.contact us |.about us
News > Business News ...
Baby carrier maker to go public in HK
( 2004-02-04 15:33) (China Daily by Xiao Zhang)

Goodbaby Group, the biggest manufacturer and seller of baby carriers in China, plans to go public through its overseas branch at the Hong Kong Stock Exchange this year.

"The company started to prepare for its H-share issuing last year and the listing is expected to be achieved within the first half of this year," Ye Zhongquan, assistant president of Goodbaby Group, said yesterday.

But Ye refused to reveal any detailed plans.

"Funds to be raised through the public listing will be mainly used in investing in the Goodbaby Industrial Park located in Kunshan, in East China's Jiangsu Province, to expand the company's research, development and manufacture capabilities," Ye said.

The company will also use the money in building its nationwide distribution network and developing its website which introduces baby care knowledge, to attract more Chinese customers.

The company had earlier announced it plans to set up 5,000 Goodbaby chain stores throughout the country.

At present, it has more than 40 chain stores, over 700 sales counters in department stores, and nearly 10,000 sales outlets countrywide.

In addition to the domestic business, the company will also focus on its overseas business development as well, Ye said.

Last year, the company achieved a sales volume of 1.52 billion yuan (US$184 million), with about 30 per cent sold at home and nearly 70 per cent exported, mainly to the United States and Europe.

Goodbaby makes roughly one-third of the pushchairs or baby strollers sold in the US and more than half of the children's bicycles, under the brand name Geoby.

Goodbaby has a market share of 70 per cent or more in China. It also produces and sells children costumes and other baby care goods like paper diapers and nursing bottles in the domestic market.

The company expects that its sales volume will reach 2.2 billion yuan (US$266 million) this year, while exceed 4 billion yuan (US$483 million) in 2006.

The company began to co-operate with 10 world famous child products brands last year, including Nikekids, Parrot, Cosco and Tommee Tippee.

As the sole agent of these brands in China, Goodbaby will open more sales counters in big department stores this year.

  Today's Top News   Top Business News
+WHO: Bird flu death rises to 15; vaccination recommended
( 2004-02-05)
+Solana: EU ready to lift China arms embargo
( 2004-02-05)
+Nation tops TV, cell phone, monitor production
( 2004-02-05)
+Absence ... still makes China hot
( 2004-02-05)
+Hu: Developing world in key role
( 2004-02-04)
+KFC: We operate normally in China despite bird flu outbreaks
( 2004-02-05)
+Starbucks takes aim at China chain
( 2004-02-05)
+Former Microsoft China chief gets new job
( 2004-02-05)
+Private airline prepared for take off
( 2004-02-05)
+Investors lured by call of siren
( 2004-02-05)
  Go to Another Section  
  Article Tools  
        .contact us |.about us
  Copyright By chinadaily.com.cn. All rights reserved