For many post-70s and post-80s consumers, the first down jacket in life is Bosideng. However, in the past few years, Bosideng seems to have faded out of the mainstream view and become a "memory of the previous generation" in the hearts of consumers. Since 20 18, Bosideng has started the "screen-dominating" mode frequently. No matter whether it is the only clothing brand selected in the national brand plan, it is difficult to take your eyes off it when you board New York Fashion Week, launch designer co-branded products or implant variety shows.
At present, Bosideng's offline stores are also brand-new, and it is not uncommon to see long queues at the door of the stores. Many hot-selling goods are even sold out online.
During the "Double Eleven" last year, the sales of online Tmall flagship store in Bosideng exceeded 200 million yuan in the first hour, exceeding the total sales of "Double Eleven" in 20 17 years. In the end, in the "Double Eleven" of 20 18, Bosideng ended up with omni-channel sales exceeding 740 million.
Recently, Bosideng, who is positioned as the "best-selling down jacket expert in the world", quietly joined the sports category, which can not help but make people feel amazing with the seasonal changes.
Bosideng's new product is the "light sports" series, which mainly focuses on women's functional clothing, and the price ranges from two to three hundred yuan. Log in to Bosideng official website, and you can also find that both women's wear and men's wear have sports series. However, in this series, we have not seen the "light sports" series products. In Bosideng Tmall flagship store, searching for "light sports" shows 9 products.
In fact, this is not the first time Bosideng has launched sports-related products.
At the end of 20 18, Bosideng teamed up with century cloth GORE-TEX to launch high-end outdoor series down jackets. It is understood that this high-end outdoor series is filled with 800+ fluffy 90% European imported white goose down, which is windproof, waterproof and breathable and can face all kinds of harsh outdoor environments. At present, in Bosideng Tmall flagship store, there are still some high-end outdoor down jackets on sale, with prices ranging from 2399-3799 yuan.
An industry insider believes that from the perspective of down jackets, Bosideng brings high-end outdoor into sight, mainly because of the opportunities brought by the gradual popularization of skiing and outdoor hiking; From the down jacket industry as a whole, Moncler and Canada Goose, which are well known, are not professional sports brands, and there is a gap between such down jacket brands and professional outdoor sports brands such as North China, Colombia and Archaeopteryx. Bosideng hopes to find some development space in them.
Bosideng was founded in 1976, focusing on the design and production of down jackets, continuously leading the product quality of down jacket industry in China, and focusing on down jacket business for 42 years.
1995, Bosideng first tried to introduce fashion design concept into down jacket, which subverted people's inherent impression of down jacket, from "thick, stupid and frustrating" to "thin, light and trendy". This small attempt suddenly opened the door to the market for Bosideng, leaving competitors behind, and the sales volume was the first in the country that year. Since then, Bosideng has maintained a leading position.
Since 2003, it has won the "Biaowang" of CCTV for three consecutive years and has become one of the national brands worthy of the name. At its peak, Bosideng not only established the first national laboratory in China, but also obtained hundreds of patents. In 2006, about one third of down jackets in the world were made by Bosideng. In 2007, Bosideng won the title of the first "world famous brand" in the clothing industry. In the same year, Bosideng successfully landed on the Hong Kong Stock Exchange and became the first down jacket in China. After listing, Bosideng began to optimize the product structure, no longer limited to down jacket items, and actively developed the four seasons strategy.
However, the flowers will never fall. After more than ten years, the clothing market is also undergoing drastic changes.
With the rapid development of the Internet, many traditional enterprises are facing a huge impact, and Bosideng is no exception. The rise of e-commerce has prompted more and more consumers to be keen on online shopping, and Bosideng's offline stores are particularly surplus at this time.
In addition, some foreign brands have begun to flood into the domestic market, such as Zara, Uniqlo and other best-selling fashion brands, which are deeply loved by young people because of their simple and fashionable style. Bosideng's style is old and ugly by comparison, so it is gradually abandoned by young people.
The gradual decline in sales made Bosideng realize that only down jackets were greatly affected by the off-season.
Therefore, in March 2009, Bosideng put forward a three-way strategy, namely "branding, four seasons and internationalization"-launching men's wear series, acquiring a number of men's and women's wear brands, and opening the first overseas store in the most expensive commercial street in London.
Unfortunately, the implementation of this strategy is not as expected, and blind expansion has caused many hidden dangers to Bosideng.
From 20 13, the pressure brought by blind expansion gradually appeared, and Bosideng's performance began to decline. By 20 14, Bosideng's net profit has dropped by more than 80%. According to the financial report data, in 20 12- 13 years, Bosideng achieved revenue of 9.325 billion yuan, a year-on-year increase of1/.32%; In 20 13- 14, Bosideng's revenue decreased 1 1.65% to 8.238 billion yuan, and the profit attributable to shareholders decreased by 35.6% to 695 million yuan.
In order to improve performance, Bosideng chose to close a large number of offline stores.
From April to September of 20 14, Bosideng closed nearly 3,000 down jacket retail stores in just five or six months. By 20 15, Bosideng 1 * * closed more than 5,000 stores, among which the overseas flagship store with luxurious design also closed on 20 17. However, this did not alleviate the decline in revenue. The financial report shows that in 20 15- 16, Bosideng's revenue has dropped to 5.787 billion yuan, and the profit attributable to shareholders is 28/kloc-0.00 million yuan. Compared with Bosideng's financial report when it first went public, although the revenue is similar, the profit attributable to shareholders is less than half of the original.
The change took place at the end of 20 17. Bosideng put forward the plan of "focusing on the main channel and shrinking diversification", focusing on down jacket business in the future and positioning the group as "the best-selling down jacket expert in the world".
So from 20 18, Bosideng introduced a competitive strategy, focused on its main business down jacket while combining its own advantages, and made a heavy combination boxing on brands, products and channels to carry out all-round transformation and upgrading.
On the brand.
While increasing the output of brand value, Bosideng is constantly seeking the recognition of the authoritative platform of the industry to refresh consumers' cognition. Last September, Bosideng presented a series of new products at New York Fashion Week, becoming the only China brand displayed in China. Victoria's Secret Angel alessandra ambrosio personally put on Bosideng's products to open and close the show. Anne Hathaway, "Eagle Eye" Jeremy Renner, Wendi Deng and many other international big-name stars have also appeared.
While expanding the brand's right to speak, Bosideng also actively integrated international high-quality resources, cooperated with former design directors Ralph Lauren, LV and Balenciaga designers, and successively launched international designer co-branded models, which were widely sought after by stars and consumers.
On the product
Bosideng has invested more energy in R&D and innovation, and has successively launched different series of new products such as high-end outdoor series and Italian designer series. And on the basis of existing high-quality products, the fabric, cashmere, wool, accessories and technology are comprehensively upgraded. Its new high-end outdoor series won the outdoor new outdoor 20 19 outdoor equipment award, which is known as the "Oscar in the outdoor field" for its excellent outdoor performance. At the same time, Bosideng also insists on improving the fluffy, waterproof, windproof, breathable, cashmere-proof, warm and other technologies of down jackets. At present, the quality of its products has been on a par with the world's top down jackets.
On the channel
Bosideng invited top French designer Thomas Clemente to create a brand-new flagship store image with a brand-new overall style. In the core business districts of major cities in China, hundreds of Bosideng stores also opened at the same time. Bosideng flagship stores with brand-new images have appeared in national landmark business districts such as Nanjing East Road in Shanghai, Xidan in Beijing, Chunxi Road in Chengdu and binjiang road in Tianjin.
After adjusting the strategy, Bosideng's performance began to pick up.
According to the annual performance report of 20 17- 18 released by Bosideng, as of March 3 1 day of 20 18, Bosideng's revenue was 888 1 billion yuan, up by about 30.3% year-on-year; Total comprehensive income during the year reached 739 million yuan. According to the business division, the brand down jacket business is still Bosideng's largest source of income, reaching 5,656,543.8 million yuan, a year-on-year increase of 23.4%; Bosideng's OEM management business revenue increased by 20.4% year-on-year to 936.8 million yuan, accounting for 65,438+00.6% of the Group's revenue; The income from women's wear business reached 654.38+065.438+53.5 million yuan, up 85.4% year-on-year, accounting for 65.438+03% of the Group's income; The income of diversified clothing business increased by 36% to165438+395 million yuan, accounting for 12.8% of the total income of the group.
For Bosideng's "light sports" products, some insiders think that this is just a play concept, because the down jacket business has a strong seasonality, Bosideng is trying to open up a new battlefield. At the same time, because the competition in the field of sports has already become fierce, the concept of "light sports" is also used to avoid confrontation.
According to the prediction of the third-party research institutions, the sportswear market in China will maintain a high-speed growth of over 10% in the next few years. By 2020, the market size of sportswear will reach 280.8 billion yuan, and it will exceed 340 billion yuan in 2022.
From the market point of view, Nike, Adidas, Anta, Li Ning, Xtep, 36 1 Degree, Skye and other professional sports brands have seized most of the domestic sports market; From the clothing market, Bosideng is also facing the competitive pressure of many brands; From the pricing point of view, Bosideng's price is between the international down jacket brand and the local Volkswagen brand. At least in the short and medium term, Bosideng can't directly grab the share of Canada Goose and Moncler.
It is worth noting that Bosideng frequently introduces sports-related clothing, which seems to run counter to the previous plan of "focusing on the main channel and shrinking diversification". In the eyes of the industry, Bosideng added more sports categories and put forward the concept of "light sports", with the main purpose of seeking new performance fulcrum. In the future, it will take time to consider whether Bosideng's sports products can help the performance to grow continuously.