Chinese fashion retailer, JNBY Group, announced its fiscal 2021 results ended June 30, with total revenue of 4.13 billion yuan ($638.56 million), up 33.1 percent year-on-year, and net profit of 647.2 million yuan (just over $100 million), up 86.7 percent.
The Hangzhou-based, Hong Kong Stock Exchange-listed company, has grown to boast a number of brands under its group umbrella, with the original JNBY brand joined by Croquis, less, JNBYHOME, kidswear brand jnby by JNBY and teen brand Pomme de Terre.
Over the reporting period the group’s total number of physical retail outlets increased from 1,855 to 1,931. It also said its membership programme has become a major revenue driver for the group, with its 4.9 million members contributing about 70 percent of revenue.
Within the past year, the company also opened Tianmuli, a 230,000 square metre art, retail and commercial complex in Hangzhou designed by Renzo Piano, which has become a popular landmark for both fashion and lifestyle.
The country’s $53 billion childrenswear market was set for double-digit growth even before the announcement of new government policies aimed at boosting a low birth rate.