In 2015, Hongkong Men'S Wear, Li Bang'S Turnover Fell By 27%.

Cerruti 1881 is one of the international men's wear brands operated by Li bang.

Hong Kong

group

Trinity Limited warned on Wednesday that it was expected to increase its operating profit in the first half of June 30th as compared with the same period last year. It was reported that Li shares fell 3.390% to HK $0.57 this morning, and the market value of the company has fallen below HK $1 billion.

Li said its performance was affected by Hongkong and Macao.

The sluggish state of influence, as well as the general sales discount and the crackdown on consumer confidence in mainland China.

Li state warned that its annual loss will be more serious than the same period in 2015.

The company expects to release data in the first half of August.

Because of the general weakness of the Asian men's wear market, Li Bang has been troubled by its achievements in the past few years.

For the year ended December 31st, the company reported a net loss of HK $89 million (US $11 million 450 thousand), with a turnover of 27% to HK $1 billion 900 million (US $244 million 510 thousand), while profits and revenues in 2013 and 2014 declined.

Earlier this month, Richard Cohen had resigned from the position of CEO, the latest management and corporate strategy change.

Jeremy Paul Egerton Hobbins has become a successor, who has been the head of many companies in Hongkong Lifeng group, the parent company of Li bang.

Jeremy Paul Egerton Hobbins pointed out: "in such a bad market environment, the restructuring of senior management and operational structure will be adjusted to optimize production, inventory management and supply chain.

Due to these changes, the Group expects to produce related costs in the second half of this year, and the performance prospects are not optimistic.

Founded in 1969, Li Bang holdings is a high-end male clothing retailer of Hongkong Lifeng group, which serves mainly in Greater China.

In order to reverse the situation, the group accelerated the construction of the international creative team. The company made a comprehensive adjustment to the three main force men's brand Gieves, Hawkes, Cerruti 1881, Kent & Curwen.

Most notably, in September 2015, the group announced a five year exclusive agreement with Beckham to promote the global business of Kent & Curwen in different areas.

At present, Li Bang operates six international men's wear brands, namely, Cerruti 1881, Altea, Gieves & Hawkes, D 'urban, Intermezzo and Kent & Curwen, among which its own brand Kent & Curwen, Kent 1881, and & T.

As of December 31, 2015, the number of shops in the group was 349, compared with 399 in 2014 and 50 closed.