August 23 -- China Lilang (1234.HK) reported that its net profit rose 63.1 percent year-on-year to 22,820 yuan while revenue jumped 31.2 percent to 1.032 billion yuan, reports yicai.com, citing a company filing.

China Lilang launched the L2 apparel brand last July, targeting young consumers. Revenue from the new clothing line was 35.6 million yuan in the first half of 2011, accounting for 3.4 percent of the firm’s total revenue. Still, the new brand resulted in a loss of 5.4 million yuan during the reporting period.

China Lilang has 137 stores selling L2-brand apparel in China. The listed company said it will ramp up marketing of the L2 brand for the remainder of this year, an effort that includes increasing the number of stores that sell it to between 150 and 200.

The company said orders of L2 apparel leaped 135 percent year-on-year at its autumn and winter ordering conferences.

Source:capitalvue