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2007-8-5
Experts observe that rapid growth has led to the accumulation of funds among garment and textile enterprises. However, since the textile industry has been showing a slow growth rate, companies are diverting their attention towards real estate for more profits.
This may enable them to control the sales terminal and the sales channels like franchise shops and big marketplace.
Recently, the Youngor Group which deals in Western-style clothes and shirts, bought three pieces of land worth 3.5 billion yuan in Zhejiang and Jiangsu Provinces.
The group is planning to set up 500 big franchises with an area of at least 500 square meters. So far, they have invested about 1.5 billion yuan to purchase shops in good locations across the country.
Youngor Group has earned a profit of about 10 million yuan by transfering their franchise shops in Hangzhou city in 2003.
Fibre2fashion News Desk - China
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