Belle International Explained

Belle International Holdings Limited
百丽国际控股有限公司
Type:Public
Foundation:1991
Founder:Yiu Tang
Location:Shenzhen, China[1]
Key People:Chairman

Deng Yao
CEO: Baijiao Sheng

Area Served:People's Republic of China
Industry:Footwear
Products:Shoes
Revenue:US$1.5 billion (2009)
Num Employees:71,789 (2009)
Homepage:Belle International Holdings Limited

Belle International Holdings Limited is a women's shoe retailer in China, with 22% of the domestic market share.[2] It is engaged in the manufacturing, distribution, and retail sales of footwear products.[3] As of its IPO in May 2007, the company had 3,828 retail outlets in 150 cities in China and 35 in Hong Kong, Macau and the US.[4]

History

Belle's founder and chairman, Tang Yiu, started Lai Wah Footwear Trading Ltd. in 1981 in Hong Kong.[5] He started Belle International in 1991 as a shoe wholesale manufacturer, and the company expanded into retail in 2004. It attracted private equity investors including Morgan Stanley and domestic Chinese private equity manager CDH. In May 2007 Belle raised $1.1 billion in an IPO on the Hong Kong Stock Exchange. The offering was priced at the top of the range, at 31 times its estimated 2007 earnings, after retail investors ordered more than 500 times the shares initially earmarked for them.[6] According to the IPO prospectus, an investment company linked to Groupe Arnault, parent of French luxury goods group LVMH, purchased $30 million worth of shares as a strategic corporate investor.[4] Belle raised an additional $775 million in two secondary listings in November 2007 and April 2008, which it used to buy several competing brands.

In 2006, Belle International won the contract to be the biggest distributor of Nike and Adidas. As of 2014, these brands made up 90% of the sales in Belle's sportswear division.[7] In addition, Belle International sells the brands Puma, Converse, Reebok, Vans, Bata, Mizuno, Clarks, Mephisto, among others, which account for 5.3% of total sales.[8] [9]

In 2007, Belle reported profits of $291 million (up 102% over 2006) on sales of $1.7 billion (up 89% over 2006). Its three women's brands - Staccato, Millie's, and Joy&Peace - account for about a 50% share of the $90-$150 shoe segment in China. Non-sports shoes account for 67% of sales, and licensing agreements with global brands make up the remainder.

In September 2008, Belle was named No. 8 in the BusinessWeek Asia 50, Businessweek's annual ranking of top Asian companies.[10] In 2009, Belle sold its shares in Fila China to ANTA Sports, which Fila China was its subsidiary (owned 85%).[11]

Sportswear distribution represented 39% of the company's sales in 2014.[12]

In 2017, Hillhouse Capital and CDH Investments privatized Belle International in a deal worth $6.8 billion.[13] The company spun off its sportswear division with an initial public offering in October 2019, raising $1.01 billion.[14]

External links

Notes and References

  1. Web site: Belle . 2014-08-19 . dead . https://web.archive.org/web/20140708132746/http://www.belleintl.com/en/contact.php . 2014-07-08 .
  2. Web site: Shoe Seller Belle Conquers China. 2008-12-02. BusinessWeek.com, September 5, 2008. https://web.archive.org/web/20090105101609/http://www.businessweek.com/globalbiz/content/sep2008/gb2008095_430889.htm. 5 January 2009 . dead.
  3. https://www.google.com/finance/quote/1880:HKG Belle International Holdings Limited
  4. News: China's Belle Intl brings in France's LVMH as Hong Kong IPO corporate investor. 2008-12-02. Forbes.com, May 9, 2007. May 9, 2007.
  5. Web site: Belle International Takes the Right Steps. 2008-12-02. China Business Feature, November 8, 2007. dead. https://web.archive.org/web/20111005203216/http://www.cbfeature.com/site/spl/belle_international_takes_the_right_steps/. October 5, 2011.
  6. Web site: Belle said to raise $1.1 billion in Hong Kong IPO. 2008-12-02 . International Herald Tribune, May 16, 2007.
  7. News: Kwok . Donny . Nike, Adidas China distributor Belle warns economy's sag means 2 lean years . 5 December 2023 . Reuters . 27 May 2014 . en.
  8. Web site: Geschäftsbericht 2010. 2021-03-05. https://web.archive.org/web/20110813093856/http://www.belleintl.com/wcms-common/temp/201103071143190280/2010%20Interim%20Report.pdf. 2011-08-13. Belle International Holdings Ltd..
  9. Web site: Belle International Holdings Ltd - Company Profile. 2021-03-05. World Footwear. en-US.
  10. Web site: BusinessWeek Asia 50 Interactive Scoreboard. 2008-12-02. BusinessWeek.com, September 4, 2008. https://web.archive.org/web/20081230074724/http://bwnt.businessweek.com/interactive_reports/asiabw50_2008/index.asp. 30 December 2008. dead.
  11. News: DISCLOSEABLE TRANSACTIONS PROPOSED ACQUISITION OF FULL PROSPECT LIMITED AND FILA MARKETING (HONG KONG) LIMITED. 12 August 2009. 29 March 2011. ANTA. Published by Hong Kong Stock Exchange.
  12. Web site: Belle says sluggish economy to bring 2-year profit squeeze - Business - Chinadaily.com.cn . 2022-06-28 . www.chinadaily.com.cn.
  13. News: Zhu . Julie . China footwear retail unit files for Hong Kong IPO to raise $1 billion . 5 December 2023 . Reuters . 27 June 2019.
  14. News: Murdoch . Scott . China's Topsports raises $1.01 billion in Hong Kong IPO: sources . 5 December 2023 . Reuters . 3 October 2019.