Wu Huating Became The Chief Executive Of Jiangnan Cloth Clothing, And Was Responsible For Online Marketing In Alibaba

Jiangnan cloth Clothing Co., Ltd., the first designer brand listed in Hong Kong in mainland China (hereinafter referred to as "Jiangnan cloth clothing"), announced on March 7 that Wu Jian resigned as the chief executive officer and continued to be the chairman and executive director of the board of directors from March 7, 2019; Wu Huating was appointed as the chief executive officer.


In addition, Wu Jian, chairman of the board of directors and executive director of the company, resigned as CEO to focus more on the overall strategic development of the company, while still paying close attention to the development of the company's core business. Li Lin, the executive director of the company, will still be responsible for managing the design and research departments, providing guidance for the design concept and controlling the introduction of suitable products to the market.


Ms. Wu Lin holds a bachelor's degree and a master's degree in business and equipment management from Zhejiang Jiangnan University in the end of 1990. She graduated from the Department of fashion business and technology from Jiangnan University in July, 2017.


Ms. Wu Huating graduated from Zhejiang University of China in 1997 with a bachelor's degree in mechanical engineering. She holds the professional certification of PMP (project management professional) of American PMI and the qualification certification of China Securities Investment Fund Association.


Ms. Wu Huating has nearly 21 years of retail and Internet operation management and investment experience. Her working experience is as follows:


He was a partner in vision Knight capital general partners Ltd., a private equity fund from 2011 to 2018.


Before joining vision Knight capital general partners Ltd., he was employed by Alibaba (China) Network Technology Co., Ltd. in 2006 as a senior director, mainly responsible for the company's brand, business marketing operation and marketing channel management and operation optimization of Internet online marketing.


From 2002 to 2006, Ms. Wu Huating served as director of market development of UT Starcom Communications Co., Ltd.


At the end of 1998-2001, worked as product manager of Dingxin International Group Hangzhou Dingyi International Food Co., Ltd.


According to public information, Jiangnan cloth clothing established JNBY in 1994 and registered on the stock exchange of Hong Kong in 2016. Since the 1990s, the company's main brand JNBY women's wear has been in the style of literature and art, conveying the feeling of "nature and self". After that, the less brand acquired in 2011 was more oriented to high-end professional women, with better fabrics and a price of about 20% higher than that of JNBY. In fiscal 2017, the main brand JNBY still accounted for 58.5% of total revenue. However, since 2014, the proportion has been gradually declining. The company hopes to reduce the proportion to about 50% around 2019, aiming to continuously develop other brands and achieve the goal of continuous common growth of multiple brands.


In the first six months as of December 31, 2018, the operating revenue of Jiangnan cloth clothing reached RMB 2.027 billion, an increase of 22.6% over the same period. Net profit was 380 million yuan, up 22.1% year on year. The rapid growth of e-commerce business is attributed to the rapid growth of e-commerce business.


According to the financial report, the group members contributed about 70% of the total retail sales in the first half of 2019. As of December 31, 2018, Jiangnan cloth clothing has more than 3.1 million member accounts (de duplication), an increase of 600000 compared with 2.5 million half a year ago. The number of wechat accounts (de duplication) exceeded 2.6 million, an increase of 500000 compared with half a year ago. In 2018, the number of active member accounts of Jiangnan cloth clothing exceeded 395000, the total purchase amount of 182000 member accounts exceeded RMB 5000, and the retail sales volume also reached RMB 2.17 billion, contributing more than 40% of the total offline channel retail sales.


Diversified designer brand portfolio also promoted the stable growth of the company's revenue. It is reported that in fiscal year 2019, Sula launched a more diversified combination of designers and boutiques. As of December 31, 2018, the group has a total of nine independent designer brands, including crouquis (sketch), jnbybyjnby and less.


As of the first half of the year in 2018, the number of cloth clothing stores located in Jiangnan, accounting for 12.5% of the total number of cloth stores in Jiangnan, accounting for 1.5% of the total number of independent stores in Jiangnan, accounting for 11.5% of the total number of cloth stores in the first half of the year in China, accounting for 11.5% of the total number of cloth clothing stores in the first half of the year in China, accounting for 11.5% of the total number of cloth clothing stores in the first half of the year in. If 161 overseas sales outlets are added, the group's retail network covers all provinces, autonomous regions and municipalities in mainland China and 17 other countries and regions in the world.