Firstextile with new Marketing Director
Firstextile AG, Frankfurt (D) is the holding company of the leading Chinese manufacturer of high quality yarn dyed fabrics and has since March 1, 2013 a new Marketing Director
The company hired Wei Chen,holding a MBA from INSEAD (Institute Européen d’Administration des Affairs) and a Bachelor of the Chinese Foreign Affairs University in Beijing. She speaks fluently English, French and Mandarin and has working experience in Europe and Greater China Region. She has over ten years of experience in marketing and branding and has been working four years as Regional Retail Marketing Manager and responsible for 14 Asian countries for Louis Vuitton in Hong Kong. In addition she served two years as International Business Manager with Hermés in Paris (F) and further two years as COO Chief Operating Officer with Shang Xia the Chinese luxury brand from Hermès and was co-creator of the brand.
Firstextile(founded in 2006 and employed in mid 2012 735 people) reported for 2012 a total turnover of EUR 179.5 million (EUR 31.7 million) or a plus of 36.3 %. The total fabric turnover amounted to EUR 113.3 (EUR 101,2) or a plus of 11.9 %, the uniform business contributed EUR 46.7 million (EUR17.9 million) or plus 160.8 % and shirts EUR 19.5 million (EUR 12.6 million) or plus 55.1 %. EBIT amounted to EUR 40.9 million (EUR 28.9 million) or + 41.5 % and net profit was EUR 34.3 million /EUR 23.9 million) or plus 43.4 %. Firstextile’s fabrics had a market share of around 9 % in 2011 in the Chinese market. The fabrics are made into uniforms and delivered to state owned companies and government institutions. The men shirts are sold in the Chinese premium market under the own brands “Varpum” and “Firstextile”. The manufacturing of the fabrics takes place in Jiangtyin, near Shanghai (PRC). The fabric production is at its limit with 36 million meters and an investment in expanding to 72 million meters annually is ongoing. The weaving capacity entails 11 million meters and will expand to 27 million meter and the dyeing capacity will increase from 7900 t to 15800 t.