Core Viewpoint - The company aims to implement a "10,000-store plan" as part of its 5.0 new retail strategy, targeting the establishment of 1,000 community lifestyle stores within the year and 10,000 stores in the next 1,000 days, with a strong belief in the feasibility of this goal [4][5]. Group 1: Store Expansion Strategy - The company has already signed contracts for 100 stores since the beginning of the year, with over half currently under renovation [4]. - The expected sales structure for the new stores includes 50% generating around 3 million yuan, 20% around 5 million yuan, and 20% between 7 to 8 million yuan, with approximately 100 stores expected to exceed 10 million yuan in sales [4]. - The company emphasizes a gradual approach to achieving the 10,000-store target, acknowledging that the final number may vary based on practical outcomes [5]. Group 2: Market Focus and Franchisee Support - The company is prioritizing the return on investment for franchisees and aims to tap into underdeveloped markets with significant fan bases [6]. - A recent example highlighted a franchisee in a lower-tier city achieving 300,000 yuan in sales within five months, showcasing the potential for quicker returns compared to first and second-tier cities [5][6]. Group 3: Retail Challenges and Solutions - The company recognizes the challenges in the apparel industry, such as customer acquisition, inventory management, and return rates, and believes its 5.0 new retail model addresses these issues effectively [7]. - By integrating online platforms like Douyin and Meituan, the company facilitates customer engagement and reduces return rates by allowing customers to redeem vouchers instead of returning products [7][8]. - The company aims to streamline inventory management by reducing circulation steps and directly delivering products from factories to stores, thereby minimizing costs and risks [8]. Group 4: Inventory Management and Product Strategy - The company targets a total product turnover of 50 days, with individual store turnover around 20 days, to maintain freshness and minimize risks for franchisees [8]. - The company plans to keep seasonal inventory below 10% and has established a management framework to ensure the availability of popular items while clearing out slow-moving stock [8]. - The company is also looking to expand its product categories beyond core offerings like jeans and down jackets, responding to franchisee requests for more variety [10]. Group 5: Company Transformation and Leadership - The company has undergone significant restructuring, moving from a scale of over 10 billion yuan to a few billion, shedding historical burdens to build a new operational model [10]. - The leadership emphasizes a commitment to progress and adaptability, focusing on practical execution rather than maintaining past prestige [10].