On the evening of April 27, 2022, Heilan House Group Co., Ltd. (hereinafter referred to as " Heilan House "; 600398.SH) released its 2021 fiscal year financial report. Data shows that as of December 31, 2021, Heilan House's revenue in 2021 was 20.188 billion yuan, a year-on-year increase of 12.41%; it achieved a net profit of 2.491 billion yuan, a year-on-year increase of 39.60%.
It is worth noting that the gross profit margin level of Heilan House's main brand has reached a new high since its listing. The main reason is that high value-added and high-quality products are gradually increasing in volume, and the company's product upgrade results have been realized.
's series of excellent financial data show the steady development trend and strong development potential of leading enterprises.
's single-quarter performance has returned to the same period in 2019, and the main brand has recovered strongly.
Throughout 2021, the company's sales revenue has gradually recovered in each quarter. Since the second quarter, the revenue has slightly exceeded the same period in 2019. Online growth has been beautiful and the proportion has increased. , the offline store structure is optimized, and the overall channel layout is more balanced and healthy.
company has focused on launching high value-added products such as Aurora down jackets this year, and the sales of winter clothing have added fuel to the strong recovery throughout the year.
Huajin Securities analyst Wang Feng said that on the brand side, Heilan House has completed the strategic layout of "multi-brand, full category, groupization", but the main brand is still the main source of revenue of Heilan House.
Based on the existing cost-effectiveness advantage, offline channels are still the main source of revenue for Heilan House. The main brands had a net increase of 241 stores throughout the year, concentrated in shopping malls. In the early stage, the company relied on the franchise model of agency sales (quasi-direct operation) to achieve rapid store expansion. In recent years, the growth in the number of stores has slowed down, and the revenue expansion was mainly driven by the improvement of store efficiency. In this regard, the company will continue to optimize and upgrade its channel structure and continue to increase the proportion of stores in shopping malls. In the next three years, we will set a goal of entering 500 shopping malls to attract more high-quality traffic. In addition, in order to enhance the image of brand stores, shopping malls will focus on directly operated stores and increase the proportion of directly operated stores. In the future, it is expected to maintain steady growth through channel scale expansion.
are advancing hand in hand, and sub-brand incubation is becoming increasingly mature and is about to increase in volume.
Since the epidemic, Heilan House has actively promoted a series of reform measures, actively invested in incubating new brands, promoted group strategic transformation, and achieved a multi-brand and full-category layout in the apparel field.
Guosen Securities analyst Ding Shijie said that Heilan Home takes the main brand as the core, and sub-brands have become important growth drivers: The company’s main brand Heilan Home is the leading brand in the domestic men’s clothing mass market, known as “men’s wardrobe” reputation, at the same time, the company also owns brands such as customized professional wear Sancano (2021 revenue of 2.26 billion yuan), home attire Heilan Select, workplace women's wear OVV, new urban trend Black Whale, children's clothing for boys and girls, among which boys and girls The development momentum is rapid, with sales of 2.042 billion yuan this year.
In the long term, the company will use its platform role to promote informatization and multi-category layout, continue to optimize channel structure, and improve supply chain efficiency, which will create strong competition barriers for the company's multi-brand development.
According to the company's outlook at the beginning of the year, after the new brand is gradually incubated and matured, it is expected to reach a total sales volume of 10 billion in 3-5 years, becoming an important growth driver for the company. For online channels, we plan to achieve the goal of 10 billion in turnover (online revenue in 2020 is 2.05 billion yuan).
Getting younger and younger, breaking the circle of brand rejuvenation and reshaping
Through the development of diversified markets, Heilan House takes the main brand as the foundation, continuously expands the product matrix, and extends the brand positioning to "wardrobe for the whole family", age The range is also constantly expanding, vowing to firmly imprint "youthfulness" on the brand image.
Jay Chou , as a new spokesperson, set off a wave of nostalgia for those born in the 80s and 90s. In October 2021, Hai Lan House officially announced Xu Weizhou , Huang Minghao , Wei Zheming three post-90s and 95 generations. Later male celebrities serve as brand ambassadors or spokespersons.
If Jay Chou is targeting the post-80s and post-90s market, then for Generation Z, which has become the main consumer, while not giving up on the post-80s and post-90s market, Heilan House is also eager to pass on the younger generation Spokesperson to target consumers in the Z era. In addition to putting great effort into the selection of spokespersons,
also strives to cater to the preferences of young people in its live broadcast rooms and short video content. The clothing styles displayed also generally cater to the aesthetics of young people, and there is no "uncle" color. Not only continues to cooperate with multiple IPs, but in the fourth quarter, it also took advantage of the aerospace event to launch the China Aerospace co-branded series of down jackets, live broadcast new product fashion shows, enhance brand influence and fashion sense, and gradually get rid of the inherent impression.
On the research and development side, Heilan House continues to increase its research and development efforts, launching many high-tech, multi-functional high-quality products and high-quality fabrics and accessories to meet the needs of consumers in multiple scenarios, change the criticism of "light research and development" in men's clothing, and expand brand influence and product market share.
According to the analysis by Zheshang Securities analyst Ma Li, with the continuous upgrading of the company's main brand, continuous improvement of operating conditions, and healthy growth of new brands, Heilan House's performance release has both certainty and growth.
takes technology as the foundation, marketing as the channel, and diversified brands as the layout. With a three-pronged approach, Heilan House is breaking through its own boundaries and constantly shaping new growth curves. From the core upgrade of "men's wardrobe" to "national brand", the steady development of Heilan House's performance in 2021 may be just a small step towards its long-term goal. We look forward to national brands writing more growth stories.
