At the Fight Against All Odds, Make Legends - 2018 Strategic Outcome Press Release, which was held at Shanghai Tower on February 26th by Bosideng, it revealed its secrets to growth irrespective of a down economy. In 2018, in addition to its popularity in the capital market and a share price increase of 132.8%, the brand won recognition by consumers, and sales of medium- and high-end products went up by over 500%. Retail sales of just one single brand exceeded RMB10 billion.
Over 400 leaders of the industry witnessed Bosideng’s strategic achievements for 2018 and the launch ceremony of the competition strategy for 2019, including Xia Lingmin, Vice President of China National Textile and Apparel Council, Yao Xiaoman, Vice Chairman of International Down and Feather Bureau and Chairman of China Feather and Down Industrial Association, Wang Yao, Vice President of China General Chamber of Commerce, Fan Jun, Executive Vice President and Secretary-General of China Commerce Association for General Mechandise, Ren Xuean, Director of CCTV Asset Management Center, Sha Xiaoli, General Manager, Executive Publisher and Editor-in-Chief of BAZAAR, Xie Weishan, President of Shanghai KMIND Business Management.
Although 2018 is regarded by the capital community as a slow year, Bosideng’s share price increased by 132.8% against all odds, the third biggest increase on the Hong Kong Stock Connect (Southbound) for the trading year. Wang Yao, Vice President of China General Chamber of Commerce, pointed out that Bosden’s rise in 2018 not only outperformed sales of many other clothing brands, but also far exceeded the growth rate of the consumer market. These changes fully demonstrated Chinese brands’ great potential for development.
Gao Dekang, founder, chairman of board of directors and president of Bosideng Group, said that "In 2018, the brand Bosideng roared back and won the attention of mainstream consumers. At the same time, the power of the brand promoted the upgrade of channels and products. Results were ideal."
Zhang Yong, CEO of Alibaba Group, also acknowledged Bosideng's innovation, "Bosideng has a long history. In the face of new historical opportunities, it never stops innovating while looking into the future." Lingmin Xia, Vice President of China National Textile and Apparel Council, said that "Bosideng has led the down clothing industry in overcoming the ups and downs of the market., , and functionally Bosideng has effectively solved the bottleneck of down clothing products by conducting technology-led research and development, improving added value of the products and focusing on the product performance."
According to gathered information, to keep up with market demands, Bosideng teamed up with Shanghai KMIND Business Management in 2018 to implement competition strategy, adhering to the strategic policy of Focusing on main channels, Focusing on main brands, Streamlining and Diversifying. And it keeps optimizing and upgrading its channels, products and communications. Through continuous innovation, Bosideng reinvented its brand value by meeting demands of the mainstream market and achieving growth irrespective of a down economy. At the same time, efforts were made to build quick reaction capability in terms of products. Bosideng is committed to revitalizing the brand with professionalism by integrating global resources, collaborating with internationally renowned designers from the United States, France and Italy, using the same vendors that supply to Moncler, and comprehensively upgrading fabrics, down, accessories and production processes. With regards to channels, it set up stores in core commercial complexities such as Wanda and Yintai. Focus was also put on developing mainstream channels and opening up hundreds of stores, making it more accessible to customers. In the meantime, terminals have also been upgraded to optimize customer experience. Brand value is reinvented when demands of the mainstream market are met.
Gao Dekang is full of confidence for 2019: "In 2019, we will continue to adhere to the competition strategy, accelerate rebranding, and promote high-quality development of the company with the power of the brand. Confidence in brand is the greatest cultural confidence. It is our hope that young people all over the world will take pride in wearing Bosideng from China."