Hong Kong-based apparel retailer Bossini has published its annual financial report for the year ending June 30, 2009, stating that mainland China was Bossini's only marketplace that saw revenue growth over the period.
During the fiscal year end June 30, 2009, due to the impact of the global financial crisis Bossini's annual revenue decreased by 3% year-on-year to HKD2.254 billion. According to the report, Bossini's revenue from Hong Kong, the company's largest market, decreased by 1% year-on-year to HKD1.279 billion, accounting for 56% of its total revenue; and its revenue from Taiwan, Singapore, and Malaysia all decreased by over 10% compared with the same period of the previous year.
The Chinese mainland market, on the other hand, saw a revenue increase of 5% to HKD468 million: accounting for 21% of Bossini total revenue.
To seize the opportunities in the Chinese mainland market, Bossini said it had greatly increased the number of its retail stores in this marketplace. By the end of June 2009, the number of the company's directly-managed stores in mainland China had been increased from 304 in the previous year to 362; and the number of its franchised stores had been increased from 188 to 216.