Bosiden Closes British Stores: A Correct Choice Based On Time And Situation

At the beginning of this year, the British fashion media Draper reported that Bosiden's flagship store located at 28 South Molton Street, Mayfair District, London was closed. Then came the voice of skepticism in the domestic industry. The media was even more over interpreting, creating and misleading public opinion. They completely forgot their objective, fair and impartial stance and attitude in reporting, and forgot the objectivity and depth of thinking about news that media people should have, just emotional and rhetorical reporting, Only focus on the influence of communication, not the persuasiveness of communication.

Gao Xiaodong, vice president of Bosiden Group and chairman of Bosiden Men's Wear, said in an interview that the London flagship store is Bosiden's own property, which is far from being closed, let alone Bosiden's failure to give up the overseas market and the road to internationalization, but a phased "suspension of business". In recent years, Bosiden has established itself Overseas financing , Rongzhi, expand international influence and sales, and the products have already been successfully introduced to Japan, the United States, Canada, Russia, Switzerland and other countries.

"Previously, Bosiden London flagship store only sold Bosiden men's wear, and the product is relatively simple, which may not meet the needs of local consumers in a short time. Bosiden Group must readjust its brand strategy and product strategy, and will re launch after further improvement." Gao Xiaodong told reporters. It is reported that the Group decided to rent the property due to the instability of the retail market after the UK's withdrawal from Europe and the return on investment. "This is responsible for the company, as well as all shareholders and shareholders of Bosiden."

In fact, when we opened our shop in London, Bosideng The senior management knows that its advertising effect is greater than the sales revenue of the store itself. So from the very beginning of the investment, Bosiden regarded this London store as a long-term business, and assumed more of the function of promoting the brand. After several years of operation, the London flagship store has effectively demonstrated the brand image of Bosiden, and has enhanced the popularity of Bosiden in overseas retail markets and financial circles. At the same time, it is a symbol of responsibility, courage and strength to explore the way of overseas expansion in line with Chinese brands and accumulate more experience for Chinese brands to go global.

According to Gao Xiaodong, Bosiden Group will focus on the domestic market in the short term, but will pay close attention to the latest developments in the overseas market, and further develop the overseas market when the time is right. Obviously, the opening and closing of Bosiden's flagship store in London are Bosiden's strategic decisions based on the situation and time. We should all look at the long-term and future development. In fact, from the perspective of capital investment, Bosden's property in the West End of London is a good investment. As a real estate expert said, "although Bosiden has been quite frustrated in brand internationalization, it is definitely an expert in overseas real estate investment."

According to the data, Bosden London flagship store is located in the most prosperous Oxford Street Bond Street business circle in London, next to the Bond Street subway, with an annual passenger flow of more than 24 million High end department store Selfridges shopping mall and British designer brand boutique street, nearby merchants include boutique buyers Browns, French clothing brands Maje, Sandro, The Koops, Zadig&Voltaire, etc.

"As a real estate agent in London, we may never encounter such a deal in our lifetime." MFA, a real estate agent in London, said that it is very difficult to reach an agreement on purchase rather than lease in this street.

Five years have passed since 2012. British investors have made a simple estimate of the current value of Bosiden Building by comparing the transaction prices of nearby properties. If the latest final price of 143 New Bond Street, which was concluded in November 2016, shows that Bosiden Building has a market value of 51.42 million pounds (about 440 million yuan), although the rent has been charged less for five years, But asset appreciation has doubled.

In addition, next year a new subway line, Crossrail 1, will be officially opened in Bond Street. Bosiden Building is only 20 meters away from the Bond Street subway station. It is expected that the building will continue to appreciate after the opening of Crossrail. If Bosiden has paid a high tuition fee for expanding overseas markets in the past five years, the tuition fee has already been earned from the appreciation of the building. All this is to further consolidate the firm foundation for the company's international development.

For more information, please pay attention to the report of World Clothing, Shoes and Hats Network.