361 Degrees International Limited (1361.HK) Bundle
An Overview of 361 Degrees International Limited
General Summary of 361 Degrees International Limited
361 Degrees International Limited, established in 2003, is a leading sportswear brand based in China. The company specializes in designing, developing, and selling a diverse range of footwear, apparel, and accessories, catering primarily to sports enthusiasts and casual wear consumers. As of 2024, 361 Degrees has expanded its product portfolio to include advanced technological features in sportswear, aiming to enhance athletic performance.
In 2023, the company reported sales of approximately RMB 6.3 billion, showcasing its robust market presence. With over 7,000 retail outlets across China and a growing international footprint, 361 Degrees continues to register significant growth in consumer demand and brand recognition.
Company's Financial Performance in the Latest Financial Reports
In its latest financial reports for the fiscal year ending December 2023, 361 Degrees International Limited achieved record-breaking revenue growth of 15% year-over-year, reaching a total revenue of RMB 7.2 billion. This growth was primarily driven by the exceptional performance of its core product lines.
The company's gross profit margin improved to 38%, compared to 35% in the previous year, reflecting efficient cost management and increased sales volume. Notably, the footwear segment accounted for approximately 60% of total sales, with revenues from footwear alone reaching RMB 4.3 billion.
Additionally, 361 Degrees reported a net profit of RMB 1.1 billion, a significant increase of 20% from the previous fiscal year. This reflects the company’s ability to enhance operational efficiency while expanding its market share.
| Financial Metrics | 2023 | 2022 | Change (%) |
|---|---|---|---|
| Total Revenue (RMB) | 7.2 billion | 6.3 billion | 15% |
| Gross Profit Margin (%) | 38% | 35% | 3% |
| Footwear Revenue (RMB) | 4.3 billion | 3.9 billion | 10% |
| Net Profit (RMB) | 1.1 billion | 0.9 billion | 20% |
Introduction to 361 Degrees International Limited as a Leading Company in the Industry
361 Degrees International Limited has positioned itself as one of the leading companies in the sportswear industry. The brand's commitment to innovation and quality has earned it a loyal customer base and recognition in both domestic and international markets. Its strategic initiatives to enhance brand visibility and expand product offerings have contributed to its competitive advantage.
In 2024, 361 Degrees plans to invest heavily in marketing and research and development, anticipating that these efforts will further solidify its market leadership. With a keen focus on sustainability and technological advancements, the company is poised for continued growth and success in an increasingly competitive landscape.
Mission Statement of 361 Degrees International Limited
Mission Statement of 361 Degrees International Limited
The mission statement of 361 Degrees International Limited is a critical declaration that outlines the company's purpose and direction, serving as a guiding framework for its long-term goals. It emphasizes the commitment to innovation, quality, and customer satisfaction within the sportswear industry.
Core Component 1: Commitment to Innovation
Innovation is fundamental to 361 Degrees, reflected in its product development and market strategy. The company invests significantly in research and development (R&D), allocating approximately 8.3% of revenue to R&D in recent years. This commitment has led to breakthroughs in performance footwear technology, such as their proprietary 361° Foam, providing enhanced cushioning and support.
Core Component 2: Delivering High-Quality Products
Quality is at the forefront of 361 Degrees' mission. The company adheres to strict quality control protocols, ensuring that every product meets international standards. In their latest financial report for Q3 2023, 361 Degrees achieved a 12% increase in customer satisfaction ratings based on surveys, reflecting their dedication to product quality.
Core Component 3: Fostering Community and Sustainability
361 Degrees emphasizes social responsibility by engaging with local communities and promoting sustainable practices. In 2022, the company reported a 15% reduction in carbon emissions as part of its sustainability initiative. Additionally, their community programs have reached over 50,000 youth globally, promoting sports and active lifestyles.
| Year | R&D Spending (% of Revenue) | Customer Satisfaction Increase (%) | Carbon Emissions Reduction (%) | Youth Engaged (Number) |
|---|---|---|---|---|
| 2021 | 8.0% | 10% | N/A | 35,000 |
| 2022 | 8.2% | 11% | 15% | 50,000 |
| 2023 | 8.3% | 12% | N/A | 60,000 |
Vision Statement of 361 Degrees International Limited
Vision of 361 Degrees International Limited
The vision statement of 361 Degrees International Limited encapsulates its ambition to be a leading player in the sportswear market. The company aims to redefine the standards of performance, style, and comfort, establishing itself as a brand synonymous with quality and innovation.
Global Market Leadership
361 Degrees International Limited envisions achieving a strong global market presence by expanding its distribution channels and product offerings. In 2024, the company aims to reach a market share of 10% in the global sportswear industry, which was valued at approximately $200 billion in 2023. This target reflects a significant growth ambition, considering its current market share is around 5%.
Commitment to Innovation
Innovation stands at the core of 361 Degrees' vision. The company plans to invest over $30 million in research and development (R&D) in 2024. This investment will focus on advanced materials and technology, aiming to launch at least 15 new products that incorporate cutting-edge performance-enhancing features.
Sustainable Practices
In alignment with global sustainability trends, 361 Degrees aims to integrate eco-friendly practices across its operations. The company has set a goal to reduce carbon emissions by 25% by 2025, with a sustainability-focused product line that contributes to at least 20% of total revenues by the end of 2024.
| Category | 2023 Value | 2024 Target |
|---|---|---|
| Global Market Size | $200 billion | $200 billion |
| Current Market Share | 5% | 10% |
| R&D Investment | $25 million | $30 million |
| New Product Launches | 10 | 15 |
| Carbon Emission Reduction | Baseline | 25% |
| Sustainable Product Revenue Contribution | N/A | 20% |
Customer-Centric Approach
Another pillar of the company's vision is a customer-centric approach. 361 Degrees aims to enhance customer experience through personalized marketing strategies and optimized customer service. By 2024, the company intends to achieve a customer satisfaction score of over 90% and increase its net promoter score (NPS) from 35 to 50.
Technology Integration
The company envisions employing advanced analytics and technology to streamline operations. A projected increase in e-commerce sales by 40% is anticipated, leveraging digital platforms to enhance sales channels. By the end of 2024, 361 Degrees aims to have 60% of its revenue coming from online sales, compared to 40% in 2023.
Core Values of 361 Degrees International Limited
Integrity
Integrity is a foundational value at 361 Degrees International Limited, emphasizing the importance of honesty and transparency in all operations. The company maintains strict adherence to ethical standards, ensuring that all dealings with customers, suppliers, and employees reflect this commitment.
In 2023, 361 Degrees launched the 'Integrity in Action' initiative, which aimed to enhance compliance training across the organization. This program engaged over 3,000 employees, ensuring that 100% of staff completed mandatory ethics training. The program also includes regular audits which reported that 98% of the documented business processes complied with internal regulations.
Innovation
Innovation drives 361 Degrees to stay competitive in the fast-paced sportswear industry. The company invests significantly in research and development, with an annual budget allocation of approximately 10% of its revenue.
In 2023, the company introduced the 'Future Forward' project, showcasing a new line of eco-friendly athletic gear made from recycled materials. This initiative contributed to a 15% increase in overall sales in the eco-product category. Furthermore, the introduction of smart textiles in select products garnered positive feedback, increasing customer engagement by 25%.
Customer Centricity
361 Degrees places customer needs at the forefront of its business strategy. The company seeks continuous feedback to improve its product offerings and customer service.
In late 2023, the launch of the 'Voice of the Customer' program led to a 30% increase in customer satisfaction scores as measured by post-purchase surveys. The integration of AI-powered chat support reduced response times to under 30 seconds, enhancing customer interactions significantly.
Quality
Quality assurance is critical to 361 Degrees’ brand reputation, ensuring that every product meets high standards before reaching consumers. The company's quality control processes involve rigorous testing protocols.
In 2023, quality control initiatives led to a 20% reduction in product returns compared to the previous year. The investment in automated quality testing equipment has bolstered accuracy by 35%, ensuring a higher consistency in product offerings.
| Quality Control Metrics | 2022 | 2023 | Change (%) |
|---|---|---|---|
| Product Returns | 5,000 | 4,000 | -20% |
| Testing Accuracy | 80% | 95% | +35% |
Sustainability
Commitment to sustainability is a core value for 361 Degrees, with initiatives that reduce environmental impact while promoting community engagement.
In 2023, the company achieved a 40% reduction in carbon emissions through enhanced operational efficiencies. The “Green Footprint” program has facilitated the planting of over 20,000 trees as part of its environmental commitment.
Additionally, 361 Degrees set a goal to source 50% of its materials from recycled sources by 2025, with 25% already achieved as of 2023.
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