闭店上百家！从深圳华强北起步的女装巨头，净利润下跌

Core Viewpoint - Winner Fashion, a mid-to-high-end women's clothing group, reported a significant decline in both revenue and net profit for 2024, despite increased marketing expenditures aimed at boosting brand visibility and sales [2][10]. Financial Performance - In 2024, the company's revenue decreased by 4.68% to RMB 6.589 billion, while net profit fell over 43% to RMB 469 million, a drop of more than RMB 360 million compared to the previous year [2][3]. - The gross profit margin increased by 1.13 percentage points to 76.43% [2]. - The company experienced a reduction of 125 stores during the reporting period, with a total of 1,444 direct retail stores generating RMB 5.172 billion, down 6.97% year-on-year [8]. Brand Performance - Winner Fashion's three main brands, Koradior, NAERSI, and NEXY.CO, accounted for 32.73%, 21.81%, and 15.36% of total revenue, respectively [5]. - Only NEXY.CO saw a slight revenue increase of 0.79%, while Koradior and NAERSI experienced declines of 9.68% and 1.87% [5][4]. Marketing and Strategy - The company increased its marketing expenses by 32.34% to RMB 263 million, focusing on high-profile endorsements and digital marketing on platforms like WeChat and Douyin [9][10]. - Despite the challenges, Winner Fashion plans to enhance its multi-brand, omnichannel strategy and invest in AI-driven fashion design to optimize product development and supply chain management [11]. Store Strategy - The company adopted a strategy of opening larger stores, with nearly one-third of its stores being over 200 square meters, while also facing challenges with a significant reduction in the number of retail outlets [7][8]. - Direct retail store revenue, which contributes nearly 80% of total revenue, declined by 6.97%, reflecting a broader trend of reduced consumer confidence and demand [8].