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Footwear business down at giant Belle

Jun 9, 2017 / China
Footwear business down at giant Belle
The China-based group has reported declining revenue for its footwear business in fiscal year 2016/17. Sporstwear and apparel registered double digit revenue growth
Belle has announced double-digit revenue growth for its sportswear and apparel business, while its footwear business registered a double-digit revenue decline.

As a result, the sportswear and apparel business contributed with a higher percentage to total revenue, for the first time.

According to the company: “Generally speaking, in a developed country, athletic and casual styles dominate the footwear market, with limited market share for formal dress shoes. With the fast growth and continued sophistication of Chinese consumers, their demand most likely will be more visible in the sports and casual styles, driven by diverse lifestyles and unique aesthetics. The group’s past decision of entry into sportswear and apparel was based on the same view”.

During the last financial year, the group closed 700 footwear stores and opened 540 sportswear stores.



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