Brand Positioning and Strategy - The company positions itself as "environmentally friendly, comfortable, and suitable for commuting," targeting middle-to-high-income professionals aged 25-45 [12] - In 2019, the company began a brand upgrade, eliminating low-priced items in the 2000-5000 range and expanding products priced around 8000, while testing the 10,000 yuan market [12] - The brand aims to convey a "harmony between heaven and man" philosophy, appealing to a relaxed and leisurely lifestyle, which is considered the true luxury [7] - The company has successfully "symbolized" its brand, similar to how Chanel represents elegance and YSL represents rebellion [7] Market Performance and Growth - The company's sales grew from 20 million yuan in 2007 to 1.5 billion yuan in 2016 [14] - Despite the pandemic, the company achieved sales of 334 million euros (approximately 2.5 billion yuan) in 2020, and a 16% growth in 2021, reaching 425.7 million euros (approximately 3.3 billion yuan) [14] - From 2020 to 2022, the company's revenue growth was between 30%-40%, with 2022 sales estimated at around 4.4 billion yuan [14] - The company's annual revenue is comparable to top-tier domestic women's clothing groups, with even higher growth rates [14] Product and Design Challenges - The company faces criticism for "lack of design" and "selling old styles as new," with increasing negative reviews due to price hikes [1] - The company's pricing control system is under pressure, with discount channels in first-tier cities' outlets and third-tier cities' special sales becoming popular among consumers [1] - The company has been reducing low-priced items and focusing on higher-priced products, which may alienate some middle-class consumers [12] Expansion and Diversification - The company has nearly 270 stores nationwide, with franchise stores more than double the number of directly operated stores [4] - The company has expanded into men's clothing in 2021 and launched a yoga and outdoor capsule collection in 2022 [8] - The company acquired the French luxury brand Carven in 2018 and has been steadily introducing new products and hosting fashion shows [8] Customer Engagement and Community Building - The company organizes fashion, art, and parent-child themed activities, seamlessly connecting clothing with lifestyle, providing social reasons for affluent women [4] - The company's sales staff, similar to luxury brand "counter ladies," maintain personal WeChat accounts with customers, sharing new product information, discounts, and styling advice [11] - The company has been successful in leveraging social media, with live streams on Xiaohongshu (Little Red Book) attracting younger consumers [8] Industry Context and Competition - The company is categorized as a "second-tier brand" in the domestic fashion industry, focusing on brand building and channel development rather than heavy promotion [11] - The company's growth contrasts with other domestic brands like Erdos and Dazzle Fashion, which have faced declining sales and store closures [11] - The company's positioning as a choice for domestic "old money" contrasts with Western luxury brands, which are increasingly associated with the "new rich" and middle class [14]
做“体制内”生意的之禾，没有秘密｜ 商业Friday
36氪未来消费·2024-06-14 03:22