Bosiden Group And South Korea SMART F&D Company Sign Cooperation Agreement

Bosideng International Holdings Limited announced today that it has joined hands with SMART, the leading brand of school uniform customization in South Korea F&D established a school uniform customization joint venture to jointly expand the school uniform market in China. SMART F&D is mainly responsible for design and technical support; Bosiden is responsible for channel, marketing and management business.

Allegedly, SMART F&D Company is a leading apparel enterprise in South Korea, and also a leading brand in the field of school uniform customization. It has 229 franchise stores and more than 10 production plants in South Korea, and has won the championship in the South Korean school uniform market for 13 consecutive years. It is widely praised in the South Korean market. In 2014, the market share of SMART brand school uniforms in South Korea reached 23%, with sales of nearly 60 billion won.

Bosiden said that China's school uniform market is huge. In the next few years, as students' demand for personalized and timely school uniforms increases, the domestic school uniform market will further expand.

Bosiden Group said that it hopes to cooperate with SMART brand school uniform Business cooperation, further enrich the product portfolio of Bosiden Group, cultivate new growth points in the subdivided fields, and improve the overall profitability of the Group.

South Korea SMART Shen Kuixian, the chairman of F&D Company, said that at present, the school uniforms of Chinese schools are mainly sportswear, while those of Korean students are mainly suits, which are more fashionable and meet the needs of young school groups for fashion. He believed that in the future, Chinese school uniforms will also gradually develop in the direction of fashion. So as early as 2014, SMART F&D has already planned to enter the Chinese market and actively seek partners. This cooperation with Bosiden will be SMART The first step of brand internationalization.

Bosiden Group, which started as a down jacket OEM and brand, has been expanding its non seasonal clothing business in recent years and has been trying to go overseas. According to www.vogue. com, as of September 30 Bosideng In the first half of the Group's fiscal year, the company's net profit plummeted 48.3%, from 252.7 million yuan to 130.7 million yuan in the same period of the previous year, and earnings per share recorded a 48.7% drop to 1.63 points, compared with 3.18 points in the same period of the previous year. During the period, Bosiden's revenue fell by 10.0%, from 2849.5 billion yuan in the same period of last year to 2.5637 billion yuan. As the Group adhered to the strategy of actively clearing inventory in the previous fiscal year, the gross profit of down jacket business declined. As of September 30, 2015, the Group's gross profit margin fell by 1130 basis points to 36.1%, and the operating profit margin also plummeted by 560 basis points to 5.2%.