Xtep suddenly announced that it would shelve the five-year plan! ON Angpao Heavy Warehouse China

On March 18th, Xtep International announced that it would shelve its five-year plan, and it is expected that its sales will increase by at least 10% this year.

Xtep's five-year plan pointed out that by 2025, Xtep's main brand plans to achieve the goal of operating income of 20 billion yuan, and Xtep will achieve the goal of accumulating 4 billion yuan by 2025.

Ding Shuibo, chairman and CEO of the company, said that although its brand K Swiss has opened an image store in SOGO, the plan for the flagship store will be postponed.

Chief Financial Officer Yang Lubin pointed out that in view of the poor consumption prospects, the Group has set a sales growth target of not less than 10% this year, and the profit growth is expected to exceed the sales growth. At present, the company's primary task is to keep the cash flow stable. Yang Lubin predicts that K Swiss will be profitable in 2025.

Recently, ON Angpao said in a media statement that the brand "achieved strong annual performance results in 2023, which greatly exceeded the expectations at the beginning of the year." ON Onrun predicts that in 2024, brand sales will increase by at least 30% year-on-year, the gross profit margin will rise to about 60%, and the adjusted profit margin before interest and tax will be between 16.0% and 16.5%.

According to British media reports, Loro Piana, a brand owned by luxury goods giant LVMH Group, is accused of squeezing Peruvian aborigines who provide raw materials for llama hair.

It is understood that most villagers in the village who provide camel hair fabrics for Loro Piana earn less than $91 per person per month, while sweaters made of camel hair cost as much as $9,000.

In the ten years since LVMH Group acquired Loro Piana brand, the purchase price of camel hair, which was not less than $400 promised by the original brand founder, has recently dropped to $280, resulting in an 80% drop in the income of local herders.

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