FAST Casualwear AG, a manufacturer of casual footwear and apparel in China, announced Friday that it is preparing its IPO in the regulated market / prime standard of the Frankfurt Stock Exchange in July 2012.
FAST Casualwear is the German holding company of FAST Group, a Chinese group of companies engaged in the design, production and sale of casualwear, consisting of footwear and apparel including accessories.
In the first quarter of fiscal 2012, the company's revenues grew to 21.1 million euros from 16.8 million euros in the previous year. EBIT was 5.5 million euros, up from 2.9 million euros a year ago.
During the quarter, the company opened 19 new retail outlets and aims to add over 100 sales points per year within the next three years.
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