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Itochu finds hope in alliance with China's Citic in apparel

Japan trader still faces challenges in FamilyMart-branded retail operations

Partnership with Citic is the most high-profile symbol of Itochu's commitment to the Chinese market.(Source photo by Reuters) 

TOKYO -- China Inc. is reeling from the devastating pandemic that has squashed domestic consumer spending. But Bosideng International Holdings, China's biggest down-clothing maker, remains unruffled. It is reporting record earnings despite the clouded business climate.

Bosideng, a Chinese transliteration of "Boston," announced that yearly sales through March grew 17% from the previous year to a record 12.2 billion yuan ($1.74 billion), pushing up net profit 23%. "We've been successful even in this sluggish market," a Bosideng executive said.

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