Semir expected to open up a net of 200-300 stores in 2023 with improving retail sales in Q1

Semir Apparel recently said that the company’s retail sales in end-user market fell by 10.8% year-on-year in January, but increased by 1.3% year-on-year in February, and increased by 6.9% year-on-year in March. Month-on-month improvement, the trend is positive. The cumulative sales of omni-channel retail from January to March decreased by about 4.1% compared with the same period last year, but the decline narrowed significantly from the previous month.

The retail of end-user market in the first quarter improved significantly from the previous quarter, indicating that the recovery trend of the retail market has started well throughout the year. The sell-out rate, retail discount rate, end-user inventory and inventory structure, especially the inventory of franchisees generally improved, which further clarifies that market confidence is recovering, and the quality and efficiency of the operation in the second quarter and beyond is expected to be better.

In the next 5-10 years, on the basis of developing the Asian market, the company will further apply the brand's product advantages, design advantages and mature supply chain system innovations to the African market. Up to now, the company has opened 61 stores overseas and in Chinese Hong Kong, including 25 Semir stores and 36 Barabara stores. At present, all overseas stores adopt the franchise model and are operated by agents. This model is suitable for business development needs and has the best risk-benefit ratio.

The company made relevant business plans at the beginning of this year. In terms of store development, it is estimated that the company will open up a net of 200-300 stores this year.