On March 1, Belle Fashion Group (hereinafter referred to as Belle Fashion) submitted an IPO application to the Hong Kong Stock Exchange, with Bank of America** and Morgan Stanley as joint sponsors. According to Frost & Sullivan's data, Belle Fashion has occupied the first market share in China in the fashion footwear category for more than ten consecutive years, and has increased from 112% further increased to 123%。
According to the prospectus, for the nine months ended November 30, 2023, the company's revenue was 16.1 billion yuan, a year-on-year increase of 128%；net profit was 2.1 billion yuan, a year-on-year increase of 927%；Net profit margin reached 128%, the highest level in the period.
At present, Belle Fashion has laid out a diversified portfolio of 19 core brands, covering women's shoes, men's shoes, children's shoes, clothing and accessories and other categories, including belle, tata, staccato, 73hours, joy&peace, basto, toomanyshoes positioned in fashion, SKAP, Hush Puppies, Bata, Senda functional casual, TEENMIX, Champion, Cat, Ellesse, trendy and energetic OGR, Initial, Moussy, and Sly meet the diverse needs of different ages and occasions.
As a pioneer in the vertically integrated business model of China's footwear and apparel industry, Belle Fashion adheres to the DTC retail model, continuously optimizes the offline retail network, and strategically focuses more resources on the market. As of November 30, 2023, it has more than 8,300 directly-operated stores and tens of thousands of store employees in more than 300 cities. In terms of online business, the proportion of online revenue increased from less than 7% for the year ended February 28, 2017 to 28% for the nine months ended November 30, 2023.
Since the launch of comprehensive digital transformation in 2017, Belle Fashion has adhered to scientific and technological innovation, forward-looking layout of digital construction, and achieved an industry-leading level of digital intelligence. As of the end of November 2023, Belle Fashion has obtained 144 patents related to automated intelligent manufacturing. In January 2024, Belle Fashion obtained the Level 4 Enterprise Level Certificate of the Data Management Capability Maturity Assessment Model (DCMM) led by the Ministry of Industry and Information Technology, and is the only consumer retail company among nearly 100 Level 4 and above enterprises.
Thanks to the expansion of multiple brands on the track, the advantages of online and offline omni-channel networks, the rapid and accurate response of flexible ** chains, and the efficiency improvement brought about by the digitalization of the whole value chain, Belle Fashion has achieved steady profitability and rapid recovery during the pressure period of the industry, and its market share has steadily increased year by year.
Editor-in-charge: Chen Yuyao |Review: Li Zhen |Supervisor: Wan Junwei.
*: Shanghai ** Daily).