After the closing on August 14th, Beijing Sanfo Outdoor Products Co., Ltd. (SZ:002780) released its 2023 interim report. During the reporting period, the company achieved operating revenue of 360 million yuan, a year-on-year increase of 51.87%, and a net profit attributable to the parent company of 11.34 million yuan, soaring by 172% year-on-year.
Sanfu Outdoors focuses on the operation of its “self-owned + exclusive agency” brand business. Currently, it operates the high-tech luxury sports brand X-BIONIC, and acts as an agent for the Swedish mountain series classic brand Klättermusen, the Italian handmade craftsmanship shoe brand CRISPI, the classic workwear shoe and boot brand DANNER, the tactical backpack brand Mystery Ranch, and the professional outdoor shoe brand LA SPORTIVA.
In July of this year, Sanfo Outdoor’s wholly-owned subsidiary, Shanghai Feiwa Trading Co., Ltd., signed an “Exclusive Agency Agreement” with another Swedish outdoor brand, Houdini Sportswear AB, becoming the exclusive general agent for Houdini in China.
The financial report also disclosed the latest operational status of these brands:
X-BIONIC
In the first half of 2023, two X-BIONIC brand stores were opened in Beijing DT51 and Shenzhen MixC World after. In July, the first X-BIONIC flagship store in the East China region was opened in Hangzhou Ping An Financial Center Yuefang, and the first X-BIONIC brand store in the Northeast China region was opened in Changchun MixC. During the reporting period, the X-BIONIC brand store attracted over ten thousand new members.
In 2023, X-BIONIC will continue to open brand stores in Beijing SKP, Shenyang MixC World, Beijing Badaling Outlets, and major ski resorts, continuously expanding the sales channels for X-BIONIC brand.
At the same time, the X-BIONIC research and development team is deeply developing the 2023 autumn and winter products, focusing on improving product categories, increasing outdoor and daily functionality of products, and moderately expanding skiing product categories. Currently, most products have been developed and are in production, with continuous updates.
Klättermusen
In January 2023, Klättermusen’s first flagship retail store in Shanghai settled in Pudong Kerry Centre, achieving profitability in the second month after opening. In June 2023, Klättermusen opened its first pop up store in Shenzhen Nanshan MixC, achieving profitability in the same month. In the first half of 2023, Klättermusen achieved sales of over 40 million yuan, a year-on-year growth of 300%.
In August of this year, Sanfu Outdoor’s wholly-owned subsidiary, Beijing Traveling Mouse, plans to introduce Klättermusen brand Swedish company Klättermusen AB through capital increase and establish a joint venture company, deepening the cooperation and jointly operating the Chinese market.
CRISPI
In April 2023, CRISPI brand’s image flagship store settled in Shanghai Sanfo Wante Flagship Store, with a single-store turnover exceeding 200,000 yuan for three consecutive months. In the first half of 2023, CRISPI achieved wholesale sales of over 28 million yuan, a year-on-year increase of over 50%.
As of the closing on August 15th, Sanfu Outdoor’s stock price rose by 0.76% to 13.19 yuan per share, with a current market value of about 2.1 billion yuan.
*Note: At time of writing, 1 CNY = 0.14 USD
| Source: Official Announcement
| Image Credit: Brand Official Website
| Editor: LeZhi
