New York Fashion Week Tmall China Day: Dialogue with Jiangnan Cloth How to Break the Rules

With the proximity of the second season of “New York Fashion Week Tmall China Day”, BoF will have a dialogue with the brand responsible for the “Tmall China Day” in the next few days to discuss these achievements in their respective fields. How the brand will use the platform of New York Fashion Week China Day to speak internationally and achieve international growth and influence. Today, BoF first talked with Frank Zhu, the chief financial officer of JNBY, China's most influential business designer, to talk about the current development of the brand, the detailed arrangement of “China Day” and future development plans.

JNBY is a Chinese designer brand released in the 1990s. It insists on the aesthetics of “modern, energetic, interesting and calm” and is committed to providing fashionable and classic must-have items full of new ideas. The brand specializes in the development of materials and process enhancements, and restores the emotions of the design through the wearing experience. Apparel and store design have been thoroughly studied in order to reflect the spirit of “Just Naturally Be Yourself” and bring a new and interesting experience to the public.

The brand parent company Jiangnan Buyi Group was founded in 1994 and is headquartered in Hangzhou, China. Its main business is the creative design of brand clothing, process technology research and development and production and sales, and has a strong team of designers, professional management team, advanced operating mechanism and sales network all over the world. Based on the core values ​​of “Better Design, Better Life”, we are committed to building the best design platform in China and implementing a multi-brand portfolio strategy based on “Design Interpretation of Interest, Quality Life”, active and sustainable. Create a brand image and export a deep, high-quality lifestyle for the multi-dimensional retail market.

Jiangnan Cloth has always insisted on high quality, pursuing uniqueness, breaking the established and constantly innovating. Not only the culture behind the clothing, but also the novelty of life. The group thinks independently, is good at digging, and redefines the fun of fashion and wearing for consumers through daily feelings and discoveries. This kind of fun is not only the uniqueness of appearance, but also the discovery of the joy brought by the "design" in life, from art, to clothing, to life, showing an independent and pure attitude to life.

At present, the group owns the designer brands “JNBY”, “CROQUIS”, “less”, “jnby by JNBY”, “Pomme de terre”, the home series “JNBY HOME” and the new menswear brand SAMO. REVERB, a fashion and environmental brand, has continued to expand its market coverage and generate good brand synergy with its clear design and brand positioning and target customer base. Promote the market influence of the Group.

Q: What is the effect of attending Tmall China Day this time?

JNBY: We are very honored to be invited to participate in this New York Fashion Week. This is an important opportunity to pass Design in China. We also hope that with the special label of Tmall China Day, we will increase the exposure of JNBY brand and Jiangnan Buyi Group on the international stage, and attract more international fans to build the lifestyle ecology of Jiangnan Cloth. ring.

Q: How is the current operation of the brand? Can you disclose some sales, growth and profit figures?

JNBY: Jiangnan Buyi Group advocates a design-driven, multi-brand scale operation and a fan-centered omni-channel strategy. The Group's FY18 revenue was RMB 2.86 billion, up 22.8% year-on-year; FY 2018 net profit was RMB 410 million, up 23.8% year-on-year; same store sales increased by 8.9%.

Q: What will be the series displayed on China Day? What special elements are there?

JNBY: This time China will see the release of JNBY brand 2019SS new series unlimited. The ever-increasing way of information dissemination is constantly changing our lives and our perspective on the world, as well as our creation. For the proliferation of reality, material and information, we have the anxiety of “suffocation”, but it also brings more possibilities. In this series, we reproduce the construction in an easy way, blur the scenes of life, show the diversity of lifestyles, express our attitude towards the present and the future; cross the age and gender, break the rules and “be defined” from the art From ready-to-wear to life, there is a wider margin and form.

Q: What is the current development status of the brand? How much does the overseas market contribute to the brand revenue? How will this market be further developed?

JNBY: The brand went overseas in 2005. The retail network covers all provinces, autonomous regions and municipalities in China and 17 other countries and regions in the world. There are 80 overseas sales outlets in FY18. Outside of mainland China, we continue to maintain profitability in a distribution model. In FY 2018, revenues from Hong Kong, Taiwan and other overseas countries and regions were approximately 27.8 million, with sales accounting for nearly 1% and an increase of 61.0%. Through our current overseas partners, we have come across many JNBY international powders that are very similar to ours. We believe that we have internationalized genes. In the future, we will focus on the development of JNBY and children's wear. The model still gives priority to distribution and develops the international market together.

Q: Compared with the domestic market, what is the biggest problem that brands encounter in the development of overseas markets?

JNBY: Two points, one is the version problem. We plan to try from mature brands. It is not difficult to adjust to the appropriate version of the international market. The other is to find local cooperation with “dreams, funds, and commitments”. partner.

Q: What is the proportion of e-commerce sales? In order to buy and buy with Tmall, what adjustments have you made in the preparation process of the pre-conference?

JNBY: E-commerce sales accounted for nearly 9.3% in FY18. Since August 2015, we have implemented an e-commerce strategy of “synchronized sales, same price and same price”, and the proportion of online sales has increased steadily. As a material designer brand, we believe that offline stores are still the most important experience channel, online is +, we aim to create a omnichannel model of Jiangnan Cloth + to enhance the experience of fans and customers.

In order to realize the “see-and-buy” of some products in this fashion week, the Group first tried to break through the traditional processes and models, from designing the final draft to the production of goods, and finally to retail shelves for less than 30 days. At the same time, this “see-and-buy” show goes beyond the definition of online and offline channels, breaking the current situation of online channel delivery time later than offline, and will adopt online and offline simultaneous sales, consumers can Choose your favorite channel to buy your favorite catwalk style.

Q: Next, what new development plans does the brand have?

JNBY: In terms of brands, we will seize the opportunity of this round of consumption upgrades to build a reasonable scale of operational capabilities in various market segments; adhere to the "fan economy" as the core, create an omni-channel operation model, and continue to seek A scene where fans can create individuality and provide value-added services (the BOX program, cloud command platform, etc. was launched in 2018).

As far as the Group is concerned, we continue to expand the brand and category of designers by means of incubation or mergers and acquisitions, and continue to cultivate new “Jiangnan Cloth Powder” (incubating new brands with different styles and DNA for each segment and owning based on the Group) The unique design image of the unified brand concept “Nature, Self”; SAMO and REVERB have been incubated in FY18 after listing; The principle of incubation: We don’t want to multi-brand for multiple brands, but whether we have the style and design that we want to do. Teacher resources and market demand.)