According to the financial report, in the first half of 2017, Youngor's garment business achieved operating income of 2.449 billion yuan, an increase of 10.67% over the same period of the previous year; net profit was 440 million yuan, an increase of 12.96% over the same period of the previous year.
Youngor Group Co., Ltd. (hereinafter referred to as “Youngorâ€) announced its 2017 semi-annual report.
According to the financial report, in the first half of 2017, Youngor's garment business achieved operating income of 2.449 billion yuan, an increase of 10.67% over the same period of the previous year; net profit was 440 million yuan, an increase of 12.96% over the same period of the previous year. During the reporting period, Youngor brand clothing realized operating income of 2.395 billion yuan, an increase of 13.62% over the same period of the previous year. The main brand Youngor achieved operating income of 2.04 billion yuan, an increase of 8.85% over the same period of last year; the sub-brands MAYOR, Hart Schaffner Marx, etc. realized Operating income was 350 million yuan, sales increased by 3.74 percentage points year-on-year to 14.66%; driven by the explosive growth of MAYOR of 284.97%, the growth rate increased by 43.88 percentage points to 52.54%.
In this transcript, the explosive growth of MAYOR is quite interesting. MAYOR is a high-end ready-to-wear and custom brand launched by Youngor. The chairman of Youngor Li Rucheng is positioned to “set the essence of human beings and sculpt the best of the world†to create an international brand that belongs to the Chinese. Since last year, Youngor has been working hard to build this brand. This proud data is undoubtedly an affirmation of Youngor's brand road.
I thought that before, the official WeChat of China's apparel had published a message about Youngor. Some readers wrote: "The Youngor brand is old, mainly relying on consumers in the 70s. If Youngor is not young, it won't win the 80s and 90s. The heart of the consumer."
For Youngor, who has been researching consumers all the time, I must have been deeply savvy, but perhaps he does not want to become younger, but to become more mature, higher-end, and firmly grasp some of the target consumers. MAYOR, a high-end brand that Li Rucheng is striving to create, highlights this direction.
"Youngor does not want to do repeated labor, but to create a brand kingdom like LV. High-end ready-to-wear customization will undoubtedly allow Youngor to enter a very subdivided top market. In the clothing manufacturing process, domestic brands and foreign brands are almost the same. Even in some processes, it is better to achieve excellence." Li Rucheng said.
When interviewing Li Rucheng, he showed that behind the creation of MAYOR is China's rising high-end consumer market. The original intention of creating this brand stems from Li Rucheng's feelings and has been doing clothing for many years. He hopes to let consumers enjoy better quality clothing.
“I deeply felt the comfort brought by a good dress.†Li Rucheng said that in the 1960s, when he was still in the countryside, he was torn at the time of persuasion. The final leader rewarded a piece of Ningbo at that time. shirt. “Nangor now has tens of millions of shirts a year, but the feeling at the time made me unforgettable.â€
After decades of development, Youngor has laid the foundation for the launch of this high-end brand. Whether it is advanced manufacturing technology, global supply chain, and intensive sales network, Youngor has the ability to guide the trend. From raw materials to marketing, the foundation of the entire industry chain, Youngor has the foundation to launch this high-end brand.
In the creation of the brand, MAYOR also chose not to take the usual path. "A high-end brand can't be completed by one brand. It must mobilize global superior resources." Li Rucheng said. Youngor joins Europe's top five fabric manufacturers Italy's Zegna (ZEGNA), LORO PIANA, Cheretti 1881 (CERRUTI 1881), Albini (ALBINI) and Switzerland's Alumo (ALUMO) for LV Waiting for the first-line international clothing brand service "Yu" fabric suppliers to jointly create the MAYOR brand.
With high-end fabrics, locally made, and more competitive prices, Youngor wants to use this competitive strategy portfolio to fully expand its custom brand. For example, the MAYOR suit is affixed with two labels, one for the Youngor MAYOR label and the other for the high-end fabrics such as ERMENEGILDO ZEGNA. Li Rucheng said that the current set of high-end customized clothing abroad is basically around 30,000 yuan, while the price of Youngor MAYOR suit is only between 8,000 yuan and 10,000 yuan.
Chen Dapeng, executive vice president of the China Garment Association, also said to Youngor that the high-end fabrics, which were originally served by international luxury brands, are now also used in Youngor’s shirts and suits, and are also the top fabric suppliers in Europe for Chinese apparel companies. Affirmation. With the top fabrics to stimulate the supply side reform of the apparel industry, to replace the fast-selling European and American luxury brands with high-end customized and personalized brands; to allocate high-quality resources at home and abroad, to explore the international market along the “Belt and Roadâ€, Youngor’s thinking, The transformation and development of China's garment industry has far-reaching significance.
In addition to the vigorous creation of the MAYOR brand, Youngor also promoted the channel strategy of “opening big stores, expanding halls, closing small stores, and excellent structuresâ€. As of the end of the reporting period, the total number of marketing outlets was 2,469, a decrease of 85 from the beginning of the year, with a business area of ​​390,234 square meters, an increase of 8,690 square meters from the beginning of the year, and the sales of households in each channel increased to varying degrees. Offline Youngor is closely integrated with store celebrations through its member activities, and members' salons and other activities such as men's wear and tea art have increased the stickiness of members, and through the new installation and transformation of the store's visual image to enhance the experience, online sales have also been greatly increased. Growth, operating income of 63,502,200 yuan, an increase of 39.24% over the same period of the previous year
At the same time, Youngor officially launched the intelligent manufacturing project, and built three boutique workshops in Ningbo, including shirts, suits and fashions. From large-scale production to high-quality and customized transformation, we will create “world-class, domestic-leading†quality craftsmanship and high-end customization. base.
Editor in charge: Wang Zhen
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