Bosideng can be considered king of the category. According to the statistical data of the China Industry and Enterprise Information Publishing Center, the Bosideng Group’s four down apparel brands (Bosideng, Xuezhongfei, Kangbo, Bingjie) achieved a total market share of 40.1% in 2012, ranking the first in the industry for the 17th, but Bosideng What you always wanted to do was not just down jackets.
Tossing Roadmap:
All directions, men's wear, women's wear, children's clothing are all grasping, there is no quality in quantity; simplify the complex, cut down the brand is not effective, focusing on the key; channel changes, for the franchisee to loosen, the store transformation survival of the fittest.
Tossing Dimension: Category Collaboration
Clothing and clothing industry, the daily chemical industry Procter & Gamble, they all like to compete with themselves. Bosideng does not lack the ability to operate, nor does it lack channel capabilities. It is precisely the lack of interest and ability to compete with oneself. The key to breakthroughs in the future is whether or not an interactive branding system can be formed rather than fighting each other.
Bosideng can be considered king of the category. According to the statistical data of the China Industry and Enterprise Information Publishing Center, the Bosideng Group’s four down apparel brands (Bosideng, Xuezhongfei, Kangbo, Bingjie) achieved a total market share of 40.1% in 2012, ranking the first in the industry for the 17th, but Bosideng What you always wanted to do was not just down jackets.
Grouping is the inevitable trend of the maturation and development of garment enterprises, and it is also the next way to achieve growth. For Bosideng, the transition from a single-season commodity to a four-season product structure has been tormented for nine years. From scratch, from less and more, and then to the transition from many to fine.
The first stage: equity investment, borrowing ships to the sea. In October 2007, when Bosideng landed on the Hong Kong Stock Exchange, Chairman Gao Dekang stated that it is necessary to create casual and other seasonal clothing brands, and to acquire Bosideng's brand portfolio by acquiring world-class brands. It hopes that in the next three years, non-down apparel business including casual wear will account for 10% of the company's turnover. In 2008, Bosideng Menswear officially opened two stores in Suffolk and Lincolnshire in the United Kingdom.
The second stage: Helm at the helm and attack on all sides. In March 2010, Bosideng launched the urban fashion style brand BOSIDENGVOGUE, and later launched the high-end menswear brand Weedero. In the same year, Bosideng Holdings casual wear brand Mogao, launched Ruiqi Women. In 2011, Bosideng Holdings, a children's wear brand, spent 890 million yuan to acquire 70% of the female brand Jessie. Flowering on all sides also brings more complexity and trouble.
The third stage: correcting routes, focusing on actual results. In 2012, Bosideng's non-down business entered an adjustment period. Transferred a 51% stake in Shanghai Lanboxing Children's Products Co., Ltd. and temporarily suspended testing in the children's wear field. Bosideng then terminated its cooperation with the street fashion brand, Rockaway, and in addition, its non-down business closed some of its stores. According to the 2012 financial report, the number of stores in its non-down apparel business decreased by 246 from the previous year, including 146 “Bosiden menâ€.
At the end of June 2013, Bosideng announced the first half of 2013: revenue of RMB 9.325 billion, an increase of 11.3% year-on-year, and earnings per share decreased by 25.9% year-on-year, of which non-down apparel business sales decreased by 5.3% year-on-year and accounted for the proportion of Bosideng Group's total revenue. It fell from 16.1% in the previous fiscal year to 13.7%. After the release of the results, Shi Qianlang and several investment institutions lowered their ratings on Bosideng. Obviously, investors are not satisfied with Bosideng's development in the non-down apparel business.
However, there is no problem in the direction of the four seasons of Bosideng, but its strategy is too tortuous. First, multi-brand dilute brand image. In the down market, the Bosideng brand is the leading brand, accounting for more than 60% of all down performance, and requires other brother brands to flanking the attack to protect its market position. The men's wear market is obviously different, especially middle-to-high-end men's wear is not a popular market. The brand matrix of Bosideng men's wear makes the marketing resources, brand image, and product design overly diluted, leaving the market with a big but not strong overall impression. Second, Channel strategy is not clear. The domestic men's wear is divided into Ningbo Menswear men's clothing and Quanzhou Menswear men's clothing two major factions, all of which have occupied important seats in the menswear field through the pre-market accumulation. As a latecomer, Bosideng is difficult to attack all across the board. For quick results, we must open up the market for franchisees to operate. The franchisee's market is more distributed in the secondary and tertiary markets, and even the four-tier market, which conflicts with the high-end market positioning.
Bosideng also realized his own problems and began to make adjustments. Bosideng stated in its financial report in 2012 that men’s wearers had loosened their ordering metrics and shut down some of the poorly-operated stores. At the beginning of 2013, Cheng Weixiong, vice president of the former Meibang Garment, was introduced. Cheng Weixiong led the channel model of “Big City Direct Stores + Small and Medium-sized Cities Standard Stores Joined†by Memphon. Bosideng invited him to join, intending to reinvigorate Bosideng men’s clothing through channel model innovation. . These measures have begun to take effect. Bosideng changed the image of the “wholesale model†to “retail store†and “brand storeâ€, and continued to open new stores while improving the efficiency of single stores. The location of the stores has been close to the clothing wholesale market from the past. Changed to cooperate with department stores and shopping centers to gradually increase brand image. In addition, Bosideng took the Jiangsu and Zhejiang markets as the center in 2013, focusing on direct stores in the second and third tier markets and deepening the regional market. In the past, Kitasato, which was directly operated, was changed to an authorized operation.
Although Bosideng's multi-brand transformation is not a success, it is also a process of re-evaluating oneself and breaking self. In this process, you may experience pain, but you will be eliminated without change. This is the upward force.
All directions, men's wear, women's wear, children's clothing are all grasping, there is no quality in quantity; simplify the complex, cut down the brand is not effective, focusing on the key; channel changes, for the franchisee to loosen, the store transformation survival of the fittest.
Tossing Dimension: Category Collaboration
Clothing and clothing industry, the daily chemical industry Procter & Gamble, they all like to compete with themselves. Bosideng does not lack the ability to operate, nor does it lack channel capabilities. It is precisely the lack of interest and ability to compete with oneself. The key to breakthroughs in the future is whether or not an interactive branding system can be formed rather than fighting each other.
Bosideng can be considered king of the category. According to the statistical data of the China Industry and Enterprise Information Publishing Center, the Bosideng Group’s four down apparel brands (Bosideng, Xuezhongfei, Kangbo, Bingjie) achieved a total market share of 40.1% in 2012, ranking the first in the industry for the 17th, but Bosideng What you always wanted to do was not just down jackets.
Grouping is the inevitable trend of the maturation and development of garment enterprises, and it is also the next way to achieve growth. For Bosideng, the transition from a single-season commodity to a four-season product structure has been tormented for nine years. From scratch, from less and more, and then to the transition from many to fine.
The first stage: equity investment, borrowing ships to the sea. In October 2007, when Bosideng landed on the Hong Kong Stock Exchange, Chairman Gao Dekang stated that it is necessary to create casual and other seasonal clothing brands, and to acquire Bosideng's brand portfolio by acquiring world-class brands. It hopes that in the next three years, non-down apparel business including casual wear will account for 10% of the company's turnover. In 2008, Bosideng Menswear officially opened two stores in Suffolk and Lincolnshire in the United Kingdom.
The second stage: Helm at the helm and attack on all sides. In March 2010, Bosideng launched the urban fashion style brand BOSIDENGVOGUE, and later launched the high-end menswear brand Weedero. In the same year, Bosideng Holdings casual wear brand Mogao, launched Ruiqi Women. In 2011, Bosideng Holdings, a children's wear brand, spent 890 million yuan to acquire 70% of the female brand Jessie. Flowering on all sides also brings more complexity and trouble.
The third stage: correcting routes, focusing on actual results. In 2012, Bosideng's non-down business entered an adjustment period. Transferred a 51% stake in Shanghai Lanboxing Children's Products Co., Ltd. and temporarily suspended testing in the children's wear field. Bosideng then terminated its cooperation with the street fashion brand, Rockaway, and in addition, its non-down business closed some of its stores. According to the 2012 financial report, the number of stores in its non-down apparel business decreased by 246 from the previous year, including 146 “Bosiden menâ€.
At the end of June 2013, Bosideng announced the first half of 2013: revenue of RMB 9.325 billion, an increase of 11.3% year-on-year, and earnings per share decreased by 25.9% year-on-year, of which non-down apparel business sales decreased by 5.3% year-on-year and accounted for the proportion of Bosideng Group's total revenue. It fell from 16.1% in the previous fiscal year to 13.7%. After the release of the results, Shi Qianlang and several investment institutions lowered their ratings on Bosideng. Obviously, investors are not satisfied with Bosideng's development in the non-down apparel business.
However, there is no problem in the direction of the four seasons of Bosideng, but its strategy is too tortuous. First, multi-brand dilute brand image. In the down market, the Bosideng brand is the leading brand, accounting for more than 60% of all down performance, and requires other brother brands to flanking the attack to protect its market position. The men's wear market is obviously different, especially middle-to-high-end men's wear is not a popular market. The brand matrix of Bosideng men's wear makes the marketing resources, brand image, and product design overly diluted, leaving the market with a big but not strong overall impression. Second, Channel strategy is not clear. The domestic men's wear is divided into Ningbo Menswear men's clothing and Quanzhou Menswear men's clothing two major factions, all of which have occupied important seats in the menswear field through the pre-market accumulation. As a latecomer, Bosideng is difficult to attack all across the board. For quick results, we must open up the market for franchisees to operate. The franchisee's market is more distributed in the secondary and tertiary markets, and even the four-tier market, which conflicts with the high-end market positioning.
Bosideng also realized his own problems and began to make adjustments. Bosideng stated in its financial report in 2012 that men’s wearers had loosened their ordering metrics and shut down some of the poorly-operated stores. At the beginning of 2013, Cheng Weixiong, vice president of the former Meibang Garment, was introduced. Cheng Weixiong led the channel model of “Big City Direct Stores + Small and Medium-sized Cities Standard Stores Joined†by Memphon. Bosideng invited him to join, intending to reinvigorate Bosideng men’s clothing through channel model innovation. . These measures have begun to take effect. Bosideng changed the image of the “wholesale model†to “retail store†and “brand storeâ€, and continued to open new stores while improving the efficiency of single stores. The location of the stores has been close to the clothing wholesale market from the past. Changed to cooperate with department stores and shopping centers to gradually increase brand image. In addition, Bosideng took the Jiangsu and Zhejiang markets as the center in 2013, focusing on direct stores in the second and third tier markets and deepening the regional market. In the past, Kitasato, which was directly operated, was changed to an authorized operation.
Although Bosideng's multi-brand transformation is not a success, it is also a process of re-evaluating oneself and breaking self. In this process, you may experience pain, but you will be eliminated without change. This is the upward force.
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