The Zhitong Finance App learned that CICC's latest research report indicates that Bosideng (03998) had a positive and healthy retail performance in 1HFY27: the main brand's terminal retail sales are expected to achieve double-digit year-on-year growth in April-August, showing strong operational resilience in a complex and changing consumer environment. CICC maintained Bosideng's “outperforming the industry” rating.
CICC anticipates a double-digit year-on-year increase in retail sales of Bosideng's main brand terminals in April-August. By channel, online growth is faster than offline, and direct sales are growing faster than distribution. The company continues to optimize the channel structure and store operation efficiency to further enhance its brand influence in the high-tier market and young consumer groups. Bosideng Group's 1HFY27 revenue is expected to be flat year on year. Under strict cost control, net profit increased slightly year on year, and overall performance is in line with CICC's expectations.
In the context of the industry entering structural adjustment and consumer demand becoming more rational, Bosideng 1HFY27's retail performance maintained double-digit high-quality growth, demonstrating the strategic strength of leading companies in the midst of cycle fluctuations — actively controlling the pace of delivery and building long-term competitiveness through product innovation and refined channel management.
On the channel side, Bosideng continues to promote the high-end channel layout. In July of this year, Bosideng's first VERTEX store in East China opened at Xingye Taikoo Hui in Shanghai, focusing on showcasing its high-end product line. The VERTEX store debuted in Vientiane City, Shenyang in November 2025, then expanded its high-end channel network in Changchun, Dalian, Xi'an, Shanghai, etc.
In terms of product layout, in 2026, Kim Jones once again teamed up with Bosideng to launch the Areal spring and summer series, combining design with functional attributes, further enriching the spring and summer product matrix and expanding consumer demand in multiple scenarios. Bosideng continues to improve the product layout around the “double focus” strategic direction of “focusing on the main channel for down jackets and the main track for fashion, technology, and functional apparel”.
In the medium to long term, brand upgrading, product innovation, and refined channel operation are still important grippers for Bosideng to enhance its competitiveness. With the continuous improvement of the brand matrix, promotion of global layout, and continuous investment in R&D and innovation, Bosideng's long-term competitiveness as a leading domestic down jacket is expected to be further consolidated.