KINGHERO AG
KINGHERO AG: 40% sales growth in 2011
KINGHERO AG / Key word(s): Preliminary Results 19.01.2012 / 08:03 --------------------------------------------------------------------- Munich, 19 January 2012. KINGHERO AG, the German holding company of a fast-growing Chinese fashion company, has developed very successfully in the financial year 2011. According to preliminary calculations, the company achieved sales of EUR 102 million*, representing a year-on-year increase of approx. 40%. Also, operating margins are expected to be above the 2010 levels. The strong growth was achieved due to the rising demand of Chinese consumers for the company's fashion products. Sales were propelled by KINGHERO's strategic product pricing as well as the contemporary product designs, variety and mix. Based on the enhanced brand visibility and brand image, KINGHERO was able to increase the price per unit considerably in 2011. Also the newly established flagship stores contributed to the sales growth: KINGHERO aimed to have 65 flagship stores in operation by the end of 2011, against only 7 stores in 2010. This goal was almost achieved, as the company was operating 58 stores by the end of 2011. KINGHERO expects to have at least 65 flagship stores in operation by the end of January 2012. The slight delay was due to administrative reasons, as the sites had been chosen already. 'We strengthened our brand name and profitability by opening further flagship stores. We still see increasing demand for our products and are looking forward to a successful new year with double-digit growth rates,' states Zhang Yu, CEO and founder of KINGHERO. KINGHERO expects to continue its growth at an attractive pace. In 2011, average quarterly sales were EUR 25.5 million; in Q4 alone, sales amounted to almost EUR 40 million. Given the strong economic growth in China and the focus of the Chinese government on domestic consumption, KINGHERO should benefit accordingly. By the end of 2011, the urban population outstripped the rural population for the first time in Chinese history. The management expects strong sales during Chinese New Year, particularly in its flagship stores. Following the sales results in January and early February, KINGHERO will publish a sales and margin forecast for the full year 2012. * This number is based on an estimated e average RMB/EURO exchange rate of 8.9880 About KINGHERO AG KINGHERO AG is the German Holding Company of the KINGHERO Group of companies, mainly active in the Peoples Republic of China (PRC). The Group is a strongly growing apparel manufacturer and designer, featuring a leading Chinese fashion brand for the strongly growing urban middle class in China. The key to the Company's success is a high fashion degree with a European 'touch and feel' as well as an upscale quality. The high speed of the design and marketing of new collections ensures a fit to the changing demands of the growing urban middle class in China. Being in this business for more than 25 years, the group and its more than 1,100 employees produce attire for all seasons under the KINGHERO brand. The product portfolio includes suits, jackets, shirts, pants and sweaters for men and women and is divided into a business casual range and a general casual range. For further information please contact: Kirchhoff Consult AG Jens Hecht Phone: +49 (0) 40 60 91 86 82 jens.hecht@kirchhoff.de KINGHERO AG Gustav-Heinemann-Ring 44 81739 Munich Germany Phone: +49 (0) 89 67 34 68 84 xiaoping.zhao-moll@kinghero.de Disclaimer This document is not an offer of securities for sale or a solicitation of an offer to purchase securities in the United States. The shares of KINGHERO AG (the 'Shares') have not been registered under the U.S. Securities Act of 1933, as amended (the 'Securities Act') and may not be offered or sold in the United States unless registered under the Securities Act or pursuant to an exemption from such registration. There will be no public offering of the Shares in the United States and the Shares will not be registered under the Securities Act. This document is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the 'Order') or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as 'relevant persons'). The Shares are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. End of Corporate News --------------------------------------------------------------------- 19.01.2012 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: KINGHERO AG Gustav-Heinemann-Ring 44 81739 München Germany Phone: 089 - 6734 6884 Fax: 089 - 6734 6887 E-mail: contact@kinghero.de Internet: www.kinghero.de ISIN: DE000A0XFMW8 WKN: A0XFMW Listed: Freiverkehr in Düsseldorf, Hamburg, Stuttgart; Open Market (Entry Standard) in Frankfurt End of News DGAP News-Service --------------------------------------------------------------------- 153318 19.01.2012
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