Online boosted 361 Degrees sales growth

Source: https://www.retailnews.asia

Sportswear retailer 361 Degrees International believes sponsorships of the Asia Games in Indonesia this month, and a focus on e-commerce are helping it attract younger customers.

The Hong Kong-listed, Mainland China retailer of sports apparel, says sales increased 7.8 per cent in the first half year to RMB2.798 billion (US$411 million), with profit attributable to shareholders up 5.3 per cent to RMB335 million.

361 Degrees sponsored the debut of esports as a demonstration sport at the Jakarta Palembang Asian Games and has a broader involvement in the fast-growing market.

“As the youngest leading sports brand in China, 361 Degrees has been committed to establishing a youthful brand image,” said chairman Ding Huihuang.

In the first half of this year, 361 Degrees launched sportswear and accessories products jointly with QG Club, a mainland esports championship team.

“In the future, the group will promote the 361 Degrees brand among esports customers, cooperate with more esports teams, increase the esports product lineup, explore multiple sales modes such as physical store sales, and add an esports zone on e-commerce platforms to approach younger generation with the esports and blaze a trail for attracting young generation consumers,” he said.

Meanwhile, 361 Degrees’ e-commerce business increased by 185.5 per cent to RMB328.9 million, representing 10.9 per cent of the group’s turnover in the first half of this year, compared with just 4.1 per cent in the same period last year.

In the second half of this year, the group says it plans to continue to optimise its sales network and strengthen cooperation with e-commerce platforms such as Tmall, JD and Vipshop to promote the combination of online and offline sales channels.



Categories: Apparel, Asia, Brands, Business, China, E-commerce, Hong Kong, Indonesia, Retail

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