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Bosideng bets on building global brand

Updated: 2013-02-05 10:24
By Ding Qingfen (China Daily)
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Today its business includes not only down jackets, but also menswear, which accounts for a growing part of its sales revenue.

During the first half of the 2012 financial year, Bosideng's sales from down jackets rose by 3.8 percent from a year earlier to 1.84 billion yuan ($295 million), accounting for 60 percent of the company's total sales revenue during the same period.

The company has been an original equipment manufacturer for a range of famous foreign brands for many years, a topic on which Zhu refused to elaborate.

"Annually, the OEM production generates sales worth 140 million yuan," Zhu said.

"It's not a small business, but the problem is that the Bosideng brand is not known in international markets. It's quite new, especially in the European market," he added.

This is also why Bosideng is willing to invest a lot outside China.

"Everything is there. We have quality goods, long-term commitment and capital. Why not give it a try?" Zhu said.

But he added promoting the brand abroad is an arduous and time-consuming task.

About five years ago, Bosideng began market research and decided to launch operations in Europe, a market where consumption remains weak.

The ironic result is a Chinese fashion brand investing a lot to enter the debt-stricken European market, while Western retailers and luxury brands are seeking expansion and a firmer foothold in China.

Soon after Bosideng's move to open its London flagship store, Joyce Group, a major Chinese fashion brand, cooperated with Italian designer Romeo Gigli, opening a pop-up boutique in Venice, Italy, Joyce's first presence in Europe.

"We took London as the first step because it is a place that gathers the most well-known menswear brands. We hope to improve our design here and learn from them," Zhu said.

But looking ahead, the first such step for Bosideng is bold and not easy, considering the economic woes in Europe, Zhu said.

"But we are clear that we should go out and build Bosideng into a globally well-known menswear brand through standing firm in the UK and Europe. This is a long-term strategy," he said.

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