(14 November 2017, Hong Kong) Kidsland International Holdings Limited (“Kidsland International” or together with its subsidiaries, the “Group”; SEHK stock code: 2122), the largest toy retailer in the PRC, is pleased to announce that the Company recorded a sales of RMB26 million from online stores such as Tmall, JD.com, etc during “Double 11”, representing an increase of 40% compare to the same day in 2016. Sales of non-Lego brands increased by 46%, accounting for 61.5% of total sales during “Double 11”.
During the “Double 11” shopping festival, flagship stores operated by the Company ranked highest in sales among multi-brand toys stores on Tmall, whereas increase in sales recorded by the Company during “Double 11” is in line with overall sales increase on Tmall this year, as a result of the Company’s overall strategy in balancing sales and profit margin by controlling discount range. Meanwhile, sales in physical stores operated by the Company in the PRC significantly increased by 146% during “Double 11” compare to the same day in 2016.
To capture and export such opportunity to the Hong Kong market, the Company adopted an “11% Discount Promotion” in the two Lego Certified Stores it operates during “Double 11”, which generated a 350% increase in sales as compared to “Double 11” in 2016 (an increase of approximately 250% as compared to average Saturday sales).
Dr. William Lo, Vice-Chairman, Chief Financial Officer and Managing Director Hong Kong of Kidsland International said, “The Group is pleased to see such an encouraging online and offline results in both the PRC and Hong Kong during “Double 11”. In light of this, we will continue to put emphasis on the development of e-commerce. Leveraging on our extensive distribution network, we seek to optimize O2O (online to offline) integrated sales model in the future to enhance customer shopping experience, so as to capture the enormous opportunity arisen from e-commerce.”