In the wake of the "three stores all off casual wear brand FUN780 million selling" incident, the company received numerous phone inquiries. Among the interested parties were large brand dealers looking to establish their own brands, as well as manufacturers with over 10 years of OEM experience. In these potential FUN-branded merchants, many acknowledged that "FUN's brand value still exists, but the key is how to restructure its packaging and marketing strategy."
Interestingly, a similar situation is unfolding with the Bossini brand, which once led consumer trends a decade ago. Recently, it was reported that an investor, Bussiness Lion, has shown interest in acquiring shares from Bossini’s largest shareholder, Luo Jia-Sheng. However, no formal agreement has been signed yet. Currently, Luo holds 68.58% of the shares in Bossini. If the acquisition goes through, the brand will welcome a new owner after more than 20 years of operation.
Founded by Luo Dingbang, Bossini first entered the mainland market in the early 90s, opening its first store in Guangzhou and creating a huge buzz. From 1996 to 2002, the brand expanded rapidly, setting up branches in major cities like Beijing, Shanghai, Shenzhen, Wuhan, Nanjing, Chongqing, and Tianjin. However, due to aggressive expansion and rising competition, Bossini suffered losses in the mainland in 2006. In 2007, the brand initiated a restructuring plan, closing some stores.
As of last year, Bossini had 42 outlets in Hong Kong and 316 franchise stores in the mainland. According to its semi-annual results for the year ended December 2008, the company saw a 27% increase in profits to $51.51 million, mainly due to cost control and tax reductions. Revenue rose slightly by 2.3% to 1.185 billion yuan during the period. However, its mainland operations, which accounted for nearly 20% of total revenue, still posted a loss of $7.76 million.
Today, many once-popular casual brands in China—such as FUN, Bossini, Giordano, and Baleno—are undergoing transformation. They are facing challenges such as equity transfers, trademark sales, store closures, and strategic upgrades. With the influx of international brands and the rise of domestic competitors, these brands must adapt or risk fading away.
As one media outlet commented, “Did you not hear the applause of those casual shops? Yes, everything has changed.†International fashion brands have flooded the affordable market, outpacing old casual brands in style, cost, and distribution. Take Metersbonwe as an example: in 2005, all of its subsidiaries collectively lost 40.4392 million yuan. In 2006, only two subsidiaries turned a profit, while others continued to lose money. Last August, Metersbonwe successfully listed on the stock exchange and raised capital. This year, it hired 5,000 employees and announced aggressive expansion plans, including a heavy investment in the high-end brand ME & CITY. It seems that shifting toward a premium brand strategy has become a common goal among casual wear brands.
In 2007, Bossini began to close stores under its younger brand, Sparkle, to focus more on its core brands, BOSSINI and BOSSINI TYLE. A total of 115 Sparkle stores were closed, and 14 BOSSINI TYLE stores were added. Whether it's investing hundreds of millions in brand revitalization or launching high-profile store expansion plans, the casual wear market is heating up, and competition is intensifying.
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