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SBD Global/April 9, 2013/Finance
French Sporting Goods Chain Decathlon Steps Up Presence In China
Published April 9, 2013
STAYING ON TOP: WANT CHINA TIMES also reported that many businesses in Jinjiang in the Fujian province "are struggling to stay afloat owing to the heavy burden of excess inventory." Six leading sportswear producers, including Anta, 361 Degrees, Xtep, Peak, Li Ning and Dxsport "have been forced to close more than 3,000 outlets across the country since last year, with heavy losses arising from their excess stock" worth more than 3.72B yuan ($594M). The situation among the city's other garment producers "was not much better in the first half" of '12, with 17.7% of clothing companies "suffering losses." The industry overall "has unsold inventory" worth 38.2B yuan ($6B), which accounts for three years of total sales revenue (WANT CHINA TIMES, 4/8).