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Bosideng gears up its global ambitions

By Xu Junqian in Shanghai | China Daily | Updated: 2019-12-18 09:54
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A pedestrian walks past a Bosideng store in Yichang, Hubei province. [Photo by Zhou Jianping/For China Daily]

The China Garment Association estimated that the total value of China's down jacket market reached 106.8 billion yuan last year, exceeding 100 billion yuan for the first time in history. It is projected that by 2022, the sales value will surpass 162 billion yuan.

China is the world's largest manufacturer, exporter and consumer of down and feather products. Statistics from the Food and Agriculture Organization of the United Nations showed the number of ducks raised in China accounted for 74.2 percent of the world's total, and the number of geese accounted for 93.2 percent. As a byproduct of the duck and goose farming industry, China supplies more than 70 percent of the world's feather and down material.

Yao Xiaoman, director-general of the China Feather and Down Industrial Association, said while the rising cost of down jackets has partly contributed to the increase in retail prices, a key driver is changing perceptions of consumers, which have encouraged them to spend more.

"While the change was started by foreign brands and companies, it's also a good time for domestic players to upgrade to meet the new demands by taking advantage of the opportunity and our expertise in the industry," said Yao.

Bosideng, for example, has lowered the percentage of its products sold below 1,000 yuan from 47.5 percent in 2016 to 12.5 percent in 2018, while raising those above 1,800 yuan from 4.8 percent to 24.1 percent over three years, according to Business of Fashion.

Meanwhile, it has also had collections displayed at the likes of New York and Milan Fashion Weeks in recent years to boost the brand's image as a trendsetter, rather than a mere clothes maker.

In October 2018, it announced the opening of 100 stores in China on the same day, with the largest one occupying 2,000 square meters in Shanghai. Designed by a French team, the Shanghai flagship store features a facade made up of 28 windows, each separated by a LED wall, while inside customers are invited to try on the products in a room kept at minus 15 C to simulate freezing conditions.

But sales recorded on Bosideng's Tmall e-commerce store show its efforts to upgrade are yet to bear fruit.

Among the e-store's Top 10 bestselling products, none is priced above 1,000 yuan. The collection designed by Gaultier, which mostly retails at between 3,000 and 4,000 yuan, has a sales performance similar to the brand's other high-end offerings, with fewer than 100 pieces sold in one month. The bestselling product is a kid's down vest priced at 79 yuan, with 12,000 pieces sold in 30 days.

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