It can be said to be a very difficult year in 2022. The major sports brands have released their first quarter financial reports. The performance of overseas brands and domestic brands can be said to be two days of ice and fire. It is affected by multiple factors such as the international situation and domestic competition. The operating profit of foreign leadership sports brands has dropped by nearly 40 %, and China's market revenue has plummeted by nearly 40 %. Although some international brands have maintained their growth, they also barely have a single digit, showing a significant attitude, which has a very direct relationship with the weakness of the Chinese market.
In contrast, the performance of Chinese domestic sports brands in the beginning of the year wants to be outstanding. Taking Tubu International as an example, in the first quarter of 2022, the business operations of Mainland China, the retail sales of the Special Top Scenic Brand (including online and offline channels) during the period increased by 30%-35%year-on-year. It can be seen that international and domestic brands It shows the development trend of this disappearance. It can be said that consumer consumer psychology and consumption habits are undergoing tremendous changes, and the offensive and defensives of both parties have begun to be easy. The entire sports goods industry has entered a new stage of development.
The revenue in 2021 exceeds 10 billion
Why take specialties as an example? According to the financial report of 2021, the Tuber Group's fiscal year in 2021 reached RMB 10.013 billion, an increase of 22.5%year -on -year. This is the first annual income of Tubu exceeding the 10 billion mark. Due to the outstanding performance of the Step's new products, Tub ’s growth in operating profits is particularly eye -catching. In 2021, the operating profit of the annual operating profit was 1.396 billion yuan, an increase of 52.1%year -on -year, and the gross profit margin increased to 41.7%. It shows that Tibu Group has maintained a substantial increase in profits while increasing income, which fully proves that the quality of growth is still quite solid, or this high -speed growth is not a short -term growth brought by low -cost promotions. It is the comprehensive growth brought by the continuous improvement of products and brand power. From the perspective of product types, the revenue generated by Tabf shoes accounted for 59%, and clothing and accessories accounted for 39%and 2%. The overall product structure was becoming more and more balanced, and the comprehensive product was stronger and stronger.
Channel innovation and expansion are also an important support for Tiping to obtain high -speed development. For example, aspects of offline entities, Tuber's stores have been upgraded to the ninth generation. Not only are the average total construction area larger, it can provide more comprehensive product types, and at the same time A lot of smart retail design and avant -garde fashion designs have been added, so that customers' consumption experience has been greatly upgraded. This is a very prominent highlight in the same type of sporting goods companies. As of December 31, 2021, Tuber Group has a total of 6,151 special shops operated by the group's authorized dealers in mainland China and overseas. It is also among the forefront of the industry in the number of stores.
The operation and expansion of social media platforms is another secret that Tub can still maintain rapid growth in special periods. Tubu keenly discovered the transformation of consumers' consumption habits during the epidemic, and quickly transferred market promotion and sales resources to social media platforms, such as Douyin and Xiaohongshu. In the year, Tibu's e -commerce business accounted for more than 30%of the revenue of the specialty brand, which fully grasped the air outlet of the times and found the industry's increase in the industry.
"Five -Year Plan" sail sailing
Last year, Tuba launched the fifth five -year plan at the investor conference. The five -year planning pointed out that the special brand brand will still be the largest growth momentum of the Group in the next few years. By 2025, the Special Toru brand plans to achieve the goal of 20 billion yuan in operating income, that is, the annual compound growth rate will reach 23%. Tub's new brand has achieved a total of 4 billion yuan, with a compound growth rate of 30%. In order to achieve this goal, Tuba has strengthened its efforts in brand operations and has also taken greater steps.
Since 2019, Tubo has acquired brands such as Mai Le, Sonny, Ge Shiwei, and Paladin, and formed a multi -brand matrix of "Volkswagen+Fashion+Professional" with the specialty brand. From the perspective of income performance, 88%of the mass movements represented by Tubte, the proportion of fashion movements represented by Gai Shiwei and Paladin, the other 2%of the majors represented by Mai Le and Sonny, Sonny, Contribution. The development space and potential of the latter two are still relatively large, and it is also the key to the final achievement of long -term sustainable development.
From the actual data, the Five Five Five Planning of Tub is still very successful, especially in the second half of 2021, the growth of the main brand increased by more than 34%, which greatly surpassed the target's 23%growth rate. And under such a difficult start in 2022, it still maintained a high-speed growth of 300%-35%. From this perspective, Xtep is likely to complete its own five or five plans in advance, and achieve a faster revenue of more than 20 billion. set objectives. Affected by this, Tobe's stock price has also achieved a significant increase. From the stock price of individual digits to double digits, this is a rare highlight among Hong Kong stocks that have been sluggish.
Fighting a new decade
Why did Tuba achieve such a high -speed growth? The reason, in general, it still looks like Tubu's 20 -year deep cultivation, which ushered in the harvest season. On the one hand, the rise of the national tide. For various reasons for economic and politics, international sports brands have been resisted and abandoned by Chinese consumers, which has made a large market share. On the other hand, the mass foundation of sports is getting deeper and deeper, especially the hosting of the Beijing Winter Olympics and the various restrictions of the epidemic, which has enhanced the awareness of people's healthy sports. Of course, the more important thing is that Tubou's strategy is proper. It has maintained a high level in brand operation and product development, forming long -term reputation and attracting more consumers. Under the resonance of this multiple reasons, the sudden speed -up of Tubu's sudden acceleration in the second half of 2021 became logical. Mr. Ding Shuibo, chairman and chief executive officer of Tubu International Holdings Co., Ltd. said: "Benefiting from the success of the" Four Five -Five "planning from 2016 to 2020, the group transformed from domestic companies to mature global companies. In 2021, we released it. The new 'Five Five -Five "plan has opened another milestone for our business. With the improvement of health awareness in Mainland China, driving the sports boom, coupled with the support of the country's sports industry, the sports goods industry in Mainland China will inevitably look forward to beauty. Long -term development prospects. We are optimistic about the business development of the group in 2022 and later. "
It is worth mentioning that children's clothing is also an important driving force for the future development of Tubu. Tuba believes that the growth potential of the children's clothing market in the next few years is huge, and it is committed to upgrading through brand and product upgrade and channel upgrade. Yuan, the annual compound growth rate exceeds 37%.
In addition to its outstanding performance in operation and brand, the 2021 ESG report that Tobe's upcoming 2021 will also reflect the thinking and responsibility of the entire company's social responsibility and corporate governance. Growth provides more imagination.
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