Core Viewpoint - Jiangnan Buyi (03306.HK) announced that it will hold a board meeting on September 8, 2025, to consider and approve the annual performance for the year ending June 30, 2025, and to discuss the proposal for the final dividend distribution [1] Group 1 - The board meeting is scheduled for September 8, 2025 [1] - The meeting will focus on the annual performance ending June 30, 2025 [1] - The company will also consider the proposal for the final dividend distribution [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本通告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本通告全部或任何 部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 承董事會命 江南布衣有限公司 主席兼執行董事 吳健 香港，二零二五年八月二十七日 於本通告日期，本公司執行董事為吳健先生、李琳女士及吳華婷女士；本公司非執 行董事為衛哲先生；以及本公司獨立非執行董事為林曉波先生、韓敏女士及胡煥新 先生。 （於開曼群島註冊成立的有限公司） JNBY Design Limited （股份代號：3306） 江南布衣有限公司 董事會會議通告 江南布衣有限公司（「本公司」）董事會（「董事會」）謹此宣佈，本公司將於二零二五年 九月八日（星期一）舉行董事會會議，藉以（其中包括）考慮及批准本公司及其附屬公 司截至二零二五年六月三十日止年度之全年業績及其發佈，並考慮建議派發末期股 息。 ...

Summary of Jiangnan Buyi Conference Call Company Overview - **Company**: Jiangnan Buyi - **Industry**: Retail, specifically in apparel and fashion Key Points and Arguments Retail Performance - Retail sales in April and May showed significant growth, driven by the May Day holiday and promotional activities with Xiaohongshu, particularly involving core brands such as Suxie and Less, as well as the early 618 promotion effect [2][3] - Women's apparel performed the best, followed by children's wear and men's wear [2][5] - Online sales adopted a unified inventory strategy, focusing on self-management and a comprehensive membership strategy, leading to an increase in the proportion of new products contributing to overall GPA [2][3] Sales Strategy and Discounts - The overall discount strategy remained stable, with discounts on seasonal products steady and discounts on out-of-season products narrowing [2][3] - The company reported a significant improvement in offline retail in May, with high single-digit growth and positive same-store sales [2][3][10] Store Operations and Channel Strategy - High-tier city direct-operated stores showed significant improvement, contributing greatly to overall performance [2][9] - The transition from self-operated to distribution model has been implemented in the first half of the fiscal year, primarily in cities like Wenzhou, Qingdao, and Wuxi, which may temporarily affect revenue recognition but is expected to have a positive long-term impact if business scales up [2][13] Future Outlook and Product Strategy - The autumn/winter ordering meeting indicated stable growth expectations, with a growing importance of fast-response ordering models [2][14] - Two women's brands have different expansion strategies: GENNBIO focuses on increasing single-store output, while Max has significant expansion potential [2][15] Membership and Customer Engagement - The total membership exceeded 12 million, with continuous growth through member activities and data accumulation to enhance customer conversion rates [3][22] - The company maintains its annual performance guidance, expecting revenue close to 500 million yuan, with profits potentially exceeding previous guidance due to better-than-expected first orders and effective budget management [3][23][25] Inventory Management - The company is not overly concerned about the slightly lower sell-through rate of autumn/winter products, as the product lifecycle is long, allowing for continued sales through online channels and outlet stores [3][26] Children's Wear Expansion - The children's wear segment shows significant potential, with plans to open offline stores for the newly acquired functional children's wear brand On My Game and explore multi-brand children's wear collection stores [3][19][21] Digital Retail Contribution - The mini-program has made a significant contribution to YPD, with high single-digit retail sales growth attributed to this digital channel [3][17] Promotional Campaigns - The 618 promotion strategy this year differed from previous years, focusing on self-management without exclusive e-commerce products or influencer marketing, which has benefited online sales [3][7] Additional Important Insights - The company is exploring new electronic products, with specific developments expected in the next fiscal year [3][21] - The overall health of inventory turnover remains positive, with the company confident in its ability to manage unsold seasonal products effectively [3][26]

Summary of Jiangnan Buyi Conference Call Company Overview - Jiangnan Buyi has shown improving growth rates from low single-digit to high single-digit growth since the beginning of the year, with an expected annual revenue growth close to 5% and profit growth potentially exceeding previous low expectations [2][4][33]. Key Points Revenue and Profit Guidance - The company anticipates a conservative internal guidance for revenue growth at mid-single digits and profit growth at low single digits for the fiscal year 2025, with potential for better-than-expected performance [2][4]. Inventory Management - Promotional events have limited impact on inventory reduction, relying more on online off-season discounts and offline outlet channels. The sell-through rate for autumn/winter products decreased, leading to increased inventory, but the long product lifecycle maintains profitability [2][7]. Brand Strategy - The LESS brand division operates independently, experimenting with the Classita brand. If successful, this model may be extended to other brands to enhance operational efficiency and brand vitality [2][8]. Membership Growth - The company adds approximately 60,000 new members monthly, with a stable increase in membership. High-repurchase-rate members value unique experiences and privileges, such as exclusive events and stylist services [2][9][11]. Discount Management - Discounts improved year-on-year in the first half of fiscal 2025, with expectations to maintain this trend in the second half. Overall discount management is effective, contributing to healthy retail growth [2][14]. Sales Performance - Sales performance in April and May showed sequential improvement, with April experiencing mid-single-digit growth and May exceeding double-digit growth in the first half, although there was a slowdown in the latter half of May [3][4]. Distribution Strategy - The performance of distribution areas slightly outperformed direct sales areas, with high-tier cities being sensitive to economic fluctuations but showing recent improvements. The transition from direct sales to distribution is stable, with no major changes expected in future strategies [5][17][18]. Brand Performance - Different brands within the company showed varied performance, with women's and children's clothing performing better than men's clothing. This trend is expected to continue into the second half of the year [22]. Product Innovation - The company maintains a balance between classic and innovative designs, with approximately 70-80% of products being classic or safe styles and 20-30% being new designs [23]. Future Plans - Jiangnan Buyi plans to open offline stores, starting with pilot locations near its headquarters, and aims to establish single-brand and children's collection stores [28]. Dividend Policy - The company intends to maintain a stable dividend policy, with an expected payout ratio of 75% for fiscal 2025, signaling a commitment to high dividends [5][32]. Overall Development - Despite the broader economic environment not fully recovering, the company has achieved steady positive growth and maintains high-quality development without resorting to discount promotions [33].

欢迎大家参加我们今天江南不一的交流会议那与我一起在会的还有我们的江南不一的阿尔迪安妮总还有我们的同事房租人丁阳雨清那在过去的这个半年报的话我们看到江南不一在这个二五上半财年也就是说自然而然的坚持到二十年的年底整个的业绩表现还是非常亮眼的收入的话是同比有一个5%的增长 那么虽然说相比前面两个台积的话这个趋势上稍微是有所减弱但是要考虑到当时对应大家的自然年的话其实是去年的Q3、Q4但那个时候品牌股市其实普遍是一个下滑的情况 所以我们公司整个的这个表现在这家服务区里面相对还是比较突出的那么其中也有一些这个最新的品牌包括新并购的这个Online Game的表现都是非常亮眼的那么其中的一个详细的情况我还稍后就是请看Emily能够帮我们再简单更新一下然后另外就是想必大家也都很关心今年开年以来就是1到2月份我们这边大概是怎么样的一个表现然后以及后续的发展趋势 我们应该如何去展望所以今天的第一个环节还是先由安德里总帮我们做个简单的介绍然后后面这个QA环节会有提问的机会给到各位投资人下面有请安德里总 谢谢 好的 谢谢杨昕的一些简介我们二五中期业绩的一些表现那我可能先顺着刚才那个问题就先讲一下一二月份的一些情况好了那一般来讲我们 ...

Brand Portfolio and Market Strategy - As of December 31, 2024, the brand portfolio includes the mature brand JNBY, three younger brands (CROQUIS, jnby by JNBY, LESS), and various emerging brands such as POMME DE TERRE, JNBYHOME, onmygame, and B1OCK[4] - The company targets middle- and upper-income customers, providing a broad range of products that create a lifestyle ecosystem, resulting in a large and loyal customer base[5] - The company has expanded its brand portfolio through acquisitions, adding onmygame and B1OCK in 2024, enhancing product diversification and segmentation[5] - The company emphasizes a "JNBY Fans Economy" system, focusing on building a community of fans driven by lifestyle affinity[6] - The company continues to innovate in product offerings and marketing strategies to adapt to changing consumer preferences and market conditions[5] - The Chinese clothing market continues to show diversified consumption trends, with increasing demand for personalized and sustainable products[97] - The company aims to enhance its retail networks and optimize its omni-channel marketing platform through strategic investments in technology and social e-commerce[100] - The company has observed a competitive trend in the designer brand market, with a shift towards leading brands as consumers prefer trustworthy brands that provide quality experiences[99] - The company plans to attract new fans by optimizing its designer brand portfolio through self-incubation or mergers, enhancing design and R&D capabilities[100] Financial Performance - Total revenue for the first half of fiscal year 2025 reached RMB 3,156.4 million, a 5.0% increase from RMB 3,005.9 million in the same period of fiscal year 2024[18] - Gross profit for the same period was RMB 2,056.2 million, reflecting a 5.0% increase compared to RMB 1,959.2 million in the previous year[16] - Net profit for the first half of fiscal year 2025 was RMB 603.98 million, up 5.5% from RMB 572.59 million in the same period last year[16] - Basic earnings per share increased to RMB 1.17, a rise of 3.5% from RMB 1.13 in the previous year[16] - The net profit margin improved from 19.0% in the first half of fiscal year 2024 to 19.1% in the first half of fiscal year 2025[62] - Total revenue for the first half of fiscal year 2025 was RMB 3,156.4 million, an increase of 5.0% from RMB 3,005.9 million in the first half of fiscal year 2024[45] - Revenue from the mature brand JNBY increased by 3.6% to RMB 1,760.2 million, while revenue from younger brands decreased by 2.1% to RMB 1,202.4 million[37] - Revenue from emerging brands amounted to RMB 193.8 million, representing 6.1% of total revenue, with a significant increase of 147.3% compared to the previous year[37] - Revenue from offline channels decreased by 7.7% in self-operated stores but increased by 14.2% in distributor-operated stores, while online channels saw an increase of 11.9%[40][42] Operational Efficiency - The number of standalone retail stores increased from 2,025 as of June 30, 2024, to 2,126 as of December 31, 2024, expanding the sales network across all provinces in Mainland China and eight other countries[19] - Same store sales growth for offline retail shops was recorded at 0.1% in the first half of fiscal year 2025, despite fluctuating customer traffic[27] - Active membership accounts slightly decreased to 540,000 in 2024 from over 550,000 in 2023, with members contributing over 80% of total retail sales[29][31] - Membership accounts with annual purchases over RMB 5,000 increased to over 330,000, generating retail sales of RMB 4.68 billion, up from RMB 4.33 billion in 2023[30][31] - The incremental retail sales generated by the inventory sharing and allocation system reached RMB 648.7 million, an increase of 8.7% compared to RMB 596.8 million in the first half of fiscal year 2024[28] - The Group continues to leverage digital and smart retail channels, which positively impacted same-store sales growth[28] Financial Health and Governance - The company is committed to corporate governance practices, ensuring transparency and accountability in its operations[3] - The asset-liability ratio as of December 31, 2024, was 51.8%, compared to 50.6% a year earlier[16] - The company has no significant contingent liabilities as of December 31, 2024[93] - The company has no bank borrowings secured by assets as of December 31, 2024[92] - The Company has adopted the corporate governance code as per the Hong Kong Stock Exchange's listing rules and has complied with all applicable provisions during the reporting period[113] - The Audit Committee's primary duties include reviewing and supervising the financial reporting procedures and internal controls of the Company[110][116] Cash Flow and Investments - Cash and cash equivalents as of December 31, 2024, were RMB 739.7 million, up from RMB 699.2 million as of June 30, 2024[67] - Net cash inflow from operating activities decreased by 22.2% to RMB 822.6 million compared to RMB 1,057.4 million in the first half of fiscal year 2024[67] - The company incurred net cash used in investing activities of RMB 316,674,000, contrasting with a net cash generated of RMB 48,795,000 in the same period last year[175] - The company reported a significant increase in the purchase of property, plant, and equipment, totaling RMB 96,386,000, compared to RMB 46,583,000 in the previous year[175] Employee and Shareholder Information - As of December 31, 2024, the total number of employees increased to 1,678, with total employee costs for the first half of fiscal 2025 amounting to RMB 276.9 million, representing 8.8% of revenue[91] - The company has adopted a restricted share plan to incentivize senior management, designers, and key employees, with a total of 70,000,000 shares allocated, representing 13.5% of the issued shares, valid until June 30, 2029[138] - A total of 9,520,000 RSUs were granted during the six months ended December 31, 2024, with 140,000 RSUs forfeited or cancelled, resulting in 24,706,300 RSUs outstanding as of December 31, 2024[146] - The weighted average closing price of shares before RSU exercises during the six months ended December 31, 2024, was approximately HK$14.41[150] Interim Financial Information - The report includes a review of interim financial information, which is crucial for assessing the company's financial health and operational efficiency[3] - The interim financial information is prepared in accordance with Hong Kong Accounting Standards and should be read in conjunction with the annual financial statements as of June 30, 2024[184] - There are no new accounting standards or amendments expected to have a material impact on the Group for the interim period beginning July 1, 2024[189] - The Group's activities expose it to various financial risks, including market risk, credit risk, and liquidity risk[198] - There have been no changes in the risk management policies since June 30, 2024[200]

Summary of Jiangnan Buyi Conference Call Company Overview - Jiangnan Buyi focuses on a dual-driven strategy of design and brand strength, maintaining a gross margin of 65% [2][4] - High-value members (annual purchase over 5,000 RMB) reached 330,000, contributing over 60% of offline retail sales [2][4] - The company has a multi-brand scaling strategy with a compound annual growth rate (CAGR) exceeding 8% over the past five years [2][5] Financial Performance - For the first half of FY2025 (July to December 2024), revenue grew by 5% year-on-year, reaching 3.16 billion RMB, with profit exceeding 600 million RMB, a growth rate of 5.5% [3] - The interim dividend is expected to exceed 220 million RMB [3] Operational Strategies - Core operational strategies include a dual focus on design and brand strength, a high-engagement fan economy, and multi-brand scaling [4] - The average transaction value increased to nearly 2,400 RMB in the first half of FY2025 [20] - The main brand GNCO continues to show steady growth, while emerging brands are expected to contribute significantly, with OnMyGame projected to double its GMV in FY2025 [21] Inventory Management - Inventory balance increased due to lower sell-through rates affected by high temperatures and early Spring Festival preparations [9] - Inventory turnover days remain healthy at 150-160 days, with plans to liquidate 95% of excess inventory within three years [10] - Dealers have a policy return rate of about 15%, with some inventory retained for promotions [11] Market Dynamics - Overall retail sales in January and February showed low single-digit growth, with no significant recovery observed post-Spring Festival [6][12] - In-store performance varies by city tier, with first-tier cities performing better than high-tier cities, which are experiencing a decline in foot traffic [13][14] Membership and Customer Engagement - Active membership numbers decreased slightly, attributed to market conditions and consumer behavior changes [16] - The company employs targeted strategies for member acquisition and retention, focusing on high-value members [18][19] Future Outlook - The company remains cautious about acquisitions, evaluating opportunities without a specific timeline [24] - Digital retail is growing, with a focus on multi-channel strategies to adapt to consumer preferences [29] Additional Insights - The company maintains a dividend payout ratio of 75% for FY2025, despite a decrease in operating cash flow [26] - Dealers are generally profitable, supported by a return policy and renovation subsidies [28]

今天的发布会分为两个部分第一部分管理层将针对2024-25冬季业绩投资亮点以及发展策略为我们做深入讲解之后是问答环节现在我把时间交给CFO Brian谢谢 各位投资人朋友及分析师朋友们大家好欢迎来到江南不一二五财年中期业绩发布会的现场我是布莱恩很高兴再次见面今天我跟大家分享一下在二五财年中期的一个业绩表现也希望跟大家能够进一步的互动交流 江南不易已经走过了三十多年在座的各位也有一些是伴随我们多年成长的投资人朋友那么在接下来的介绍中我们还是会从集团概览中期业务表现运营情况ESG理念和实践以及我们的未来发展规划五个维度来进行阐述首先我来介绍一下江南不易的概览因为在座的也有一些是新的朋友 大家都关心江南布伊是一家什么样的公司 未来的发展的方向是什么所以我们应该介绍一下我们江南布伊整个愿景是什么我们想要做一家有影响力的设计师品牌公司那么我们也可以从三个维度去阐述理解我们的愿景 首先是一个艺术探索这是品牌创新的源泉也是我们品牌的一个核心基因不仅驱动着我们不断突破设计的边界更激发着我们以艺术的眼光去审视和创造每一件产品我们对艺术的探索不仅塑造了品牌独特的艺术风格也更让我们在激烈的市场竞争中可以脱颖而出成为引领潮流的先锋 ...

Financial Performance - The total revenue for the first half of fiscal year 2025 amounted to RMB3,156.4 million, an increase of 5.0% or RMB150.5 million compared to RMB3,005.9 million for the first half of fiscal year 2024[4]. - The gross profit for the first half of fiscal year 2025 was RMB2,056.2 million, reflecting a 5.0% increase or RMB97.0 million from RMB1,959.2 million in the previous year, with a slight decrease in gross profit margin to 65.1%[4]. - The net profit for the first half of fiscal year 2025 reached RMB604.0 million, up 5.5% or RMB31.4 million from RMB572.6 million in the first half of fiscal year 2024[5]. - Operating profit for the first half of fiscal year 2025 was RMB826.3 million, an increase from RMB801.6 million in the previous year[8]. - Total comprehensive income for the period was RMB612.7 million, compared to RMB575.6 million in the first half of fiscal year 2024[10]. - Basic earnings per share increased to RMB1.17 from RMB1.13 in the previous year[10]. - Segment operating profit for the six months ended December 31, 2024, was RMB 1,152,918,000, compared to RMB 1,094,318,000 in 2023, reflecting an increase of about 5.3%[78]. - For the six months ended December 31, 2024, profit attributable to shareholders increased to RMB 599,547,000, up from RMB 572,598,000 in the same period of 2023, representing a growth of approximately 4.7%[97]. - The basic earnings per share for the six months ended December 31, 2024, was RMB 1.17, compared to RMB 1.13 for the same period in 2023, reflecting an increase of 3.5%[97]. - The diluted earnings per share for the six months ended December 31, 2024, was RMB 1.16, up from RMB 1.11 in the previous year, indicating a growth of 4.5%[100]. Cash Flow and Dividends - Net cash inflow from operating activities decreased by 22.2% to RMB822.6 million, down RMB234.8 million from RMB1,057.4 million in the previous year[5]. - The company paid dividends amounting to RMB411,973,000 during the period, an increase from RMB322,591,000 in the previous year[24]. - Cash generated from operations decreased to RMB965,209,000 compared to RMB1,185,509,000 in the same period of 2023, leading to a net cash generated from operating activities of RMB822,603,000[22]. - The cash and cash equivalents at the end of the period stood at RMB739,701,000, down from RMB1,095,046,000 at the end of December 2023[24]. - A final dividend of RMB411,973,000 was paid during the six months ended December 31, 2024, compared to RMB322,591,350 in the same period of 2023, marking an increase of approximately 27.7%[101]. Expenses and Costs - Selling and marketing expenses rose to RMB1,020.7 million, compared to RMB939.7 million in the first half of fiscal year 2024[8]. - Administrative expenses increased to RMB271.7 million from RMB246.0 million in the previous year[8]. - Employee benefit expenses increased to RMB276,920,000 in 2024 from RMB234,790,000 in 2023, marking a rise of about 17.9%[79]. - Promotion and marketing expenses rose to RMB262,399,000 in 2024, up from RMB191,781,000 in 2023, indicating an increase of approximately 36.8%[79]. - Total cost of sales, selling and marketing expenses, and administrative expenses for the six months ended December 31, 2024, was RMB2,389,014,000, up from RMB2,236,380,000 in 2023, reflecting an increase of about 6.8%[79]. Assets and Liabilities - Total assets increased to RMB5,095,737,000 as of December 31, 2024, up from RMB4,446,855,000 as of June 30, 2024, representing a growth of 14.6%[12]. - Current assets rose to RMB3,286,740,000, a significant increase of 24.6% from RMB2,638,040,000 reported on June 30, 2024[12]. - Total liabilities reached RMB2,641,050,000, an increase of 18.0% from RMB2,236,682,000[14]. - Net assets grew to RMB2,454,687,000, reflecting an increase of 11.0% from RMB2,210,173,000[14]. - Total equity attributable to shareholders of the Company rose to RMB2,407,922,000, up from RMB2,167,842,000, a growth of 11.1%[14]. - Trade receivables surged to RMB240,832,000 as of December 31, 2024, up from RMB143,928,000 as of June 30, 2024, indicating a significant increase of 67%[125]. - Finished goods inventory increased to RMB1,381,799,000 as of December 31, 2024, from RMB1,087,834,000 as of June 30, 2024, reflecting a growth of 27%[122]. - Trade payables increased to RMB400,545,000 from RMB260,533,000 as of June 30, 2024, representing a 53.7% increase[163]. Financial Risks and Management - The Group faces various financial risks, including market risk, credit risk, and liquidity risk[44]. - The financial risk management policies have not changed since June 30, 2024[50]. - Fair value estimation for financial instruments is based on quoted market prices for those traded in active markets[52]. - The Group's financial instruments include primarily equity investments classified as trading securities or financial assets at fair value through profit or loss[52]. Acquisitions and Business Combinations - The company completed a business combination under common control, resulting in a consideration paid of RMB1,672,000[24]. - The Group completed the acquisition of Hangzhou OōEli Brand Management Co., Ltd. for a cash consideration of RMB1,672,000 in November 2024[179]. - The acquisition of OōEli was accounted for using merger accounting, with no goodwill recognized due to common control[180]. - The revenue for the Group was restated to RMB3,005,941, reflecting an increase of RMB30,399 due to the business combination[188]. - Gross profit was adjusted to RMB1,959,212, with an increase of RMB11,478 from previous reports[188]. Accounting Standards and Compliance - The interim financial information for the six months ending December 31, 2024, is prepared in accordance with Hong Kong Accounting Standards[34]. - There are no new accounting standards expected to have a material impact on the Group for the interim period beginning July 1, 2024[41]. - The Group's significant judgements and estimates in preparing interim financial information are consistent with those applied in the consolidated financial statements for the year ended June 30, 2024[43].

Summary of Conference Call Records Company Overview - The conference call involves Jiangnan Buyi, a company in the fashion industry, particularly focusing on mid-to-high-end women's clothing. Key Points and Arguments Sales Trends - Sales performance showed a significant decline in the first quarter (July to September) with a three-digit drop, attributed to weak consumer sentiment and high temperatures affecting autumn clothing sales [1][2] - October sales improved with a 15% increase, driven by promotional activities leading up to Double Eleven [1][2] - December is expected to perform well due to the upcoming Spring Festival, with increased consumer willingness to shop [2] Consumer Behavior - The worst consumer traffic was recorded from July to September, with a slight recovery noted in October, likely due to cooler weather [2] - The company is focusing on enhancing customer experience and loyalty through refined membership operations and product quality [1][2] Pricing and Discounts - The company maintains a cautious approach to discounting, avoiding deep discounts that could harm brand integrity [3][4] - Current discount rates are stable, with seasonal products seeing a discount of around 60% for last year's items [3][4] Strategic Focus - Jiangnan Buyi emphasizes a dual strategy of design-driven and brand-driven growth, with a stable design team of approximately 70 designers [5][6] - The company has implemented a robust training program for sales staff to enhance their selling capabilities and product knowledge [19] Membership and Customer Engagement - Membership has grown from 510,000 to 550,000, contributing to 80% of total revenue, indicating effective customer retention strategies [19] - The company offers a ten-year repair service for products, enhancing customer loyalty and engagement [12] Brand Development and Acquisitions - The company has acquired a functional children's sportswear brand, OMYGAME, and a designer brand store, Brock, to expand its portfolio and market reach [18][19] - The acquisition of Brock is expected to enhance brand visibility and provide access to international designer brands [18] Market Positioning - Jiangnan Buyi aims to capture more market share post-pandemic, with a focus on product innovation and brand differentiation [16][17] - The company is closely monitoring competitors and adapting strategies based on market trends and consumer preferences [17] Future Outlook - The company plans to continue investing in brand strength and customer experience, with expectations of sustainable growth across its various brands [15][19] - The focus will remain on enhancing operational efficiency and refining marketing strategies to attract new customers while retaining existing ones [19] Additional Important Content - The company has established a dedicated PR department to manage public relations and mitigate potential negative publicity [13] - There is an emphasis on maintaining a balance between creative freedom for designers and product stability to avoid public backlash [13][14] This summary encapsulates the key insights from the conference call, highlighting the company's current performance, strategic initiatives, and future outlook in the fashion industry.