SBB dividends be paid in April ?, page-20

I was discussing this with my missus the other night, as to how and whether it is possible for SBB, who outsources manufacturing, to make such big and consistent margins on their clothing, considering the crowded playing field in China. I emphasis, both BIG and CONSISTENT. Usually you get one or the other, but seldom both all the time. Even with luxury clothiers eg Chanel, Prada, Armani etc, clothing is actually slim margin, sometimes even loss makers, and they reap their profits from things like perfumes (99% margins), handbags, shoes, accessories (70% margin from memory) etc. Remember that next time you spring $5k for the missus on that LV.

SBB is especially puzzling given that I suspect most of their stores are with Wanda and other departmental stores. Things might be different in China, but my experience in Australia, HK, Malaysia, and Singapore is that the departmental stores wont let you make those margins. My missus said that there are some certain circumstances where the wholesaler can get those margins, but it would be rare.

In any case, something for you to think about.