GXG's parent company's profits soared nearly 300% last year
GXG's parent company, Mulsanne Group, recently released its first financial report after positioning commuter men's wear, its revenue in 2023 increased by 0.1% to 2.329 billion yuan, while net profit increased by 295.7% year-on-year to 37.2 million yuan, and gross profit margin increased by about 3 percentage points year-on-year to 52.0%. Among them, GXG's revenue increased by 7.2% year-on-year to 2.017 billion yuan, and the gross profit margin increased by 3.5 percentage points year-on-year to 54.1%, hitting the highest level since 2019.
LVMH appoints its first Chinese director
Luxury giant LVMH announced that Wei Sun Christianson will officially join the LVMH board of directors at a shareholders' meeting, becoming the first Chinese director. According to the data, Sun Wei has a Juris Doctor degree from Columbia University in the United States, and was one of the first Chinese students to obtain a U.S. bar license, joined Morgan Stanley in 1998, and served as co-CEO of the Asia-Pacific region and CEO of China, playing a key role in a number of major financial transactions. She also served on the board of directors of the American beauty giant The Estée Lauder Companies for 12 years.
ABG Group will acquire Champion
Recently, it was reported that the American company Authentic Brands Group (ABG) will acquire the Champion brand from Hanesbrands for just over $1 billion, and the deal is expected to close at the end of May or early June. It is understood that Hanesbrands confirmed plans to divest Champion in September 2023 as part of its broader strategy to align and position all of its brands for long-term success. Despite the challenges faced by Champion with declining sales and reduced partnerships, its sale has generated interest from a variety of potential buyers.
Phoebe Philo 名 牌次在线下
Phoebe Philo's eponymous brand has announced that more than 100 pieces from its first and second "Picks" collection will be available for sale in Bergdorf Goodman's Fifth Avenue store in the United States from April 11. From May, a second batch of items will arrive at the department store, which also means that the brand will be available for physical sales offline for the first time.
Tmall released its "Total Growth" strategy
Recently, it was learned that Tmall officially released its 2024 brand management strategy: Tmall will fully focus on brand growth and continue to increase the platform's resource investment in new products, new brands and explosive products. Taobao content e-commerce will add 10 billion yuan in cash and 100 billion yuan in traffic investment to achieve the goal of 100% year-on-year growth in user scale. In addition, the Tmall apparel industry will invest an additional 1 billion platform resources to incubate high-quality content live broadcast rooms, vertical talents, etc.