361 Degrees Exclusive Distributor Adds 300 Children's Clothing Stores

According to news on June 30th, 361 Degree President Ding Wu stated that the group will increase its children's product production line in the future and aims to open 300 children's wear products stores during the year, and the number of authorized retail stores will maintain an average annual growth rate of 600 to 800.

According to Hong Kong media reports, Ding Wu, president of the exclusive sports brand distributor 361 Degrees (1361), said during a media interview in Jinjiang, Quanzhou that the group will increase its children's product line in the future. The goal is to open 300 children's wear products stores and authorized retail stores during the year. The number will maintain an average annual growth rate of 600 to 800; in industrial parks, it will invest about 1 billion yuan (RMB, the same below).

The total number of stores is three years to ten thousand

The Ding Wu said that the new children's footwear and clothing brand had recorded orders for more than 40 million yuan at the ordering meeting in September last year, and the large-scale orders conference in March this year recorded 130 million yuan, and the product is expected to be 7 It is until September. As of May, the Group had 280 children's brand stores nationwide, and it is expected to reach 300 goals by the end of the year. The child branding business currently accounts for 10% of the Group's total sales and it is expected to take three to five years to develop. In the future, if overseas markets are to be developed, they will first consider opening up the Malaysian market.

In the first phase of Wuli Industrial Park, two production lines with an annual production capacity of approximately 1.7 million pairs of shoes were expanded and put into production. Currently, the industrial park’s production capacity investment rate is 60%, and the second phase adds two annual production capacity of 1.8 million garment production lines. Half-year production. As of June, the group had 19 production lines, with an annual production capacity of approximately 16.2 million pairs of shoes and an annual production capacity of approximately 2.8 million pieces.

Chief Financial Officer Cai Minduan said that the group has considered raising the price of its products. In addition, due to the long winter season in the Mainland in recent years, it had cooperated with strategic partners in April to discuss signing and locking prices in advance. Compared with the 17% and 10% increase in the prices of footwear and apparel last year, he believes that this year's selling price The increase will also maintain double digits. Ding Wu also stated that the group aims to increase the number of stores to 10,000 within three years.