Annunciation teamed up with Korean school uniform brand elite to enter the uniform market

On June 28th, Baoxi (SZ002154)'s own brand, BONO, signed a joint venture with the school uniform brand elite of Korea Hyungji Group. The professional business wear brand BONO and the elite school uniform brand elite ranked No. 1 in the Korean market will formally join forces to enter the Chinese school uniform market, break the existing pattern of the Chinese school uniform market, and inject a fresh blood into the traditional school uniform market. In the near future, all Chinese students will have the opportunity to wear elite brand uniforms and plan to achieve IPO in the next few years.

The joint venture between BONO and elite was established by BONO.

BONO, as a professional wear brand, was established in 2000. It integrates design, production, marketing and service into one, with an annual output value exceeding RMB 1 billion. BONO has sales capabilities of sales outlets and direct sales teams all over the country. Over the past 16 years, BONO has provided more than 60,000 enterprises and institutions with tailored business services, covering finance, education, power, energy, tobacco, communications, transportation, and administration. , real estate and other industries.

BONO has localized cost advantages in supply chain management and can be responsible for sales and market expansion and supply chain management. With the financial and energy industries gradually forming a stable and long-term supply-demand relationship, BONO will concentrate its strengths and vigorously expand emerging markets, especially the education industry represented by the school uniform.

Relying on the thousands of existing education institutions, local colleges and universities, business training institutions and other installation experience, BONO will focus on the development of new school uniform styles and vigorously develop the national uniform market.

Elite, a brand of Korea Hyungji Group, was established in 1969. It is mainly composed of elementary school students, junior high school students, and high school students. It is the first school uniform brand in the Republic of Korea. Elite has its own advantages in product development and brand marketing. There are 230 stores in South Korea. Between June 2014 and June 2015, the annual sales amounted to 75 billion won. The Korean school uniform market share is 25%, ranked first.

With its excellent school uniform fabrics, elite, the industry's best production system and perfect quality management lead the school uniform market. In 2003 Elite hired world-renowned fashion designer Nosungun as the director to design the school uniform. At the same time, Elite operates the R&D Research Center certified by the Korea Association for the Promotion of Industrial Technology to develop fashion models that suit the student's body shape to create a customer-friendly design. Elite has set up an “elite Mum” school uniform appraisal society. It is the only company in the industry to set up a school uniform appraisal society. Each year, it combines the opinions of “elite Mum” members to continuously improve its products to carry out the design and research and development of the school uniforms in the next season. Design is more in line with market demand.

Therefore, Elite is mainly responsible for product development and collaborative brand marketing, which can minimize operational risks and maximize profits.

Based on complementary advantages, both parties plan the first phase. BONO and elite will provide customized school uniform products for high-end private private schools in Shanghai, Nanjing, Suzhou and Hangzhou during 2016-2018. The selection of high-end private private schools is because such schools usually have higher requirements for fashion style, quality of school uniforms, etc., have strong regional spending power and have the right to purchase independently. Afterwards, on the basis of the first phase, it continued to advance nationwide.

Elite representative director Cui Bingwu said: "As the elite of Korean school uniform brand No.1 that displays history and tradition, we will live up to the expectations and create products that satisfy both students and parents in Chinese schools. Please believe us and choose us! ”

After the signing ceremony, Mr. Cui Bingwu, president of Hyungji Group, accepted the exclusive interview of “Clothing Store”:

Q: THE FASHION SHOP

A: Cui Bingwu, President of the Hyungji Group

Q: Hyungji Group is a well-known large-scale clothing group in Korea. Can we briefly introduce the current development status of Hyungji Group?

A: Ying Ying Group is the top five enterprises in South Korea's apparel industry. Starting from women's wear, women's clothing sales rank first in South Korea. In addition to the men's wear, outdoor wear, and school wear categories, it is worth mentioning that Yingying's market share in Korean school uniforms is 25%, which is currently ranked first.

Q: The elite brand is a school uniform brand under the hyungji Group. What kind of features does the brand have and how is it currently developing in the Korean market?

A:elite is in the form of a store. There are 230 stores in Korea. Our main consumer groups are primary school students, junior high school students, and high school students. Compared with other school uniform brands, we have a professional R&D institute that can better improve the product quality and optimize the garment plate type; and we also have good clothing design capabilities, which are developed by professional designers. A beautiful, comfortable, student-friendly outfit.

Q: Why did elite choose to cooperate with BONO to enter the Chinese school uniform market? Are there any chances?

A: As a Korean company, we have to consider China's big market. I very much wanted to bring Korean school uniform fashion to China. It was a good coincidence that the Neighbors were doing school uniforms. It was such a coincidence that we have come together.

Q: In your opinion, what kind of changes will be brought to China's school uniform market through cooperation between elite and BONO's school uniforms?

A: Elite's school uniform has a history of 50 years. We keep up with the fashion trend and constantly innovate and improve the uniform design. With the rapid development of China’s economy, parents’ requirements for children’s wear are increasing, and both the functional and aesthetic requirements are more demanding. Therefore, the school uniform market will have very large room for development in China. It is very far-sighted that the Annunciation Bird can constantly broaden his field. In addition, Shengxi Bird has successfully operated HAZZYS in China. This is one of the reasons I chose to cooperate with Baoxi Bird.

Q: In the future, what kind of big moves will elite and BONO have in China's school uniform market?

A: In South Korea, uniforms belong to the b2c market, and consumers can purchase uniforms directly in stores. In China, it is the b2b market, which is customized by the school. Through this cooperation, Announcement uses the strengths of its own b2b market and combines elite production with sufficient production experience. I believe that in the September opening season next year, we will definitely present our new school uniform to everyone.