Goodbaby acquires famous foreign brands, then makes them profitable

Time-honored household brand names from Europe and North America have become profitable after being acquired by Goodbaby Group, China's largest manufacturer and retailer of baby-care products.

Song Zhenghuan, chairman of Goodbaby Group, said that Evenflo, a leading US maker of car safety seats, high chairs and other products for young children, made a profit of about $14 million in 2016, after being incorporated into the group.

According to the company's 2015 annual report, Evenflo's revenue of Evenflo was around $231 million in 2015, a 16.5 percent increase over 2014.