Boston British Layoff News

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< p > Bosideng International Holdings Ltd. (3998.HK) Bosideng is laying off workers in the UK.

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< p > British industry media quoted the news as saying that the 3998.HK layoffs were mainly aimed at the procurement and design team of London headquarters in Bradford (Bradford) and London, the only international flagship store, including three buyers in Bradford, a design assistant and design director, and at least one London a _blank "href=" //www.sjfzxm.com/ "designer" /a.

The procurement and design team was formed last summer. Amelia Pretious is the design director, and its Bosideng 2014 autumn winter series was released in New York fashion week for the first time in February.

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< p > News indicates that local employees are told that 3998.HK will make all future series no longer manufactured in the UK, and the Chinese team will take over the related responsibilities.

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< p > Britain is the first major market for international expansion of Boston (3998.HK). On the eve of the opening of the London Olympic Games in July 26, 2012, the London flagship store, which spent a total of 35 million pounds, officially opened its business and formally expanded its pace of international expansion.

Zhu Wei, chief executive of 3998.HK, revealed in early 2013 that the Bosideng brand might enter the high-end shopping center in London at the beginning of the year to accelerate European expansion.

However, market information indicates that London's flagship store is not as good as expected, and the European expansion plan is also shelved.

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A month later, Zhu Wei told Reuters that the London store "may not be profitable in the short term" P.

He said the company valued long-term goals rather than short-term profits, and so far, sales in the UK are in line with expectations.

"This is a strategic move for the company.

When we make a decision, we need to focus on the future. In the next 5 to 10 years, not the next one or two years, the two years may not be profitable.

In October 2013, 3998.HK paid 40 million yuan to buy Greenwoods, the British menswear brand.

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In January this year, 3998.HK landed in the US market and opened Bosideng brand guerrilla store in Rothmans men's clothing store in Union Square, Manhattan. It was released in New York fashion week in P.

It is said that 3998.HK is looking for places to open in Manhattan, and has hired many industry veteran and public relations companies to take charge of its US market.

Marty Staff, former Hugo Boss and Joseph Abboud executive of the US Bosideng consultant, said Bosideng plans to land 15-20 high-end department stores this fall, and plans to open temporary stores in Las Vegas, Losangeles and Miami in spring.

As for the independent store in Manhattan, it is being addressed. As with the London store, Bosideng will not use the lease method, but directly purchase real estate.

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In the early March, P finally launched the European expansion. After the Bosideng London, Italy launched a new European brand Bosideng Plus Zero in 3998.HK.

The headquarters of Bosideng Plus Zero will be located in Rome, which is designed in Italy, but is still used in China. It is said that the brand will be mainly distributed in Europe.

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< p > according to the no fashion Chinese network data, in the first half of fiscal year ended September 30, 2013, 3998.HK revenue decreased by 8.8% to 2 billion 809 million 200 thousand yuan per annualized year, gross profit margin rose 380 basis points to 49.4%, net profit rose 3.1% to 326 million 100 thousand yuan, or earnings per share of 4.10 yuan.

At the end of March, 3998.HK issued a profit warning, indicating that the consolidated income in the fiscal year ending March 31, 2014 will be a double-digit decline compared with the same period in 2013, mainly due to the intense competition in the down industry and the temperature in most parts of China in 2013 winter.

In addition, as the group's operating support continues to rise, < a href= "//www.sjfzxm.com/news/index_f.asp" > Bosideng /a > (3998.HK) is expected to decline in net profit for the whole year than the decline in revenue.

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