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Before The Hiring Of City Beauty, The Executive Director Of ADI, Xiao Jia Le, Has An Annual Salary Of 8 Million 580 Thousand Hong Kong Dollars Plus 3 Million Shares.

2019/8/20 13:56:00 4

Urban BeautyADI ExecutiveXiao Jiale

The city fast fashion underwear brand, the city beauty (China) Holding Limited company (hereinafter referred to as "urban beauty") announced in August 19th that Zheng Yaonan had resigned as the chief executive officer of the company and became effective since August 19, 2019, but has continued to serve as chairman and executive director of the board and Xiao Jia Le has been appointed chief executive officer of the company since August 19, 2019.


In addition, Lin Zonghong, executive director of the company and vice chairman of the board of directors, has been reappointed as a non-executive director and vice chairman of the company as a result of internal rescheduling and has come into force since August 19, 2019.


According to the announcement, Xiao Jiale is 49 years old and joined Adidas (Sports) China Limited in 2002. He was formerly senior vice president of Adidas Greater China business and was responsible for all business in Greater China. Under its leadership, Adidas's earnings and profits in the Greater China market have recorded steady and substantial growth every year, making Adidas one of the most popular sportswear brands in Greater China. In 2017, Xiao Jiale was named "the top 50 leader of retail elite in Hongkong", with rich experience in sports and fashion retailing management.


Xiao Jiale graduated from Chinese University Hong Kong in 1992 and received a bachelor's degree in social work from the Academy of social sciences. He completed his master's degree in Business Administration from Hong Kong University Science & Technology in 1994. After graduation, he joined the Unilever Hk Ltd.


According to the employment contract, Xiao Jia Le has been the chief executive of the urban beauty since August 19, 2019. The contract has agreed that Xiao Jia Le can earn HK $8 million 580 thousand a year and bonus. In addition, Xiao Jia Le can also get 3 million shares of the award from the urban beauty, who will be assigned 20%, 40% and 40% respectively in 2020, 2021 and 2022.


According to public information, Xiao Jia Le joined Adidas Hongkong in 2002. In July 2007, he took over the new Reebok brand launched in Hongkong, which was bought by Adidas in 2005. In May 2008, Xiao Jiale was promoted to general manager of Adidas Hongkong, responsible for market communication and product procurement. Before joining Adidas Hongkong, Xiao Jiale was a senior sales manager of Unilever Hongkong.


According to public information, the city beauty is headquartered in Dongguan, and has four branches in Beijing, Shanghai, Shenzhen and Chongqing. It is mainly engaged in the design, research, development and sales of high cost performance clothing. The company focuses on the mass market of China's clothing industry, and plans to expand the share of high-end underwear market. The company mainly produces and sells five series of personal clothing products, including bra, underwear, pajamas and home wear, thermal clothing and other (including Bottomwear and tights, vest, socks and accessories), which basically cover the whole category of personal clothing.


Reporters learned from the financial reports that in 2018, the urban beauty realized business income of 5 billion 96 million yuan, an increase of 12.2% over the same period last year, and realized a net profit of 378 million yuan, up 19.3% over the same period last year. Specifically, sales of all kinds of products have increased. The company maintained its four categories of products during the year: bra, underwear, pajamas and household clothes and thermal clothing, earning 2 billion 504 million yuan, 819 million yuan, 652 million yuan and 529 million yuan respectively, accounting for 50.3%, 18%, 11.7% and 10.1% of total income. Among them, sales of pajamas and household products increased significantly, reaching 24.18%.


From the point of view of the channel, joining the distributor is the first income contribution channel for urban beauty, accounting for 55% of the total annual income of 2018. Benefiting from urban beauty who actively promoted franchisees to refurbish stores, its revenue recorded 2 billion 800 million yuan, an increase of 15.1% over the same period, and this is the first time that the channel has recorded positive growth since 2016.


Zhou Xiang, an analyst at Everbright Securities, has said that the business transformation process of urban beauty is worth paying attention to. The reasons are: first, the fast growing market and low concentration of the subdivision market. As the leader of China's personal clothing market, the urban beauty is the seeded player with growth potential in the field of vision. Two, compared with other leading companies in clothing category, the urban beauty has also experienced rapid expansion, and faced many challenges after encountering changes in the market environment. The transformation that urban beauty is experiencing is one of the best models to understand the transformation and upgrading of Chinese clothing leading enterprises in the new situation.


At present, the urban beauty market occupies the first place in China's underwear industry. In 2017, the market share was 2.4%, and the market share in women's underwear industry was 3.2%. The industry pattern is highly fragmented. The CR5 of women's underwear industry is 9.4% in China, while in the United States, Japan and other mature markets, CR5 is above 50%. There is room for market integration.


Zhou Xiang believes that the main direction of urban beauty's future business strategy is to upgrade the overall brand quality so as to capture the faster growth opportunities of China's high-end market. The main purpose is to create a business system around brand power, commodity strength and channel power. We hope to enhance brand positioning to catch up with the faster growth opportunities in the high-end market of Chinese underwear. In particular, the focus of brand power is to enhance the image of the main brand and the cultivation of multiple brands. The main force of commodity strength is the improvement of product R & D capability and the improvement of supply chain. The channel power mainly focuses on improving the quality of the channel network, enhancing the image of the store and improving the consumption experience.


In the view of Zhou Xiang, urban beauty has shown a positive response to the changes in the retail environment. Extensive and scientific methodology has been widely applied to its profound industrial resources, and its team execution and positive changes in corporate culture are favorable for long-term development. At the same time, as a strategic investor of urban beauty, the positive effects of Fosun Group and Tencent, Jingdong and vip.com on the company's future development are also worthy of attention.


Zhang Yidong, vice president of Societe Generale Securities economics and Finance Research Institute, believes that since the second half of 2018, urban beauty will strengthen strategic layout of channels, R & D and cross brand cooperation, and continue to enhance product quality and promote company revenue. The company set up a joint venture with Shanghai kappa sporting goods Co., Ltd. in the first half of 2018, and plans to sell men's clothing and women's sports underwear online. The development of new products is expected to inject new impetus into the company's revenue.


In addition, the urban beauty in the second half of 2018 will join hands with internationally renowned advertising companies and technology teams to create new shopping center stores, cooperate with Tencent to develop intelligent retail stores, and launch strategic cooperation with eleven close clothing suppliers, which is expected to further help the company's business development and brand promotion. From this point of view, the income of urban beauty will continue to grow steadily. The cost control ability will be further enhanced, and the gross profit margin will remain stable. Because of the factors such as R & D investment, brand publicity and promotion, and channel construction, the net profit margin of the company will remain stable.


Zhang Yidong judged that urban beauties will continue to look for acquisitions, shareholding and cooperation opportunities to develop existing businesses and new businesses with synergistic benefits.

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