The Seventh Largest Shoemaker In The United States Is Expected To Make China Its Largest Sales Market Within Five Years
November 11, the seventh largest system in the United States
Jeffrey Swartz, chief executive officer and president of the company, said in an exclusive interview with Reuters that its business in Europe and Asia will maintain strong growth, while its business in the United States will also grow this year
Swartz said that the company plans to increase the number of stores in the world by 50% in three years from about 1000 at present, of which the number of stores in China will double, the number of stores in the United States will increase by about 50, and the number of stores in Europe will increase by about 100
He said that China is currently the fastest growing country in the world and will maintain it in the next three years, at least for Timberland
"We now have 110 stores in China and plan to more than double them in the next three years. This speed is not radical, because I don't want to be radical, and I prefer to think carefully," he said
In terms of sales, China is currently the fifth largest market in Timberland Swartz predicts that China will leap to the second place at least within three years and become its largest market within five years.
Last week, the company reported a net profit of $52.2 million in the third quarter of this year, which exceeded market expectations, mainly due to the strong European business and improved gross profit Revenue rose 2.5 percent to $432 million in the quarter Among them, North America decreased by 3.6%, Europe increased by 5%, and Asia increased by 19.7%.
Swartz predicted that "U.S. business will grow in 2010, which has not happened for several years. If we can achieve even slow growth in North America, it will be a good result."
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