NANTONG MASTERPIECE TRADE CO.,LTD , https://www.mpheadwear.com
Bosideng released 2016 interim results revenue net profit double increase
In the just past "double 11", set a Bosideng brand sales of 428 million Singapore dollar high. The evening of November 29, Bosideng released interim results report, to achieve revenue, net profit and double growth. Announcement shows that as of September 30, 2016, the contribution of the Group's branded jackets business has risen, achieving double growth in revenue and net profit. As of September 30, 2016, Bosideng net profit of 157 million yuan, an increase of 20.3%, revenue 2.567 billion yuan, an increase of 0.1%, gross margin increased by 3.3 percentage points to 39.4%. Sales of the branded down jackets and non-down jackets increased significantly, at 19.8% and 15% respectively. The non-down clothing brands of the Group continued to focus on adjusting sales channels, digesting inventories and strengthening retail sales. Bosideng men's sales revenue increased by 2.2% to about 100 million yuan. Jesse's revenue rose 6.7% to approximately RMB169 million. The Company acquired the remaining 70% stake in Bangbao Women's Clothing in July this year, contributing 76.32 million yuan to the company's earnings during the period. The market believes that Bosideng inventory and adjust the sales network to try innovative effects have continued to show. Performance gradually stabilized, the overall performance is worth attention. In response, Bosideng Chairman and CEO Gao Dekang said: The domestic macroeconomic is still full of uncertainty, the overall consumer spending and consumer sentiment lack of significant growth momentum, the domestic garment industry is still facing enormous challenges. Bosideng fully aware of the blind development of the past, the consequences of the industry to actively and seriously respond to and improve their business, from the traditional wholesale business model, and gradually move closer to the market and consumer retail model. The Company continued to optimize the retail network, focused on the consumer experience, tried innovations and sought for new growth points and strategic alliances for the Company in order to consolidate the solid foundation and sustainable development of the Company's development. Deep plowing optimization and innovation Two-pronged report, Bosideng during the period in the optimization of inventory and adjust the retail network is still not lax to develop a rigorous production and product planning. Through the above strategy, the inventory turnover days decreased by 11 days as compared with the same period of last year, showing that the Group brought about the results of inventory control. At the same time, we shut down inefficient stores to enhance the quality of our stores. The number of self-operated retail networks increased from 95 to 1789, and the number of third-party operating sales networks decreased by 544 to 3033, accounting for 37.1% and 62.9% of the total respectively. The continuous increase in the proportion of self-owned retail sales showed that Bosideng's efforts in strengthening product control And to enhance the quality of sales and service increasingly big efforts. It is worth mentioning that Bosideng also focus on the business strategy of brand building and image optimization above, in order to gradually improve consumer awareness of the brand. Announcements show that companies in the optimization of all business segments at the same time actively promote brand innovation. Bosideng brand replacement with many years of product trademarks, to improve the appearance of the same time maintaining the elements of the original trademark, the brand change is an important step in the remodeling, but also marks the Bosideng actively establish a market-oriented sales strategy, and given Brand modern image and fashion connotation. In addition, the company added different new products to its products and launched more new product lines to bring freshness to the market. Among them, Bosideng and Walt Disney Company, launched in September this year, Bosideng Disney Series down jacket products, and achieved the ideal market response. Meanwhile, given the increasing consumer demand for high-quality down jackets, the Company also launched a series of high-end down jackets for goose down products to meet market needs and provide consumers with more diversified choices. Horizontal Alliance Introduces Strategic Investors to Promote Multiple Development It is reported that in recent years, Bosideng has been looking for breakthrough opportunities and new growth points in the face of the sluggish domestic garment industry. It actively sought opportunities for new business and foreign alliances, including the active introduction of strategic investments And partners to promote diversified development. In October this year, ITOCHU Corporation, an international strategic shareholder, was introduced through the capitalization of converting 24 billion Japanese yen in shareholder borrowings into new shares. The initial cooperation plans between the two parties include: introducing highly competitive raw materials to enhance the company's brand and product value; strengthening overseas sales markets and e-commerce sales; using ITOCHU's new production base in Southeast Asia to reduce production costs and expand OEM business To seek opportunities to acquire the high-end down jackets brand in Europe and America as well as the baby brand with high growth potential to promote Bosideng's diversified development and learn from the international management experience of Itochu to optimize its internal control and management practices so as to enhance Bosideng's corporate value. According to market analysts, through a series of deepening cooperation with Itochu Group, Bosideng can make use of its rich experience and global resources to strengthen Bosideng's ability in brand management and increase Bosideng's strength in mergers and acquisitions to further expand its business in non-down garments Business, achieve mutual benefits and win-win situation. For the future development of the company, Chairman Gao Dekang said: Bosideng will continue to be pragmatic and positive attitude, enhance internal competitiveness and operational efficiency, and for the Group to lay a solid foundation for sustainable development. In the down apparel business, the Group continued to innovate its brands and products while adjusting its retail network. Through a series of retail transformation improvements, the Group injected new growth momentum into the brand. For the non-down apparel business, the Group will re-evaluate and review the performance and long-term development potential of its brands, adjust the non-down jacket brand portfolio in a timely manner to balance the revenue, resources allocation and the Group's long-term development strategy and develop into a multi-brand integrated Garment operators goal.