After the outbreak, 361 ° (1361. HK) expanded its distribution in IP co branding, and launched QQ flying car and Saint fighter co branding products successively. The mass sports strategy of "taking consumers as the core" has achieved 361 ° to be the first echelon in the domestic sporting goods industry. Now, focusing on "professional collision trend", can 361 ° be upgraded to the next level and capture more consumers' hearts successfully?
Founded in 2003, 361 ° has been focusing on the design, development, production, promotion and distribution of high-performance, innovative and fashionable sportswear products. As one of the leading sports brands in China, the growth of 361 ° has been relatively stable in recent years. However, in the highly competitive and rapidly growing sportswear market, the company has been underestimated by the capital market. In this regard, the company has also strengthened the response to industry changes and consumption trends in recent years, and has taken the initiative to change to win the future market.
361 ° is aimed at young people
In the face of increasingly fierce competition and the potential new outbreak growth period in the post epidemic era, 361 ° has focused its attention on the youth market. How to attract young consumers and improve the product premium ability is the primary task in front of 361 degree. Therefore, 361 ° explored a path of IP co branding integrated marketing. Since 2019, 361 ° has successively cooperated with well-known IP such as Goldstar, crossfire, Pepsi, Xiaohuang, Captain Xiaoyi, shengdoushi, baokemeng and Santi, and continuously launched joint brand products.
The 361 ° IP co branding marketing is first of all targeted target groups. These selected IPS have certain common ground, that is, they are basically used to accompany the growth of the younger generation of IP, which has a strong attraction for young consumer groups. The fans of IP belong to 361 ° target audience. At the same time, the marketing resources are concentrated in the preheating stage. By setting up a limited number of gift box booking mechanism, the topic is heated with the pre-sale information, and the resource drainage is promoted by combining with the online e-commerce platform. Finally, it is the offline linkage, 361 ° through the creation of IP flash stores, and put the products into the trend stores in the prosperous areas of the first and second tier cities, to ignite the topic and promote the hot sale of products.
On August 22, 361 ° x QQ flying car co branded flash store landed in Chengdu! This is the second consecutive year of cooperation with Tencent games after crossing the line of fire in 2019. We will work with Tencent QQ to create joint brand series products to integrate the sports spirit of racing and its surrounding areas.
According to 361 ° insiders, "the sales of IP co branded products have been good since they were launched, which has played a very good role in the overall sales of the company. In the future, the layout of IP co branded products will be strengthened."
On the other hand, the company has also selected athletes from the company as its spokesperson to enhance its brand image. On February 15, 361 ° announced that the official signing of NBA star alon Gordon became the brand spokesman. ***The injection of endorsement resources undoubtedly brings higher attention to the 361 ° basketball strategy. It is reported that Gordon has launched a number of online marketing activities in the Chinese market with 361 ° since this year.
Before that, 361 ° brand had in-depth cooperation with NBA stars Kevin lefoy, CBA stars Stephen Marbury and Jimo freydette. At the end of last year, it signed the CBA Xinjiang captain korambek Makan.
Domestic brand performance shows resilience
Since this year, the new crown pneumonia epidemic has impacted the consumer goods market. In the first half of this year, Nike lost 5.5 billion yuan, ADI lost 2.7 billion yuan in the second quarter, and closed nearly 70% of the global stores. Even the "high cold" andema began to discount greatly, but in the first half of the year, revenue still fell 41%.
However, at a time when the industry is experiencing difficulties, Anta, Li Ning, 361 ° and other leading enterprises have shown strong resilience.
On August 18, 361 ° released the performance report for the first half of 2020. According to the report, 361 ° business revenue was 2.686 billion yuan (* * *, the same below), and the profit attributable to equity holders was about 302 million yuan, both of which declined compared with the same period last year, but the performance was still better than the industry average.
On August 28, 361 ° announced that the company had further bought back the total principal amount of US $2010 million in the open market, accounting for about 5.03% of the total original principal amount of the notes. At present, the total amount of outstanding notes is 294 million US dollars, accounting for 73.50% of the original principal amount of the notes. 361 ° has been engaged in the repurchase of US dollar bonds in the past two years. It seems that 361 ° hopes to reduce this debt before the maturity of the notes, so as to optimize the company's financial structure and save financial expenses.
As a matter of fact, as of 2020, the company's net cash was about RMB 363.5 billion, which was basically the same as that of RMB 30.5 billion. In the face of the sudden epidemic, abundant liquidity has become an important help for the company to resist risks and ensure the company to go through the epidemic cycle, and is expected to help the company to obtain active advantages in the post epidemic era.
Sponsor the Asian Games
Many years ago, 361 ° won the right to partner in sports goods for CCTV's live broadcast of sports events in 2007-08. The slogan "361 ° more love" was launched at this time.
Few sports brands can ignore the huge exposure brought by sports events. Competition marketing is one of the marketing strategies for 361 ° years. Facing the world's highest level professional sports competition, marketing well can not only show the brand's international and professional image, but also achieve its goal of attracting young audiences.
In June this year, 361 ° officially announced to be Hangzhou's official sports apparel partner for the 9th Asian Games in 2022. This is the fourth consecutive support for the Asian Games after the 2010 Guangzhou Asian Games, the 2014 Incheon Asian Games and the 2018 Jakarta Asian Games.
Affected by the epidemic situation, the whole sports industry will suffer a heavy blow in 2020, even the Tokyo Olympic Games will be postponed to next year. However, the epidemic will pass sooner or later. With the return of public life to normal operation, the marketing of large-scale sports events is still a must for sports brands.
For 361 degree, winning the Asian Games, to a certain extent, will give 361 ° the first chance to grasp the commanding heights of the industry. In the battle for IP co branding, the key to the next level of 361 ° is to continue to tell brand stories and let more consumers find and agree with brand value.