Written / “Financial World” Weekly
Edit / Chen Fang
More and more expensive Bosideng
On January 2, 2022, Beijing weather was very cold, the highest temperature was only 2.3 ° C, and the cold wind whistling and couldn’t help but tight down jacket. Some people who are shopping in the holidays, and walk into the Boshia store in the Rich Square, Beijing, and intend to add cold clothes to themselves or their families.
This is a Bosiderai flagship store just opened for a year. It is full of a variety of down jackets. It is also a young age of two or thirty years old. Chen Hao, who is in his twenties, one of them, she looked at the white pattern down jacket of Yang Mi with the same paragraph, immediately let the shopping guide came, and I tried to consulate the companion after I tried: “This is the same?”
But Chen Wei fails to be happy too long, seeing 2899 yuan of hanging prices, she couldn’t help but breathe. “Boside is getting more and more expensive, more than two thousand in planning.”
(源 源 源: 周 享 玥 / photo)
Not only Chen Wei, I’m also in the same way, in 2006, she visited a department store in Chengdu, and accidentally found a red Bosideng down jacket, “I fell in love with it”, I spent nearly a thousand yuan, it is already calculated. Upper Bosideng is the most expensive product. I didn’t expect that she now spends three thousand yuan to buy “medium-lowering” products.
Indeed, it has become an overwhelming evaluation of the consumer to Bosideng. In contrast, Adidas, Li Ning, Anta and other brand down jackets have generally 300 yuan to 1,000 yuan.
Bosideng’s more than ten years of senior users have clearly remember that they spent 799 yuan when I bought the first Bosideng down jacket, and I love this down jacket brand. Every year, they have to buy a few pieces. Peas tells the “Financial World” Weekly: “Bosideng is about five years ago beads getting more and more expensive.” She bought down jackets slowly rising from less than one thousand, first rising more than 1,000, then rising More than two thousand, now some have more than 3,000 yuan.
A report of the National Gold Securities confirmed the observation of Peas. This review show that the price of Puboot’s debt brand is as high as 30% to 40%, and the price of down jackets from 1,000 to 1800 yuan is increased by 47.6% to 63.8. %, Down jackets from 1800 yuan to 24.1% from 4.8%. In contrast, the down jacket below thousands of dollars is reduced, and there is only a lot of only one in the half-wall river.
It is also the end of 2018, and netizens are frequently spit on all kinds of social platforms: “Bosideng is crazy, children’s down jackets sell thousands” “Bosideng is so expensive?” “If you don’t understand, Bosideng why Suddenly so expensive? “In November 2019, Bosideng was more popular on Weibo because of the release of 10,000 yuan down jacket, triggered a hot discussion on the network.
The “Dengfeng Series” down jacket released at the time, the lowest one had 5,800 yuan, the highest “Everest” model reached 11,800 yuan, directly to the shoulders of Canada. In November 2021, Dengfeng Series upgrades, the price is also high, the lowest price is raised to 119 million yuan, up to 149 million yuan.
Will Bosideng will rise in the future? The answer is certain.
President of Bosideng Brand Division revealed at the performance instructions on November 26, 2021: “Future Bosideng down jacket will continue to rise, 2017 is around 1000 yuan, 2020 is around 1600 yuan, the future It will reach more than 2,000 yuan. “Zhu Gaofeng, chief financial officer and vice president of Bosideng, said that the Bosideng transformation is aimed at the price segment of 2000 yuan -7000 yuan, which is still a competitive blank.
Why does Bosidend increase price?
Why is Bosideng get more expensive? To some extent, it is nothing to do with the big environment.
According to the BOC Securities Research Report, the price of the down jacket in my country has continued to maintain a trend in 2016, and a large part of them has risen, resulting in the rise in the price of goose, and the cost of raw materials. China National Business Information Center data shows that the average price of the down jacket in 2015 is 432 yuan, and it has risen to 656 yuan to 2020.
But compared to other down jacket brands, Bosideng has increased. After this, it is actually a tragic story that endures the pain, the Jedi.
Boskeered was founded by Gao Dekang. In 1976, only 24-year-old Gao Dekang is still a tailor. Once an accidental opportunity embarks on the road of the down jacket, name Bosideng, and later Gao Dekang stepped by step by step to sell this brand in the country. In 2007, Boskes successfully landed the Hong Kong Stock Exchange and became China’s “first share of down jacket”, and there was no two in the scene.
However, the troubles come, Boside boarded the market, due to the sudden reduction of warm winter, down jacket sales, leading to a lot of backlog, which directly triggered its stock price for two consecutive years, and realized that the business is single, the Bosideng, began to embark on multi-diversity New road for development.
In 2009, Bosideng launched brand-based, four-season, internationally “3 + 1” strategy, in this few years, as a unknown hunger, rapid acquisition or homemade, business scope Expansion, put on men’s clothing, women’s clothing, children’s wear, school uniforms, etc. In 2012, Bosideng was a big hand, and he tried 300 million yuan to buy a building in London as his own European headquarters.
The number of online stores also rises high. As of March 31, 2013, the number of Bosidendmen was as high as the peak of 14,435. Behind the high songs, the problem begins in the second half of this year, and the outbreak of foreign avian flu has led to a large number of birds being killed, ducklings and goose down prices have skyrocketed, directly brings to the whole down industry. FY 2013/2014, Bosideng’s performance has fallen, revenue and returned net profit fell 11.65% and 35.60%, respectively.
The inventory crisis came, as of March 31, 2014, Bosideng stock up to 2043 million yuan. In order to self-help, Bosideng started low-cost stock, some products sell tens of dollars of “bone discount”, and start the strategy of returning the store, nearly 10,000 houses within 4 years, in March 2017, only more than 5,000 houses.
At the same time, Bosideng also asked Shanghai Junzhi to help, the latter put forward three suggestions, one is to focus the down jacket market; the second is the brand update, seize the mainstream people; third is to continue to expand the market share. In November 2017, the pain of the pain in pain on the road “Second Entrepreneurship” road, cut off most of the non-down jacket project, “focusing the main channel, focusing the main brand, contraction diversification”, returning to the down jacket.
But how can we quickly complete the brand image to reshape it, get the favor of young people? Suddenly broke into the foreign high-end down jacket Canada geese made Bosideng saw the direction. In the winter, the “Belt” of Canada’s Goose in the Wuzhen Conference is popular, quickly swept the streets in China, and the price of 10,000 yuan is shocked. The down jacket can also sell so expensive?
Bosideng, who was enriching, began to raise prices, and stepped into a high-end market. In September 2018, the Boskes entered the New York Fashion Zhou Xiufang, and invited the world’s top star Anne Haiti and other brands to help out. Then, throughout New York Fashion Week, cooperate with multiple international designers to launch joints.
In FY2018, the Boske’s boarding camp has increased by 30.28% to 8.881 billion yuan. After the Sweet Boside, I opened a larger marketing. In the past few years, Boskenden not only boarded the Milan Fashion Week, London Fashion Week, still frequent Invite the big-name designer to cooperate to promote the name, sign Yang Mi, Chen Wei, Xiao Wan and other stars as spokespersons. At the same time, Bosideng’s down jacket has added more design, and the color combination is more rich, and even a variety of elements such as crushed, camouflage, sea ripples.
The image of the next store is also upgraded. It is said that the Bosideng Shanghai Nanjing Road is to invite the French top design team to redesign. “In the past, the impression of this store is messy, more disorder, even if it goes there, I don’t want to go in.” A industry insider told the “Financial World” weekly, but after retransmond, the store’s design and fashion The degree is much higher than before.
According to the industry, in order to effectively maintain the store and brand image, Bosideng is also adjusted in the accomplis of the store and the third-party distributor store.
“Financial World” Weekly Statistics found that the third-party distributor channel store in Bosideng down jacket stores accounted for 780 and the highest, and the proportion of this proportion is rapidly declining in recent years. As of 30 September 202, the third-party distributor store accounted for 54.79%, and the proportion of self-ownership stores increased to 45.21%.
At the same time, Bosideng began to follow the road “doing high price” in Canada Goose. In 2018, Bosideng took 20% to 30%, and the high-end product was increased by more than 30%. At that time, the Bosideng management was in full, relative to the price of 1-30 million yuan in the international brand, Bosideng’s future price package . It seems that I am afraid that investors don’t understand, Bosideng also writes investors to investigate the investors to the annual annual annual report, absolutely weigh one of the highest price increases.
“In strict sense, when Bosideng puts forward the return to the main business, it is catching up with the rise of the national tide. In this big background, if it continues to indulge in a low-end brand, it is likely to have already Yesterday, Yellow Flower. “Shoes and clothing industry brand management experts, Shanghai Liangxiong Brand Management Co., Ltd. General Manager Cheng Weixiong told the” Financial World “weekly, the transformation of Middle-high-end force, from a certain point of view, it is also its four-season A helpless decision behind the road can’t go.
“Boside is a little prominent, and the husband’s partner is very good, Gao Deng Kang Direction, his wife Metong leads the team to make a land, this is directly determined that Bosideng is a very powerful company, hitting the South Wall immediately, Just a good time to catch up with the trend. “Cheng Weixiong commented.
The price of Bosideng sells better. In 2019, Li Wei, director of Bosideng Brand Management, revealed that before 2018, Bosideng down jacket price was basically more than 1,000 yuan, but the sales flat, but it was sold better after the product price, the store did even have a long-lost queue to buy. grand occasion.
Performance, FY2019, Bosideng after transition, successfully squeezed into the “10 billion Revenue Club”, revenue 10.383 billion yuan, to 2021 fiscal, its revenue reached 13.517 billion yuan, home to net profit from 2019 The year of 2001 billion yuan increased to 171 billion yuan, almost doubled.
Is Bosideng worth so expensive?
Is there two thousand yuan of Bosideng true value?
“At present, Bosideng’s improvement in product style, quality and quality is in line with my expectation of the price paragraph.” Peas told “Financial World” weekly, in her opinion, is it willing to accept a product price increase? Depending on whether its product design is worthy of the price, “Although I bought it for more than 3,000 down clothes to my dad last year, it is more technical than other down jackets, which is worth”. “
Indeed Therefore, over the past few years, although the overall price of the down jacket market has continued to rise, the enthusiasm of the purchase of the down jacket has not decreased, 2020, the sales volume of the national key retail enterprise down jacket increased by 15.1% year-on-year.
Innovative input is the need for funding, but in the current point of view, in the R & D fees that often represent a company innovation and R & D level, Bosideng did not make detailed disclosure in the financial report, only to give a “group consistently payive product innovation , Put research technology innovation incorporate the important core strategy of supply chains, and continuously aggravate input. In contrast, the distribution expenses in the distribution expenses including advertising and publicity costs are not low, and the six months of September 2021 increased by 33.5%, to 1.6 billion yuan.
Bosideng Chairman Gao Dekang was introduced when he was “how to improve the design capacity” asked by the media. Bosideng “focused on cutting-edge, fashion leader products, innovation adopts high-tech fabrics, adapting to consumers in different scenarios, business, fashion and other different scenarios , Develop a number of new products such as high-end outdoor, extremely cold, designer series. “
Among them, the price of the extremely cold series is in 1999 to 3,399 yuan, known as “600+ fluffy, 90% of the velvet, thickened lock temperature, 197G high-pocket, can resist minus 30 degrees extreme cold temperature “.
These “product highlights” in Bosideng, on all kinds of e-commerce platforms and social platforms, many netizens have thrown “Is it really worn in less than 30 degrees?” And so on. In this regard, some consumers say “very warm”, but there are also consumers to vomit, and they buy the extremely cold series of down jackets “The weather in the day -14 ° C is not resistant.”
Cheng Weixiong suggested that Bosideng can’t be “high and high” on the road of price, but it is necessary to convey the price increase to consumers. “For example, in order to make the brand better, put the product’s supply capability, version, etc. It is better to do better, and the cost is increased. This is to explain it clearly. After all, Bosideng has not reached a high level of brand premium. “
At present, Boside depends the price of 10,000 yuan of down jackets in Tmall is not high, only one bit number. In this regard, the industry believes that as the product explored by Bosideng prices, it is not important to sell much.
“The high-end price strategy of Bosideng is actually just means. It is necessary to pass the information to the outside, which has the ability to lead the local down jacket industry.” Cheng Wei Xiong said. In 2019, Dengfeng series only sold in Tmall, but this year’s Dengfeng 2.0 has sold more than 100 pieces, “image model” is more secure.
(源 源 源: 周 享 玥 / photo)
(源 源 源: 周 享 玥 / photo)
In his opinion, Bosideng is unlikely to directly target Canada geese, only high-end brands, because Bosideng is doing a low-end mass brand, and inherent genes are difficult to break through, complete transformation into high-end brands unrealistic, but can jump into high-end Price, there are also popular brands in low-end prices.
“At this point, you can refer to Li Ning integrated single brand, multi-class, multi-channel thinking.” Cheng Wei Xiong explained that Li Ning has both the main brand of Li Ning, the mainstay of professional movement, and China Li Ning, aiming at the high-end market with sports fashion style. Even little luxury li-ning 1990.
Zhu Gaofeng also revealed in the performance call. Bosideng will not become a high-end brand, but a public brand, but he also said that Bosideng is high-ended.
For this goal, Bosideng is constantly trying to explore the price, also through the “opening of the store, Guan Xiaodian”, and prepare for the market of Bosideng in the price section of the 2000 yuan -7000 yuan price. “The number of future stores will grow slowly in one bit, and mainly concentrated in a second-tier city.” Zhu Gaofeng said.
Data show that 2018 to 2020, Bosideng’s shop layout in the first-second tier city increased from 24.3% to 28%, Bosideng Beijing R & F Square is under this wave of open store strategies. Up to now, 4 cities in the Northern Dece have opened 61, 90, 1, 5 Bostel stores, respectively.
According to the latest data, as of September 30, 2021, the Bosideng still has 69% of the retail outlets in the three-wire and third-wire market below. Cheng Weixiong believes that in order to avoid the increasing price and more retail outlets, the local consumption capacity of retail outlets has deviated, Bosideng should do homework on the control of the price.
In 2021, the double eleven. As a consumers, although repeatedly retired a few times, they finally bought three Bosideng down jackets, plus one down pants. Every year, I will buy one or two Bosn’s peas every year, and I will give up the purchase of new down jackets under the request of “rational consumption”.
Hard thinking, “Bosideng is not a luxury goods, the people are wearing, but we still hope that the price should not deviate too much from the value, it loves consumers, consumers love it.”
(At the time of interview, Chen Wei, peas, and high!
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