In early October, China’s largest down jacket manufacturer Bosideng International Holdings Co., Ltd. (Bosideng) reopened its flagship store in London, England. This was the first time the store opened after closing in 2017.
The store is located at the corner of South Molton Street and Oxford Street, the busiest street in London, covering an area of 6,292 square feet (approximately 585 square meters). The spokesperson Gu Ailing, the Chinese skiing Olympic gold medalist, is prominently displayed in the store window. (Eileen Gu) latest poster. The first and second floors of the store are mainly used to display women’s, men’s and children’s clothing products, some of which are unique to the British market; the third floor is the Bosideng brand archives and a display area for the brand’s latest high-tech products. The store also has a basement level with an “igloo” that simulates an Arctic environment and is equipped with thermal imaging cameras that display shoppers’ body temperatures in real time.
It is reported that Bosideng bought the real estate of the store for 21 million pounds that year, spent another 14 million pounds to convert it into a flagship store, and opened it for the first time in 2012. This is an important part of the company’s founder Gao Dekang’s overseas expansion strategy. step. At that time, Bosideng hoped to take advantage of the prime location in London’s West End and the 2012 London Olympics to launch its brand in the UK, enter the international high-end men’s wear market, and also promote its sales in the Chinese market.
After entering London, England, Bosideng has also expanded its business in the international market in Italy, the United States, and Germany: in 2013, it opened the brand Bosideng Plus Zero in Rome with the slogan “Designed in Italy, Made in China” In 2014, a pop-up store was opened in New York; in addition, the brand also has a flagship store in Germany and remains open.
However, between 2014 and 2016, Bosideng’s performance in the Chinese market suffered setbacks, which slowed down its international expansion. In early 2017, after taking into account factors such as the economic situation after Brexit and the uncertainty of investment returns, Bosideng’s London flagship store closed and the property was temporarily rented out. At that time, Gao Xiaodong, son of company founder Gao Dekang and vice president of Bosideng Group, said: “Bosideng’s London flagship store previously only sold Bosideng men’s clothing. The products were relatively single and may not be able to meet the needs of local consumers in a short period of time. Bosideng Group must readjust its brand strategy and products. The strategy will be reactivated after further improvement.”
Subsequently in 2018, Bosideng chose to rebrand. Under the group’s clear strategic direction of “focusing on the main channel and focusing on the main brand”, Bosideng focused on “brand, Carry out multi-faceted construction of “products, channels and terminals” to reshape Bosideng into a mid-to-high-end functional brand for the times. In December 2021, Bosideng established a joint venture with the German luxury sports fashion company BOGNER to jointly enter the Chinese ice and snow sportswear and fashion market. In addition, this year, Bosideng also tried to subdivide the down jacket business, carry out cross-border joint branding, and hold Show, create offline themed flash mobs and add online e-commerce.
After changing its business strategy, Bosideng’s performance continues to recover. The company’s 2021/2022 financial report shows that the company’s revenue increased by 20% year-on-year to 16.214 billion yuan, and net profit attributable to the parent increased by 20.6% year-on-year to 2.062 billion yuan. Both key financial data, revenue and net profit, hit record highs.
Keywords:
Down jacket manufacturer Bosideng
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