Buffett loves to create a large brand of men's wear by creating a 70% surge

"Stock God" Warren Buffett

Recently, at the opening of the 20th Dalian International Costume Festival, a large-screen video of Buffett’s blessings was sent repeatedly for the creation of a suit. Every 3 minutes or so, Buffett would say "I have nine suits made in China. I will throw away the rest."

Buffett's choice is the market leader, whether he chooses a stock or a suit. Because of Buffett’s shareholding, BYD has risen more than 800% year-round; because Buffett’s video blessing for a period of about three minutes, the stock price of China's clothing manufacturer, Dayan Genesis, soared 76% in the last 12 trading days.

On September 21, Da Yang made an announcement to clarify: On August 25, the company received a three-minute DV video from Buffett. This video is a congratulatory message from Buffett for congratulating the company's controlling shareholder, Dayang Group Co., Ltd. on its 30th anniversary. It does not involve any commercial activities.

How is the relationship between Buffett and Dayang created? The "Wall Street Journal" published on the 23rd made a reduction.

In May this year, Buffett invited Li Guilian to participate in Berkshire Hathaway's annual general meeting of shareholders. The two met again. In this picture, Buffett wore a suit of creation and embraced Li Guilian enthusiastically.

People with real money and power in the Morning Post no longer wear Brioni, the top menswear brand in Italy. They wear the "Trands" suit.

The not-so-obvious men's brand was founded by Dalian Dayang Enterprise Group. Li Guilian, a 63-year-old woman who founded the clothing company in Dalian, has now become a fashion tycoon.

The Dayang website posted a promotional video on September 10. In the video, Warren Buffett, chairman and chief executive officer of Berkshire Hathaway, appeared. This video brought a great boost to Li Guilian's company. Buffett highly praised Li Guilian, Dayang and his nine creation suits in the video.

Although never known as a fashionista, Buffett said that the creation suit changed his image. Buffett praised the creation suit in his office this week. "It's very comfortable. Everyone said that I'm well dressed." He said, I lived up to 78 years old before someone praised me for the appearance.

Buffett said he did not hold shares of Dayang. He said that he especially likes new anti-wrinkle suits. Buffett said that even if I go out and wear them every day, they will not wrinkle. Buffett also said that he had already donated his old suit to charity.

The video was recorded at the request of Li Guilian. It was to mark the 30th anniversary of the establishment of Dayang Yang. Buffett said in the video that he has recommended the brand to Berkshire Hathaway’s business partner Charlie Munger and Microsoft founder and billionaire friend Bill Gates.

Da Yang also has another famous customer--the president of the country Hu Jintao. Dayang spokeswoman Zhi Yong said that Hu Jintao started wearing a creation suit from the end of 2005. Da Yang’s official history introduction includes a photo of Hu Jintao wearing a Genesis suit.

"It's a bit too close"

Li Guilian and Buffett have occasionally established friendships, although this friendship seems a bit unimaginable. Li Guilian said that this should be thanks to "fate". This feeling between us is sincere. Li Guilian is not tall and has natural hair. She wears dark colors, with amber glasses and a string of pearls.

Two years ago, Buffett came to Dalian to participate in the opening ceremony of a new plant of Iscar Metalworking, an acquisition of Berkshire Hathaway. A friend of David Margalit, director of global marketing at Dayang, works at Iscar's management. Margaret had a chance to suggest Buffett's creation of a tailored suit.

Buffett said, I was only five minutes into the hotel and two people rushed into my room. "I haven't understood it yet. They started to put a ruler around my lap. For me, this It's a bit too intimate. But after they brought the clothes, I didn't feel that there was a slight fit."

Buffett admits that his understanding of menswear is less than his investment skills. He said that I am not keen to buy clothes, but this is a perfect solution, "I like these clothes, of course, not only because they are free."

Another reason why the “Creation” brand attracted Buffett was the story of the wealth creation of Chairman Li Guilian of Dayang.

Li Guilian’s story of “Get Rich from a Poor Child to a Clothing Tycoon” attracted Buffett. She was born in a peasant family and grew up in Yangshufang Town, an hour's drive from Dalian, Liaoning Province. When she was a child, she lived in brick-broken houses and had geese in her front yard. She began farming at the age of 18 and soon emerged from the peasants to become the party branch secretary with a 2000 production team.

In 1979, she made a loan of 30,000 yuan to create a collectively-owned township enterprise, Dayang Group, and built an assembly line with 85 employees and dozens of sewing machines contributed by neighbors. The factory initially produced simple items used by rural people like Li Guilian, such as tablecloths, aprons, and sleeves. Li Guilian, who painted a pink rose on her nails, told reporters that our skills are low but the goal is high.

Subsequently, the company started to produce simple work clothes and gradually introduced more complicated clothing while signing agreements with overseas customers.

In 1995, Dayang launched its own flagship brand "Creation" men's clothing. Today, Da Yang has 15,000 employees and produces 10 million garments each year.

Gates also wears "Creation"

Buffett quickly fell in love with Li Guilian and her suit. In a letter to Li Guilian dated November 27, 2007, he wrote, "I received two suits from David yesterday. It fits perfectly and looks great. I have never been so fond of suits. ”

In May this year, Buffett invited Li Guilian to participate in the Berkshire Hathaway company's annual shareholders meeting held in Omaha, Nebraska. The two met again.

Buffett said that afterwards, the "Creation" suit also tailored suits for four Berkshire Hathaway directors. They are Bill Gates, Charles Munger, Director of International Broadband Infrastructure and Communications Corporation. Ronald Olsen of Long and Small Scott and Munger, Tolles & Olson.

Li Guilian does not speak English. She likes to pinch the arm or hand of a person standing next to her. She said she did not expect Buffett to be so enthusiastic.

Even after 14 years of creation, "Creation" was not very famous in China, at least until Buffett began to publicize it. The 20 stores of “Genesis” are concentrated in second-tier cities in the north, such as Dalian, Shenyang, and Taiyuan; “Creation” clothes are expensive. The cheapest is about 6,000 yuan (US$880). The most expensive suit made with fine cashmere is 20,000 yuan.

Li Guilian Resume

Born in 1946, he is currently Chairman of Dayang Group Co., Ltd. Senior economist, expert enjoying special government allowances, seventh, eighth, ninth and tenth national people's congress deputies and famous entrepreneurs of the country.

Participated in the work in August 1964. He once served as director and party branch secretary of Yang Shufang Garment Factory, director and party branch secretary of Xinjin County Garment Industry Plant, general manager and party committee secretary of Dalian Yangshufang Industry Corporation, director of Dayang Enterprise Group Corporation. Bureau chairman and president, party committee secretary.

Won the "National Best Farmer Entrepreneur", "National Outstanding Female Entrepreneur", "National Outstanding Township Entrepreneur", "National Model of Female Entrepreneur in Township"; in 1997 won the "Bauhinia Cup China Outstanding Entrepreneur Achievement Award"; In 1994 and 2002, they were twice named by the Ministry of Agriculture as “Chinese Township Enterprise Achievements”. In 1989 and 1995, they were awarded the title of “National Model Workers” by the State Council.