Hua Er Jie Jian Wen·2025-10-23 11:52Group 1 - Bosideng is deepening its high-end fashion narrative by launching the new "AREAL Premium Urban Line" and appointing British designer Kim Jones as the creative director for the series [1] - Kim Jones has extensive experience in luxury fashion, having served as the men's design director at Louis Vuitton for over seven years and later leading Dior men's and Fendi women's collections [1] - The first AREAL collection, featuring over 20 designs for men and women, is set to launch globally in October, with six down jacket products already available on Bosideng's Tmall flagship store, priced between 2399 and 3999 yuan [1] Group 2 - Over the past eight years, Bosideng's main product prices have increased from approximately 500 yuan in 2017 to a range of 1500 to 2500 yuan by 2025, with the high-end series "Dengfeng" even introducing products priced over 10,000 yuan [2] - The high-end market remains dominated by brands like Moncler and Canada Goose, indicating that Bosideng has yet to achieve substantial breakthroughs in this segment [2] Group 3 - Bosideng has extended its high-end strategy into investments and acquisitions, including a joint venture with German luxury sports brand Bogner to introduce its main and sub-lines to the Chinese market [3] - In 2024, Bosideng strategically invested in the Canadian luxury down jacket brand Moose Knuckles, acquiring over 30% of the shares [4] Group 4 - The AREAL series provides Bosideng with new opportunities to expand product wear scenarios and break seasonal limitations, as the company has been developing non-winter markets with lightweight down jackets, outdoor jackets, and sun protection clothing [5] - For the fiscal year ending March 31, 2025, Bosideng's down jacket business achieved revenue of 21.67 billion yuan, a year-on-year increase of 11%, although its proportion of total revenue slightly decreased by 0.4 percentage points to 83.7% [5] - The increase in wholesale and private label business, along with lower gross margins for new sun protection clothing and rising raw material costs, contributed to a 2.3 percentage point decline in gross margin to 57.3% [5]