Bosideng reported a 21 percent increase in annual profit to 2.06 yuan renminbi (€294.7m) for the 12 months ended March 31 as total revenues grew by 20 percent to 16.2 billion RMB (€2.32b). Annual operating profit inched 1.5 percent higher to 2.57 billion RMB as gross margin came in at 60.0 percent versus 58.6 percent in the prior year.
The company’s down apparel segment increased its annual profit by 10.2 percent in local currency to the equivalent of €336.1 million. Annual down apparel revenues rose 18 percent to 13.25 billion RMB (€1.9b). During the year, Bosideng focused on expanding distribution beyond Beijing and Shanghai to 13 additional first-tier and new first-tier cities in China. Citing the global market research institution Ipsos, the company said its down apparel brand had become the preferred label of more than 71 percent of Chinese consumers.
In late 2021, Bosideng and Bogner of Germany signed a joint venture agreement to sell winter sports apparel.
Bosideng was founded in 1976 and has focused on R&D, design and the production of down apparel for over 45 years.
