361 Degrees Posts 17 Percent Revenues Growth In 2022

Hong Kong-based 361 Degrees Worldwide, Ltd. reported earnings grew 24.2 {a0ae49ae04129c4068d784f4a35ae39a7b56de88307d03cceed9a41caec42547} in the calendar year ended December 31 as product sales expanded 17.3 per cent.

Revenue increased to approximately RMB6,960.8 million from RMB5,933.5 million a year in the past. The income of the Group’s two main products, footwear and attire, grew by 12.7 p.c to RMB2,853.6 million and 14. per cent to RMB2,447.5 million and accounted for 41. percent and 35.2 percent of the Group’s total income, respectively. In addition, the profits from 361° Youngsters increased by 30.3 p.c YoY to RMB1,442.2 million, accounting for 20.7 percent of the Group’s complete earnings.

Through the calendar year beneath evaluate, thanks to the advancement of product or service high quality, an helpful campaign of e-commerce products and solutions and optimization of operational efficiency, the earnings from the sales of website-exclusive goods from e-commerce organization increased by 37.3 p.c YoY to RMB1,685.4 million, accounting for 24.2 {a0ae49ae04129c4068d784f4a35ae39a7b56de88307d03cceed9a41caec42547} of the Group’s total profits

For the duration of the calendar year less than overview, the gross earnings was RMB2,820.6 million (2021: RMB2,472.4 million), representing a YoY raise of 14.1 p.c. Gross margin preserved stable at 40.5 p.c. Because of to the effective cost manage, the profit attributable to equity shareholders elevated by 24.2 {a0ae49ae04129c4068d784f4a35ae39a7b56de88307d03cceed9a41caec42547} to RMB747.1 million (2021: RMB601.7 million), equivalent to earnings for each share of RMB36.1 cents.

Operational highlights

• Deepened the manufacturer positioning of “professional, youthful and internationalized.”  Carried out a twin-travel operating strategy of “professional sports + sports activities fashion” and focused on methods to enrich model competitiveness
• The selection of POS of 361° main brand name and 361° Little ones in mainland China improved by 210 percent and 392 p.c, respectively, when compared to 2021. The retailer measurements improved, and the share contribution of the most recent graphic shops, stores in 1st- and second-tier towns, and section suppliers continued to be additional optimized. Retail gross sales continued to obtain large functionality, with enhanced management through a wise-retail program
• Spokesperson Spencer Dinwiddie introduced the freshly-released flagship basketball sneakers Massive3 3. and exceptional signature basketball footwear DVD1 to international awareness in 2022
• Even further diversified manufacturer methods matrix by signing Gao Qunxiang and Ren Qing as 361° skateboarding ambassadors, signing Paraboy as 361° e-athletics ambassador, signed Gong Li, the Karate Earth Winner, as the spokesperson for 361° Women’s Sports Fashion, and introduced the S-SKN 1. sequence of women’s coaching solutions
• Personal-brand name gatherings, such as “3#Track” and “Light Up,” were organized nationwide, empowering core products groups these types of as operating and basketball, forming an special sports ecosystem integrating on the web and offline channels, and maximizing the affect of the 361° manufacturer
• Collaborated with IPs, which include 3-Human body Difficulty, Kakao Buddies, Lay’s, Sanxingdui, Pepsi, and SpongeBob SquarePants to launch co-branded merchandise, integrating trend trends these types of as “China-Chic”, “science fiction” and “meta-universe,” and getting visibility in the industry
• Launched the second development curve of 361° Little ones, positioning the brand name as “Youth Sporting activities Qualified,” and aligned with the brand name statement “Chasing Your Love!” to greatly enhance expert features, overall health technologies and the most current trend developments. The Group expanded its first young children and adolescents sporting activities marketplace with a differentiated approach
• Improved the performance of e-commerce operations, and deepened cooperation with e-commerce platforms such as Tmall, JD, and Vipshop, also collaborated with global brand ambassador GONG Jun to establish the exceptional “Track” series and start artistic marketing and efficiently introduced NFT electronic selection to up grade electronic marketing and advertising and promotion results in many dimensions
• Drove solution breakthroughs by scientific study and innovation, highlighting the brand’s specialist rewards. The progress of working shoes and basketball sneakers little by little direct to matrixes, with functioning footwear winning awards subsequently, helping runners accomplish new individual ideal documents. The product also aided spokesperson LI Zicheng split the Chinese half marathon record that experienced been sealed for 13 a long time and
• Supported the Asian Online games for 4 consecutive periods, announced a new brand name slogan of “One Diploma Outside of Chinese Passion” for the Asian Games and was awarded the “Outstanding Contribution Award of the Asian Games” by the Olympic Council of Asia.

Outlook
Seeking in advance, Ding Wuhao, govt director and CEO of 361° Team, said: “This year marks the 20th anniversary of the establishment of 361°. About the previous two a long time, we have been forging forward with dedication and really hard function. We begun as a modest maker of athletics footwear and slowly grew into a detailed sporting products team, turning out to be a stated company with remarkable industrial and social value. Hunting forward, the sporting activities market will turn out to be an crucial motor of nationwide economic progress, with vibrant progress prospective customers. 361° will keep on to concentrate on this upward path by firmly adhering to the brand positioning of “professional, youthful, and internationalized.

“We will carry on to produce in the Chinese sports activities apparel market by introducing goods and products and services that express the brand spirit of “One Degree Beyond” to people, actively encourage product or service scientific investigate and innovation, deepen brand benefit, and lay a stable foundation for prolonged-expression excellent improvement, creating sustainable growth price for shareholders, personnel, and society.”

Regarding the Hangzhou Asian Game titles held this year, Wuhao ongoing, “The 19th Hangzhou Asian Video games 2022 will engage in a critical function in quickly raising 361°’s influence in the domestic and global marketplaces. 361° has sponsored the Asian Online games for 4 consecutive periods and this time we have proposed a new brand slogan for the Asian Game titles, “One Degree Beyond Chinese Enthusiasm. This entirely demonstrates our strategic dedication and firm dedication to supporting sporting activities. We imagine that on the phase of the Asian Game titles, 361° will make just about every work to assist the Asian Online games to be efficiently held.”