GUANGZHOU, China, June 28, 2016 /PRNewswire/ -- Cosmo Lady announced that it will venture to overseas markets to seek global business partners. It is the first Chinese underwear brand to go public, two years ago, Cosmo Lady (2298.HK) successfully landed on Hong Kong Stock Exchange, with the market value of HKD 18 billion. In China, the brand has been well known 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%. The total revenue increased by 23.6%, which is approximately 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 others. According to the relevant research, China's underwear sales has been growing by 10% year-on-year over the recent few years. It's expected that the growing will keep the pace in the coming three years.
With 1,032 retail stores newly opened in the year of 2015, Cosmo Lady's distribution network comprised of 8,050 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, in addition to high-end retail network in malls, department stores and shopping centers. Mr. Zheng Yaonan, Chairman, Executive Director and Chief Executive Officer of Cosmo Lady, said, the company will progressively expand in locations with not only the lower market share but also high growth potentials, 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. In 2016, for the first time in China, Cosmo Lady gained the authorization from Walt Disney on several specially designed pairs of underwear.
To further elevate its brand influence, Cosmo Lady held a product launch in April 2016 with a combination of entertainment performance and fashion show. Famous Chinese stars including Lin Chi-ling and Huang Xiaoming were invited. Mr. Cheng Zuming, Chairman and Vice President of Cosmo Lady, said, the live broadcast successfully reached more than 200 million people through 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 Victoria's Secret fashion show in the United States.
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