Core Insights - Jiangnan Buyi's membership contributed over 80% of retail revenue in FY2025, with more than 330,000 members spending over 5,000 yuan annually [1] - The company adopts a designer brand approach, focusing on a unique business model that emphasizes creative themes and design over rapid production [2] - Jiangnan Buyi's inventory turnover efficiency is between 150 to 200 days, which is considered healthy compared to the fast fashion industry [2] - The company achieved total revenue of 5.548 billion yuan in FY2025, a 4.6% increase year-on-year, with net profit rising by 6% to 897 million yuan [3] - The new brand revenue reached 361 million yuan, growing by 107.4%, representing 6.5% of total revenue [3] - Jiangnan Buyi's membership system is designed to create a two-way value cycle between the brand and its members, enhancing brand health and customer loyalty [4] - The "Not Just a Box" service has served over 567,000 members, offering personalized styling through dedicated designers [5] - The company is leveraging AI technology to improve styling accuracy and enhance customer experience both online and in-store [5] - Jiangnan Buyi launched the sustainable brand RE;RE;RE;LAB, focusing on repurposing excess inventory materials into limited edition products [6] - The company emphasizes breaking the constraints of sunk costs in its sustainable practices, focusing on practical outcomes rather than mere compliance [6]
江南布衣： 设计驱动与会员经济助力稳健增长