At a news conference on June 20, Maoren set a goal of increasing sales to 30 billion yuan ($4.47 billion). [Photo provided to en.whkfq.gov.cn]
Wuhan Maoren Yunshang Technology Co, located in the Wuhan Economic & Technological Development Zone, opened a news conference focusing on its strategic global upgrading on June 20 to mark its 25-year anniversary.
You Lin, president of the firm, said during the event that the company's sales revenue this year is expected to reach 10 billion yuan, and expressed his intent to "go back to physical stores" after a successful business extension in e-commerce.
Maoren is a professional domestic underwear maker based in Wuhan, Central China's Hubei province. [Photo provided to en.whkfq.gov.cn]
The company is a professional domestic underwear maker founded in the zone 25 years ago. It has more than 2,000 workers and generated 6.9 billion yuan in sales last year. The amount it paid in taxes over the past three years increased 50 percent year-on-year.
Maoren entered its rapid development stage in 2009, boasting over 1,000 flagship stores. However, the widespread influence of the internet forced it to develop an online sales model. In 2016, Maoren restored its previous glory and posted 500 million yuan in sales by proactively integrating into e-commerce platforms such as TMALL, JD and Douyin, and boasted more than 1,000 online franchises.
According to the company's president, last year it posted 6.9 billion yuan in sales revenue, 80 percent of which was via online channels. In addition, the brand is becoming more popular among young consumers.
Maoren has set an ultimate development goal of becoming a leader in advanced underwear, and will launch cooperation with Wuhan-based universities in product research and patent application.
