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The former "China's first women's brand" Baozi is not good.

Time: 2017-06-14 17:29:58

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On October 14th, Baoguo International Holdings Co., Ltd. (00589, HK, referred to as Baoguo International), which is regarded as “the first women's wear in China” and has the Ports Women's Wear brand (

On October 14th, Baoguo International Holdings Co., Ltd. (00589, HK, referred to as Baoguo International), which is regarded as “the first women's wear in China” and has the Ports Women's Wear brand (hereinafter referred to as Baozi), announced the change of board members. Baozi’s “Godfather” Chen Qitai stepped down as CEO of the group and was replaced by his son Chen Junming. Chen Qitai, the niece of Chen Qitai, was also appointed as the company's president and chief operating officer. The international leadership of Baoguo was officially transferred from the veteran to the second generation of the group.

Faced with the pressure from international big brands, fast fashion brands and e-commerce channels, the domestic old-fashioned clothing brands represented by Baozi have been underperforming in recent years and are actively exploring the sideline territory.

The two founders' children

In 1961, the Ports brand was born in the Canadian port city of Toronto. In 1993, Ports set its sights on the Chinese mainland market, and its products are currently sold in China, the United States and Canada. At the beginning of Baozi's entry into the Chinese market, domestic high-end clothing brands were still in the gap period. With the positioning between high fashion and ordinary ready-to-wear, Baozi once made up for the blank of the domestic market.

The reporter saw in his official flagship store that his autumn and winter coats ranged from 3,000 yuan to 4,000 yuan.

In 2003, after leading Baozi landed on the Hong Kong Stock Exchange and became the first "Chinese godfather" of the Chinese women's clothing, Chen Qitai's resignation, Bao Guo International's CEO and executive director will be replaced by his son Anthony PaulChan.

According to the announcement, Chen Junming, 37, has more than 15 years of experience in corporate strategy, operations, private equity investment and corporate finance.

In this personnel change, Chen Jingjing, the daughter of another founder of the Hong Kong brand, Chen Jingjing, was appointed as an executive director, authorized representative, company president and chief operating officer. She also has many years of experience in marketing and sales.

Compared with Chen Qitai, a father who grew up in a clothing foundry and is a physics major, the new leadership that has set off the banner of Baozi has a more professional background in capital operation and marketing.

This may be closely related to the strategic transformation of Baoguo International. In 2015, Chen Qitai also said in an interview with the media that “the focus of future family investment is not only the luxury goods industry, but also the real estate, medical, computer and environmental protection fields”.

Just last year, the company has officially changed its name from “Baozi Fashion Co., Ltd.” to “Baoguo International Holdings Co., Ltd.” to expand its diversified investment company from a vertically integrated fashion company.


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