Store Expansion Plans - The company currently has approximately 600 offline stores located in high-traffic department stores or shopping centers, primarily in first and second-tier cities. There are plans to cautiously expand the number of stores over the next two to three years, considering the shift in consumer habits towards online shopping post-pandemic [1]. Profitability and Gross Margin - The company maintains a high net profit margin due to its brand positioning across mid-range, mid-high-end, and high-end segments, which allows for significant pricing power. The gross margin is supported by an in-house design team and supply chain management, enabling effective cost control [3]. Resilience During Market Challenges - Despite the market downturn caused by the pandemic, the company has experienced revenue growth compared to its peers. This resilience is attributed to its multi-brand strategy, which covers a wide range of consumer preferences, and an early investment in online sales channels, which now account for over 65% of total sales [3]. Impact of COVID-19 - The pandemic has created operational challenges, including reduced workforce attendance and logistics disruptions, affecting delivery times and in-store sales personnel availability. However, the company has managed to keep inventory levels under control despite some pressure [4]. Future Strategies - The company plans to continue enriching its multi-brand matrix to meet diverse market demands, invest in both online and offline channels, and enhance product categories based on market needs. Brand development will focus on design innovation and quality improvements [4]. Market Outlook for Children's Apparel - The children's apparel market remains underdeveloped with low concentration, presenting significant growth opportunities. The company aims to enhance product innovation and brand positioning, targeting a shift from unbranded to branded consumption among consumers in lower-tier cities [5]. Brand Matrix Development - Future efforts will focus on strengthening mid-high-end brands, as the market for these segments is expected to grow significantly with the ongoing economic development in China. The company recognizes the importance of market segmentation and will continue to refine its brand offerings accordingly [5].
嘉曼服饰(301276) - 2022年12月7日投资者关系活动记录表