Following the "three stores all off casual wear brand FUN780 million selling" news, the company has received numerous phone inquiries, including interest from large brand dealers who want to build their own brands, as well as manufacturers with over 10 years of OEM experience. Among these potential FUN-branded partners, one common sentiment is: "FUN's brand value still exists; the key is how to restructure and repackage it."
Coincidentally, the Bossini brand, which once led fashion trends a decade ago, may also be undergoing a transformation. Recently, Business Lion, an investment firm, reportedly expressed interest in acquiring shares held by Bossini’s largest shareholder, Luo Jia-Sheng. However, no formal agreement has been signed yet. Currently, Luo holds 68.58% of the company. If the deal goes through, Bossini will welcome a new owner after more than 20 years of operation.
Founded by Luo Dingbang, the founder of Hong Kong Roche Knitwear, Bossini entered the mainland market in the early 90s. Its first store opened in Guangzhou and created a big buzz. From 1996 to 2002, it expanded rapidly across major cities like Beijing, Shanghai, Shenzhen, and Wuhan, establishing a strong presence. However, due to rapid expansion and fierce competition, Bossini suffered losses in the mainland in 2006. In 2007, it launched a brand revitalization plan, closing some underperforming stores.
As of the end of last year, Bossini had 42 stores in Hong Kong and 316 franchised outlets in the mainland. According to its semi-annual results for the year ended December 2008, the company saw a 27% increase in profit to HK$51.51 million, driven by cost control and tax reductions. Revenue rose slightly by 2.3% to HK$1.185 billion. However, its mainland operations, which accounted for nearly 20% of revenue, still posted a loss of HK$7.76 million.
Now, many leisure brands are going through transformation, including equity transfers, trademark sales, store closures, and strategic upgrades. Faced with the influx of international brands and the rise of domestic labels, FUN, Bossini, Giordano, Baleno — once popular names in China's casual wear market — are now dealing with the pain of transformation. As one media comment put it, “Did you not hear the applause from those casual shops? Yes, everything has changed.â€
International fast-fashion brands have flooded the Chinese market, dominating in style, pricing, and distribution. The old casual brands are gradually fading away. Take Metersbonwe as an example: in 2005, all its subsidiaries lost a total of RMB 40.4392 million. In 2006, only two subsidiaries were profitable, while the rest lost another RMB 40.5154 million. Last August, Metersbonwe successfully listed and raised funds, and at the start of this year, it recruited 5,000 people, aiming for aggressive expansion. It also invested heavily in the high-end brand ME & CITY, signaling a shift toward premium positioning.
Similarly, in 2007, Bossini began closing stores under its younger brand Sparkle, reallocating resources to focus on BOSSINI and its higher-end line, BOSSINI TYLE. During that time, it closed 115 Sparkle stores and added 14 BOSSINI TYLE locations. Whether it's investing hundreds of millions in brand revamping or launching grand store expansion plans, the casual wear market is heating up quickly, with competition intensifying every day.
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