Bosideng men's wear positioning high-end and Lilang to compete in the market
According to Hong Kong media reports, Bosideng, the mainland's largest down apparel company, has set its sights on the mid- to high-end menswear market. This year it will invest 300 million yuan to add more than 300 men's clothing stores. Bosideng will complete the next spring men's wear on Tuesday. At the trade fair, the company expects good growth with a conservative estimate of an increase of 20% to 30%. Chief Financial Officer Mai Runquan revealed that in the first half of 2011 fiscal year (April to September), the same-store sales growth of the men's clothing business recorded a 20% increase. Bosideng Menswear During a media interview in Changshu, Jiangsu Province, Mai Runquan said that since May last year, the group has launched the "Bosideng Men's Wear" brand, which has increased the number of branches by 99 during the year; the group plans to add three hundred to three each year starting this year. The speed of the 150 stores will expand into the men's apparel business, where the first-tier cities will mainly own stores and the second and third-tier cities will develop franchise stores. He continued that as of the end of March this year, the group had nearly 800 retail stores, of which 40 were self-operated stores, 40 were counters for department stores, 100 were franchised stores, and the remaining nearly 620 stores were Eighteen dealers operate. In April of this year, Bosideng men's autumn and winter orders will record orders of 290 million yuan, an increase of about 57% year-on-year. Lisa Lim, director of Bosideng Menswear Directors, revealed that the group’s quarterly ordering meeting has an internal goal of 25 to 30% growth. Glamly stated that due to the huge growth in the down apparel business, the Group is committed to expanding the menswear market, but the overall business share will not change much in the short term. In 2010, Bosideng's menswear business recorded a revenue of 410 million, accounting for 7% of the total, profit of 9%, and a gross margin of 51%. Analysts in the clothing industry generally believe that the growth of the down market in the Mainland has become saturated. Bosideng’s transformation and development of men’s clothing is a good strategy. Because Bosideng men’s clothing is positioned in the mid-to-high end, the price ranges from two to three hundred to tens of thousands. It is expected that the future will be another business casual in the Mainland. Men's Lilang (1234) became a competitor. September 15 Goldman Sachs issued a report stating that it is still optimistic about Bosideng's operations and high interest rates. However, since current prices have reflected the potential double-digit growth in sales from 2011 to 2013, the rating has been reduced from “buy†to “neutralâ€. "." 