Goodbaby International 2021 middle income hits record high at HK $ 4,627.3 million
Top Strategic Brands and Blue-chip Companies Achieve Revenue Growth
Continued proactive execution of a clear and sustainable long-term strategy
HONG KONG, Aug 23, 2021 / PRNewswire / – Goodbaby International Holdings Limited (“Goodbaby International” or the “Company”, stock code HKEX: 1086, as well as its subsidiaries, the “Group“), a world leader in parenting products, announced its interim results for the half-year ended June 30, 2021 (the “PeriodDuring the period, the lingering impacts of COVID-19 continued to pose challenges to global markets, nonetheless, the Group’s business remained strong as its core Strategic Brand and Blue Chip businesses grew Group revenues increased by 24.5% (16.9% increase at constant currencies) to approximately HK $ 4,627.3 million (1H 2020: HK $ 3,718.1 million), reaching a record level and its Core Strategic Brands recorded a 23.7% increase (15.9% increase at constant exchange rates) in sales compared to the sales for the corresponding period in 2020.
CYBEX hit a new revenue record and gained further market share
During the period, the CYBEX brand achieved significant revenue growth of 50.4% (39.6% increase at constant exchange rate) to reach a new all-time high of approximately HK $ 1,617.9 million (1H 2020: HK $ 1,075.6 million). The strong growth momentum in all key global markets is mainly due to continued market share gain, continued expansion of domestic distribution in existing and new markets, accelerated introduction of new products into new markets. car seats and items on wheels and improving operational management / global supply chain. The launch of new product categories continued the expansion of distribution into new markets, as well as the introduction of its own e-commerce platform in Europe and North America will strengthen the global business platform to facilitate further market share gains globally and strengthen its leadership position. In addition, CYBEX continued to receive numerous awards from independent European consumer testing organizations during the period, demonstrating the brand’s unwavering commitment to technology and design.
gb Achieved Double Digit Revenue Growth From Online and Offline Sales Through Transformation To Digitization
gb reported a 7.0% increase in revenue (down 2.4% at constant exchange rates) to approximately HK $ 1,211.2 million (1H 2020: HK $ 1,132.3 million) in the period. In the key China market, the brand gb recorded a growth in its turnover of 10.1% (increase of 0.3% at constant exchange rate), underlined by strong growth in the first quarter of 2021 due to the resumption of retail traffic and offline sales. During the second quarter, the gb brand realigned all key distribution channels to improve the overall consumer experience and service. The reform of the wholesale distribution channel and the closures and openings of selected stores are the highlights of these aforementioned initiatives. As a result, its own retail channels, both online and offline, saw double-digit revenue growth during the period. Meanwhile, gb has continued to devote resources to product development and innovation in both sustainable and non-sustainable products, and these efforts have been recognized with prestigious awards, including two Red Dot Design Awards and an iF Design Award. .
Evenflo Achieves Revenue Growth Due to Strong Consumer Acceptance of New Products
Evenflo’s revenue increased by 12.1% (10.4% increase at constant exchange rate) to reach approximately HK $ 937.2 million (1H 2020: HK $ 836.3 million) during the period, mainly due to strong consumer acceptance of new products designed and introduced to improve the overall brand image. Overall revenue dynamics were tempered during the period by product availability issues resulting from global supply chain logistics and cost drivers. As the overall macro environment in North America continues to stabilize due to rising immunization levels and relief initiatives, volatility remains due to the lingering impact of COVID-19 variants and headwinds persistent global supply.
During the Period, the First-class company recorded very strong revenue growth of 38.5% (31.8% increase at constant exchange rates) to around HK $ 642.3 million (1H 2020: HK $ 463.9 million). The positive revenue growth is driven by increased customer orders as their respective markets continue to recover from the impacts of COVID-19. The Group continues to provide robust and value-driven solutions to its major customers and, as a result, the Blue Chip business remains stable and strong.
The Group recorded an increase in its turnover of 4.1% (decrease of 1.6% at constant exchange rate) to approximately HK $ 218.7 million (1H 2020: 210.0 million Hong Kong dollars) of its tactical brands during the period, mainly due to the general business climate recovering from the COVID-19 restrictions of the previous period, offset by the continued planned rationalization of the respective product portfolios.
Look ahead, CYBEX will continue its strong strategy of global growth in all key geographic regions and gain market share through its current product portfolio, new product launches, new category extensions, enhanced supply chain capabilities, new e-commerce platforms and the expansion of national distribution platforms into new geographies. territories. go the brand will continue to upgrade its brand, further develop the digital cloud retail system and social media owned channels and reform its wholesale distribution channel, as well as focus on product innovation, technologies and new product launches, which will lay the foundation for revenue growth and profitability. Evenflo will continue to generate sustainable revenue and market share growth, launch more profitable products and win new business awards from major retailers, with the brand recognized for its commitment to overall brand improvement and l product innovation.
The CEO of Goodbaby International, Mr. Martin Pos concluded, “Despite the lingering impacts of COVID-19 and ongoing global supply chain capacity limitations, we are very encouraged by our business development and the proven strength of our business platform. We remain very confident in our overall strategy and will continue to execute our focused strategy in our core strategic brands and support the continued development of our Blue Chip business. In summary, we will remain vigilant about the continued impacts of COVID-19 and implement additional proactive measures necessary to ensure the continued viability of the Group’s performance. Our strong one-dragon global model is the key building block to continuing to achieve significant achievements in all environments. “
For more details, please refer to the announcement:
About Goodbaby International Holdings Limited
Goodbaby International Holdings Ltd. is one of the world leaders in the field of parental products. The Group serves millions of families around the world through the design, research and development, manufacture, marketing and sale of child safety seats, strollers, clothing and home textiles, food, nursing and personal care products, cribs, bicycles and tricycles and other children’s products.
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SOURCE Goodbaby International Holdings Limited