海瀾之家(600398 CH): 關注京東奧萊新業務成長

發展京東奧萊新業務

京東集團與海瀾集團達成戰略合作，攜手開展奧萊業務運營，在海瀾飛馬水城開設全國首家京東奧萊線下店，並在京東上線“京東奧萊官方旗艦店”為消費者提供優質便捷的服飾、輕奢、運動、鞋靴等大牌。

同時，京東上線了「京東奧萊官方旗艦店」，該旗艦店由上海京新海商業發展有限公司運營，上海京新海商業發展有限公司為上海京海奧特萊斯商業發展有限公司持股100%的公司。公司全資子公司上海海瀾之家投資有限公司持有上海京海奧特萊斯商業發展有限公司65%的股權。2024年9月25日，京東奧萊線下首店在無錫海瀾飛馬水城開業。

無錫海瀾飛馬城首店採用由海瀾集團獨家運營的商業模式，規劃面積5000平方米左右，設有運動鞋服、戶外、男女裝、童裝、輕奢、鞋靴等專區，包括安德瑪、阿迪達斯、PUMA、LEE、VANS、CHAMPION等眾多國際品牌，均為深度折扣特賣。

2025年元旦前後安陽店及滕州店先後開業

安陽店位於河南省安陽市北關區彰德路萬意廣場京東奧萊，滕州店位於山東省滕州市荊河中路999號中萬購物中心L2層（大潤發旁）; 兩店2024年12月28日試營業，2025年1月1日正式營業。

京東奧萊特點為：多品牌沉澱，始終專注品牌折扣領域，已匯聚超多大牌及商品，為消費者提供便捷實惠的運動大牌低價正品購物選擇。

極致購物體驗：「品牌、正品、精選、低價」京東奧萊甄選高性價比、優質品牌好貨，現場設有運動休閒、男女服裝、鞋靴等專區、一站式滿足日常所需。

會員制新零售：京東奧萊所有商品均採用會員制入店，憑會員身份可享受全場大牌商品折扣優惠。

HLA’s collaboration with the JD group is picking up pace with more physical stores opening to mark the turn of 2025. The menswear producer’s business expansion last year to include discounted big-brand retail demonstrates market awareness.  We maintain our BUY call.

The gist: BUY

·JD tie-up: HLA pivots from menswear to discounted big-brand retail model

·New business gains traction with more store openings

·Model: large line-up of affordable and authentic products by big brands

JD tie-up: HLA pivots from menswear to discounted big-brand new retail model

Business pivot: under JD.com’s strategic pact with HLA Group to jointly carry out shop outlet operations, JD Outlets opened their first China offline in Wuxi Heilan Pegasus Aqua City, while launching the official flagship store on JD.com. The collaboration offers consumers quality apparel with convenience, as well as light luxury wear, sports wear and shoes by other big brands.

About the first offline store: the first physical flagship store opened on 25 Sep 2024 and is run by Shanghai Jingxinhai Commercial Development, which is wholly-owned by Shanghai Jinghai Outlets Commercial Development, in which HLA’s wholly-owned subsidiary Shanghai Heilan Home Investment Company owns a 65% stake. The inaugural store in Wuxi Heilan Pegasus City adopts a business model exclusively operated by Heilan Group. The planned area of about 5,000sqm has designated areas for sports shoes and apparel, outdoor wear, men’s and women’s clothing, children’s clothing, light luxury wear, and footwear. The many international brands include Under Armour, adidas, Puma, Lee, Vans and Champion, which it retails at deep discounts.

Two more outlets: Anyang and Tengzhou stores opened for 2025 New Year

Two more stores have opened, with soft openings on 28 Dec 2024 before their official openings on 1 Jan 2025. The Anyang store is located at JD Outlets’ Wanyi Plaza, Zhangde Road, Beiguan District, Anyang City in Henan Province; while the Tengzhou store is located on the second level of Zhongwan Shopping Center at No. 999, Jinghe Middle Road, Tengzhou City, Shandong Province (next to the RT Mart).

Business profile: the key attraction of JD Outlets stores is a multi-brand product line-up offered with discounts. It brings together a multitude of authentic products by big sports brands to provide consumers with convenient and affordable options.

Designated areas: as mentioned, JD Outlets’ key value is in curating deeply cost-effective premium branded products. The layout designates areas for sports and leisure, men’s and women’s clothing, and footwear in a one-stop shopping experience.

Membership: under a new retail model, all JD Outlets products are sold on a membership basis by which members enjoy discounts on all major brand products.