A Good Start for Year 2024
HONG KONG, May 10, 2024 /PRNewswire/ -- Goodbaby International Holdings Limited ("Goodbaby International" or the "Company"; HKEX stock code: 1086, together with its subsidiaries, the "Group"), a leading global parenting products company, has announced its unaudited revenue performance for the three months ended 31 March 2024 (the "Period"), with revenue up by 2.7% year-on-year to approximately HK$1,892.1 million.
During the Period, the Group advanced with positive momentum. CYBEX achieved outstanding performance recording a strong 14.3% growth in revenue (a 12.3% increase on a constant currency basis) to approximately HK$974.2 million. The brand consolidated its global leadership as a premium "technical-lifestyle" brand. As for Evenflo, maintaining the strong momentum gathered in the fourth quarter of 2023, it recorded a 6.9% growth in revenue (a 5.8% increase on a constant currency basis) to approximately HK$576.8 million for the Period. In addition, with the impacts from customers destocking ending, Blue Chip business continued the strong rebound, which started in the fourth quarter of 2023. And, gb brand continued to pursue commercial right-sizing and brand transformation.
The Group has been relentless in developing products and innovation to cater to strong market demand. CYBEX has continued to innovate, actively upgrade its core travel and safety product categories as wheeled goods and car seats, and set up expanding its shares in all key markets. Evenflo has continuously developed disruptive innovative products in the safety car seat industry. During the Period, it launched America's first modular child and pet travel system designed to fit all in the family, a product that embodies the brand's commitment to creating innovative solutions for today's families. gb brand continued to improve product safety and innovation. The safety products it designed for new electric vehicle manufacturers have won two prominent international innovation awards, which is proof of the industry recognition its products warrant and the brand's industry leadership.
In addition, the Group further diversified and enriched its global omni-channel distribution network. CYBEX recorded strong growth across its omni-channel network, allowing it to offer world-class experience and services to its global fans at every touch point. Having stepped up development of digital channels, Evenflo was not only able to promote positive growth in revenue, but also enhance and enrich consumers' experience, as well as strengthen its overall digital strategy and leadership in the local children's product industry. gb continued to execute its consumer-centric retail strategy and transform its business model in its key China market towards direct to consumer approach leveraging its private traffic and social media influencer resources.
Mr. Tongyou LIU, Executive Director and Group CEO of Goodbaby International, said, "Although the global economic environment remains challenging, we are very pleased to see the Group enjoying positive growth momentum starting the year 2024 based on its market competitiveness. We will continue to pay attention to the dynamics of the macro environment, and actively develop our business capitalizing on the current solid business momentum, so as to continue to provide high-quality and safe products and services to families around the world."
About Goodbaby International Holdings Limited
Goodbaby International Holdings Ltd. (stock code: 1086) 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, apparel and home textile products, feeding, nursing and personal care products, cribs, bicycles and tricycles and other children's products.
For more information, please visit Goodbaby's corporate website: www.gbinternational.com.hk.