NanJi E-Commerce(002127)2025-01-03 13:20Group 1: Company Overview - Nanji E-commerce Co., Ltd. is a consumer goods manufacturer and brand owner, primarily holding brands such as Nanji Ren, Baijiahao, and Cardile Crocodile [2] - In 2023, the company transitioned from an open authorization model to an invitation-based franchise model, reforming its supply chain and terminating partnerships with non-compliant suppliers [2] Group 2: Brand Performance - Baijiahao achieved a GMV of 25 billion in 2023 and is projected to reach 47 billion in 2024 [2] - The Nanji Ren light luxury series currently has a daily sales volume of approximately 16 million GMV, with over 900,000 self-purchased products sold online [4] - The light luxury series has a consumer feedback rating of over 95% [4] Group 3: Product Development - The light luxury series has 15 SKUs focused on winter warm products, with plans to expand into quick-dry, wool, and down series in 2025 [5] - The company aims for a self-purchased to franchise product ratio of 3:7, with a focus on high-quality standards across both categories [5][6] Group 4: Store Expansion - Currently, the Nanji Ren brand has over 170 stores, with an expected addition of 200 stores in the first quarter of 2025 [7] - The company employs a whitelist invitation system for new partnerships, ensuring compliance with its negative list management [7] Group 5: Future Planning - Cardile Crocodile will adjust its product line in 2025 to include self-purchased items, aligning with the quality upgrade strategy of Nanji Ren [8] - The company is expanding its online presence across platforms like Alibaba, JD, Douyin, and WeChat [9] Group 6: Customer-Centric Approach - The company emphasizes a user-first philosophy, aiming to enhance consumer experience and satisfaction [11] - A zero-tolerance policy for negative list management is in place to maintain a healthy ecosystem [11]