On March 8th, 2018, AWE2018 arrived on schedule. Accompanying the overall victory of the kitchen and electric industry, Vantage's pace of innovation was also accelerating. At this exhibition, Vantage launched two types of hoods that focused on intelligence. A stove, fashionable and beautiful design and humanized solutions are the common features of these new products. At this exhibition, Vantage also proposed the theme of 'Kitchen post-industrial era'.
In respect of the hood, Vantage has released the Mirage hood and the Sky Mirror hood. The two new products combine stylish industrial design with patented near-inhalation and speed-absorption technologies to help users solve the fumes spread problem from the source of smoke and realize Quiet, clean, strong smoke removal. On the cooker side, Vantage launched the X-MAX fine cooker, equipped with poly combustion technology + intelligent fire control technology, allowing users to clearly perceive the size of the fire, and precisely control the best cooking time of various dishes In addition, it is worth mentioning that Vantage also released the 'knowledge kitchen' that subverts the definition of traditional kitchens as a new attempt to provide value-added services for consumers to have material and spiritual food in the kitchen. The double harvest.
Pan Yejiang, chairman of Vantage Co., Ltd., said that several new products launched by Vantage on AWE2018 have achieved a qualitative breakthrough compared with before, and are the best products we have presented in years.
On February 27, Vantage released its performance forecast. In 2017, Vantage achieved revenue of RMB 5.73 billion, an increase of 30.4% year-on-year, and net profit of RMB 510 million, a year-on-year increase of 55.2%, and non-net profit growth of 8.9%. This was a good harvest. The achievement of Vantage's 2017 performance has benefited from boarding the 'uphill elevator' in the kitchen and electric industry, and it also has the right direction for its own selection.
Pan Yejiang pointed out: 'In recent years, we have continuously introduced a variety of high-quality products that meet the needs of the market and deeply resolve users' pain points. This has enabled Vantage's 'high-end smart kitchen appliances' brand to enter the hearts of people; at the same time, we have optimized our management. The company's process construction has achieved a group management and control model. A series of measures have enabled Vantage to achieve significant progress and development in terms of brand image, product structure, and channel competitiveness. Positive changes have taken place in market share and operating efficiency. We have built a solid support for our strategic goal of 'three years across 10 billion, six years and 20 billion'.' '
Kitchen electric elevator
According to data from Yikang, China's kitchen power market in 2017 will reach a sales scale of 96.8 billion yuan. In 2018, it is expected to leap through the threshold of 100 billion to enter the 1500 scale.
The brokerage analysis pointed out that at present, the scale of smoke stove products in China still stays at a scale of 20 million units. Compared with the production of ice and washing products of about 35 million to 40 million a year, the ceiling of kitchen power is still high. The properties of kitchen power determine each household Just buying a product is similar to ice and washing. In recent years, ice and washing products have been maintained at a stable level of about 40 million units. By this reference, there are still 20 million units in the kitchen power market in China.
The data shows that the average household ice-washing product of urban residents in China is 0.96 units and 0.94 units respectively, and the average amount of smoke machines and stove units is 0.72 units, which is equivalent to the development level of refrigerators in 1997 and washing machines in 1988; In the rural market, the average amount of household ice and washing products has reached 0.9 and 0.84 respectively, but the number of smokers and stoves is only 0.18. With the implementation of national urbanization and the implementation of the rural rejuvenation strategy, there is a huge imaginable space in the future.
At present, compared with Black, the high concentration of white electric brands, kitchen electric brands are closer to the 'discrete' state. The data shows that as of 2016, the number of domestic kitchen electric appliances market is 577, despite the top 5 and top 10 brands. The ranking is basically fixed, but the top 5 market share only accounted for 10% of the market sales, sales share of about 20%. Despite the scarce contact between the mainstream brands, but the difference in brand power and price gradient between different regions and levels is significant. With the promotion of consumer brand awareness, especially the advancement of mainstream brand channels, the shuffling between kitchen brands is inevitable, and the industry concentration is expected to increase further.
Vantage's New Deal Era
Since 2015, Vantage completed the second generation of management transition, the company stepped into the Pan-New Deal period. As a second-tier brand, Vantage voiced less, played a 'silent partner' in the kitchen camp, but in the new In the hands of a generation of managers, Vantage began to become active from product strategy to marketing strategy.
In the third- and fourth-tier cities with traditional advantages, Vantage brand recognition is good, and in recent years, the hot sales of third and fourth-line real estate have created a good opportunity for Vantage growth. In first-tier cities and second-tier cities, Vantage advertises its high-end positioning through advertising and spokespersons. , At the same time, the transformation of large stores and storefronts was launched, so that the concept of 'Fang Laohua' replaced the concept of 'party old man' and achieved significant results.
In 2017, Vantage built 100 new flagship experience stores and 500 standard stores, and upgraded nearly 5,000 terminals. In 2018, Vantage will continue to promote channel expansion, and the flagship stores will be stationed in the home of the surprise and the Red Star Macalline. The prefecture-level cities continue to increase their flagship experience stores, and terminal network coverage will further increase.
In this exhibition, Vantage and the new generation jointly created a magical realistic sculpture “Wisdom Brain” brand art space. In this space, visitors can experience the Vantage Knowledge Kitchen and Dishwasher products through holographic projection technology. The top creative creator of Asia, Xiong Chaozhi, was inspired by Prometheus, a prophet of Greek mythology. In addition, Vantage also hired as a spokesperson for the company this year to convey the brand image of the company's young fashion. Through a series of operations, Vantage has Significant progress and development have been made, especially in the areas of brand image, product structure, channel competitiveness, market share, and operating efficiency, which have undergone important changes and improvements, 'three years 10 billion, six years 20 billion'. The situation has already formed.
At present, Vantage and Fangtai, the boss still has a certain gap in price positioning, which also reserves a large space for the upgrading of Vantage products. In 2017, the average price of Vantage products increased by 13%, of which the price of traditional smoke stove eliminate heat About 5%, the average price increase driven by product structure upgrade increased by about 8%, while the increase in average price brought about a 3-4 percentage point increase in gross profit, making profit growth faster than income growth.
Vantage said that on the basis of 2017, Vantage is expected to maintain rapid growth. And in the future, they will also expand more distribution channels, such as e-commerce channels, engineering channels, etc.
It is reported that at present, Vantage's distributor contract has been signed in November last year, dealer cooperation attitude is positive.
Brokerage firms predict that Vantage is expected to achieve 25% revenue growth in 2018.