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Positive Revenue Growth Achieved in all Strategic Brands
HONG KONG, May 12, 2021 /PRNewswire/ -- Goodbaby International Holdings Limited ("Goodbaby International" or the "Company", HKEX stock code: 1086, together with its subsidiaries, the "Group"), a globally leading parenting products company, today announced its unaudited revenue performance for the three months ended 31 March 2021 (the "Period"). The Group generated a record first-quarter revenue, which grew by a robust 27.2% year-on-year (YoY) (19.5% on a constant currency basis), amounting to approximately HK$2,084.9 million.
During the Period, CYBEX brand continued its strong revenue growth momentum, reaching a growth rate of 38.7% (27.4% on a constant currency basis) YoY. Its strong brand position and product portfolio (in both car seats and particularly wheeled goods), fortified global operations and the continuous launch of new products and categories of CYBEX contributed to the strong revenue growth across all key global markets, where the respective market shares also continued to expand.
gb brand revenue performance during the Period achieved positive results with a growth rate of 20.4% (10.7% on a constant currency basis) YoY overall and a growth rate of 30.2% (19.4% on a constant currency basis) in its key China market. This achievement was primarily driven by revenue growth realized from the recovery of its self-owned retail traffic and sales. gb continues to modernize and enhance its overall brand image and invest resources toward product development and innovation in both durable and non-durable products.
Evenflo brand revenue performance recovered and achieved 5.9% YoY growth (4.0% on a constant currency basis) during the Period, primarily driven by continued positive consumer reaction to new product launches and to the overall improvement of the macro environment with a stabilizing political situation and positive consumer behaviors due to the stimulus relief efforts.
Blue Chip business revenue was at approximately HK$265.5 million, representing an impressive revenue growth of 68.4% YoY (61.6% on a constant currency basis), primarily driven by increasing orders from its customers. The Group's Blue Chip business remains stable.
During the Period, the Group's revenue from other business, including the Group's tactical brands and retailer's private label business, was approximately HK$96.4 million, recorded an 27.2% YoY increase (20.2% on a constant currency basis), mainly driven by the recovery of business from the COVID-19 impacts and positive results of portfolio optimization.
With the gradual distribution of vaccines to combat COVID-19 and the preliminary signs of stabilization in both economic and political environments in the key markets, the Group is encouraged by its momentum. It remains confident in the focused strategy of the core Strategic brands of CYBEX, gb and Evenflo and the development of the Blue Chip business. Nevertheless, as the global economy recovers, the Group remains diligent to the ongoing headwinds in global supply and logistics chains and continues to implement proactive measures to minimize any remaining and unexpected impacts from COVID-19.
For more details, please refer to the announcement:
About Goodbaby International Holdings Limited
Goodbaby International Holdings Ltd. is a world leading parenting products company. The Group serves millions of families around the world through design, research and development, manufacture, marketing and sales of children's car safety seats, strollers, apparels and home textile products, feeding, nursing and personal care products, cribs, bicycles and tricycles and other children products.
SOURCE Goodbaby International Holdings Limited