Giordano eyes further expansion into developing economies as profit jumps 13.1%

Hong Kong-listed apparel retailer Giordano will further expand in developing economies through franchising and licensing, encouraged by robust sales.

Giordano‘s second-half sales outperformed its first-half by 13.1 percent, as sales increased 12.4 percent to US$483.95 million while tax-paid profits attributable to shareholders rose 41.1 percent to $34.14 million during the year.

The group diverted its resources to Southeast Asia and Gulf Cooperation Council segments, which helped boost its net profit, due to economic restrictions in China and Hong Kong.

Giordano is also encouraged by its progress in India, Mauritius, Kenya, Ghana, and Egypt, prompting it to plan to strengthen its proprietary channels and partner with well-established third-party platforms there.

It added that it will be cautiously expanding in markets with high operating costs, such as Hong Kong, through direct-operated stores, especially.