On September 8, JIANGNANBUYI Limited (Stock Code: 3306.HK) announced its full-year results for the year ended June 30, 2025 (“Fiscal Year 2025” or “FY2025”). On September 10, the company held an online media briefing to provide a detailed overview and interpretation of its FY2025 full-year results.

Financial statements show that in FY2025, JIANGNANBUYI’s total revenue increased by approximately 4.6% year on year to RMB 5.548 billion, primarily driven by growth in online channel sales and the expansion of its offline store network. During the same period, online channel revenue rose by 18.3% to RMB 1.201 billion. Benefiting from the upgrade and effective implementation of the inventory sharing and allocation system, incremental retail sales increased by 3.1% to RMB 1.137 billion.

During the reporting period, the company delivered solid results in the sustainable and scalable operation of its multi-brand portfolio. Revenue from JNBY, the company’s core brand with a history of more than 30 years, increased by 2.3% and accounted for 54.3% of total revenue. The combined revenue of the growth brand portfolio, including CROQUIS, jnby by JNBY, and LESS, which were launched between 2005 and 2011, declined slightly by 0.5% and represented 39.2% of total revenue. Meanwhile, the emerging brand portfolio, comprising POMME DE TERRE, JNBYHOME, onmygame, and B1OCK, recorded revenue of RMB 361 million, representing a year-on-year increase of 107.4% and accounting for 6.5% of total revenue.

The sustainable and scalable operation of the brand portfolio across these three stages has supported the company’s long-term, stable, and healthy development. As a result, the company’s overall brand strength has continued to improve, with the gross profit margin remaining at a high level of 65.6%.

Notably, during the fiscal year, the company continued to enhance member benefits and the overall customer experience. The implementation of a series of refined member engagement initiatives delivered positive results, driving a steady increase in the number of active members as well as significant growth in their retail spending.

Financial data shows that member-generated retail sales accounted for over 80% of JIANGNANBUYI’s total retail sales in FY2025, with the number of active member accounts rising to more than 560,000 (FY2024: over 550,000). The number of member accounts with cumulative purchases exceeding RMB 5,000 reached over 330,000 in FY2025 (FY2024: over 310,000), generating retail sales of RMB 4.86 billion (FY2024: RMB 4.49 billion) and contributing more than 60% of total offline channel retail sales.

Looking ahead, JIANGNANBUYI expressed confidence, underpinned by its diversified designer brand portfolio and robust operational management. The report stated that, while ensuring sufficient cash flow, the company will continue to consolidate and expand its position as an influential Chinese designer fashion brand and work toward building the “JIANGNANBUYI” lifestyle ecosystem.

Performance Demonstrates Strong Resilience, Focusing on Fan-Centric Omnichannel Retail Upgrade

As a core pillar of the global market, China’s consumer market is undergoing rapid transformation. Accurately understanding the increasingly diverse needs of consumers has become essential for enterprises seeking to maintain and expand their market share.

The financial report noted that while consumer confidence in China is gradually recovering, consumer markets across cities of different tiers continue to show marked differentiation, and offline foot traffic remains volatile. In response, JIANGNANBUYI has not only continued to upgrade emerging consumption scenarios and product offerings, providing greater value-added services to consumers, but has also consistently enhanced the in-store image of each brand to create a more comfortable and engaging shopping experience. At the same time, the company has further deepened and strengthened its omnichannel retail network, integrating online and offline channels to provide consumers with a seamless and consistent shopping experience. This approach has supported continued growth in online sales in response to evolving consumer behavior.

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JIANGNANBUYI Reports FY2025 Growth in Revenue and Profit, with Total Revenue Reaching RMB 5.548 Billion and Gross Margin Stable at 65.6%

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