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Pay Attention To The Annual Report Of Baoxiniao Holding Co., Ltd. (Baoxiniao 002154) In 2021

2022/4/18 18:13:00 0

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The annual report of XINIAO Holding Co., Ltd. achieved a year-on-year growth of RMB 15.451 billion, with a year-on-year increase of RMB 15.41 billion; The net profit attributable to the parent company was 464 million yuan, with a year-on-year increase of 26.70%.

In an interview with the reporter of Securities Daily, the person in charge of the news bird said: "The company continues to deepen its main clothing business, continuously strengthen product research and development, brand and channel construction, and improve the operation quality. On the other hand, the company has strengthened the development of e-commerce and new retail business, strengthened brand promotion and publicity, and the overall operation capacity and efficiency of the company have been improved, and the business income and profitability have increased steadily."

Multi brand matrix enriches growth curve

　　 In recent years, baoxiniao has insisted on building a multi brand matrix to meet the needs of middle and high-end people in different occasions. At present, the company has its own brands, such as baoxinniao, BAONIAO, solo, Henri Glen, dongbolini, and cooperates with Yili te, and is authorized to brand haggis, kemiche and lefeye. Among them, the BAONIAO brand has developed into one of the leading brands of business men's wear in China. Haggis brand is in the leading position in the middle and high-end British leisure style market. BAONIAO brand is a well-known professional wear group purchase brand in China, ranking the top three in the same industry from 2018 to 2020.

The annual report shows that in 2021, the revenue of baoxiniao brand is 1.615 billion yuan, with a year-on-year growth of 26.26%; Haggis achieved a revenue of 1.452 billion yuan, with a year-on-year increase of 17.83%; BAONIAO achieved revenue of 837 million yuan, up 6.61% year on year.

The person in charge of the news bird told reporters: "Baoxiniao brand makes great efforts to become the No.1 suit brand in China by opening large stores to expand categories, focus on the categories of suits, and deeply cultivate the brand brand; haggis brand continues to promote the brand development by opening large stores to expand categories and expand the franchise market; BAONIAO brand actively expands the group's key customers, and adheres to the balanced development of three carriages, namely, direct marketing, agency and major customers In addition, the company has also combined other brands to help the company develop in a high-quality and stable way. "

It is worth mentioning that in December last year, the company's wholly-owned subsidiary, Shanghai dimray, and South Korea's lfcorp The brand license contract has been renewed to authorize the company and demery to produce and sell haggis brand clothing and accessories products in mainland China, and increase the authorization of luggage category.

The person in charge of the news bird said: "In the future, the company will continue to increase the intensity of hajis brand development, based on the first and second tier advantageous markets, increase the expansion of franchisees in third and fourth tier cities, and enhance the overall store scale; promote the development of younger products, multi category and multi series; adhere to the brand shaping and promotion matching the brand positioning, so as to improve the comprehensive customer experience, word-of-mouth and repurchase rate."

Men's wear market scale continues to expand

It is reported that the men's clothing industry where the bird of joy is located occupies a very important position in the whole clothing industry. With the development of China's economy and the improvement of the national income level, men have become more focused on style and fashion, more willing to invest in their appearance, and thus promote the continuous expansion of the men's wear market. According to the forecast of prospective industry research institute, the market scale of China's men's wear industry will increase to 1307 billion yuan in 2023.

Qian Xiangjin, a distinguished professor at the school of management of Zhejiang University, told Securities Daily: "Compared with female consumers, male consumers have less demand for clothing, and their demand is more clear. The main driving factor of men's wear market is the increasing popularity of social activities and leisure trends. At the same time, the promotion of urbanization has accelerated the modernization process of China's emerging cities and spawned many middle-class consumers. At present, most of the core product owners of men's wear enterprises in China It should be positioned in the mass middle-end market, such as Youngor (600177), annunciation bird, seven wolves (002029), jiumuwang (601566), etc., with relatively concentrated brands and fierce competition. "

Although China's men's wear market is expected to maintain a strong growth trend in the future, the men's wear market will continue to show a strong growth trend Qian Xiangjin added.

The reporter learned that China's men's wear industry has a certain scale and formed a unique industrial cluster, including the "Zhejiang School" men's wear industrial cluster represented by Shanghai, Ningbo and Wenzhou in Jiangsu, Zhejiang and Shanghai; The "Fujian style" men's wear industry cluster represented by Jinjiang and Shishi in Southeast Fujian Province; And the men's wear industry cluster in the Pearl River Delta of southern Guangdong Province, which has developed independently with the help of overseas advantages such as Hong Kong and Macao. So how can domestic men's wear enterprises break through the circle in a state of complete competition?

An industry person who did not want to be named told the Securities Daily: "Domestic men's wear brands need to make great efforts in two aspects. On the one hand, they need to further improve their innovation ability and the cost performance of their products. On the other hand, they should make great efforts in product quality and service, so as to improve consumers' repurchase rate through high-end and differentiated services and products, so as to meet the increasingly demanding demands of consumers."