Reporter clothes producer sells in China

opublikowano: 03-11-2008, 16:54

Warsaw (Puls Biznesu) – The clothes producer which planned an IPO this year, has changed its mind. It is developing a network of shops in China, where it already produces its clothes.

Reporter has already launched six shops in China.

“The Chinese market is incomparable to the European one as far as its size is concerned. There is enough place for 500 or even 1,000 shops of one brand”, Marcin Juzon, Reporter CEO said.

It costs USD 150,000 to launch one shop in China, or 30 percent less than in Poland.

“The advantage of the Chinese market consists in the fact that we have our clothes produced there and you don’t have to wait for clothes too long. Besides, the market develops incredibly fast, and people spend more and more money”, Marcin Juzon said.

Reported decided to start sales in China after one of its local partners had said that it liked the clothes.

“We will see at the end of the year whether is worthwhile investing on this market. If we decide so, we will launch 10-20 new shops”, Marcin Juzon added.

A year ago, Reporter’s management had said that the company planned an IPO in the first quarter of this year. Last year, Reporter had PLN 41m (EUR 11.5m) of net loss and PLN 169m of sales against PLN 11m of net income and PLN 148m of sales in 2006. This year, the company hopes to generate PLN 200m of sales and PLN 5m of net income.

(PLN 1 = EUR 0.281)

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Podpis: MAG