Giordano Group has seen their sales fall 11.9 per cent last year to HK$4.852 billion (US$624.6 million). Sales from physical stores fell by 9.6 per cent, while sales to franchisees declined by 24.2 per cent, partly due to the tightening of the company’s credit policy in light of weakening economic conditions.
“Management is determined to further develop our e-commerce business in all regions by improving the product mix and collaboration with emerging online platforms, the company said.
In the year ahead, Giordano plans to expand its global footprint. Four franchised stores opened in Mauritius in the second half of last year and this year the company plans openings in India and Kenya. The Middle East and Indonesia businesses recorded sales growth last year, making them “critical markets” for short-term expansion.
