SBW-sales target

SEOUL, March 22 (Yonhap) -- SBW Co., a South Korean underwear maker, said Friday that it is targeting 500 billion won (US$448.4 million) in sales by 2015 by expanding its overseas business.

SBW posted 158.7 billion won in sales last year, with operating profit reaching 5.3 billion won and net profit coming to 3.4 billion won.

SBW, which operates its 32 overseas stores in five countries, mainly China, will increase the number of its stores to 350 by 2015, the company said.

In particular, SBW will aggressively increase the number of stores in China to 100 from the current 28, the company said.

SBW opened a store, the first in the United States in December last year, and plans to launch its first Canadian store in September, the company said.

SBW will increase the number of its licensed stores in the U.S. by five each year until 2015 and the number of its directly managed stores in Canada by three during the same period, it said.

"Consumers' awareness of SBW's underwear is very high in China and Southeast Asian countries," an SBW official said. "We will spread such a trend to the underwear market of North America and the Middle East."

This year marks the 50th anniversary of SBW's foundation.

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