DGAP-News Joyou AG : Joyou on track with store openings in Q1 2011
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DGAP-News: Joyou AG / Key word(s): Miscellaneous
Joyou AG : Joyou on track with store openings in Q1 2011
03.05.2011 / 08:23
Frankfurt am Main, 3 May 2011. Joyou AG, a leading bathroom solution
supplier in China, opened 81 new points of sale in the first quarter of
2011. This is in line with the company´s plans to open 300 stores during
the full year 2011.
After the extensive increase of Joyou´s sales network in 2010, the
company´s focus is now on increasing sales per store and project business
in 2011. Joyou will concentrate on expanding the store size at some key
locations and on refurbishing many existing stores to accommodate the
increasing product range. In the first quarter of 2010, Joyou had opened a
total of 253 stores.
Most of the new stores (74％) of Q1 2011 were opened in small and
medium-sized Chinese cities (tier 3 and tier 4). 72% of the new stores are
exclusive stores, selling only Joyou branded products. Furthermore, Joyou
opened its first Brand Experience Centre in Hangzhou, Zhejiang province,
which is approx. 1.5 hours from Shanghai. The 800 square meter centre is
the first of several centres that showcase the Joyou brand, products and
history, thereby reinforcing the connection between the brand and its
target consumer.
As at 31 March 2011, Joyou had a network of 3,677 sales outlets throughout
China. Joyou intends to further increase its number of stores to 4,500 by
2013.
About Joyou
Joyou (ISIN DE000A0WMLD8, WKN A0WMLD, Ticker Symbol JY8) is a leading
provider of bathroom solutions in China under its brand name ´Joyou´ and is
also engaged as a OEM/ODM-manufacturer for international brands and trading
companies in the United States and Europe as well as other emerging
markets. In 2010 Joyou was one of the leading single-brand manufacturers of
bathroom, kitchen and other faucets in China in terms of revenues
(according to BSRIA´s China Bathroom Study 2011). Joyou has established an
extensive distribution network in China with 3,596 retail points of sales
as of 31 December 2010.
Joyou´s operating facilities are based in Nan´an near Quanzhou in Fujian
Province in China. Joyou´s nine main product groups sold in its own brand
business are Bathroom Faucets, Kitchen Products, Shower Products, Ceramics
and Bathtubs, Bathroom Cabinets, Bathroom Accessories, Other Faucets and
Sanitary Hardware, Copper and Semi-Finished Components, Grohe Business. In
2010, Joyou realised group revenues of EUR 246.6 million, an operating
profit (EBIT) of EUR 43.7 million and a net profit of EUR 33.2 million.
For further information, please contact:
Joyou AG
Westhafentower, Westhafenplatz 1,
60327 Frankfurt am Main
Ian M Oades, tel.: +49 69 710 456 346 or +86 595-8618 8883, ir@joyou.net
Kirchhoff Consult AG
Jens Hecht, tel.: +49 40 60 91 86 0, jens.hecht@kirchhoff.de
or visit the company website at: http://www.joyou.com
Disclaimer concerning prognoses
This communication contains forward-looking statements. Forward-looking
statements are statements that are not historical facts instead they
reflect Joyou´s current views and expectations and the assumptions
underlying them about future events. Forward-looking statements are subject
to many risks and uncertainties. If any of such risks and uncertainties
materialize or if the assumptions underlying any of Joyou´s forward-looking
statements are proving to be incorrect, Joyou´s actual results may be
materially different from those expressed or implied by such
forward-looking statements. Joyou does not intend or assume any obligation
to update these forward-looking statements. Any forward-looking statement
speaks only as of the date on which it is made.
End of Corporate News
03.05.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP´s Distribution Services include Regulatory Announcements,
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Media archive at www.dgap-medientreff.de and www.dgap.de
Language: English
Company: Joyou AG
Westhafentower, Westhafenplatz 1
60327 Frankfurt am Main
Deutschland
E-mail: ir@joyou.net
Internet: www.joyou.de
ISIN: DE000A0WMLD8
WKN: A0WMLD
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
122643 03.05.2011
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