EEKA Fashion Announces 2021 Annual Results, Double-digit Revenue and Profit Growth Driven by Multi-Brand Strategy, Business News

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HONG KONG, Mar 28, 2022 – (ACN Newswire) – EEKA Fashion Holdings Restricted (Ticker: 3709.HK, “EEKA” or “the Group”) announced unaudited consolidated once-a-year final results for the yr finished 31 December 2021 (“the period of time”). In 2021, the Group’s income greater 19.3% year-on-calendar year to RMB6.4 billion. Gross profit was RMB4.8 billion, representing an maximize of 21.2% year-on-yr. The gross earnings price was 74.6%. Net gain amplified by 28% to RMB562 million.

Mr. Jin Ming, Founder and CEO of EEKA Fashion, said “Centered on EEKA’s multi-model method, we are committed to delivering significant-good quality solutions to meet up with our customer’s requires, to even further empower the mental, exquisite, and modern day types for gals. EEKA focuses on maximizing our main operational abilities as a result of ground breaking analysis and design and style, source chain digitalization, and membership management. With our system-primarily based multi-brand method, we will keep on to increase our small business amid positive market outlooks, and to gas the innovations within the business with our primary posture. With that, we are self-assured in achieving the objective of exceeding 10 billion retail profits by 2023.”

Throughout the interval, the Group recorded sturdy double-digit earnings progress for the eighth consecutive calendar year based mostly on the achievement of multi-manufacturer tactic with its mid- to substantial-end womenswear brand name matrix. The Group is the initial in the current market to build 3 RMB1 billion retail profits manufacturers. Two substantial-conclude makes Koradior and NAERSI obtained a combined revenue of around RMB3.7 billion, preserving as the Group’s best revenue contributors. NEXY.CO hit RMB1 billion in retail sales for the to start with time, and profits recorded at RMB872 million. The youngest model FUUNNY FEELIN concentrating on mid-stop industry also realized income of above RMB100 million, with an impressing progress charge of around 100%.

The Team sustained its expansion momentum by constant functions advancement of its offline retail channels and online e-commerce platforms. EEKA leveraged its competitive rewards in the retail shops, attaining product sales close to RMB5 billion, accounting for all-around 80% of the Group’s complete revenue. As of 2021, EEKA operated in excess of 1,500 retail merchants, with a membership foundation about 3.6 million, which will assist to improve the Group’s profits expansion in very long-phrase. All through the period, earnings of e-commerce platforms greater by 23.6% to RMB757 million. Even though product sales from Tmall and VIP.com continued to expand, EEKA Fashion Shopping mall and Douyin channels also became key profits motorists for the Team, every single recording a expansion level at above 200% and 1,400%.

Based on solid brand name running capabilities accumulated for around 20 a long time, EEKA will carry on to solidify its edge from platform-primarily based technique by means of digitalization across structure, output, marketing and gross sales. The Group is focused to solution improvements to offer you high-conclude fashion for clients. Meanwhile, the Group released electronic tasks encompassing supply chain optimization and centralized management of membership and product information to further greatly enhance over-all efficiency. In 2021, EEKA actively promoted sustainable growth, signing up for “The Good Coalition for Sustainability” with its 8 womenswear brand names. The Team also introduced “EEKA Prize” to acquire young abilities in China and market modern style for sustainability.

In the future, the Group will go on to improve its main placement in China’s fashion market, with a crystal clear target of exceeding 10 billion retail profits by 2023 and 15 billion retail sales by 2025. EEKA will further improve the brand’s current market influence, digitalization and innovation capabilities primarily based on the strategic emphasis of “multi-brand and multi-channel”. With the eyesight of “Just for her special glamour”, the Group is committed to generating price for consumers in pursuit of a greater lifetime, consolidating its major posture of middle and large-end women’s apparel sector in China.

Take note 1: The Team acquired 65% and 35% of the equity fascination of Mondial on 13 July 2016 and 10 November 2021 respectively which has self owned manufacturer “CADIDL”. Mondial is an insignificant subsidiary of the Enterprise inside of the that means of the Listing Regulations.
Note 2: The Group acquired the property of SK Networks (China) Fashion Co. Ltd. (which includes fashion products and solutions less than the brand name names “Obzee” and “O’2nd”) on 9 March 2017 and terminated an unique distribution settlement in April 2020.
Take note 3: The Group acquired 100% of the equity desire of Keen Achieve which has self-owned model
“NAERSI”, “NEXY.CO” and “NAERSILING” on 3 July 2019.

About EEKA Fashion
EEKA Fashion Holding Restricted (Inventory Code: 3709.HK) is a properly-acknowledged fashion attire team with a one of a kind brand lifestyle concept, superior study and progress layout center, audio advertising and marketing support method, successful logistics distribution and network management process. The Enterprise has been deeply associated in China’s higher-close women’s attire market considering the fact that its establishment and was stated on the Hong Kong Most important Board in 2014. The Team now has eight self-owned brand names: Koradior, La Koradior, Koradior somewhere else, NAERSI, NAERSILING, NEXY.CO, CADIDL and FUUNNY FEELLN. Over the a long time, EEKA Fashion Group has been strongly dedicated on manufacturer internationalization. Because 2015 onwards, several of its models have been invited to Milan Fashion 7 days and New York Fashion 7 days to clearly show the appeal of Chinese brand names. The Group has usually insisted that brand is the root and creativeness is the soul, dependent on shopper way of living investigate and brand name tradition shaping, in watch of purchaser requirements and the mission of “Just for her special glamour”, concentrating on item innovation and brand name interaction, and continuing to guide customers’ costume and lifetime culture.

This press launch is issued by ICA Investor Relations (Asia) Constrained on behalf of EEKA Fashion Holdings Confined. For any enquiries, please contact:

ICA Trader Relations (Asia) Limited
Tel: +86 (21) 8028-6033
E-mail: eeka@icaasia.com

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.com

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