dThis well-known footwear, sportswear and apparel retailer, with over 19,000 stores in mainland China, resumed steady new store construction and focused expansion in underpenetrated second and third tier markets.
The slower rate of China’s economic growth weakened in-store customer traffic, however. And despite the rapid rise of ecommerce, it wasn’t generally a popular channel for purchasing high quality footwear.
Belle worked on integrating its joint venture partner Baroque Japan, a women’s fashion apparel company, and it completed the acquisition of Longhao Tiandi, noted for high-end casual footwear.
Belle International Holdings Ltd. both manufactures and retails shoes and retails sportswear and apparel. It was formed in 1991 and listed on the Hong Kong Stock Exchange in 2007. For the full year 2013, net income grew 6 percent to $731 million on a 13 percent revenue rise to $5.9 billion.