PEACEBIRD’s Annual Revenue Exceeds 10 Billion Yuan for The First Time, Revealing that A 10-Million-Yuan Investment Was Made to Menswear 8ON8

March 31,2022

Chinese Fashion Company Ningbo Peacebird Fashion Co., Ltd. (hereinafter referred to as “PEACEBIRD”, SH:603877) issued its 2021 annual report on March 29, 2022. It revealed that its revenue surpassed 10 billion yuan for the first time, reaching 10.92 billion, up by 16.3% year-on-year (2020: 9.39 billion yuan).

Based on the annual report and the brand’s recent actions, Luxe.CO will, from five angles, analyze how PEACEBIRD successfully transformed and commenced the plan to “become the top choice among young consumers in China”.

 “Hierarchical Brands” Strategy to Reach Various Consumer Groups

PEACEBIRD carries out “Hierarchical Brands” strategy and boasts of multiple brands such as PEACEBIRD WOMEN, PEACEBIRD MEN, LEDIN for young women, Mini Peace for children, MATERIAL GIRL MG, Petit Avril for children and so on.

In May 2020, PEACEBIRD acquired Italian streetwear and skateboarding apparel brand COPPOLELLA to take charge of COPPOLELLA’s business in China, so to enter the trendy sportswear sector. In the first half of 2021, COPPOLELLA’s revenue reached 37.83 million yuan, a 174-fold growth year-on-year. Apart from T-mall, COPPOLELLA also focused on expanding new social media platforms equipped with e-commerce function such as TikTok, Dewu and so on.

In 2021, the revenue of Mini Peace reached 1.27 billion yuan, up by 29.5% year-on-year, making it the fastest growing one among the company’s brands.

Invest in Designer Brand 80N8, Embracing Independent Designers in China

During the reported period, PEACEBIRD purchased a 20 percent stake of the independent Chinese designer brand 8ON8 (Aoli Fashion Design Co., Ltd.) for menswear for 10 million yuan.

8ON8 was founded by designer Li Gong in 2017. After getting his bachelor’s degree at the London College of Fashion, he went on to pursue his post-graduate education at Central Saint Martins, majoring in menswear fashion, when he was granted the Grand Prix LVMH Scholarship. 8ON8 has collaborated with sportswear brands such as ASICS, Kappa and PUMA and it was the first Chinese designer’s brand to pair with Italian luxury menswear Canali.

One major source of PEACEBIRD’s creativity originates from collaborations with independent designers. In February 2021, PEACEBIRD partnered with six designer’s brands in China--- XU ZHI, WMWM, GARÇON BY GÇOGCN, CALVIN LUO, NOMANOMAN and STAFFONLY. Designers first pick a signature design and hand it over to PEACEBIRD for remanufacturing. Supported by PEACEBIRD’s advanced production line, these items can be further adjusted and developed in huge amount.

Chinese Culture Represented by SUPERCHINA

In 2021, PEACEBIRD unveiled SUPERCHINA to illustrate its “Chinese Design.”

In August 2021, PEACEBIRD WOMEN collaborated with designer Angus Chiang to launch PEACEBIRD X National Treasure collection which was inspired by cultural relics of Sanxingdui Ruins (an archaeological site) and murals of Dunhuang Grotto. In December 2021, LEDIN released a collection under the collaboration with Dunhuang Museum.

Conversation Between PEACE CREW and The Young Generation

In the fourth quarter of 2021, PEACEBIRD announced three brand endorsers in a row, including Qian Yang who won two Olympic gold medals at Tokyo Olympics for SUPERCHINA, an independent collection of PEACEBIRD WOMEN; young actor Jingting Bai for PEACEBIRD MEN; celebrity Yibo Wang as global ambassador for PEACEBIRD.

In March 2021, Esther Yu (Shuxin Yu) signed the contract to become LEDIN’s endorser. In 2020, the brand announced celebrity Nana Ou-yang as PEACEBIRD WOMEN’s endorser and the brand’s first spokesperson. And this matrix of young endorsers are named as “PEACE CREW”.

PEACEBIRD MEN initiated a project to unite with fashion colleges both home and abroad and to collect creative designs from college students and society as a whole.

Launch Carbon Neutral Campaigns

In June 2021, PEACEBIRD announced its vision to achieve carbon neutrality to the public and commenced action towards the goal. The company promised to strive for zero emission of the complete value chain by 2046 and achieve carbon neutrality of its operations by 2035.

Meanwhile, PEACEBIRD has donated 2 million yuan to Fashion Climate Fund of the China Green Carbon Foundation.

| Photo Credit: PEACEBIRD

| Writer: Jiaqi Wang


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