Multi-brand strategy changes to allow garment companies to go further

At the 19th Beijing Service Expo held at the end of March, Youngor unveiled six major brands including MAYOR, YOUNGOR, GY, Hart Schaffner Marx, CEO, and Hanp. They are for executives, white-collar workers, business people, and young fashion people. .

Since Ningbo Jinmao Import & Export Co., Ltd. established its own brand in October 2004, it has registered three brands of “NOIHSAF” (Northern Brahmas), “DOTHIGH” (Same Height) and “CLUELESS” (Lai Les). Last year, the export volume of these three independent brands reached 2.6 million U.S. dollars, mainly exported to Europe, Australia and Russia.

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In the process of entering the international market, many clothing companies have shifted from the original single brand to multi-brand strategies. "Europe and America's well-known brands generally have a history of more than 100 years and are highly recognized by consumers. While the Chinese brand has only a few years to more than ten years of brand creation, it is still in its infancy. Promotion of independent brands can only be gradual and gradual." Li Rucheng, chairman of Youngor Group, said.

Prior to 2008, Youngor Group’s flagship brand was “YOUNGOR”, which means that it was a single brand strategy in the past. "Our single product 'YOUNGOR' has the highest market share of 13%, but the balance of a brand's population is always limited and it is urgent to require brand refinement and extension." Li Rucheng believes that the major brands and second-tier brands have now become The new growth point also brings new opportunities for the main brand. To this end, he appealed to his management team. “Younger needs the courage to rebrand, and it needs to accelerate the implementation of a multi-brand strategy.”

"After acquiring overseas companies, we have a perfect overseas marketing channel and strong design capabilities, which lays a solid foundation for the internationalization of the brand." Li Rucheng said that this is a solid backing for Younger from a single brand to a multi-brand strategy. And formed a stable brand square. "At the same time, we will learn the management experience by acting as an agent for international brands and accumulating experience in creating world brands."

Li Rucheng believes that at present, China's garment industry has already gone through the stage of industrialization, and from the era of quality to the brand era, Youngor will further enhance and expand its brand through “three accelerations”. First of all, accelerate the transformation of marketing methods, from the production-oriented enterprises to the transformation of trade-based and brand-name enterprises. Second, speed up the development of international and professional talents, including brand management, brand positioning and other professionals. Third, speed up the construction of a timely and efficient supply chain.

“Youngor is making a leap forward from a Chinese brand to an international brand. Our goal is to transform from a production-oriented enterprise to a trade-based and brand-name enterprise, and to enter the Youngor brand into the US market, to truly realize 'create an international brand and build a century-long enterprise'. It is my dream and also the dream of the Chinese. Youngor is confident to realize this dream.” Li Rucheng is full of confidence.