Revenue of HK $6.996 billion in 2020 blue moon accelerates new category expansion

After handing over the first report card after listing, blue moon will expand its product range in the next step. In an interview with Beijing Business Daily on March 30, blue moon said, “in the future, blue moon plans to expand and upgrade product categories, continue to develop new products, upgrade existing products according to consumer feedback and industry knowledge, and seize appropriate opportunities to expand new product categories.”

Statistics show that blue moon was founded in 1992 and listed in Hong Kong by the end of 2020. It is one of the earliest brands engaged in the production of household cleaners in China. In 2000, blue moon launched antibacterial hand sanitizer to expand personal cleaning business. In 2008, blue moon began to enter the detergent market, opening the era of detergent. After 28 years of running, blue moon has more than 80 kinds of products in three categories of clothing cleaning care, personal cleaning care and home cleaning care.

On the evening of March 29, blue moon group released its first annual report after listing. Data show that in 2020, blue moon will achieve an operating revenue of HK $6.996 billion. In the second half of 2020, blue moon’s operating revenue was HK $4.56 billion, an increase of 5.3% over the same period in 2019. Meanwhile, blue moon achieved a net profit of HK $1.309 billion, up 21.3% year on year.

It is worth mentioning that in the financial report of 2020, blue moon personal cleaning care and home cleaning categories have achieved rapid growth. Among them, personal cleaning and care products will achieve a revenue of HK $836 million in 2020, with a year-on-year growth of 99.7%, and its proportion in the total revenue will rise from 5.9% in 2019 to 11.9%. In 2020, the revenue of household cleaning and care products will reach HK $565 million, up 24.5% year on year, accounting for 8.1% of the total revenue.

In this regard, the relevant person in charge of blue moon said in an interview with Beijing Business Daily that through adjusting the application of online and offline sales channel strategy, and continuous product development and innovation based on consumer demand, the performance of blue moon group remained relatively stable. At the same time, due to the epidemic situation, consumers improve their personal hygiene awareness, which leads to a substantial increase in the revenue generated by the sales of personal cleaning and care products and household cleaning and care products.

It is reported that since 2019, the blue moon has accelerated the layout of personal cleaning care, home furnishing and cleaning care. It has launched a series of new products, such as pure amino acid hand washing, day dew, fruit and vegetable cleansing essence, oil stain, foam, and mold. Since 2020, the blue moon has been pushing the new industry. In the field of nursing, for example, the new foam foam washing liquid, foam time kitchen hand washing liquid, automatic washing mobile phone, washing free bacteriostatic hand washing liquid and so on have been launched.

Contrary to the growth of personal care and home cleaning, blue moon’s income in clothing cleaning and care products decreased slightly. According to the data, the sales revenue of blue moon in 2020 was HK $5.596 billion, down 9.7% year on year. In this regard, blue moon announced in the announcement, “the decrease in earnings is mainly affected by COVID-19. During the epidemic prevention period, due to the need to maintain social distance, consumers have reduced outdoor activities and the purchase frequency of clothing cleaning and care products. Similarly, the sales volume of personal cleaning and care products and household cleaning and care products increased due to the improvement of personal hygiene awareness of consumers and the new crown epidemic prevention. “

In addition, in response to the epidemic, blue moon group once again increased the proportion of online sales. In 2020, blue moon’s online channel revenue will reach HK $3774 million, up 13.4% year on year, accounting for 53.9% of the total revenue from 47.2% in 2019; its offline revenue will reach HK $3222 million, including HK $994 million from direct sales to key customers and HK $2228 million from offline distributors.

“In terms of channels, blue moon plans to further consolidate the company’s Omni channel distribution network and increase product penetration, including using major e-commerce platforms to continue to consolidate its leading position in online channels, and will expand to emerging platforms such as social e-commerce and online purchasing systems of enterprises. In addition, blue moon will continue to strengthen cooperation with offline distributors, seize the opportunities of different line level cities in China, and continue to win the trust of consumers by promoting scientific cleaning knowledge. ” Blue moon relevant person in charge said.

Xu Xiongjun, a strategic positioning expert and founder of Jiude strategic consulting, suggested that blue moon could operate its three major businesses with multiple categories and brands in the future. Firstly, in the field of clothing cleaning and care, blue moon can further strengthen its leading position and enhance its market share; secondly, blue moon can adopt the multi brand strategy to create sub brands in various fields of blue moon; finally, blue moon needs to increase the layout of subdivided fields, which is the direction that blue moon needs to work hard at present.

Beijing Business News (reporter Qian Yu, Wang Xiao)

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