You might not know this brand yet or struggle to pronounce its name, but BIEM.L.FDLKK Garment (比音勒芬) is currently one of the hottest menswear brands in China. It is known for its all-letter logo (some say it’s the name of a French designer), focus on golf apparel and high prices with polo shirts averaging over 1,000 RMB (137.49 USD). The main label has a price range between 1,500 RMB (206.24 USD) and 8,000 RMB (1,099.93 USD) while the golf label ranges from 1,500 RMB to 5,000 RMB (687,46 USD). With its premium positioning and high popularity amongst men over the age of 40, the brand is often referred to as the “Moutai of clothing”.
It is also known for its fast growth and high profit margin. Last year, BIEM.L.FDLKK earned 3.54 billion RMB (4.87 billion USD) in revenue and its profit rose to 911 million RMB (125.25 million USD). Gross profit margin of its apparel department reached a staggering 79.08% in 2023. The brand’s compound annual growth rate between 2011 and 2023 reached 22.7% in revenue and 28.7% in net profit. Last year, founder and chairman Xie Bingzheng announced that the brand is aiming to grow its revenue from around 3 billion (412.48 million USD) to 30 billion RMB (4.12 billion USD).
The brand’s financial report shows that during Q3 2024, BIEM.L.FDLKK saw its revenue drop 4.37% year-on-year (YoY) to 1.06 billion RMB (145.74 million USD). Meanwhile, the brand’s profit also plummeted 17.32% YoY to 280 million RMB (38.50 million USD) in a major slowdown. However, with the first 9 months of this year combined, the brand still grew its revenue by 7.30% to 3 billion, and its net profit grew by 0.55% to 762 million RMB (104.77 million USD).
BIEM.L.FDLKK’s quick growth has been helped by the popularisation of golf as a sport. It sponsored its own tournament and boasted in 2022 that it had topped the market share list in golf apparel for five consecutive years. As its quick growth slows down and sales stabilise, the brand has been trying to reach a younger audience with its marketing. It also acquired two high-end menswear brands last year, Cerruti 1881 from France and Kent & Curwen from England. It will be interesting to see how these are reflected in the brand’s next financial report.
