Today, it is only 17 days before the opening of the 2022 Beijing Winter Olympics.
The sports industry covers a wide range of fields as an upstream industry. According to historical experience, major sports events often have a strong radiation and pull effect, which can create value for multiple industries such as media and consumption, that is, sports economic effects. The 2008 Beijing Olympic Games were successfully held, China's sports shoes and apparel industry reached the "peak" of growth rate, and the market size increased by 32% year-on-year; in the 2021 Tokyo Olympic Games, Yang Qian won the first gold of the Tokyo Olympic Games for the Chinese team 2 hours later, and the sales of the same little yellow duck card exceeded 10,000 pieces.
(Source: Euromonitor, CITIC Construction Investment Securities)
Standing at a similar time node, the heat of the beijing Winter Olympics-related industries has risen sharply, and outdoor ice and snow sports have been ignited first. It is reported that the popularity of domestic skiing has exceeded the same period in 2019 more than 3 times, the ice and snow sports boom is not limited to the northern cities, the southern cities also have many venues, "driving 300 million people to participate in ice and snow sports" The goal has become a reality.
On the other hand, the Beijing Winter Olympics is also a historical opportunity to carry forward the national tide, national self-confidence, cultural self-confidence, in 2021 "new domestic products" have broken out, fully penetrating consumers' families, workplaces and social life scenes, 2022 will undoubtedly open up a better development situation.
Under the comprehensive expectation, the Beijing Winter Olympics is expected to become a forward-looking guide for many main lines such as the ice and snow industry, digital currency, and clothing, and clearly open up new investment space.
The parent company of the down new power GXG, the Mulsanne Group (1817. HK) re-entered the author's field of vision.
The author mainly focuses on the consumer industry, the apparel field, the outbreak of outdoor ice and snow sports and the expectation of further growth, which undoubtedly provides a certain growth space for the footwear industry, especially for down jacket related enterprises. At the same time, GXG is one of the first brands to penetrate into China's fashion men's wear market, currently has a leading position, has completed digital and intelligent upgrades, and is expected to benefit from the trend of accelerating the consumer market share to leading brands of domestic goods.
That is to say, Mulsanne Group is expected to benefit from the increase in the popularity of outdoor ice and snow sports and the improvement of the prosperity of "new domestic products", with relatively clear performance support.
Looking back at the actual business level, China's down jacket market roughly contains three major types of players, 1) overseas high-end down brands represented by Canada Goose and Moncler; 2) professional down jacket brands such as Bosideng and Snow Zhongfei; 2) other brands such as Uniqlo, Zara, and The North, which have formed a multi-level and multi-angle competitive pattern.
And why did GXG break through to become a new force in down? What are the unique advantages?
First of all, thanks to innovative design concepts and cutting-edge scientific and technological means. GXG "Youth Down Manufacturing Bureau" 2.0 series of fashion outdoor flag, the single product can not only meet the fashion needs of young people, but also match the functional needs of outdoor travel, while using ZERO DOWN zero velvet technology technology, as well as release paper, high-density coated fabrics and other fabrics. Among them, an outdoor down vest with "no down" can achieve -20 to 5 degrees outdoor warmth, wind and rainproof with a large number of air bags combined with minus 20 to 5 degrees Celsius.
Second, innovative content empowers product layout. On the marketing side, the content power determines the quality of the consumer experience, is remembered or not seen, and determines the accumulation of consumer reach efficiency and trust, thereby forming a high potential energy of the brand and generating low-cost consumer connections. GXG "Youth Down Manufacturing Bureau" 2.0 made a strong comeback in the winter of 2021, and the new product show directly jumped out of the traditional catwalk play, moved the show to the free outdoor scene - Qinghai Golmud, and integrated the "pro-life" element into the immersive outdoor multi-scene show.
In addition, the degree of digitization is high, and accurate user portraits are obtained. User portraits are the "embodiment" of people on the digital carrier, which helps to fully understand consumers and the market, and is also the cornerstone of precision development and marketing. Mulsanne Group reached 36% of the online penetration rate in China's fashion men's wear market in 2018, ranking first in the country, and GXG naturally has a strong e-commerce gene. In May 2020, Mulsanne Group and Weimob (2013. HK) to further open up the digitization of the entire industry chain from research and development, supply, sales to consumer feedback. At the end of 2021, Mulsanne Group reached a strategic cooperation with Shadow Knife RPA, which has deeply cultivated the e-commerce field and precipitated more than 600 intelligent automation scenarios and systematic solutions, to further promote the automation of business processes.
From another point of view, GXG can break through, has the unique advantages, and all return to one place, based on a full range of youth transformation, always with the young group, and recognized by the young group as "the brand that understands young people the most".
Gen Z and Millennials, who have experienced the period of the highest economic development in China, have strong cultural self-confidence. Public data shows that young consumers under the age of 35 will create 65% consumption growth in 2021; young people are very fond of domestic brands, according to the report released by Douyin E-commerce, the sales volume of domestic brands on the platform in 2021 will increase by 667% compared with 2020. It also determines that if local clothing brands continue to rise, the first thing is to "be together" with young people.
These also constitute a solid development base for Mulsanne Group, laying the foundation for its future development, and further clarifying that Mulsanne Group is expected to benefit from the popularity of outdoor ice and snow sports and the improvement of the prosperity of "new domestic products" at the same time, and cash in on the company's growth.