Jiangnan Cloth Garments Announces Special Return Policy For Spring 2020: The Return Rate Is Adjusted To 100%

On February 7, in a letter to the group's dealer partners, Jiangnan Buyi said that, in view of the current epidemic situation, for new products in the spring of 2020, Jiangnan Buyi would The return rate of spring 2020 products of CROQUIS, less, jnby JNBY and POMME DE TERRE brands will be adjusted to 100% ("special return policy for spring 2020"), and dealers of all parties will be required to return all products of some styles in advance.

This operation shows the transfer of Jiangnan cloth clothing to distribution partners; Moreover, it also reflects the fierce competition in the current brand market from the side. According to relevant insiders, "the development of domestic brands basically depends on channels, transferring the pressure to investors. But now investors can choose a wide range of options to join, and some brands can talk about 100% in order to accelerate channel expansion, such as Kabin. If it is a new brand or a small brand, it is not only 100%, but also free props and subsidies for decoration."

Choosing a small amount of spring style for recycling can be said to spend relatively low costs and give greater confidence to distribution partners. It is a good deal for its later opening and operation.

On the other hand, Jiangnan Buyi's move can also be an important means of maintaining VIP resources. First, it prevented dealers from selling at low prices due to the epidemic and reduced the brand premium; Second, it can give back goods to VIP at a relatively low price, which will be an increase in VIP value-added services.

After all, fans' contribution is still an important part of Jiangnan cloth clothing revenue. It can be seen from the annual report of Jiangnan Buyi in fiscal year 2019 that the retail sales contributed by its members accounted for about 70% of the total retail sales, which was 2.4 billion yuan. During the period, Jiangnan Buyi had about 3.6 million members (de duplication), an increase of 100000 over the same period last year. Among them, the number of WeChat accounts (de duplication) exceeded 31000, up 47.62% year on year.

Jiangnan Clothes also disclosed in the financial report that in the future, it will further improve its design innovation and R&D capabilities, optimize the designer brand portfolio, constantly cultivate new Jiangnan Clothes fans, adhere to the fan economy as the core, encourage operational innovation, and continuously create and provide value-added service scenes and touch point construction for fans to improve the fan experience.