March 29, 2021
The boycott of Nike, Adidas, and other western brands in China over their avoidance of Xinjiang cotton and manufacturing does not appear to be having a significant effect, according to a story in the South China Morning Post.
Net income at the Chinese apparel manufacturer inched higher in 2020 to RMB 5,106,736,000 ($740.0 mm) from RMB 5,095,206,000, on 2% higher revenues of RMB 23,030,648,000 ($3,337.3 mm) up from RMB 22,665,272,000.
Pandemic fueled global bicycle demand and a soaring e-bike business powered the world’s largest bike company to RMB 70.01 billion ($10.1 bb) in revenues last year, a 10% increase from 2019.
The Japanese retailer’s bottom line rebounded to a profit of ¥578 million ($5.4 mm) in the fiscal first half ended Feb. 28, from a loss of ¥386 million prior, as revenues grew 4% to ¥30,602 million ($286.6 mm) from ¥29,408 million.
Zoppas, who served as general manager of the Nordica brand between 2003 and 2006, is returning to Tecnica Group as its chief executive and general manager.