On August 18, the Septwolves brand strategy conference was held grandly. The press conference announced that the Seven Wolves will open a new era of fashion on the road of the pioneer of Chinese jackets; and the Seven Wolves financial report released immediately afterwards confirmed the arrival of this era from the data.
On August 20th, Septwolves (002029.SZ) announced the first half of 2021 financial report: total operating income was 1.542 billion yuan, an increase of 13.88% year-on-year; net profit was 82.702 million yuan, an increase of 214.15%; net profit after deduction was 82.134 million yuan. A year-on-year increase of 17,375.63% . If compared with the first half of 2019 before the outbreak, the seven wolves' net profit after non-deduction has increased by 20%, which shows the steady pace of development. While the business performance is outstanding, Septwolves continued to strictly control sales expenses. Sales expenses in the first half of 2021 only increased by 7.89% year-on-year to 343 million yuan. The main increase in expenses was used for advertising expenses.
As the negative factors of the epidemic gradually dissipated, and the boom in domestic consumption continues to rise, the prosperity of China's clothing industry continues to rebound. According to data from China Textile Information Center, in the first half of 2021, the 46 textile and apparel professional markets (including market groups) monitored by the circulation branch totaled 596.70 billion yuan, a year-on-year increase of 43.93% and an increase of 11.52% over the same period in 2019. Among them, the turnover of 35 markets increased year-on-year, accounting for 97.76% of the total turnover, with an average increase of 49.41%; the turnover of 11 markets fell year-on-year, accounting for 2.24% of the total turnover, with an average decrease of 44.68%.
Of course, while the market is booming, competition in the industry has become increasingly severe. The Septwolves achieved good results in the first half of this year, which are inseparable from their brand philosophy and unique creative and innovative products. The seven wolves who have been cultivating Chinese jackets for 31 years continue to work hard on this track, helping their performance continue to be at the forefront of the industry, and the reputation of "king of jackets" is well-deserved.
In the past years, the audience of the Septwolves brand has continued to expand and shows a trend of diversification of ages . As the earliest men's jacket brand in China, what did Septwolves do right ?
Any successful company is inseparable from the success of the three levels of enlightenment (corporate culture), taking advantage (industry trends), and superior skills (methodology) . From these three dimensions, we can clearly see how the seven wolves have reached the top of the "king of jackets" step by step in the past 31 years.
Taoism-"Wolf Culture" has been refined, continued to develop and evolve , and iteratively evolve
Looking at China’s clothing industry, unlike some clothing brands that have experienced some swings to clarify their development direction, Septwolves has a clear positioning at the beginning of its establishment, always focusing on the major categories of menswear, and focusing on the sub-categories of jackets, consumers are the first time Thinking of the Septwolves brand, the label of "Men's Jacket" came to mind, and the brand positioning was clear. This has also contributed to the fact that Septwolves has ranked first in the market share of jackets for 21 consecutive years.
Of course, good brands do not only rely on a slogan or a symbol. The spiritual connotation that is deeply rooted in the hearts of the people is the kingly way to enhance consumer loyalty and stickiness. As a company that loves the country and the party, in June this year, on the occasion of its 31st anniversary, the Seven Wolves announced the official opening of the "Red Wolf House", inheriting the red temperament and strengthening the sense of purpose of "serving the people". In July, Septwolves was featured on the cover and cover of the 100th anniversary of the founding of the "China Economic Weekly". The chairman of Septwolves said in an interview: "Wolves are a symbol of brand attitude: those who struggle endlessly, move forward courageously, and cooperate as a team."
The Seven Wolves, which focuses on men's clothing, takes "men not only one side" as its core proposition, innovates and adheres to the wolf-like struggle culture, and embodies social responsibility in every step of the company's development. While creating high-quality fashion and design, it minimizes environmental damage and implements the purpose of protecting animals. Seven wolves use the "Guardian of TA" series to persevere in fulfilling the responsibility and mission of the current apparel industry to protect the environment and animals.
Beginning in March 2020, Septwolves and Yunnan Green Foundation have launched a charity cooperation, launching the [Nature Guardian Series T-shirt] for the first time. In March this year, the two parties jointly participated in a comprehensive visit to the Mangxing River Philip's Langur Reserve in Mang City, Dehong, Yunnan. After the heavy rains in Henan, the seven wolves donated materials worth 10 million to the disaster-stricken areas immediately, and organized seven wolves rescue teams to go to the front line to allocate and distribute materials, reflecting the national brand's homeland feelings.
Relying on its long-term sense of brand mission to actively undertake social responsibilities and its outstanding performance in the field of public welfare fashion innovation, Septwolves won the "2020 Responsible Brand Award" and "2020 Public Welfare Innovation Award" at the 10th China Charity Festival.
Every step taken by the Seven Wolves in the past few decades is telling the world that appearance and style fashion can continue to introduce new ones, but the connotation and brand tonality will last forever, which is the best display of corporate culture.
Power——The power of aesthetic discourse spreads eastward, and Chinese jackets build cultural self-confidence
Seven wolves can continue to lead the industry thanks to its grasp of the industry trend and innovation.
In recent years, as China's national strength has continued to increase, the cultural self-confidence of the Chinese has also increased day by day . In the field of consumption, the power of aesthetic discourse has gradually spread, and consumers' identity and national pride of Chinese brands have become the main logic of generation Z consumption. The seven wolves take advantage of the trend, take advantage of the trend, and use the Chinese jacket as an anchor to build culture and brand confidence.
With China's cultural self-confidence and Chinese aesthetics going further to the world, Chinese clothing brands have also ushered in a huge opportunity for domestic re-emergence and to the world stage. Data show that in the past ten years, the average annual compound growth rate of the market size of China's menswear industry is 6.82%, increasing to nearly 600 billion. The country is at a new stage of development, and it is proposed to "accelerate the formation of a new development pattern with the domestic cycle as the main body and the domestic and international dual cycles mutually promoting each other." This is a major development opportunity for domestic brands. With the continuous improvement of national self-confidence, it is an irreversible long-term trend for domestic brands to replace imported brands, and the market share of domestic brands will increase rapidly.
And the current main force of consumption-Generation Z, has gradually strengthened its sense of identity with national brands. As their consumption power gradually rises, Chinese brands can be said to be ushering in a bright moment. The Seven Wolves, while focusing on inheriting the classics, seek innovation and change, and exert their efforts on the young track.
According to the survey data of iResearch, 80 and 90 grew up in the era of rapid economic growth and rapid improvement of people's cultural level, and they have higher demands on the material and spiritual levels. After the post-80s and 90s became the main consumer, the trend of consumption upgrading became more obvious, brand awareness was strengthened, and the requirements for product quality were improved. Among them, the clothing field is the consumer area that Gen Z people pay attention to, and the proportion of attention is close to 50%. Their consumption expenditure in the clothing field accounts for about 10%. In terms of consumption concepts, Generation Z pays more attention to the spiritual core, not obsessed with big names and luxury goods, but hopes to conform to their own aesthetics and express their own characteristics.
Based on the accurate analysis of the target customer group born in the 80s and 90s, the Seven Wolves showed a gradual trend towards younger, more scene-oriented, and attitude-oriented marketing trajectories, embarking on a new path to reshape the vitality of the brand. In recent years, Seven Wolves has been committed to exploring the attitudes of young people. It not only launched young fashion product series and brands, but also established the China Jacket Fashion Trend Research Center with the China Designers Association to unite the strength of designers to explore the combination of design and function to lead the development of fashion trends. For example, in the "Wolf Totem" series, the seven wolves hired international designers to design independently, which organically blended traditional Chinese culture with the new fashion of young people.
The 2021 Spring/Summer series launched by Seven Wolves this year is based on the theme of "Guardian • Symbiosis", "Domineering President" Ming Dao, "Dream Chaser" Bai Jugang, "Unruly and Unruly" Ruan Jingtian, "Fortitude and Tenacious" Zhang Yi, "Sweet Cool Boy" Wu Jiacheng and so on, unanimously choose the seven wolves 2021 spring and summer series jackets. Their interpretation of the seven wolves jackets not only gives new vitality to the brand concept of "men not only one side", but also highlights the different personalities and backgrounds of young men today. In the autumn and winter of 2021, the seven wolves will continue the concept of #动物ä¿æŠ¤#, using the jacket as the carrier and nature as the context to explore the infinite possibilities of male spiritual power. Septwolves adopts an ageless, fashionable, and sustainable way of thinking, dialogues with young people in a way and context that they are willing to accept, and constantly upgrades the brand to be younger.
In addition, Septwolves also emphasizes innovative gameplay in marketing to achieve new heights. In the past Father’s Day, many brands have carried out holiday marketing, but the cross-border marketing of Septwolves and Shuke has a unique perspective. Through brand linkage, it conveys to the audience that the caring father starts from understanding the father, and then uses the brand's own product advantages. , Launched a joint gift box. This move quickly aroused the emotional resonance of the young group and even the fathers, strengthened the secondary communication, pushed Shuke and the seven wolves to the mental level of consumer cognition and emotion, refreshed the user's inherent impression of the brand, and promoted The interaction between brands and consumers has opened up a new pattern of cross-border marketing.
As a large-scale private enterprise in the apparel field, shaping corporate culture and keeping up with fashion trends are inevitable factors for success, but whether the brand can endure for a long time is still based on the product. Relying on excellent product quality, excellent innovation and forward-looking, strong brand social influence, Qipilang relies on the #狼系型动焕新我# theme marketing case and "Be the guardian of TA" series of T-shirts in 2021. Won the "2021 Outstanding Marketing Creativity Award" and "2021 Outstanding Quality Manufacturing Product Award" at the Quality Festival and Global Consumer Leadership Summit. Whether it’s Generation Z, Generation Y in the 80s and 90s, or the classic post-70s business people, the current products and experiences of Septwolves can meet the diverse age groups and better interpret the phrase "men are not only one side". ".
Technology-Multi-dimensional strategy to create a hard-core "Chinese jacket"
In addition to working hard on products, the online and offline omni-channel layout is also the focus of the work for Sevenwolves this year. For online channels, Septwolves mainly focus on live broadcast e-commerce and community e-commerce, expand emerging e-commerce channels such as Xiaohongshu, WeChat Mall, Douyin, etc., and plan a series of marketing activities for emerging channels to continuously expand the audience. Seven wolves keep up with the trend and shocked Douyin on April 20, 2021, launching the theme of #狼系型动焕新我# nationwide cross-dressing mission, unlocking new high-end marketing methods, and attracting more than 1 billion views. In the list of Douyin apparel and footwear brands, the Seven Wolves also rose from 13th to 2nd, setting a new level of "circle fan". In April this year, the #狼系型动焕新我# theme marketing case won the "2021 Outstanding Marketing Creativity Award". This marketing plan allowed Seven wolves to jump from 13th to 2nd in the Douyin apparel and footwear brands list.
The financial report shows that the online channel revenue of Seven Wolves was 638 million yuan, a year-on-year increase of 7.17%, accounting for more than 40% of the total revenue, and the gross profit margin was 36.77%. Among them, the transaction amount from Tmall was 144 million yuan, the transaction amount from JD was 66.362 million yuan; the transaction amount from Vipshop was 143.6 million yuan.
With the transformation of the overall sales model of the apparel industry, brick-and-mortar stores have transformed brands from traditional sales channels to windows that provide customer experience and display brand images. Septwolves leverages its unique terminal image and vision such as boutique clubs to integrate digital intelligence through the entire platform and firmly grasp private domain traffic. Recently, Seven Wolves announced the full launch of the terminal optimization strategy, and stated that "the image strategy is the spiritual core of brand development". It will complete the optimization of all terminal stores within two years and launch more than 200 "Jacket House" experience stores. To optimize the online and offline sales and experience channel structure, Septwolves not only wants sales, but also allows customers to enjoy the ultimate service and experience.
Soon after the Tokyo Olympics closed, the Seven Wolves announced at the August 18 strategy conference that they had signed Su Bingtian as the brand spokesperson. Su Bingtian, who entered the men's 100-meter final, has become the "new top class" sought after by the younger generation with the spirit of constantly breaking through the limits and never giving up, linking the national sports enthusiasm and national pride. Zhou Shaoxiong, chairman of the Seven Wolves, said that Su Bingtian is the pride of China and Asia. His pursuit of perfection fits well with the Seven Wolves. Just like Su Bingtian's ten-year increase in speed, the Seven Wolves also have this indomitable spirit. Decades of focusing on menswear, jackets, and creating classic-quality corporate development paths have brought Chinese men's fashion to a higher stage.
At the same time, Seven Wolves and China Net, Xinhua News Agency "China Top Brand" magazine, the Publicity and Education Center of the Ministry of Ecology and Environment, and the China Fashion Designers Association jointly launched an in-depth cooperation strategy to focus on the core category of jackets in many ways. Seven wolves hope to rely on their past years of steady and steady experience to create a "Chinese jacket" business card.
Seven wolves also have a clear strategic layout for the future development path. At the just past strategy conference, Chairman Zhou Shaoxiong said: "Seven wolves will focus on the core of the'Chinese Jacket' in the future, and carry out strategic layout from four aspects: cultural strategy, sustainable development strategy, fashion rejuvenation strategy, and image upgrade strategy. In terms of cultural strategies, the perfect combination of content and products, showing Chinese attitudes, and promoting positive social energy; in terms of sustainable development strategies, integrating environmental protection concepts and aesthetics through environmentally friendly products, and using fashionable products to evoke people’s protection of animals and nature. Consciousness and environmentally-friendly consumption habits; in terms of fashion rejuvenation strategies, taking fashion trends as the leading factor, uniting the design power of global designers, exploring the perfect combination of fashionable aesthetic elements and functional technology products, leading the development of jacket trends; in image In terms of upgrade strategy, the new terminal image project was launched in an all-round way, the channel structure was optimized, the channel image was enhanced, and the upgrade and transformation of all terminal stores were completed within two years.
Thirty only, the future can be expected
31 years of continuous profitability, the brand is evergreen, and the seven wolves have always maintained the wolf spirit of "forge ahead" and "indomitable". Since the beginning of this year, the seven wolves have been recognized by the market and consumers in many fields.
In March 2021, Septwolves won the title of "Advanced Unit of Standardization Work" at the 2020 National Apparel Standardization Technical Committee and China Apparel Association Standardization Technical Committee Joint Annual Meeting; In June 2021, Septwolves won the annual fashion of Ruili "Leon of Men" The Jacket Brand Award continues to be the top spot in the sub-categories. In addition, according to the 2021 (29th) Chinese market commodity sales statistics co-sponsored by the China Business Federation and the All-China Business Information Center, the seven-wolf jacket has ranked first in the comprehensive market share of similar products for 21 consecutive years (2000-2020). And the first place in the comprehensive market share of similar products in 2020. At the 10th CFS Financial Summit, a large-scale event brand jointly created by many domestic financial and mass media, Septwolves won the "2021 (Industry) Influential Brand" award, and Chairman Zhou Shaoxiong was honored as the "2021 (Industry) Influential Person". These are all affirmation of the quality design and brand influence of the seven wolves.
In the post-epidemic era, China's economic recovery is still leading the world. When the difficulty of epidemic prevention and control in other regions is increasing day by day, many overseas orders have returned to China, which has promoted my country's clothing industry to maintain a high level of prosperity. As the fashion leader of Chinese jackets, Septwolves is China's first menswear listed company, and has maintained a record of continuous profitability since its establishment. The growth in performance and overall business progress in the first half of 2021 will not only benefit from the improvement of the epidemic in 2021 and the recovery of consumption, but also the clear development strategy of the Seven Wolves, which will continue to deepen the main clothing business. In the future, Septwolves will continue to write the legend of the industry with strength, continue to refresh the definition of men's jackets with continuous product innovation and style breakthroughs, lead Chinese jackets to the international stage, and convey Chinese attitudes to the world.
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