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Chinese sportswear makers see drop in orders

Chinese sportswear makers see drop in orders Source:
Date: 30-05-2013
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Chinese sportswear maker 361 Degrees International Ltd reported a drop in winter orders of 17 percent, hitting Q1 profits.
Other local sportswear brands have also witnessed a fall in orders and profits.
Fujian-based Xstep saw fourth quarter orders plummet by 15 to 17 percent. Anta, another sportswear brand headquartered in Fujian, also had a five to 15 percent drop in orders in the fourth quarter.
"The sportswear industry has reached maturity," said Ma Gang, an industry analyst.
"Some players need to withdraw from the market so that others can grow."
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