Former Dior menswear artistic director joins; Bosideng takes another step toward high-end transformation

``` Bosideng is continuously deepening its high-end fashion narrative. Recently, Bosideng officially launched its new "AREAL High-end Urban Line" and announced the appointment of British designer Kim Jones as the series' Creative Director. Kim Jones has extensive experience in luxury fashion. He served as Head of Menswear Design at Louis Vuitton for over seven years, during which he led the landmark collaboration between LV and streetwear brand Supreme, earning him recognition in the industry as a designer who “seamlessly connects classics and trends.” He later joined the LVMH group, taking charge of Dior Menswear as well as Fendi Womenswear and Haute Couture collections, until stepping down in early 2024. Bosideng stated that the first AREAL series co-created with Kim Jones is planned to launch globally this October, with over 20 designs in the first season, covering both menswear, womenswear, and accessories. Currently, six down jacket products from the series are available on Bosideng's Tmall flagship store, with prices ranging from 2,399 to 3,999 yuan. This collaboration represents a significant upgrade from Bosideng’s past partnerships with international designers. Bosideng also emphasized that this collaboration is based on a long-term strategy, not a short-term co-branding. Kim Jones will be deeply involved in all aspects of creating the AREAL series, including design, visual arts, and global marketing strategy. Market analysts believe that Kim Jones's addition is expected to inject internationally recognized fashion influence into Bosideng, addressing the brand's key shortcoming in high-end design and further strengthening its luxury narrative capabilities. This highly anticipated collaboration is a continuation of Bosideng’s long-term efforts in brand premiumization and fashionization. Over the past eight years, Bosideng's main product prices have risen from about 500 yuan in 2017 to 1,500-2,500 yuan in 2025, with its high-end "Dengfeng" collection even launching products priced over 10,000 yuan. In the luxury price segment above 5,000 yuan, Moncler and Canada Goose still dominate; Bosideng has yet to make a substantial breakthrough. For this reason, in recent years the brand has gradually extended its high-end strategy to investments and acquisitions. At the end of 2021, Bosideng established a joint venture with German luxury sports brand Bogner, introducing its main and sub-lines into the Chinese market. In 2024, it also made a strategic investment in the Canadian luxury down jacket brand Moose Knuckles, acquiring over 30% ownership. While breaking into the high-end market, the new AREAL series also offers Bosideng new possibilities to expand product usage scenarios and break seasonal boundaries. In recent years, Bosideng has continued to explore non-winter markets, launching lightweight down jackets, outdoor jackets, and sun-protective clothing for spring/summer functionality. In the fiscal year ending March 31, 2025, Bosideng’s down apparel business achieved revenue of 21.67 billion yuan, up 11% year-on-year, with its proportion of total group revenue decreasing slightly by 0.4 percentage points to 83.7%. During the same period, the proportion of wholesale and OEM business rose, the gross margin for new sun-protective clothing categories was relatively low, and rising raw material costs collectively led to a gross margin decrease of 2.3 percentage points to 57.3%. Risk Warning and Disclaimer The market is risky and investment needs caution. This article does not constitute personal investment advice and does not take into account the particular investment objectives, financial situation, or needs of individual users. Users should consider whether any opinions, views, or conclusions in this article are suitable for their particular circumstances. You bear sole responsibility for investment decisions based on this article. ```