Xinhua Finance Shanghai, March 2 (Reporter Wang Shujuan) Belle Fashion submitted an IPO application to the Hong Kong Stock Exchange on the 1st, with Bank of America ** and Morgan Stanley as the joint sponsors of Belle Fashion's IPO. 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%。
In 2023, as the industry recovers, Belle Fashion will also recover strongly, and various performance indicators will enter the fast lane of growth. According to the prospectus disclosed by Belle Fashion, for the nine months ended November 30, 2023, the company's revenue was 16.1 billion yuan, a year-on-year increase of 128%；The net profit in the same period was 2.1 billion yuan, a year-on-year increase of 927% and a net profit margin of 128%, the highest level in the performance period.
According to the prospectus, 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. In 2023, Belle Fashion will also acquire the emerging brand OGR to expand the trend and vitality track.
According to reports, Belle Fashion adheres to the direct-to-consumer DTC retail model, continuously optimizes the offline retail network, and strategically focuses more resources on the market.
On the one hand, brick-and-mortar stores make optimization and upgrade decisions based on the development strategies of each brand, strategically close stores with poor performance, and focus on improving the efficiency of single-store stores. As of November 30, 2023, Belle Fashion has more than 8,300 directly-operated stores and tens of thousands of store employees in more than 300 cities in China, and according to Frost & Sullivan, Belle Fashion has the largest directly-operated fashion footwear and apparel retail network in China.
On the other hand, Belle Fashion has invested a lot of resources to continue to develop online: according to the prospectus, the proportion of Belle Fashion's online revenue in shoes and apparel has increased from less than 7% in the year ended February 28, 2017 to 28% in the nine months ended November 30, 2023.
As of the end of November 2023, Belle Fashion has obtained 144 patents related to automated intelligent manufacturing. Comprehensive digital transformation and improving the level of digital intelligence have led to the improvement of operational efficiency. At present, Belle Fashion has realized digital applications in all aspects of the whole value chain such as product design, product management, production, and DTC retail.
Editor: Wang Yuanyuan.
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