We are pleased to note that the Group further gained market shares in key international markets and achieved very positive gross margin and cashflow momentum during the Period. Looking ahead, we will continue to implement our established strategy while maintaining a prudent approach due to the challenging macro environment characterized by heightened geopolitical conflicts, slowing economic growth prospects, and uncertainties in foreign exchange rate fluctuations."
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.
