Chinese fast fashion giant eyes Central Asia, Middle East markets
China’s fast fashion brand Hailan Home (HLA) released its financial performance for the first half of fiscal year 2024, reporting a 1.5% increase in revenue to 11.37 billion RMB ($1.57 billion) and a 2.5% decrease in net profit to 1.6 billion RMB ($226 million). As of the end of the period, the Hailan Home brand had 5,908 stores, including 1,314 directly operated stores, representing 22% of the total. Notably, revenue from overseas markets grew by 25% to 161 million RMB ($22 million). In the second half of the year, the company plans to expand into new markets in Central Asia and the Middle East to enhance its market competitiveness and international presence.