With the rapid development of China's economy, consumers' demand for mid-to-high-end underwear has soared. The city's beauty in the domestic underwear industry is considered to be the strongest opponent of Wei Mi's entry into China. In the fiscal year ending December 2017, Urban Beauty's revenue increased by 0.7% year-on-year to 4.542 billion yuan, operating profit rose 37.4% year-on-year to 420 million yuan, net profit rose 31% year-on-year to 317 million yuan, gross profit margin was affected by The increase in raw material purchase prices and the promotion of slow-moving inventory increased slightly to 43.2%. By channel: The Group's main income was still derived from the franchisee channel, with sales falling 3.5% year-on-year to 2.433 billion yuan, accounting for 53.6% of total revenue; Retail channel sales recorded a decline of 6.7% to 1.566 billion yuan, accounting for 34.5% of total revenue; Sales of e-commerce channels rose 73% year-on-year to 543 million yuan, accounting for 11.9% of total revenue. By category: Sales of bra products increased by 11.9% year-on-year to 2.285 billion yuan, accounting for 50.3% of total sales; Sales of underwear products increased by 14.8% year-on-year to 818 million yuan, accounting for 18% of total sales; Pajamas and home service sales fell 18.4% year-on-year to 532 million yuan, accounting for 11.7% of total sales; Sales of thermal clothing decreased by 21.4% year-on-year to 457 million yuan, accounting for 10.1% of total sales; Sales of other products fell 14.5% year-on-year to 447 million yuan, accounting for 9.9% of total sales. Founded in 1998, Metropolitan Beauty is influenced by Wei Mi's successful model in the United States and is positioned as “the first fast fashion underwear brand in Chinaâ€. The products are mainly aimed at young women. In 2012, after Lin Zhiling became the spokesperson of the city beauty, the popularity was improved. On June 26, 2014, City Beauty (China) Holdings Co., Ltd. was listed on the main board of Hong Kong and was called “the first stock of Chinese underwearâ€. As of the end of the reporting period, there were 7,181 stores in the city, among which 1,290 were direct-operated stores, and 5,891 were franchised stores, with a total of 7,250 employees. As the global economic environment has gradually warmed up, the performance of the Metropolitan Group has shown signs of improvement since the second half of last year. The Group emphasizes that China's close-fitting clothing market is huge and there are many consumers, but the market is still scattered and there is still a large market potential. In order to further strengthen its competitiveness, City Beauty took measures to close down loss stores, renovate existing stores, open new stores, and extend to third- and fourth-tier cities and online channels, strictly control operating costs, and reform the supply chain. Communication, logistics efficiency and other initiatives. At the same time, the Group also adopted a more flexible procurement method, increased research and development of new product market and technological innovation to respond to the rapid changes in market environment trends and consumer preferences. Last year, the brand's new non-marking soft steel ring bra, Tai Chi stone mold cup and household clothes made of cationic antistatic fabrics were positively responded by consumers in the market. During the period, City Beauty also signed a cooperation agreement with Fanani (Shanghai) Clothing Co., Ltd. and Japanese listed company Kimuratan Corporation to distribute their baby and children's clothing in China's online channels. According to industry consulting firm Frost & Sullivan, the market for underwear in China in 2014 was about 220 billion yuan, and its market space is expected to reach 500 billion yuan by 2019. Some people in the industry believe that most of the products in the mid-priced city beauty have a certain advantage, but with the globally popular Wei Mi officially laid out the Chinese market last year, the future development of urban beauty may face challenges. In order to better consolidate the market, on May 5 last year, Metropolitan Beauty allotted shares to Fosun International, which subscribed for 240 million shares in 2.5 Hong Kong dollars. After the rights issue, it became the second largest shareholder of Metropolitan Beauty, accounting for 11.18% of the shares. Fosun also signed a performance gambling agreement with the four major shareholders of Metropolitan Beauty, including revenue requirements for urban beauty to increase by no less than 3% in 2017, not less than 6% in 2018, or Compared with 2016, the growth in 2018 is not less than 9.18%. In terms of profit, after deducting non-recurring items, the year-on-year growth in 2017 is not less than 20%, not less than 15% in 2018, or not less than 38% in 2018 compared with 2016. On February 7 this year, Metropolitan Beauty announced that it will establish a cooperation fund with JD.com, mainly for industry mergers and acquisitions and resource integration suitable for the Group's business. According to the main terms, the target size of the cooperation fund is estimated to be 1 billion yuan. In the future, the scale of the fund will be expanded according to actual needs. The initial investment is expected to be no less than 350 million yuan, of which Guangdong Metropolitan is expected to contribute 250 million yuan, while Jingdong is expected to invest 100 million yuan. yuan. Some analysts pointed out that the strong brand penetration of urban beauty and the substantial increase in online sales are important reasons why Jingdong is willing to cooperate with it. According to the data of Jingdong Data Research Institute, from 2015 to the first half of 2017, the sales of women's bras and men's underwear products increased significantly, and the maturity of consumption was higher. The sales volume of women's bras increased by 66% year-on-year. Since the city's power e-commerce channel in 2014, online sales have maintained double-digit high-speed growth, with an increase of 137%, 78.9% and 73% in 2015, 2016 and 2017, respectively. According to the data of the fashion headline network, the number of fans of the city's official flagship store has exceeded 2.99 million. The competitors Ai Mu, Mannifen and Wei Mi's official flagship store in Tmall are 2.38 million, 2.35 million and 155 respectively. Million. It is noteworthy that at the same time as the financial report, Metropolitan Beauty announced that its wholly-owned subsidiary, Tianjin Metropolitan Beauty, has established a joint venture with Shanghai Kappa, a wholly-owned subsidiary of China Dynamics, to produce and sell men's intimate clothing and women's sports underwear in China. The registered capital of the joint venture company is 20 million yuan, Tianjin Metropolis has invested 15 million yuan, accounting for 75%; Shanghai Kappa invested 5 million yuan, accounting for 25%. This also means that the Group will continue to improve the competitiveness of its core products while maintaining its sustainable development capabilities while diversifying. On March 7th, the second series of LadyGoddess, the collaboration between City Beauty and the spokesperson Lin Zhiling, was officially released. CEO Zheng Yaonan said that the launch of the cross-border joint venture is not only the turn of Lin Zhiling from the famous artist to the Designer, but also indicates The urban beauty products have been upgraded and changed again. For the 2018 fiscal year, Zheng Yaonan said that the city beauty will adopt a cautiously optimistic attitude, and sales are expected to recover further under the boost of various measures. Some people in the industry said that as the global fashion industry ushered in a new node of change, the domestic underwear brand represented by the urban beauty, whether it is brand vitality or product quality, has reached the "up cup". As of today's press release, City Beauty's share price fell 0.49% to HK$4.08 per share, and the current market value is about HK$8.75 billion. Editor in charge: Gao Wei
Our sweaters
are made of elastic fabric, which can shrink freely and fit tightly to the
body. Our customers love our sweaters because they not only keep warm and cozy,
but also show off their figures.
T&H INTERNATIONAL TRADING LIMITED , https://www.th-womenswear.com
