JEBSEN NEWS

Press release

Corporate

Jebsen maintains focus on core businesses in slowing China economy

2012/08/15
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Drawing on over 100 years of experience to chart course through slowdown
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Jebsen Group (Jebsen), a leading marketing and distribution organisation for premium products in the Greater China region, will remain focussed on its core businesses, as revenue in the first half of 2012 hit HK$6.9 billion, compared to HK$7.5 billion in the corresponding period in 2011.

Despite the slight decrease in its revenue figures, the Group is committed to fulfilling its expansion plans across its four strategic business units for Consumer, Industrial, Beverage and Luxury products. The economic slowdown in China has allowed Jebsen to reassess its priorities and take a measured approach to its investments.

For the Luxury Business Unit, the Group is on track to invest HK$575 million in its Porsche dealership business over the next two years, which includes the opening of Asia’s largest Porsche Centre in Shanghai this year. The focus will be maintained on investing in 4S facilities to better serve customers with improved after-sales services. The first six months has also seen encouraging sales in yachts and watches counter to the industry trend, which has provided added confidence in further developing key brands in the luxury portfolio like Raymond Weil and Fairline respectively.

For the Beverage Business Unit, the Group continues to focus on expanding Blue Girl Beer in Southern China where it has seen a 60 per cent year-on-year growth in sales in 2011. Meanwhile, over 60 events held so far this year have proven successful in sharing wine-related information with Chinese consumers, as more wine events are being lined up in the region.

The Consumer Business Unit, which has started operating from its independent legal entities this year, is now focussed on launching the Dyson brand to the Mainland China market in the last quarter, in addition to its ongoing home beauty and camera-related activities.

The Industrial Business Unit has extended its existing portfolio to introduce a new department covering nutrition and health, a promising area in the Chinese market as the demand for health-related products continues to rise. Automotive component manufacturing is also a keen focus, taking advantage of opportunities presented by the continuing development of key car manufacturers in China.

The Group remains optimistic about “Vision 2015” ― the revenue target of HK$20 billion set for 2015. “As an organisation with a track record of more than 100 years, Jebsen has experienced its fair share of upswings and downturns. In the current climate, we are taking the opportunity to evaluate our position and invest for the future, so that when the economy picks up again we are ready to capitalise,” said Group Managing Director Helmuth Hennig.

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