Core Viewpoint - Daphne, once on the brink of bankruptcy, has made a remarkable comeback by focusing on online sales and adapting to market trends, achieving significant revenue growth and profitability in recent years [5][8][37]. Financial Performance - In 2024, Daphne reported a revenue of 322.3 million RMB, a 23% increase from 262.6 million RMB in 2023 [6][8]. - The profit attributable to shareholders reached 106.6 million RMB, marking a 71% year-on-year growth [6][8]. - Operating profit increased by 43% to 96.6 million RMB, with an operating margin of 30% [6][8]. - Cash and cash equivalents rose by 30% to 476.2 million RMB, indicating improved liquidity [6][8]. Market Position and Strategy - Daphne has become a leading brand in the online women's shoe market, ranking first in sales on Douyin since February 2023 [5][8]. - The brand has shifted from a traditional retail model to a "light asset" model, focusing on e-commerce and brand licensing [30][37]. - The introduction of the sub-brand Daphne.Lab targets younger consumers and expands the price range, with products priced up to 1,000 RMB [18][49]. Product Development and Consumer Engagement - Daphne has significantly reduced its product launch cycle, now comparable to fast fashion brands like H&M and ZARA [12][20]. - The brand's successful online strategy includes a robust promotional matrix and the establishment of 152 self-broadcast accounts for live selling [17][18]. - The company has diversified its revenue streams, with licensing fees contributing 39.4% of total revenue in 2024 [21][35]. Challenges and Future Outlook - Despite recent successes, Daphne faces challenges in maintaining brand identity and consumer loyalty, as it relies heavily on brand licensing and low-cost alternatives [41][45]. - The company plans to open one or two physical stores for its sub-brand in first-tier cities to enhance brand presence and consumer experience [49][50]. - The long-term sustainability of Daphne's business model remains uncertain, as it must balance online and offline strategies to meet consumer needs [45][48].
消失的国民女鞋，突然卖到第一