Consumer demand for shirts is gradually diversifying, and shirts that are both comfortable and stylish will become the most preferred in the future.
When the men's wear market volume is about to exceed trillions, Hongdou Shares (600400.SH) "breaks new ground" into the comfortable track.
Industry insiders believe that men's wear is a subdivision track with relatively minimal fashion requirements and high requirements for comfort, "comfort" is a very important selling point, and there is a lot of room for future growth. Red beans, on the other hand, are bringing a higher quality experience to a more segmented consumer group. At the same time, it also gives the shirt industry a new innovative value significance, and demonstrates the development of Chinese garment enterprises.
Technology empowers shirt changes and solves user pain points
The right to create high-quality shirts for Chinese men may be taken back from abroad.
On March 17, Hongdou Comfort Men's Wear, a subsidiary of Hongdou Co., Ltd., held the industry's first AR shirt press conference and released a new product - Hongdou 0-sense comfortable shirt, which comprehensively showed the comfort characteristics of "0-sense comfortable shirt" in a new high-tech form.
How to produce a luxury-grade shirt that is both comfortable and priced and accepted by the public is a problem that Chinese men's wear companies have been looking for a breakthrough. Hongdou gave the answer.
The reporter learned from the press conference that the red bean 0 sense comfortable shirt matched the luxury-level comfort experience at a price of 399 yuan, redefined the new standard of comfortable shirts, and let more people wear luxury-grade comfortable shirts.
A comfy shirt that starts with a rigorous selection of fabric materials. The so-called "0 sense", that is, 0 pressure, 0 wrinkles, 0 friction, 0 constraints, how to make the fabric achieve the ultimate comfort experience of 0 sense?
Hongdou men's wear visited and consulted well-known high-end material suppliers at home and abroad, repeatedly compared and studied various performance materials, combined with international design and ingenious technology, to create a delicate and light "China and Austria functional fiber blend" fabric. At the same time, the fabric pioneered the ratio of red bean ultra-fine denier fiber, which is finer than silk, achieving no ironing and easy care.
The comfort technology of 0-sense shirt fabrics does not stop there, and the use of Swiss HeiQ polymers has injected more technology into the shirt fabrics. Hongdou Men's Wear has cooperated with the world's leading fabric technology company to pioneer the addition of Swiss patent HeiQ polymers to the shirt, allowing the shirt to sense the surface temperature of the body, achieve intelligent temperature control, and help the human body temperature control in a comfortable state. In a hot environment, molecules form breathing holes, drain moisture and sweat in time, and keep the body surface dry; under cold conditions, molecules form an expansion space, lock the body surface temperature in the space, and improve the warm attributes of the shirt.
The launch of the "Red Bean 0 Feeling Comfortable Shirt" has successfully solved the multiple wearing pain points of ordinary shirts that have long been uncomfortable, weak elasticity, poor breathability, difficult to take care of, and the fit is not fitted, and the ultimate pursuit in the field of shirts has been created with scientific and technological materials, exquisite craftsmanship and comfortable fits.
It is worth mentioning that the sales volume of hongdou 0-sense shirts on the Jingdong and Tmall dual platforms of shirt brands is far ahead, and the number of visitors to the official flagship store of Tmall Hongdou has increased by 242.3% compared with last year's Double Eleven.
As a national brand rooted in the Chinese market, Hongdou Men's Wear has a natural advantage in understanding Chinese male consumers.
Based on consumer demand, focusing on comfortable 65 years of Red Bean Men's Wear, hopes to create a new generation of comfortable shirts through modern technology and truly solve user pain points.
Shenwan Hongyuan analyst Wang Liping told the first financial reporter: "Fabric innovation is very important for the competition of clothing, because the clothing industry is no longer driven by marketing, so it is very necessary to do articles in science and technology." ”
Precise cut into the comfortable track
Driven by the development of the national economy, the development of China's men's wear market is good. From 2016 to 2018, the market size of the men's wear industry in the mainland increased year by year, and the market size of the domestic men's wear industry reached 687.6 billion yuan in 2016, which is expected to reach a compound growth rate of 9.6% between 2018 and 2023, and it is expected that the market size of China's men's wear industry will increase to 1307 billion yuan in 2023. The huge market means great opportunities, coupled with the increasingly awakened cultural consciousness and cultural self-confidence of the Chinese people, the national brand has ushered in the best era.
QuestMobile's 2021 Men's Consumption Insight Report points out that 55% of male users who spend more than 1,000 yuan online per month, higher than the proportion of women (45%). Shirts, which are a more common category in male consumption, are suitable for more dress scenes of consumers of different ages, with both market capacity and high repurchase rate.
As a traditional mature industry, textile and garment has more than 180 A-share listed companies in the whole industry chain. At present, the trend of clothing consumption upgrading is obvious, and the high-end sales volume in the industry has surged. As a long-established brand of garment enterprises, Hongdou Co., Ltd. has been focusing on the main business of clothing and has experienced several cleanses of consumption waves. How to stand out in an industry where competition is intensifying and individual stocks are clearly differentiated? How to reflect the "acceleration" in the capital market?
Hongdou pioneered a new track for comfortable menswear. At the same time, the rise of domestic products, the men's wear market gradually returned to the local, most of the men's wear brands are habitually pursuing fashion, trend. According to market survey data, in the market size of domestic men's wear, the purchasing power that can be impressed by "comfort" in 2025 is about 350 billion.
Not long ago, on March 9, Hongdou co., Ltd. officially launched a new strategy of "classic and comfortable men's wear". The new strategy is clear, Hongdou men's wear is based on 65 years of brand history, comprehensive strength of enterprises and other market accumulation, in order to achieve sustained growth in business scale, market competitiveness to a new level, put forward the path of "returning to the classic foundation, docking comfortable needs".
In Wang Liping's view, the current industry concentration of men's wear is relatively scattered, compared with women's pursuit of fashion, men's wear will have higher requirements for comfort. If there is a product that focuses on "comfort", it is a very important selling point, and from such a point, the future growth space is still quite large.
It is understood that Hongdou shares actively carry out high-end transformation, since hongdou shares and Junzhi Consulting signed the "Strategic Consulting Service Agreement" last year, the capital circle is more concerned about the transformation and upgrading after its cooperation with Junzhi.
Recently, the industry research weekly report released by Shengang Securities mentioned: "Learning from Bosideng, it is recommended to pay attention to the four enterprises that cooperate with Junzhi, Jiumuwang, Mengjie, Aokang and Hongdou Shares." These four companies have a high degree of similarity with Bosideng, are in a leading position in their respective fields, and are facing similar dilemmas to Bosideng in that year. After cooperating with Junzhi, it is expected to replicate the success of Bosideng, and it is recommended to focus on long-term development. ”
Hongdou's new strategy of "classic comfortable men's wear" is based on the changes in the macro environment, the upgrading of the men's wear industry and the comprehensive judgment of consumer comfort needs. Hongdou seizes the opportunity in the tide of the times, while tapping the "classic" potential of the national brand itself, anchoring the "comfortable" new track, completing the transformation and upgrading of the brand, which not only meets the internal needs, but also caters to the external needs, and makes a good demonstration for the development of Chinese garment enterprises.
Seize new opportunities in the digital economy and transform and upgrade established enterprises
With the rapid changes of the times, the changes in national policies in the general environment, the development of the economy, and the changes in the market environment, investment environment, and consumer concepts have made clothing brands need to change their business strategies in a timely manner and open up a road of transformation and upgrading in the great changes of the times.
In the face of the new development environment, how to find out how Chinese garment enterprises can find their own advantages and better achieve high-quality development, Zhou Qi, full-time vice president of the China Garment Association, put forward two suggestions, one of which is to "seize the opportunity period of digital economy development". The China Garment Association also regards "digital transformation" as one of the main lines of development of the garment industry.
Hongdou has made good achievements in deepening the reform of digital intelligence. The Hongdou Industrial Internet Platform was approved by the Ministry of Industry and Information Technology as a pilot demonstration project of the Industrial Internet Platform; the first 5G intelligent flexible factory in the apparel industry was built, and the production efficiency was greatly improved; and the Hongdou Men's Clothing Official Mall Mini Program won the "Industry Benchmarking Award" in the category of Tencent Mini Program Multiplication Action Clothing. In addition, the Hongdou Men's 1,000-square-meter Smart Flagship Store located on Zhongshan Road in Wuxi City also shows the consumption scenario in the era of digital economy, which is the rapid development and active practice of enterprises in the digital economy.
In addition, in the construction of the supply chain, Hongdou shares in 2021 to continuously accelerate the application of the industrial Internet in the field of supply chain At present, Hongdou shares have established a mature supply chain system to achieve collaboration between enterprises; including the construction of three major parts of supplier collaborative production, manufacturing and logistics. At the end of 2021, it won the honor of jiangsu province supply chain innovation and application key cultivation excellent enterprise.
From the perspective of financial performance, Hongdou Co., Ltd. achieved operating income of 644 million yuan in the first quarter of 2022, an increase of 10.92% in the same period, and achieved a net profit attributable to the mother of 29.888 million yuan. Compared with the same period last year, the decrease in net profit was mainly due to the impact of the epidemic in Jiangsu, Zhejiang, Shaanxi, Anhui, Shanghai and Henan, the company's high-end transformation and upgrading consulting fees and other expenses increased, and the corresponding net profit decreased year-on-year.
In the apparel industry, due to the outbreak of the epidemic in many places in China in March, especially the offline retail in first-tier cities such as Shanghai and Shenzhen, the Q1 sales performance of many brands of clothing has weakened month by month. Under the influence of the dual factors of the decline in industry prosperity and the strategic investment period, Hongdou shares have maintained stable development in Q1 as a whole, and the online business has continued to break through.
Hongdou has a deep historical background in clothing and is rising from a national brand to a leading brand in the industry. All along, Hongdou strives to maintain inexhaustible innovation vitality, deepen the reform of digital intelligence, continue to break through, innovate and lead, and better meet the needs of comfort with the help of scientific and technological power, giving the shirt industry a new innovative value significance. At the same time, Hongdou shares are shifting from "Made in China" to "Made in China", unswervingly walking on the road of revitalizing national brands, and highlighting the charm of Chinese brands to the world.