Special Observation: "Maotai In Clothes" Stands Out From Yinlefen And Continues To Grow At A High Rate

On 4 June 2021, Biyinlefen (002832) released the performance forecast for the first half of 2021, which is expected to achieve a profit of 234 million yuan to 250 million yuan in the first half of 2021, with a year-on-year increase of 45% to 55%, continuing the high growth and brilliant achievements. Domestic high end Clothing enterprises Only a few of them can maintain high-speed growth through the cycle. Biyinlefen is unique and can be called "Maotai in clothes"!

(photo source: biyinlefen: half year performance forecast for 2021)

Founded in 2003 and headquartered in Guangzhou, biyinlefen completed the shareholding system change in 2012 and listed on the Shenzhen Stock Exchange in December 2016, which is the first share of golf apparel in China. According to the public data, in 2020, biyinlefen achieved a revenue of 1.938 billion yuan, a year-on-year increase of 6.14%, and a net profit of 479 million yuan, a year-on-year increase of 17.90%, still maintaining a positive growth under the epidemic situation. According to the first quarter report of 2021 released on April 29, the company realized a total operating revenue of 532 million yuan, an increase of 45.17% year-on-year.

Continuous innovation in product R & D and high consumption enthusiasm of domestic products

In recent years, under the guidance of China's self-confidence, cultural self-confidence and the trend of taking the country as the trend, the acceptance and love degree of the people to domestic products have increased rapidly, which undoubtedly provides a good opportunity for the development of Chinese local brands. Biyinlefen 18 years of persistence, finally ushered in the highlight of the moment.

(photo source: market value changes)

Products are the foundation of everything. One of the driving forces of biyinlefen's brilliant performance is the continuous improvement of product power. The R & D cost rate of biyinlefen is increasing year by year, reaching 3.4% in 2020, which is in the forefront of the industry. According to the 2020 annual report, bitinlefin has 75 patents and 24 patents in application. In the spring and summer of 2021, biyinlefen continued its R & D and innovation, launched outlast, dioran and other functional product series, which became a sharp tool to promote sales. Outlast ® Technology is a phase change material marked by "certified space technology" and a black technology material for aerospace. It actively manages human body heat in the form of absorption, storage and release to realize intelligent temperature regulation. Dylan antibacterial fiber can inhibit the growth and reproduction of bacteria by neutralizing the pH value of skin surface. Even if washing for more than 50 times, the antibacterial rate can still reach 90%.

In terms of product rejuvenation, biyinlefen and imperial palace culture IP cross-border joint name, successively launched "zhendu Yiyou", "Tianguan Zhifu", "fulushou" and other series. With differentiated products and national tide cultural connotation, biyinlefen has narrowed the distance with young consumers, and prospectively deployed high-end Guochao market. According to the statistical results of sales survey of "T-shirt single category" of national large retail enterprises released by China Federation of Commerce and China National Business Information Center, the results show that: Biyinlefen For three consecutive years (2018-2020), our T-shirts have won "the first comprehensive share of similar products".

　　 High quality store expansion and refined VIP management

Biyinlefen has the advantages of characteristic distribution channels and continues to expand. By digging into the high-end communities in the first and second tier cities as potential markets, and further sinking the market into the fast-growing third and fourth tier cities, the number of offline stores has steadily increased. According to the public data, as of December 31, 2020, biyinlefen channel covers the core business areas, high-end department stores, airports, well-known golf clubs and clubs in 31 provinces, autonomous regions and municipalities directly under the central government, with 979 (486 directly operated / 493 franchised) terminal sales stores, a net increase of 85 compared with the end of 2019.

At the same time, biyinlefen accelerates the digital transformation of enterprises, deeply cooperates with Tencent on the consumer side, improves the collaborative efficiency of the supply side, strengthens the driving terminal, continuously improves the quality of stores, and maintains the growth of single store revenue.

In the era of Internet of things, consumers' dependence on online retail channels has greatly increased, and e-commerce has become an important force to promote domestic consumption in 2020. In 2020, biyinlefen's e-commerce channel will grow significantly, actively arrange new channels such as live broadcast, and further promote the online sales mode. In 2020, the online revenue will increase by 508% year-on-year. At the same time, online retail Refined VIP management, in-depth operation of VIP, personalized marketing and refined management, online and offline members get through each other to achieve more refined and accurate management. Biyinlefen's high-quality products and services have accumulated a large number of loyal customers for the brand, and laid an excellent reputation and consumer recognition. It is reported that in the field of high-end sports and leisure clothing, biyinlefen VIP consumption accounts for more than 80% of sales. The proportion of new customers transferred from old customers has also continued to increase, and has gradually formed a brand "moat of word of mouth".

　　 Strengthen brand building and become the top brand in the subdivision field

According to BCG consulting data, the overall share of China's luxury market in the global luxury market will double in 2020, and it is expected to reach 41% of the global market share in 2025, which is expected to become the world's largest luxury market. After the accumulation of time, stories, word-of-mouth, products and other contents, international first-line luxury brands have squeezed the development space of domestic luxury brands. Therefore, domestic luxury brands need to start from domestic high-end consumers, find their own differentiation advantages, and realize luxury brand positioning in the subdivision field.

China's golf apparel brand biyinlefen is closely focused on the high-end fashion sports field. It takes high net worth people as the core target group, follows the tradition of noble golf, inherits the luxury taste and noble temperament of golf, takes "life Golf" as its brand style, and advocates the concept of living golf, The layout of "life golf series" and "fashion golf series" and "three high and one new" R & D concept of high quality, high grade, high technology and innovation are adopted to meet the dressing requirements of elite people in multiple scenes, and are committed to creating golf leisure luxury clothing.

　　

　

　　

In terms of brand building, biyinlefen has increased its in-depth communication with consumers through its spokesperson Yang Shuo, and cooperated with China's national golf team and event sponsorship to enhance its brand influence and reputation and firmly occupy the golf market segment. In 2021, biyinlefen increased its brand building efforts, and began to put high-speed rail advertisements across the country. "Biyinlefen my luxury" is spreading all over the country, gradually settling into the unique brand value of biyinlefen“ "Biyinlefen my luxury" is helping biyinlefen firmly occupy the luxury positioning in the high-end segment and constantly improve the brand value.

18 years of intensive farming, Biyinlefen Always regard the product as the core competitiveness of the brand, and take the quality as the foundation of the brand, forming the unique growth mode of biyinlefen. No matter in terms of brand positioning, foresight or financial performance over the years, biyinlefen has delivered high scores. Biyinlefen, which can be called "Yimao" in the clothing industry, is becoming more and more popular among consumers and investors.