皇冠体育app

People have fun at an indoor water amusement park in Nantong, Jiangsu province, April 30, 2016.[Photo/VCG]

"With the increasing penetration of internet and e-commerce, the competitive landscape of swimwear has changed," said William Liu, chief financial officer at Hosa. "Many new brands have sprung up in the past few years that sell online, offering lower prices and targeting the mass market."

The company, one of the leading local players with 1,000 privately-owned stores across 皇冠体育app, particularly in the first- and second-tier cities, felt compelled to open an authorized e-store through a distributor, to take on online competitors.

Nonetheless, the company notes most customers still prefer to purchase its goods from physical stores, and only 7 percent of its sales last year were from online channels.

In 2015, Hosa generated 1.17 billion yuan in revenue, of which swimwear accounted for 46.5 percent.

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