Wu Huating Will Replace Wu Jian To Become The New CEO Of Jiangnan Buyi.

According to the world clothing shoes and hats net, Jiangnan cloth 3306.HK, Inc. (3306.HK) announced the replacement of CEO after Thursday, and the co - founder of the company will leave CEO as chairman of the board of directors, while Wu Huating from the Ali department is the company's new CEO, and the appointment will come into force.

Wu Huating served as Vision Knight Capital General Partners Ltd. Victoria Capital Partners last year. Alibaba Before the establishment of CEO Wei Wei Zhe, the fund of Jiaxing fund under the new Swire capital is more familiar with the market. The fund mainly invests in the large consumption area, and Jiangnan cloth is also the investment target of the company. Wei Zhe is also a member of the board of directors of Jiangnan cloth and is a non-executive director.

As the co founder and chairman of the board of directors, Wu Jian has repeatedly expressed in public that he will take advantage of Wei Zhe's industry experience to invest in the spanformation of online fields and channels.

However, so far, the penetration of Jiangnan Buyi in the field of electricity business is still low in the clothing industry. Up to the end of December, in the 2018/2019 fiscal year, only 10.9% of Zhejiang's revenue came from online, less than half of the industry.

according to fashion According to No Agency, an industry research and consulting firm, the total income of China's garment industry in 2018 came from 24.1%, which is higher than the overall level of the consumer industry.

National Bureau of statistics data show that in 2018, the national online retail sales amounted to 90065 billion yuan, an increase of 23.9% over the same period last year. Among them, the online retail sales of physical goods amounted to 70198 billion yuan, an increase of 25.4%, accounting for 18.4% of the total retail sales of social consumer goods, an increase of 340 basis points compared to 2017, the highest in the world and second in Britain.

By the end of 2018, in the stock market turmoil, Jiangnan cloth clothing fell at the beginning of December, the lowest compared with the record high of 20.17 Hong Kong dollars at the end of May 2018. The company's 2018 fiscal year results show a sharp slowdown in the second half of the fiscal year, and in 2018, it became more plagiarism and triggered discussions in social media such as Sina and micro-blog.

In addition, in 2018, Jiangnan Buyi constantly launched a new brand, while trying to pack the group's brand to launch online subscription business. No Agency analyst Christina Ng worried about the company's "doing nothing" and eroding its energy and investment. However, the brand LA SU MIN SO LA launched by the end of the year is valued by the company and believes that there is potential for growth.

The interim results released at the end of last month temporarily dispelled fears that the company would further slow down. In the first half of the year, Zhejiang's revenue increased by 2 billion 27 million 300 thousand yuan, an increase of 22.6% over the same period, and its profit rose by 22.1% to 380 million 900 thousand yuan annually. For the first time, the company has divided its business from children's clothing business to mature, growing and original brand.

Insiders from the south of the Yangtze River have revealed to the local retail observers and no fashion Chinese net that over the past two years, the founders of the company have devoted themselves to the artistic career and led the company to successfully launch the stock market to complete the milestone. Further development may require a new professional manager.

Wu Huating, a 44 year old former 2006-2018 year director of Alibaba (China) Network Technology Co., Ltd., is a senior director in charge of marketing channel management and operation optimization of company brand, business marketing operation and Internet online marketing.

Wu Huating graduated from Zhejiang University in 1997 and holds a bachelor's degree in mechanical engineering. His career began with UT, a Taiwanese consumer goods giant, and entered the technology industry in 2002.

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