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PRESS RELEASE: Powerland AG: Powerland continues its expansion of store capacities according to plan


04.04.13 06:10
Dow Jones Newswires



PRESS RELEASE: Powerland AG: Powerland continues its expansion of store capacities according to plan





DGAP-News: Powerland AG / Key word(s): Miscellaneous
Powerland AG: Powerland continues its expansion of store capacities
according to plan

04.04.2013 / 08:10

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Powerland continues its expansion of store capacities according to plan

- Expansion persists: With 8 new openings, number of stores reaches 188
until end of March 2013

- 40 further new openings planned for 2013

Frankfurt/Main, 4 April 2013 - With 8 new openings, Powerland AG (ISIN
DE000PLD5558 / Prime Standard), the leading Chinese manufacturer of
handbags, leather goods and accessories, continues to expand its
distribution network according to plan. The company has opened 8 new stores
in the first quarter of 2013 and thereby increased the total number of
stores to 188.

The expansion of the distribution network is therefore in line with
expectations. After the number of stores already increased by 16 to a total
of 180 during 2012 and in addition to the 8 new openings during the first
three months of 2013, Powerland plans to open another 40 stores in 2013.
Until the end of 2013, the number of stores is expected to reach
approximately 230, until the end of 2014 around 300.

To this end, the quality of the locations plays a key role: Powerland
conducted its first stringent and rigorous review of its distribution
network in 2012, in order to improve overall store standards and
distribution quality. Furthermore, Powerland continues the strategy to open
stores operated by distributors in prime locations and, increasingly,
self-operated stores. Thus, half of the stores opened in the first quarter
of 2013 are self-operated, namely the airport stores in Ordos and Hohhot,
the store in the Shanghai High-Speed Railway station, and the Wanda store
in Fuzhou, which is wholly owned by Powerland. As at 31 March 2013, out of
the total of 188 Powerland stores, 35 were self-operated stores. Until the
end of this year, this number is expected to rise to a minimum of 50.

Dynamic growth expected in 2013
The Chinese economy is expected to continue to do well in 2013, therefore
Powerland expects another strong performance as the company will benefit
from the growing middle class in China and the current government policy
designed to increase domestic consumption in the country. New store
openings and the continuing extensive brand-building measures will
increasingly contribute positively to the growth of Powerland in 2013 and
the following years.

The delayed publication of the financial statements 2012 as communicated
last week has no impact on the forecasted dynamic operative development of
Powerland.

For more information, please contact:

Powerland AG
Jiangbin He
Investor Relations Director
Lyoner Strasse 14
60528 Frankfurt am Main
Germany
Phone: +49 (0) 69 66 554 - 459
Fax: +49 (0) 69 66 554 - 276
E-mail: ir@powerland.ag
Home: http://www.powerland.ag


End of Corporate News

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04.04.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: Powerland AG
Lyoner Straße 14
60528 Frankfurt am Main
Germany
Phone: +49 69 - 66554-459
Fax: +49 69 - 66554-276
E-mail: ir@powerland.ag
Internet: www.powerland.ag
ISIN: DE000PLD5558
WKN: PLD555
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart


End of News DGAP News-Service
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205973 04.04.2013



(END) Dow Jones Newswires




April 04, 2013 02:10 ET (06:10 GMT)