Youngor Fashion Co., Ltd.

Youngor Fashion Co., Ltd. is a company whose main business is the fashion industry. Its predecessor was a joint-stock enterprise established in 1993, and it listed on the Shanghai Stock Exchange in 1998. The company has long upheld the vision of “creating an international brand and building a century-old enterprise”, and in the course of its development it made attempts at diversified operations such as property development and industrial investment. According to the letter to shareholders in the company’s 2018 annual report, over the twenty years since its listing the company raised 7.1 billion yuan in the capital markets, paid 15 billion yuan in dividends and paid 25 billion yuan in taxes, and its net assets grew from 1 billion yuan to nearly 30 billion yuan.

In 2011, facing an economic slowdown, stringent real estate controls and a sluggish stock market, Youngor Fashion pushed ahead with industrial transformation: sales of its branded apparel grew rapidly and brand awareness rose markedly; its real estate business adapted to the controls, responding with reasonable pricing, stepped-up promotion and improved quality; and its financial investments were kept under strict size limits, thereby partly avoiding market risks. That year the company’s operating revenue was 11,539.44 million yuan, down 20.49% year on year, because it actively cut back its OEM export business and fewer completed property projects were delivered; operating profit and net profit were 2,438.42 million yuan and 1,762.71 million yuan respectively, down 28.29% and 34.03% year on year, mainly because investment income from the financial investment segment’s reduction of available-for-sale financial assets declined, coupled with fewer real estate deliveries.

2018 was the 20th anniversary of Youngor Fashion’s listing, and in that year’s annual report the company proposed building Youngor Fashion into a world-class fashion group around the trinity of “intelligent manufacturing, smart marketing and ecological technology”. 2019 was the 40th anniversary of Youngor Fashion’s founding, and the company advanced its work around the six-character guideline of “relocation, transformation and succession”: its production centres were largely relocated to lower-cost regions; transformation focused on the two directions of intelligent manufacturing and smart marketing, with intelligent manufacturing advanced with the goals of standardisation, automation, informatisation, digitalisation, intelligentisation and platformisation; and in terms of succession, the company worked to promote people born in the 1980s to leadership positions at all levels and gradually arranged for people born in the 1990s to take up posts on a trial basis. After the COVID-19 pandemic broke out in 2020, thousands of stores were at one point completely closed, and the company’s ten thousand employees carried out self-help marketing through micro-mall distribution, livestreaming and other means.

In its 2020 annual report, the company put forward the strategy of “building Youngor Fashion into a world-class fashion group through thirty years of hard work”, and specified three major reforms to be advanced: effectively integrating and making choices among its existing diversified industries, transforming its traditional operating model towards digitalisation and intelligence, and completing the handover of the business from the first generation to the second. In 2021, the company began implementing a multi-brand strategy, but to control costs it operated all brands in the same stores, so the actual effect was still close to that of a single brand; the company subsequently pushed for the brands to be split off and run independently, and brought sports and streetwear brands such as HH and UND into its scope of cooperation.

In 2022, the company adjusted its sixth five-year plan, making the building of a world-class fashion group the main goal of its future development. While strengthening the core Youngor Fashion brand, the company optimised and upgraded its high-end men’s luxury brand MAYOR, positioned HSM and HANP as an urban casual brand and a health and environmental brand respectively, and pushed the international partner brands UND and HH onto the market against the trend. In the same year, the company invested 2 billion yuan to build Youngor fashion experience centres in core cities across China, exploring a new business model of deep online-offline integration, while cutting back investment in property development to guard against real estate risks. In 2023, the company continued to increase its investment in the fashion industry and reduce investment in other unrelated industries, the construction of the fashion experience centres was gradually implemented, and the replacement of the old by the new was also made part of its institutional work.

2024 was the 45th anniversary of Youngor Fashion’s founding and also a year in which the company entered a period of deep adjustment. The company exited the real estate industry, in which it had operated for more than thirty years, devoted itself fully to developing the fashion industry, stepped up investment in and enhancement of the Youngor Fashion brand, and absorbed and expanded the brands it had brought in. The company said in its 2024 annual report that these investments had not yet produced returns. In 2025, the company drew up a new five-year plan and continued to advance towards its fashion industry goals. According to the letter to shareholders in the 2025 annual report, after the change of term of the board of directors, the business is now run by a new generation.