Hong Kong-listed lingerie brand Cosmo Lady says it will venture into overseas markets to seek global business partners.
The first Chinese underwear brand to go public, two years ago when it launched on the Hong Kong Stock Exchange, Cosmo Lady is seen in China as “the Oriental version of Victoria’s Secret”.
In 2015, Cosmo Lady ranked number one in the overall China’s intimate wear market with a market share of 3.3 per cent and total revenue increased by 23.6 per cent to about RMB 4.95 billion. Cosmo Lady Group primarily focuses on the design, research, development and sales of its own branded intimate wear products including bras, underpants, loungewear, thermal clothes, hosiery and other items. While China’s underwear market been growing by 10 per cent year-on-year over the last few years, the company believes there are also big opportunities to expand offshore.
Cosmo Lady opened 1032 retail stores 2015 and its distribution network now comprises 8050 retail stores in more than 330 cities.
“Cosmo Lady will continue its progressive expansion strategy of retail network in five major types of locations, including commercial streets, residential neighborhoods, transportation hubs, school zones and supermarkets and its high-end retail network in malls, department stores and shopping centers,” the company said in a statement.
Chairman and CEO Zheng Yaonan said the company will progressively expand in locations with not only the lower market share but also high growth potential, and continue to explore the industrial external growth opportunities.
“At the same time, Cosmo Lady will also be committed to improve core competitiveness and outperform their competitors through a series of initiatives such as the expansion into overseas markets and the collaboration with other well-known underwear brands, which will the company’s long-term strategic plan.”
This year, Cosmo Lady secured the rights to use Walt Disney characters on several specially-designed underwear lines.
The brand launched its latest range last April, reaching more than 200 million people through live broadcasts on social media platforms such as Weibo and WeChat.
“It is the company’s ambition that in the future Cosmo Lady will hold an Oriental version of the Victoria’s Secret fashion show in the US.”