Revenue Net Profit Double Growth, Bosideng With What To Live In The Domestic Down Jacket Leader?

A few days ago, Bosideng, a listed company, issued the 2019/2020 interim results announcement. Data show: As of September 30th, with the new strategy of "focusing on main channel and focusing on main brand", Bosideng group's revenue net profit achieved double growth, with revenue of 4 billion 436 million yuan, an increase of 28.8% over the same period last year. Gross profit margin was 43.5%, an increase of 1.2 percentage points over the same period last year. Net profit exceeded 342 million 700 thousand yuan, an increase of 36.4% over the same period last year.

Medium term performance to achieve sustained growth

Bosideng semi annual report shows that the brand down garment business is still the largest source of revenue for Bosideng. During the reporting period, the income of the company's brand down clothing business increased by 42.9% over the same period last year, reaching 2 billion 533 million yuan, accounting for 57.1% of the total revenue. This increase is not only higher than that of last winter, but also higher than that of last year.

Zhu Gaofeng, chief financial officer and vice president of Boston Group In interpreting the company's interim results, there are two reasons for the growth of the company's medium-term performance: The growth of the core plate of the company's brand down clothing and the growth of the OEM business segment.

Specifically, During the reporting period, the performance of several major brands of the company increased year-on-year, with the growth of 5.4% in the year and 11.7% in the same period.

In addition, under the background of increasingly complex international trade environment, Bosideng's overseas OEM business unit achieved a growth rate of 21.9% during the reporting period with a revenue of 1 billion 350 million yuan.

Zhu Gaofeng also said that the OEM product performance will maintain more than 20% growth next year. These products are all made by the company to international brands, while Bosideng's main market is in China, so there is no conflict between OEM products and its own brands.

It is understood that Bosideng sales accounted for more than 70% of annual revenue. 。 At the end of the "double 11" Shopping Festival, the sales of the main brands on Bosideng online exceeded 800 million yuan, and the total channel sales exceeded 1 billion yuan, ranking the top in the sales volume of single brand clothing brands in China.

In addition, semi annual data show that In the first half of 2019/2020 fiscal year, Bosideng's online sales revenue of its brand name reached 305 million yuan, up 70.9% over the same period last year.

In the past 6 months, Bosteng is among the best in the "Tmall IN brand". Bosideng's brand strength and quality have been recognized by mainstream consumers online. Tmall flagship store rose from 4.83 to 4.91, and customer satisfaction increased from 93% to 96%.

Functional fashion to strengthen financial integration close

Bosideng, after formulating the strategy of "focusing on the main channel of down jacket" in 2018, continued to grow in volume, and further moved from the domestic market to the international fashion stage, becoming a typical representative of the rise of domestic goods.

As we all know, the sales of down coats are mainly concentrated in winter, and are very vulnerable to weather fluctuations. In this regard, Bosideng, by enhancing the fashion of its products, while ensuring its functionality, enriches its application scenarios through product design, and reduces and weakens the impact of weather and seasonal changes on the sales of down garments. During the reporting period, Bosideng's high-end outdoor series, designer series and so on, relying on outdoor skiing, peak climbing and other scenes, give the product better functionality, fashion and trend.

In addition, in the shaping of brand fashion, through full communication with domestic and international well-known designers, Bosideng was released in 2019. "Extremely cold, starry sky, vast land" The three series of new products combine art with Down garments to make the product "high face value". These measures have extended the attention cycle of the company's products and increased the frequency of consumption.

At the functional level of highlighting the quality of professional down jacket, Bosideng released its "down peak series" high-end down jacket at the end of October this year. The series is composed of many leading design concepts, new technologies and innovative technology. It is made of 489 processes, and the three core functions of "extreme warmth, no fear of extreme environment and professional protection" are redefined.

Today, as the leading brand of China's clothing industry, Bosideng actively participate in the international market, constantly upgrade its international competitiveness with professionalism and innovation, continuously optimize and upgrade products and design, and lead the down garment brand of our country to go abroad and to the world.

What is worth mentioning is that In September 19, 2019, Bosideng became the only Chinese down garment brand to enter the official schedule of Milan fashion week. It won the praise of Oscar, Niicole Kidman, supermodel Kendal and other authoritative fashion media at home and abroad with professional quality. One In January 27th, Bosideng joined hands with French designer Jean Paul Gautiye to issue a joint down jacket. This product was touted by consumers, and many stores even broke the code.

In this regard, Bosideng relevant responsible person said, to consumer demand as the starting point, in order to break the brand and the user's "gap". The designers of Bosideng R & D team will go to the store in person, get in touch with consumers, collect first-hand consumer feedback, and review product design, promotion and presentation programs to maximize the satisfaction of consumers and the hope of products. By the end of September, the total number of retail outlets in Bosideng increased by 533 to 5161 compared to the end of 2018/2019.

Sitting in the domestic down industry

Bosideng has been vowing to be the best brand in the world. According to the insiders, although there have been twists and turns in the development process, Bosideng has returned to the main industry in recent years, and its development momentum is stronger. Now, though faced with Moncler (Alliance Gai), Canada Goose (Canada goose) And so on, the brand competition of foreign down garment brands is constantly coming into the Chinese market, but it can not be denied that Bosideng still sits firmly in the position of the domestic down jacket leader.

"May 24, 1998 is a day worth remembering forever in Bosideng's development. "Gao Dekang recalled in the recent" summit "series press conference. That is the day when the Chinese mountaineering team members fixed the "Chinese Boston climbing team" team flag and the metal card with "Bosideng ranks first in China and challenged the world famous brand" on the Mount Everest item, and from that moment, it achieved the first brilliant achievement of Bosideng in 24 years.

Data show that In 2019, the market size of China's down garment industry reached 118 billion 300 million yuan, an increase of 10.77% over the same period, and a compound annual growth rate of 11.29% in 5 years. Under the background of the upgrading of consumption and the change of consumption concept, the young consumer groups that pursue fashion and quality have become the mainstream of the clothing consumer market. It is estimated that by 2022, the market size of China's down garment industry will reach 162 billion 200 million yuan, and the compound annual growth rate will be 8.21% in the next 4 years.

As the market continues to expand, the down market brand competition in China's market is more intense. Duck feather, Yalu, Eral and other professional down clothing brands, and UNIQLO, GXG, JACK&JONES, ONLY, Taiping bird. And so on. At the same time, including Moncler (Alliance Gai), Canada Goose (Canada goose) and other foreign professional down clothing brand layout in the Chinese market.

Insiders believe that Domestic down garment market will remain fierce competition for a period of time. Unlike Moncler (Alliance) and Canada Goose (Canada goose), the price of Bosideng product line covers more than 1000 yuan to more than ten thousand yuan, providing consumers with more choices.

In addition, because of the increasing attention of consumers to the fashion and high-end of down garments, the brands of Bosideng and other down garments promote functional maintenance of the products while pushing down the feather down to leisure and fashion, and continuously improving the taste of fashion.

Data show that Bosideng's revenue in the 2015/2016 fiscal year was only about 5000000000 yuan. In the 2018/2019 fiscal year, the sales volume of Bosideng down garment business has exceeded 10 billion yuan, and its profit reached 981 million yuan, up 16.92% and 59.44% respectively.

Yang Dayun, a fashion industry investor and excellent international CEO, pointed out that Bosideng, as a leading enterprise in the domestic down garment industry, began to pick up its performance since 2016. In view of the current layout of the Moncler market (China Alliance) and Canada Goose (Canada goose), the Chinese market for "down the ceiling" of the Chinese down garment market is further opened. Therefore, Bosideng aims at the middle and high end down garment market of 1000 yuan ~1500 yuan, which is still in the blank price segment, and improves the proportion of the products in the group, thus gaining market recognition.