China Service Holdings last year’s revenue receipt 8.9% will terminate the use of the Jeep trademark

China Service Holdings last year’s revenue receipt 8.9% will terminate the use of the Jeep trademark
On April 14, China Apparel Holdings Limited (hereinafter referred to as “China Service Holdings”) released its 2019 annual report.The report shows that the total revenue of China Service Holdings reached 8 last year.1.9 billion, a decrease of 8.9%; profit attributable to shareholders reached 19.9 million yuan, a decrease of 66 per year.9%.Information shows that the agents and own brands of China Service Holdings include Jeep, St. Paul, London Fog, Zo York, Babel and so on.In the report, China Service Holdings said that the decrease in revenue was mainly due to the decrease in revenue from self-operated channels and third-party retailers, and the online channel revenue was only slightly reduced.In the number of reports, China Service Holdings’ revenue from self-operated channels increased by 9.4% to 6.20,000 yuan, the revenue of third-party retailers decreases by 8 each year.7% to 1.390,000 yuan, online income decreased by 2 every year.6% to 59.6 million yuan.In terms of brands, China Service Holdings’ agency brand revenue reached 7.2.8 billion yuan, accounting for 88.9%; private brand revenue reached 90.9 million, accounting for 11.1%, both incomes are below the minimum.As of the end of 2019, the total number of China Service Holdings’ stores reached 841, a reduction of at least 25 stores, and the new coronary pneumonia epidemic will also adversely affect China Service’s business.Since the end of January, more than 70% of the retail stores of China Service Holdings have been temporarily closed, and these were minimal in February.But the final financial report announced that 90% of the group’s retail stores have been restored, and only Tianjin and Wuhan stores are still closed.In addition to the impact of the epidemic, China Service Holdings received the notice of termination of cooperation of the Jeep trademark owner on January 10, 2020, and it is expected to stop using the Jeep trademark by the end of 2020.According to the announcement, Jeep is the brand with the largest number of Chinese service holding stores, until the end of 2019 there are 514; followed by S?o Paulo, with 155.At the same time, Jeep is also a major brand run by third-party retailers.Regarding future company plans, China Service Holdings said that it will give priority to clearing Jeep inventory in 2020 and convert existing Jeep brand retail stores into its own brand stores such as MCS, London Fog, and Zor York.In addition, Henry Cotton’s and Marina Yachting completed by China Service Holdings in 2019 will also help the company continue to implement a multi-brand strategy in the new year.Sauna, night net editor Liu Jiaqi Zheng Yijia proofreading Yang Xuli picture Jeep official website screenshot