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COVID-19 to hit China Lilang’s sales in 2020

China Lilang, a prominent menswear manufacturer and retailer from China, fears 2020 could be contradictory to what 2019 was as far as sales are concerned. The menswear brand saw an impressive surge of 15 per cent in sales last year touching $515.78 million. Amidst huge store expansions all through 2019, many outlets were relocated as a part of business strategy to enhance its exposure to customers.

China Lilang opened, on an average, 3 stores every week in 2019. Its profit from operation increased to $138 million (11.1 per cent), net profit touched $ 114.5 million last year, which is a jump of a little over 8 per cent. However, the retailer is worried about 2020. The Coronavirus has hit the sales in a big way, which may force it to bring down the production of Autumn 2020 items so as to help outlets destock Spring inventories.

 
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