Key Takeaways:
HLA has filed to list in Hong Kong, reporting its net profit plunged 25% in 2024 as its revenue fell 3%
The leading men's clothing maker reported its revenue edged up slightly in the first half of 2025, while its profit continued declining
Back when television was still king and a primary vehicle for clothing advertisers, HLA Group Corp. Ltd. (600398.SH) rode to the height of fashion in menswear on its celebrity endorsements and moniker as "The man's wardrobe." The brand rapidly ascended to industry leadership through its positioning offering clothing for China's "everyman."
Now, the company is hoping to take that everyman appeal to global investors with a planned Hong Kong IPO, as it tries to jumpstart its flagging growth hamstrung by weakness at home, according to its listing document filed with the Hong Kong Stock Exchange late last month.
HLA was the world's second-largest menswear brand by revenue last year, according to third-party industry data cited in the listing document. It was a giant at home, commanding 5.6% of China's menswear market, surpassing the combined share of its next four rivals, and was the only menswear brand to generate more than 10 billion yuan ($1.41 billion) in annual revenue.
HLA's operations are divided into four segments: its proprietary brands, international sports brand cooperations, corporate apparel customization, and urban outlets. Its proprietary brands include its core menswear-focused HLA, the OVV womenswear brand and the infant and children's wear brand YeeHoO.
Valuation peak
HLA was founded in 1988 by Zhou Jianping, who paid 300,000 yuan to a wool mill in East China's Jiangsu province to make his first products. A pivotal moment came in 2002 when ...
