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Public company info - EEKA Fashion Holdings Limited , 03709.HK
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EEKA Fashion Holdings Limited, 03709.HK - Company Profile
Chairman JIN Ming
Share Issued (share) 685,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Apparel
Corporate Profile Business Summary:The Group is principally engaged in the design, promotion, marketing and sale of the self-owned branded ladies-wear in the People’s Republic of China (the “PRC”). Performance for the year: Total revenue increased from RMB2,520.91 million for the year ended 31 December 2018 to RMB4,148.42 million for the year ended 31 December 2019, representing an increase of 64.56% or RMB1,627.51 million. the net profit of the Company attributable to shareholders was RMB405.61 million for the year ended 31 December 2019 as compared to RMB272.76 million for the year ended 31 December 2018, representing an increase of 48.71% or RMB132.85 million. Business Review Following the acquisition of Keen Reach in July 2019, the Group now operates ten brands to meet various dressing needs of The Group’s customers including: The Group’s own high-end brands (i) Koradior (ii) La Koradior (iii) Koradior elsewhere, (iv) cost effective brand – FUUNNY FEELLN, acquired brands – (i) CADIDL (ii) NAERSI (iii) NAERSILING (iv) NEXY.CO, international agent brands – Obzee and O’2nd. The Group is the only fashion group in the middle and high-end womensThe Groupar industry with dual-brand sales revenue of more than RMB1,000 million. Its dual main brands Koradior and NAERSI are among the top 10 industry. Sales revenue from Koradior elsewhere, La Koradior, NAERSILING, NEXY. CO, CADIDL sales are generally betThe Groupen RMB300-600 million, and the Company has the ability to create “super quality” and “multi-product”. During the reporting period, in order to enrich the product level of the Company’s mid-end line, the Company launched a cost-effective brand FUUNNY FEELLN, which is aimed at a wider population and meets more diverse needs. As brands cluster enterprise, the Company’s group operation is outstanding and it has built an endogenous and diversified middle to high end brand matrix. The Group achieved favorable results once more by putting a strong focus on multi-brand strategy, with quality and scale of mergers and acquisitions, expanding its operation on e-commerce platforms and promoting omni-channel construction by using online e-commerce resThe Group’sces. Prospects: The outbreak of “COVID-19” pneumonia in early 2020 had a significant impact on the economy in the first quarter, but the impact of the outbreak on the economy and retail industry is temporary and transient. In February, about 20% of stores The Groupre temporarily closed and the remaining 80% of stores have reduced operating hThe Group’ss. In early March, except for around 30 stores in Hubei, the rest of the stores basically resumed business, though most of the stores are still shortening business hThe Group’ss. In order to increase sales, sales staff will also use mix and match sharing, limited time spike and other The GroupChat marketing methods. Although February-March sales have been affected, but through The GroupChat, e-commerce and franchise sales, cash receipts are good and the Group has sufficient cash balance. In the medium to long term, China’s economy will maintain a steady upward momentum, and the consumer demand for beauty also will not change. Therefore, it will only have a short-term impact, and will not affect the continued upward trend in the medium and long term on the Group’s business, while the epidemic is conducive to accelerating structural differentiation and market clearing, so that the leading enterprises market share concentration. The Group will keep continuous attention on the change of situation and make timely response and adjustments in the future, assess and react actively to its impacts on the financial position and operating results of the Group. Up to the date of the report, the assessment is still in progress. Based on the statistics of sales so far and the expectation of stable economic growth in the medium to long term in China, it probably only have a short-term impact, and will not affect the continued upward trend in the medium and long term on the Group’s business. Looking forward to 2020, the Group remains committed to the underlying principle of making progress while keeping performance stable and enterprising in adversity. The Group will: (i) Continue to deepen the multi-brand matrix The Group continues to advance the multi-brand strategy. Through quality development, making breakthroughs in areas with different styles and different positioning. The Group maintains the robust growth of key brands Koradior and NAERSI, promotes the rapid growth of Koradior elsewhere, La Koradior, CADIDL, NAERSILING, NEXY.CO and other brands, and optimizes the agency business of the O’2nd and Obzee brands. The Group will vigorously promote the development of cost-effective FUUNNY FEELLN brand, enrich the company’s mid-line product level, continue to deepen the Group’s brand cluster and expand its customer base. (ii) Continue to consolidate the company’s inventory sharing and distribution system The Group advances the construction of the system and business’s middle platform, further clarifies the division of responsibilities betThe Groupen the middle platform and departments, and creates a “hard poThe Groupr” for membership operations. The Group enhances membership rights by member services cross-channel brand interoperability progressively, improves member database system, strengthens inventory sharing and distribution system through inventory monitoring, sharing, and distributing which effectively reduce the rate of store out-of-stock, and improve the success rate of customer purchase. (iii) Continue to deepen brand construction and product research and development The Group promotes brand building through more professional, systematic and differentiated means, and continues to enhance brand awareness and added value. In brand promotion, the Group strengthens the bold placement of new media and airport advertising, adheres to the star spokesperson strategy and will also promote the cooperation of the co-branded product. The brand image will be continuously updated, thereby further enhancing the brand influence to drive the optimization and upgrade of the company’s brand. In product research and development, the Group strengthens the construction and capacity of the research and development team, and increases the investment in innovation and the proportion of application. (iv) Optimize channel construction and increase new business channel layout The Group actively promotes with equal emphasis on quantity and quality, increases market expansion efforts and speed, and improves the pre-position of the market during the downturn. The Group continues to consolidate the direct sales-oriented sales system: steadily expanded stores of the direct sales channels, improved store efficiency, optimized business channel layout, multiple cooperation models to simultaneously expand distribution channels and actively develop distribution cooperate channels. To further consolidate the company’s brand competitive advantages in the middle and high-end department stores, the Group accelerates the layout of shopping malls, expands its presence in high-quality outlets, actively expands high-quality airport stores, and tries out new channel formats in an orderly manner. The Group continues to optimize the product launch policies of Tmall and Vip.com, including product categories, price range distribution, etc., and the quality, orders, volume, and prices of customers have steadily increased. (v) Strengthening supply chain collaboration In the procurement of upstream raw materials, the Group fully exerts to the cost-effective advantages of core suppliers in advantageous categories, selects and integrates materials from the sThe Group’sce of product development, and cooperates with core suppliers in-depth to improve product development efficiency and reduces the cost of product developments. In terms of production operation management, combined with the optimization of IT systems, explored the establishment of an intelligent allocation, replenishment, circulation mechanism and a rapid order turning decision mechanism to revitalize inventory liquidity and flow quality, driving the ratio of production to sales and increasing the sell-out rate. The Group continues to promote the construction of a supply chain management system for intensive procurement, rapid repeat order process, and efficient logistics and further improve supply chain management capabilities.

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