On November 5, Dayang Group received another email from “Stock God” Buffett. Since becoming a high-end customer of the “Creation” brand two years ago, Buffett likes to put it on immediately after receiving the ordered clothes, call his secretary to watch them, and then take photos and write back to express his gratitude.
Last September, at the celebration of the 30th anniversary of the founding of Dayang Group, Buffett also sent a congratulatory gift – a 3-minute video with an astonishing statement: “I now have 9 sets of ‘Creation’ Brand suits, Bill Gates also wears them, so I threw away all my previous suits. These suits made in China never need to be modified and they fit perfectly.”
Tailor-made, priced 3 The “Chuangshi” brand suits worth RMB 10,000 to RMB 60,000 have attracted several international celebrities such as Buffett and Bill Gates. Dayang Group Chairman Li Guilian did not want to disclose this. However, the “Wall Street Journal” recently bluntly stated that Italian men’s clothing brand Brioni is facing a serious challenge from China’s “Creation”. The group subsidiary Dayang “Chuangshi” has completed its annual production plan in the first three quarters, with total operating income of 629 million yuan and net profit of 80.2549 million yuan, a year-on-year increase of 101.53%. Dayang just stayed behind in the global clothing market despite the international financial crisis.
At the end of 2008, the overall clothing market had not yet deteriorated. Dayang, whose imports accounted for 85% of its main revenue, predicted something bad through several orders declining in general regions. To prove her judgment, Li Guilian not only consulted economic experts, but also led the group’s senior executives to visit overseas to analyze the market conditions with domestic partners and close the relationship between the two parties. Dayang took advantage of the situation and proposed the strategy of establishing a “dedicated line franchise”, that is, assigning a dedicated production line to each customer to ensure supply.
“Although this is not flexible, it can lock in a large number of orders in advance. Customers also think that this can serve them more focused and ensure their quality and design style.” General Manager Shi Xiaodong said. With this innovative strategy, Dayang has stabilized more than 150 domestic customers in 22 countries around the world and received more orders when the international financial crisis hit.
In response to the constant changes in the U.S. dollar exchange rate, Dayang and its customers locked in the U.S. dollar and RMB exchange rate in advance for trade settlement. In September and October last year, clothing companies began to complain. At the end of this year, Li Guilian visited the world again. For customers who are in difficulty, we make concessions on the exchange rate in order to tide over the difficulties together, and also send a message to customers: China Dayang is a trustworthy partner.
Accelerating the establishment of independent brands with high added value is also an important measure for Dayang’s strategic adjustment. Dayang has determined to become a global large-volume tailor-made company in the past years, allowing the “Chuangshi” brand to gain a foothold in the world’s high-end men’s wear market. “One-to-one tailoring” refers to tailor-made clothing for each customer. It is the high-end of the clothing manufacturing value chain, and the return rate is more than 5 times that of conventional consumption. “High-end customers are loyal to the brand and have a trend-following effect on the public. ‘Creation’ has six clothing consulting teams, which go to many corners at home and abroad every day to provide customers with personalized clothing consulting services.” Li Guilian said. .
At the same time, a marketing strategy centered on flagship stores to drive regional market development has also begun to unfold. At present, the “Chuangshi” men’s clothing Shenyang flagship store with an area of more than 700 square meters has opened, and new stores have been opened in “Chuangshi” in major cities such as Beijing and Harbin. In addition, in order to further expand the international market, following the launch of the junior business professional wear brand “Kaimen”, in mid-October this year, the YOUSOKU (Cool Tribe) brand targeting the elderly was launched, using the Internet Suits for sale.
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