Yu Yong, Founder Of GXG, Thinks Of Himself As The Most Difficult Consumer.

In May 27th, GXG's parent company, mosang group, was listed in Hongkong. This is the only Hong Kong Stock Exchange listed on the new retail concept. It is also the only Catterton company in the Asia Pacific region that owns more than 50% men's L Catterton.

Young entrepreneurs

In 2007, Yu Yong, less than thirty years old, founded GXG.

At that time, there were many well-known men's wear brands in Ningbo. But behind the brand is a common category label -- men's suit and shirt brand. "Homogenization label causes them to have some specific dress patterns in the original market atmosphere," which can grow up as a young man in 80s. Yu Yong knows that the original category has not been able to meet the diversified market demand.

Without the background of enterprise and financial resources, Yu Yong knew that he could not "try and make mistakes", but had to walk steadily to every step. To this end, he and his team did a lot of market research. With many years of understanding of clothing and consumers, he soon found a position to be a diversified young fashion man.

When a new brand enters the market, it is urgent to shorten the process of consumers' recognition and recognition. "In all recognition, visual identity is the fastest", Yu Yong quickly confirmed that GXG entered the market with the minimalist color of black and white. In less than a year, GXG quickly gained the recognition of consumers.

Fans of "new retail"

GXG is an early entry into the online sales channel of similar brands in China. Taking advantage of the advantages of the right place and the right place, GXG has ushered in a flourishing period. From 2011 to 2018, GXG continued to rank the top three of the eleven men's clothing sales, or even ranked first in several years. In 2018, electricity supplier sales accounted for 36% of the company's total sales.

At this point, the profit rate of traditional electricity providers has been slowing down. Although the bonus of online sales channels has gradually become the bottom line, the ability and efficiency of online digital operation can be effectively penetrated through other channels, so Yu Yong has put forward "de electricity business" to lead GXG into the "new retail track".

The so-called "de electricity", "not to stop dropping the line, but through the digital ability of the online offline products, inventory, brand concept, do the integrated digital management, remove the barriers to organizational structure", in Yu Yong's view, GXG through years of online and offline business online sales accounted for, the offline channel layout has been much stronger than the same industry situation, as long as the original structure of the single line thinking structure is removed, the Internet digital technology can be applied to all aspects of the company. The new retail mode will integrate online and offline in a more scientific and efficient way.

As a supporter of "new retail", Yu Yong's expectations for GXG are not just clothes and clothes sales. "We are driven by data management, data collection and data model management. GXG will be digitalized in the future, and all digitization will be spanformed into intellectualization.

In May 27th, after two years of preparation, GXG's parent company, mosang group, was listed in Hongkong, becoming the only Hong Kong Stock Exchange listed on the new retail concept. As Yu Yong said, "no matter products or brands, there will be more room for GXG in the future to do things that could not be done before."

Fashionable aspiring people

In the initial stage of entrepreneurship, Yu Yong took the consumer as the center and defined himself as the most difficult consumer. The role is still unchanged. "No matter the layout of the market or marketing, I will first consider the position of the customer."

After entering the "new retail" track, Yu Yong likes to interpret the market and consumer demand with data. "From the customer label, GXG is a more popular brand than the trend." When formulating marketing strategy, customer data feedback will also be focused first. As a result, GXG and BE RBRICK (Japan building blocks bear), GXG jeans and Mike Frederiqo (Holland famous artists) and other brands and artists of cross-border integration.

In addition, GXG has also actively expanded Hong Kong, Macao and overseas markets, and has opened stores in Macao, flash (Japan), Burma, Vietnam and other places. In the future, GXG will continue to enter and open stores in more Asian markets.

From the beginning of the ignorant to the current ease of work, from the lead into the electronic business platform to take the lead in the spanformation of "new retail", more than a decade of precipitation in the clothing industry, so that Yu Yong in the face of changes in the market, more emboldened. He is a young and fearless entrepreneur, a supporter of "new retail", and a leader who leads the brand to a higher level. On this long unknown road, there is a point that Yu Yong will not change, always putting consumers first.