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Cosmo Lady reportedly plans to open 1,100 stores in 2024

Cosmo Lady reportedly plans to open 1,100 stores in 2024

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Chinese lingerie brand Cosmo Lady (都市麗人) is reportedly mulling to open 1,100 stores in the mainland, including approximately 1,000 franchise model stores and 100 self-operated stores.

According to local reports such as HKEJ and Ming Pao, Zheng Yao Nan (鄭耀南), chairman and executive director, Cosmo Lady, said the stores will be in major provinces such as Guangdong, Henan, Shandong, Sichuan and Chongqing, as well as in strong towns (千強鎮). It opened around 300 physical stores in the mainland last year.

As of the end of 2023,  Cosmo Lady owned a total of 4,372 stores in mainland China. Yang added that there has been a significant shift from online consumers to offline consumption in mainland China in the past six months. The company will actively enhance the customer experience in its stores.

Yang said the current main products of Cosmo Lady are priced at around RMB$100 to RMB$200, and there will be no price increase this year, focusing on providing cost-effectiveness. The company will also work on reducing costs in the upstream supply chain to improve gross profit performance. He believed that the gross profit performance will be better this year compared to last year.

According to Zheng, Cosmo Lady has become the official partner of the Chinese synchronised swimming team (中國國家花樣游泳隊), which will participate in the Doha 2024 World Aquatics Championships. The brand will take advantage of the popularity of the Olympic year and thus enhance its popularity among citizens. Meanwhile, new products will be released in March and promoted by the swimming team.

Don't miss: HongKongers flock to Shenzhen's megastores: How can city retailers beat the competition?

On the other hand, Henry Choi (蔡瑋軒), vice president and chief financial officer, Cosmo Lady, said the supply chain management capabilities have been improved, and the ordering model has gradually shifted from the "futures model" (期貨模式) to the "inventory model" (現貨模式). The proportion of regular product orders is about 60%, and ordering meetings have been changed from four times a year to two times to lower the risk and improve cash flow turnover.

Related articles: 

Watsons to open over 300 stores to accelerate its O+O platform strategy
Café de Coral reportedly plans to increase mainland stores to around 300

Jollibee Foods Corporation set to expand globally with 600 new stores

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