Lin Tianfu Success Story
Lin Tianfu serves as the Chairman of the apparel and athletic footwear making company, Guirenniao, which went public in 2014 on the Stock Exchange of Shanghai. The listing had raised more than a hundred and fifty million dollars that the company had announced to use for the investments for design, manufacturing, IT and design. The brand, Guirenniao was launched in the year 2002 by Lin and the business chiefly sells products to the second-tier cities of China.
He started with a small business of footwear export in the year 1986. The brand was launched in 2002 and the success of the brand came mainly out of selling the products to the second and the fourth tier cities of the country. The Mainland has proved to be the most important markets for athletic footwear in the world that attracts investors such as Adidas and Nike. Lin was 52 when the company made it to the Shanghai Stock Exchange giving him a sweet spot among the billionaires of China.
It raised a whopping $153 billion in one of the IPOs for the investments in IT, design and manufacturing. The company was founded as a small establishment in 1986 and the brand Guirenniao did not come into the scene before 2002. The brand is essentially engaged with the development, design, research, production as well distribution of sports shoes along with other sportswear. The company is known for providing board shoes, outdoor shoes, sports shoes and pants, T-shirts, wind coats and many more.
The company had to face some struggles during the initial stage of the current year with the fall of the IPO sales by approximately 19 per cent to $162 million. The net profit of the company slid by six per cent to a hundred and sixty four million Yuan or about twenty six million dollars, because of a slack in the industry conditions.
Very recently, the company has reported a share valuation of 12.38 Yuan on a day. The entrepreneur from China had his fortune climbed up over one billion dollars on the day with the shares of the brand climbing 1.1 per cent to a high over six weeks. The company had also plans of establishing an industry investment fund with Hupu.com, one of the best online sports portals as a strategy for establishing an online to offline platform for the sports sector.
The company is based in the Jinjiang area of the Fujian Province. The area is also the place where domestic footwear brands such as Anta, bossed by billionaires like Ding Shizong and Ding Shijia have flourished. It was in the year 2006, that Lin had his passport changed from the mainland to Hong Kong. The company was taken public in 2014 at the Shanghai Stock Exchange. Seventy nine per cent of the shares to Guirenniao are owned by Lin which easily makes one of the richest men in the country.