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Annunciation bird network upgrade network expansion speed
After the global financial crisis, an increasing number of enterprises, including Relief Birds, have come to deeply understand that boosting domestic consumption is the key driver for economic restructuring and growth. Therefore, it is both wise and crucial to refinance at this moment. During the company’s public offering, Zhou Xinzhong, chairman of Goodwill Bird, stated, “The development of our chain marketing network aligns with the company's long-term strategic direction. After years of preparation, we are now entering a period of accelerated expansion and must speed up our marketing network layout.â€
According to the company's announcement, Goodwill Bird plans to raise up to 800 million yuan in additional funds to upgrade its national chain marketing network and add 178 new sales outlets. These include 18 Hi-Bird brand image centers, 80 Goodwill brand sales centers, and 80 San Jie Luo fashion shops. Zhou Xinzhong explained, “We aim to use this opportunity to accelerate market expansion in the Northeast, North China, and Northwest China, creating a second ‘Northeast’ market. At the same time, we will nurture the Southwest and South China markets, helping them grow from infancy to maturity, while continuing to strengthen our presence in East China.â€
This reporter learned that before 2007, Goodwill Bird mainly relied on a “franchise and exclusive franchise†model, using franchise channels to effectively tap into market gaps and rapidly expand its outlet network, reducing costs and inventory. Since August 2007, after the initial public offering, the company began implementing chain marketing network construction projects, evolving its marketing model into a “direct sales and franchise coexistence†approach. By the end of 2008, the company had already established 77 outlets.
Through this integrated model, Goodwill Bird can fully leverage the strengths of both direct sales and franchising, enhancing regional market penetration. Zhou Xinzhong mentioned that, building on the success of the marketing reform, the company intends to fully implement its brand development strategy of “establishing strong bases, opening large stores, and promoting series products.†Based on the current hybrid marketing model, the company will continue to prioritize franchising, appropriately increase the proportion of direct sales, and introduce a joint venture model as an effective supplement.
Data shows that with the continued development of the economy, domestic brand clothing consumption still has great potential for growth. Rapid urbanization and the fast development of central and western regions will serve as key drivers for the growth of apparel consumption, leading to a golden decade for the domestic apparel market. According to statistics from the China National Business Information Center, the Goodwill Bird brand ranked fourth among domestic brands in terms of market share between 2006 and 2008.
The company expects that with the introduction of innovative businesses such as fashion series, profits will see a compound growth of more than 20% over the next 3–5 years. Its future goal is to build the Goodwill brand into a nationally recognized international brand and become a world-class men’s apparel operator. Regarding the future of Goodwill Bird, Zhou Xinzhong remains confident.