Down jacket maker Bosideng to 'revitalize brand image'
Hong Kong-listed apparel company Bosideng International Holdings said it's seeking to upgrade its retail formats and revitalize its brand image among a new generation of consumers.
The company intends to focus on its core product, down jackets, and will enhance its presence in shopping malls and department stores instead of just relying on distributors.
Bosideng's brand new flagship store on Nanjing Road East will be unveiled by the end of September this year, director of brand marketing Li Chuang told a media briefing in Shanghai on Thursday.
In a bid to rebuild brand awareness, it will place brand advertisement through Focus Media's outdoor ad network, which covers office buildings as well as movie cinemas, with total spending of up to 100 million yuan (US$14.7 million).
In the 12 months ended March this year, Bosideng's profit climbed 57 percent to 616 million yuan, while revenue increased 30 percent to 8.89 billion yuan, recovering from annual profit losses for three consecutive years.
It has also been shutting down physical outlets for business restructuring over the past few years and trying to divest other apparel businesses under the Bosideng brand.
The domestic down jacket market is estimated to be worth 100 billion yuan in 2018, but with other apparel makers and sports brands also entering the market, Bosideng will shift its focus towards the building of brand awareness, products and retail channels to revitalize business.