Focus On The Domestic Top Women'S Fashion Winners And Release The 2024 Annual Performance Announcement

On March 25, Wingaid Fashion Holdings Co., Ltd. (hereinafter referred to as "Wingaid Fashion"), a domestic Hong Kong listed women's clothing company, released its annual performance announcement for 2024. According to the announcement, as of December 31, 2024, Wingaid Fashion Group has achieved * * * and gross profit of * * * 658854 million yuan (about 6.588 billion yuan) and * * * 503555 million yuan, respectively, a decrease of 4.68% and 3.26% from the previous year, and the overall gross profit margin has increased from 75.30% in 2023 to 76.43%.

The net profit attributable to the owner of the parent company was * * * 468.50 million yuan, a decrease of 44.10% compared with * * * 838.17 million yuan in the previous year, mainly due to the decline of product sales in various retail channels, product improvement and the optimization of the company's operation.

Business Disassembly

By brand: Wingaid Fashion owns and manages eight brands, including its own brands Koradior, La Koradior, ELSEWHERE and FUUNNY FEELLN, and has acquired brands CADIDL, NAERSI, NAERSILING and NEXY Among them, the sales of Koradior and NAERSI brands * * * exceeded * * * 3.59 billion yuan, and the sales of other brands generally ranged from * * * 400 million yuan to 1.1 billion yuan.

By sales channel: In 2024, Wingaid Fashion's e-commerce channel will perform well, with * * * reaching * * * 112932 million yuan, up 16.57% year on year. Tmall Mall, Vipshop, EEKA Fashion Mall, Tiaoyin and other platforms have all grown, especially the growth rate of WeChat video accounts has reached 519.60%.

By stores: By the end of 2024, Wingaid Fashion had 1839 retail stores, 1444 of which were direct stores, covering 31 provinces, cities and autonomous regions in China. Although 197 new retail stores were opened, 322 stores were closed, resulting in a net decrease of 125 stores.

By design productivity: the total number of SKCs in 2024 will be 5894, 7.40% less than the total number of 6365 SKCs in 2023, and the number of design and R&D personnel will increase slightly to 569, mainly due to the upgrade of Wingaid's fashion commodity system, more R&D resources will be invested to create the main sales, and the main line and sub line brand product R&D have been combined.

By promotion and marketing: By 2024, Wingaid Fashion's brand and marketing and promotion expenses (excluding promotion expenses) are * * * 26259 million yuan (about 263 million yuan), accounting for * * * 3.99% of the total, an increase of * * 6417 million yuan or 32.34% compared with * * * 198.42 million yuan in 2023, mainly due to the increase in promotion expenses of new spokesmen and existing brands.

Brief analysis of causes

In 2024, although the overall gross profit margin will slightly increase from 75.30% to 76.43%, due to factors such as low market confidence, insufficient consumer demand, and especially the decline of existing store sales, * * * and net * * * will decline. In addition, the number of * * * generated by retail stores operated by distributors decreased by 25.17%, further dragging down the overall performance.

Future direction

Facing future challenges and opportunities, Wingaid Fashion Group plans to take a series of measures to achieve sustainable growth:

Brand differentiation development path: all brands will further optimize their positioning on the basis of maintaining the existing style and core scenes, such as Koradior will extend to the "exquisite social" scene, NEXY.CO will focus on building a head brand of Chinese luxury women's wear, etc. Implement differentiated pricing strategy: attract more customers and increase market share by widening the price range.

Strengthen brand building: continue to invest in long-term brand building, enrich brand DNA assets, and strive to improve the development ability of outstanding products. Store expansion and optimization: adhere to the strategy of "opening large stores and expanding stores", open flagship stores in prime locations of first tier cities, and promote the stable growth of distribution business.

Supply chain optimization: adopt OEM cooperation priority mode, and gradually transition to FOB mode, * * * control over raw materials and supply chain stability.

In 2025, most domestic garment enterprises will strive to maintain their market position and competitiveness in the future by adjusting strategic direction, optimizing product structure, enhancing brand influence and other measures in the face of complex and changing market environment. We also hope that domestic clothing brand enterprises can get better and better. Come on, winner fashion!