In an interview with reporters, Youngor Liu Xinyu said that Youngor’s net profit in the first three quarters of this year was 1.2 billion yuan. In addition to investment and real estate business, the apparel business earned 463 million yuan, an increase of 26% over the same period of last year, and the gross profit margin of the apparel segment reached 65%. This is relatively high in the industry.
It is worth noting that Youngor, as one of the leading companies in the industry, has seen more signs of transition in recent years. Not only has it involved in real estate, equity investment and other businesses, but it has also begun to adjust its textile and apparel segment, which is the foundation of this industry.
Younger’s transition from manufacturing and operating companies to brand-operating companies has become increasingly clear.
How does the change in the macroeconomic environment affect the performance of the company this year?
Liu Xinyu: Although the labor, raw materials and other costs are rising, the country has adopted a series of measures to expand domestic demand and promote consumption upgrades. At the same time, consumer demand for men's clothing has not decreased. At the same time, the company has improved its own brand and product design concept. Re-adjustment, channel construction, management upgrade, etc. Strengthen the company's own profitability.
At present, the company's sales growth rate of 26% year-on-year, gross margin of 65%, these data reflect the company's healthy development trend and a strong ability to resist risks.
Youngor strengthened its brand and channel construction. At present, what kind of structure is the company's retail network construction?
Liu Xinyu: Since the beginning of this year, the company's “two legs†walk is equal to both brand promotion and market expansion.
This year, the company further integrated, optimized, and improved sales channels, concentrated on superior resources, standardized and institutionalized management in product display, store layout, and personnel training, continued intensive cultivation, enhanced brand image, and adjusted and redesigned the decoration style of the store. Make Youngor's image deeply rooted in the hearts of people.
As of the end of October this year, the company had a total of 2,253 outlets, 547 self-operated stores, 1,284 store counters, and 422 franchised stores. The quantity and quality of Youngor's sales terminals have been greatly improved. The profitability of self-operated boutiques and window malls has been further strengthened and the sales have been further improved.
We noticed that in June this year, Youngor sold a number of apparel subsidiaries, and after 5 months, it also acquired 14 apparel company shares from related parties. what is the reason?
Liu Xinyu: The company had previously adjusted the business of the textile segment, separated some OEM companies, focused on the branded apparel business, and accelerated the transformation of Youngor.
In June this year, a wholly-owned subsidiary, Xinma Clothing, was sold because the acquisition of assets from overseas did not play a significant role in improving the company's performance. At the same time, the profits of the OEM business gradually decreased. Xinma clothing is mainly exported OEM, so the company sold this part of the equity.
After the sale of the new horse clothing, currently Youngor, with wholly-owned subsidiary Xinma International as the main body, acquires 25% of each of 14 companies such as Ningbo Youngor Shirt Co., Ltd. held by Zou International. The purchase price is equivalent to *** 7.54. Billion yuan, which is mainly a continuation of the company's further integration of the apparel sector's equity and resources, is conducive to the company's bigger and stronger branded apparel business and improved the company's overall profitability.
Companies from the initial pure clothing companies, to now involved in clothing, equity investment, real estate and other businesses, some people think that is the transformation of Youngor, some people think that Youngor is "not a good job"? How do you think about this issue?
Liu Xinyu: In the context of the country’s expansion of domestic demand, the company is actually in transition. The company’s chairman, Li Rucheng, has been stressing that during the “Twelfth Five-Year Plan†period, the company’s development goal is to shift from a production and operation enterprise to a brand-operating enterprise, and to consider higher The industrial upgrading at the level changed from technology-intensive to art-creative enterprises, and Youngor was created as a creative and creative culture and art world from garment factories.
It is worth noting that Youngor, as one of the leading companies in the industry, has seen more signs of transition in recent years. Not only has it involved in real estate, equity investment and other businesses, but it has also begun to adjust its textile and apparel segment, which is the foundation of this industry.
Younger’s transition from manufacturing and operating companies to brand-operating companies has become increasingly clear.
How does the change in the macroeconomic environment affect the performance of the company this year?
Liu Xinyu: Although the labor, raw materials and other costs are rising, the country has adopted a series of measures to expand domestic demand and promote consumption upgrades. At the same time, consumer demand for men's clothing has not decreased. At the same time, the company has improved its own brand and product design concept. Re-adjustment, channel construction, management upgrade, etc. Strengthen the company's own profitability.
At present, the company's sales growth rate of 26% year-on-year, gross margin of 65%, these data reflect the company's healthy development trend and a strong ability to resist risks.
Youngor strengthened its brand and channel construction. At present, what kind of structure is the company's retail network construction?
Liu Xinyu: Since the beginning of this year, the company's “two legs†walk is equal to both brand promotion and market expansion.
This year, the company further integrated, optimized, and improved sales channels, concentrated on superior resources, standardized and institutionalized management in product display, store layout, and personnel training, continued intensive cultivation, enhanced brand image, and adjusted and redesigned the decoration style of the store. Make Youngor's image deeply rooted in the hearts of people.
As of the end of October this year, the company had a total of 2,253 outlets, 547 self-operated stores, 1,284 store counters, and 422 franchised stores. The quantity and quality of Youngor's sales terminals have been greatly improved. The profitability of self-operated boutiques and window malls has been further strengthened and the sales have been further improved.
We noticed that in June this year, Youngor sold a number of apparel subsidiaries, and after 5 months, it also acquired 14 apparel company shares from related parties. what is the reason?
Liu Xinyu: The company had previously adjusted the business of the textile segment, separated some OEM companies, focused on the branded apparel business, and accelerated the transformation of Youngor.
In June this year, a wholly-owned subsidiary, Xinma Clothing, was sold because the acquisition of assets from overseas did not play a significant role in improving the company's performance. At the same time, the profits of the OEM business gradually decreased. Xinma clothing is mainly exported OEM, so the company sold this part of the equity.
After the sale of the new horse clothing, currently Youngor, with wholly-owned subsidiary Xinma International as the main body, acquires 25% of each of 14 companies such as Ningbo Youngor Shirt Co., Ltd. held by Zou International. The purchase price is equivalent to *** 7.54. Billion yuan, which is mainly a continuation of the company's further integration of the apparel sector's equity and resources, is conducive to the company's bigger and stronger branded apparel business and improved the company's overall profitability.
Companies from the initial pure clothing companies, to now involved in clothing, equity investment, real estate and other businesses, some people think that is the transformation of Youngor, some people think that Youngor is "not a good job"? How do you think about this issue?
Liu Xinyu: In the context of the country’s expansion of domestic demand, the company is actually in transition. The company’s chairman, Li Rucheng, has been stressing that during the “Twelfth Five-Year Plan†period, the company’s development goal is to shift from a production and operation enterprise to a brand-operating enterprise, and to consider higher The industrial upgrading at the level changed from technology-intensive to art-creative enterprises, and Youngor was created as a creative and creative culture and art world from garment factories.
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