He Used To Be The King Of Down Jacket, And He Led Boston To The Battle Of "Two Pioneering".

"We have to achieve 10 billion sales target in 2018. It seems that the problem is not big now."

Gao Dekang, chairman and chief executive of Bosideng's board of directors, revealed the latest revenue of Bosideng carelessly at the One business conference.

He is 67 years old and speaks Mandarin in Changshu.

His acquaintance said he could not stop as long as he opened his speech.

Gao Dekang is a little proud.

In the past year, Bosideng had a beautiful turnover, for example, the number of days of inventory turnover dropped from 151 days to 109 days. Online sales accounted for more than 20%, and new accounts accounted for more than 70%. Sales revenue in the first three quarters of fiscal 2018 increased by more than 30%.

Moreover, taking advantage of a show in New York fashion week, it also broke the prejudice of "brand aging" and "designing too ugly", and wore the international trend on Hollywood stars.

A few years ago, Canada goose was also through the domestic first line star "take goods" fire up.

It has seen that Bosideng, which originally made efforts to weaken the proportion of down garment business and develop "four seasons", saw that relying on innovation and fashion, the down garment enterprises could also get rid of the fate of "watching the sky for dinner".

This pformation is hard won.

Bosideng has cut off many brands that have been vigorously supported over the past ten years, and with the help of Alibaba's technological strength, the replenishment cycle has been shortened to 15 days.

Starting from the village run enterprises in 1976, for 40 years, the "little tailor" grew up to be the helmsman of a leading enterprise.

Now, Gao Dekang is nearly seventy, and Bosteng, 43, has passed away.

But their "two venture" is on the way.

The return of the Emperor

"After 90" Xiaoliang recently wanted to buy a down jacket, friends suggested Bosideng, he refused without thinking: "Bosideng ugly."

I didn't expect my friend to just drop over two links of "100 thousand +" fashion numbers, saying: "Bosteng" can be wet now, and my girlfriend bought it on the other two days ago.

Boston, the fashion index, sparked surprise at the fashion week in New York in September 2018.

Overnight, it changed from the "down jacket" worn by parents to a "down jacket" that Hollywood stars are looking for.

The show that made Bosideng become famous is based on the ancient Chinese word "Jiao" as the theme, Fuchun mountain map as the background, integrating into Chinese elements such as ink and peony, peony, dragon and other Chinese elements, attracting Hollywood star Annne Hathaway, eagle eye Jeremy Rainer and international celebrity Wendy Deng to sit on the spot.

"Big mouth" I wore a Bosideng down jacket.

In the past 2018, Bosideng worked hard.

First, it issued a brand new logo, and then announced that it would be launched at Focus Media billion yuan.

Last October, with the heat of New York fashion week, Bosideng released a series of new products of designers. The three international designers who collaborate were students from former LV and designer Yamamoto Teruji, former design director of the RalphLauren, and "cafe".

Bosteng, which changed the tide, began to "bully the screen". Its friends circle, micro-blog, jowl, and little red book all had its shadow. "WeChat"

Many Hollywood stars were photographed in the streets of Bosideng down jacket, which immediately triggered fashion lovers' pursuit.

After Bosteng resumed the flagship store in London, a Chinese consumer made a short video on the jitter after shopping, and soon there were 238 thousand praise and 7300 comments.

Bosideng's way of being popular is familiar.

The "apple" Canada goose in the down jacket was also first popular in China because of the first line stars and big business people in China.

It is said that for a time, the streets of Beijing were full of "goose clothing" everywhere, no matter whether they were true or false.

Today, Canada goose has entered Tmall luxury channel. In December 28th last year, Canada's goose's first flagship store in Sanlitun was officially opened.

In this round of change, Bosideng's theme is "focusing on the main channel and focusing on the main brand". Whether it is a more streamlined LOGO, or a new product that keeps pace with the trend, or locks up the advertising distribution of the elevator media and social platform, the goal of Boston is very clear, that is, rushing to the young people.

From the perspective of effectiveness, young people are very popular.

Gao Dekang said that last year, double 11, Bosideng more than a dozen high-end products, the average price of 1500 yuan, sold out in 5 minutes, can only be urgent replenishment; Shanghai Nanjing East Road new Bosideng flagship store, new year's day 3 days sold nearly 10 million.

"Look at this speed, it's like no money."

Gao Dekang was a little excited. "Now it's the young people who buy it."

The heat is on the rise and income is rolling in.

According to Bosideng annual report, in March 2018 -9 months, Bosideng revenue of 3 billion 444 million yuan, an increase of 16.4% compared to the same period last year; in the first 9 months of 2018/19 fiscal year, the cumulative sales volume of Bosideng brand down clothing increased by 30%.

The second half is the peak season for down jacket sales, and Bosideng's growth is expected to expand.

Since 2018, Bosideng shares have hit a new high of nearly three years.

Bosideng has also become a fire in Hong Kong stocks in the cold winter.

Last year, the Hong Kong stock market declined, but Bosideng's stock price rose against the trend. It rose to nearly 1.35 Hong Kong dollars per share from the beginning of the year, and nearly doubled to 0.68 Hong Kong dollars.

At the age of 66, he started the two venture.

Inside Bosideng, the pformation in 2018 was called "the two venture".

Gao Dekang was sitting in front of the stage when Boston went to show in New York fashion week.

Boston has been looking forward to this pformation.

In 2016, the central and Guangdong two sessions interviewed "entrepreneur", and some netizens complained to Gao Dekang: "Bosideng's down jacket is really warm, which is much like the brand of middle-aged and old people.

Can you do it better? "

Hearing this, Gao Dekang stared at the ceiling and inhaled.

Then, slowly replied: "we are also reshaping the brand, adjusting the adjustment of the incentive mechanism, changing the mode.

We are doing this. We believe that through years of efforts, we can make products more and more young people.

Brand aging is a false proposition.

Because brands always pursue the most energetic young people, so that enterprises can survive for a long time.

Gao Dekang's helplessness and prudence also reflect the difficulties of traditional enterprises turning around. This is not a problem that can be solved by producing one or two tidal products, but a comprehensive reform of products, brands, channels, talents and supply chains.

Bosideng has its advantages: its products.

Gao Dekang said that for many years, Bosideng persisted in innovation in feather, fabric, technology, and edition, and even built the first international laboratory in the industry.

Gao Dekang, a tailor, is simply obsessed with clothes. Even if he has been a chairman for decades, he can see eight or nine times ten times and see whether he has a good match or 7788.

He said, this is a professional habit.

Bosideng had asked him to make a competitive strategy for the company, and his team had combed several competitive advantages: the brand recognition of Bosideng = down jacket has been deeply rooted in the hearts of the people; Bosideng's professional ability and innovation ability in the down jacket industry are far away from its rivals. Besides, as Adidas, Columbia, Tommy and other international famous foundry factories, Bosideng has the ability to integrate international design, R & D and production resources.

From the perspective of Bosideng's pformation path, it obviously decided to carry forward these competitive advantages.

When people saw Bosideng, it enlarged and enlarged every "down garment" through at least 150 processes.

It also began to integrate international designer resources and design better products.

"Diversification" will not work.

"I feel deeply recently that products must be innovative, brands must be promoted and prices should be raised.

Step up every step. "

Gao Dekang said.

This conclusion was not made by the head. It was Bosideng trying to make a mistake and trying it out.

In the past 20 years, the "two pioneering" Bosteng has returned to the beginning.

Gao Dekang's first venture took the first brand of Chinese down jacket for more than 20 years as footnote.

In 1976, 11 villagers in Changshu, Jiangsu, were shaking off 8 sewing machines with the predecessor of the "down jacket king".

In the more than 10 year OEM, Gao Dekang registered the "Bosideng" trademark in 1992. The name was inspired by the American city "Boston".

In the past decades, Bosideng had suffered a decline in revenue and a cold winter in the industry, but the only time that made Gao Dekang's "jumping out of the building" was in 1994.

At that time, the first batch of Bosideng down clothing went public, but no one asked for it, and more than half of the goods were backlog in the warehouse.

Gao Dekang, who was so anxious that he could not do anything, went to the Northeast research market in person.

After coming back, he made a reform on the fabric, style and edition of down jacket according to the body shape information and demand data obtained from the investigation, and the new products came out very popular.

"In 1995, we produced 680 thousand pieces, sold 620 thousand pieces, and became the first in the country."

Gao Dekang is also an expert in making brands.

Soon after Bosideng was founded, advertising was everywhere, not only on CCTV, but also on the head of the plane.

In 1998, mountaineers dressed in Bosideng down jacket successfully climbed to the top of Mount Qomolangma, making the "roof of the world" the background plate of Bosideng's advertisement.

That is the glory of Bosideng.

More than 10 years ago, it was a great thing to wear a Bosideng down jacket.

But Bosideng also failed to avoid the extensive expansion of the garment industry.

In 2009, Bosideng proposed "multi brand, four seasons and internationalization". Through self creation, stock purchase and acquisition, Bosideng harvested a group of men and women fashion brands such as Bosideng men's clothing, Mogao and Jesse, and entered the field of children's clothing.

Boston's down jacket business is also expanding rapidly under the guidance of the brand strategy.

In 2013, the number of stores in Bostan increased from more than 8000 in the last year to more than 13000.

Bosideng's diversification strategy is aimed at optimizing product mix and increasing profitability.

The method of "not putting eggs in one basket" can really help spread risks.

From the 2009 fiscal year to the 2013 fiscal year, Bosideng revenue rose all the way, from 4 billion 275 million to 9 billion 325 million, more than doubled in 4 years.

But business is expanding, and Bosideng's brand has not increased.

Over the past few years, in the multi brand matrix, children's clothing brand tinkling cat disappeared, fast fashion women's clothing brand Rui Qi quit, casual menswear Mogao was sold, even "Pro son" brand "Bosideng men's clothing", also because of poor management, strategic adjustment, gradually from self to wholesale.

Today, its cooperation with distributors has also been halted.

The reason for this is that the competition in the clothing field is fierce. Supporting a brand requires a lot of input, and the dispersion of resources weakens the shaping of brand power.

In 2013, the competition among the garment enterprises was serious. The blind expansion led to the outbreak of the stock crisis, and the industry entered the cold winter.

Over the next few years, Bosideng, which was criticized for its brand aging and lack of product differentiation, declined continuously in revenue and net profit to 5 billion 780 million yuan, down nearly 40% compared with the peak period.

Bosideng's offline sales point was also cut by more than half, from more than 13000 to more than 4000, until 2018.

Gao Dekang later admitted that in the past few years, Bosideng "may not have managed well in the middle, and there is something wrong with it".

Make down garments like fast fashion.

In January 11th, Bosideng and Alibaba formally signed the A100 strategic cooperation plan, with the help of Alibaba's commercial operation system, and comprehensively digitized pformation.

Today, Gao Dekang is full of pride. He wants to make down garments like fast fashion.

ZARA, the fast fashion king, can dominate the market and rely on the fast turnover of new products.

From design, print, production, and new, ZARA can be completed within 2 weeks. It is very responsive to the trend and can produce tens of thousands of new products in one year.

Gao Dekang said that Bosideng has shifted from "push sales" to "pull replenishment".

The so-called push sale is that the producer pushes the product into the hands of wholesalers and then pushes them to customers.

And pull replenishment, is driven by market demand "enterprise" production.

Through cooperation with ALI cloud to create a "retail cloud platform", Bosideng has been able to achieve a rapid supply chain system of 15 days.

Now, Bosideng can only produce about 40% of the products after the order. After being listed, it will roll the order according to the market reaction and finish the remaining 60% orders within 15 days.

This makes Bosideng more close to the needs of consumers, and also improves the sales rate of products.

It has been revealed that in 2018, Bosideng launched a variety of new products on Tmall, all of which are sold in advance, and orders can be completed within 13-15 days.

Zhang Jianfeng, cloud intelligence president of Alibaba group CTO and Ali, said that cloud is not only a technical issue, but also a business issue.

Not only CIO should be concerned, but also CEO's concern.

Gao Dekang estimated this experience.

"What's more important is data analysis. Don't pat your head. You must analyze the data accurately."

Gao Dekang said that Bosideng's success in 2018 depended on the analysis of the market through information and data, and making a model that exactly meets the needs of consumers.

"Our products have taken on a new look, changing from fabric, style and function to depth, so there must be a channel for them to meet their needs."

Gao Dekang said that Boston will no longer enter department stores in the future, and will prefer to open a new flagship store in the core area of a second tier city. Online channels will focus on the Tmall platform.

Bosideng's online sales have increased rapidly, accounting for more than 20%, and new accounts for more than 70%.

70%-80%, vice president of Bosideng, said that in the next three years, the existing more than 3000 stores will face a new reshuffle in Jinsong.

The pain of inventory that had plagued Bosideng for years has also been alleviated.

The inventory center of the retail cloud platform integrates the inventory data of online, offline stores and stores, and monitors in real time. Once there is a shortage, the intelligent replenishment system will react immediately and timely pfer the goods.

According to Ali cloud, the platform has helped Bosideng reduce the shortage loss by 21%.

Bosideng Research Report from CITIC Securities shows that in fiscal year 2018, the number of days of inventory turnover in Bosideng has been reduced to 109 days, compared with 200 days in 2016 fiscal year and 151 days in 2017 fiscal year.

Now, Bosideng can be seen as a lightweight. What kind of surprise will it bring?