Positioning the Kappa brand of sports fashion, the performance in the Chinese market is not ideal. Recently, China Mobile announced the performance report of its sports brand Kappa. In FY2017, Kappa's overall revenue decreased by 9.9% year-on-year to 1.353 billion yuan, net profit decreased by 7.5% to 805 million yuan, and gross profit margin decreased by 0.5 percentage point to 56.2%. At the same time, Kappa's revenue in the Chinese market fell 12.02% year-on-year to 893 million yuan, of which apparel revenue fell 10.6%. Li Ning won the exclusive trademark rights of Kappa in Mainland China and Macau in 2002 and invested in the establishment of Beijing Dongxiang Sports Development Co., Ltd. The former Li Ning CEO Chen Yihong served as chairman. Three years later, Chen Yihong acquired 80% of the equity held by Li Ning. In October 2007, China Mobile was listed in Hong Kong and became the third domestic sporting goods company listed on the Hong Kong stock market after Li Ning and Anta. As of December 31, 2017, Poseidon Sports Limited, which is actually controlled by Chen Yihong, owns a 39.64% equity interest in China Dynamics and is the company's largest shareholder. At present, China Dongfang has Kappa's entire interest in the Chinese mainland, Macau, and Japan, and in 2008 it acquired PHENIX, a Japanese outdoor ice and snow brand. In 2017, Kappa began to attempt cross-border cooperation with entertainment, music, and art in different fields, and strengthened the serial products with the brand DNA attributes, but the sales effect was not obvious. The financial report shows that as of the end of 2017, the number of Kappa brand stores totaled 1,487, including 350 Kappa children's stores, a decrease of 76 compared to 2016. The distribution network mainly covers major capital cities in China, as well as some large cities and towns. During the period, the Kappa brand's sales in the wholesale channel business in the Chinese market was 383 million yuan, a year-on-year decrease of 33%, which accounted for 42.9% of China's sales, which also decreased. On the contrary, self-operated retail sales rose by 15% year-on-year to 510 million yuan, which accounted for 57.1% of the Kappa business in China. The Group stated that e-commerce is an important part of business and will continue to plunge into the domestic e-commerce market in the future. 2017 was the ninth year for Kappa to participate in the Tmall's Double 11th Shopping Festival. On that day, the total net sales of children's wear increased by 30% year-on-year. The children’s wear business was one of the few bright spots. During the period, children’s clothing sales reached RMB 114 million, a year-on-year increase of 32.6%, accounting for 11% of Kappa’s revenue in China. In 2017, Kappa Children's Wear added 88 stores, bringing the total to 350. Underwater flow increased by 59% and online flow increased by 43%. As the operator of the Kappa brand in China, the growth of China's moving main business is somewhat weak. However, China Dongxiang is also engaged in some investment business, and the latter’s revenue has become the vast majority of the company’s revenue. In 2017, China’s investment income reached 942 million yuan, a year-on-year increase of 19.7%. The financial report shows that the share price of Alibaba.com directly held by the group has risen sharply in the past year. The indirect holdings of Ant Financial Services and JD.com Finance also have significant added value. China Dongxiang stated that the investment business has become one of the Group’s important growth engines. In stark contrast to the tepidness of Kappa, both Anta and Li Ning, which were listed on the Hong Kong stock, achieved significant growth in 2017, with annual revenues of 16.692 billion yuan and 8.874 billion yuan respectively. Among them, Anta has become the leader in the domestic sporting goods industry with a total market value of more than 100 billion Hong Kong dollars. As of the closing of March 23, China Dongxiang’s stock price was 1.42 Hong Kong dollars, and the market value was 8.058 billion Hong Kong dollars. In October last year, China Dongxiang appointed Zhang Zhiyong as an executive director and CEO, who had worked with Li Ning for many years and has extensive experience in the Chinese sportswear industry. Under the background of weak main business growth, this time Zhang Zhiyong became the CEO and became an important step for Kappa to seek a reversal. Source: Interface
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3.Disney and Sedex 4P audit factory
4.ISO 9001,IATF16949,Raw material of FDA LFGB MSDS Certificates
. Look forward to your cooperation!