Vision Values Capital (00933.HK) subsidiary Bossini International Holdings Limited (00592.HK) bossini.X signed a clothing sponsorship agreement with the Hong Kong cycling team, becoming the team's exclusive apparel sponsor.
$VIVA GOODS(00933.HK) announced that its subsidiary $ BOSSINI INT'L.HK's new sports and casual wear brand "bossini.X" has become the "exclusive apparel sponsor for the Hong Kong Cycling Team". "bossini.X" collaborated with the Hong Kong University of Science and Technology (HKUST) to develop high-performance competition uniforms for the team through wind tunnel testing. The new fabric material used can reduce wind resistance by up to 3%, helping cyclists improve their performance for the Paris Olympics.
"bossini.X" and the Hong Kong Cycling Association held a signing ceremony for the three-year sponsorship agreement today at the Jockey Club Lecture Hall in the Olympic Building. Attendees included Mr. Li Ning, Chairman and CEO of FANFUN Group Limited, Mr. Leung Hung-tak, MH, Chairman of the Hong Kong Cycling Association, and members of the Hong Kong Road and Track Cycling Team.
Mr. Li Ning said: "Since its establishment, the bossini.X brand has become the official strategic partner of the Chinese cycling team and established long-term joint R&D cooperation with HKUST to provide professional cycling gear. Countless highlights of the national team have witnessed the R&D achievements and innovative technology of bossini.X. Cycling is a key event for the Hong Kong team, and we hope to bring bossini.X's R&D achievements and technology to Hong Kong cyclists, helping them maintain peak performance in competitions, reach the world's pinnacle, bring glory to Hong Kong, and inspire more people to participate in cycling, bringing more joy and happiness to Hong Kong."
"bossini.X" is a new health and casual wear brand created by BOSSINI, combining cycling culture with cycling as its core, offering high-quality, functional, easy-to-wear, and versatile casual apparel. By the end of 2023, it had about 100 retail stores in first- and second-tier cities in mainland China. In 2024, it plans to add another 100 new stores and adjust existing stores to align with the new cycling product positioning. By the end of 2024, the target is about 150 stores in mainland China. In Hong Kong, 5-10 new stores will open in 2024, including transformed old bossini stores and new locations. In the future, "bossini.X" will build online and offline cycling communities, host cycling-themed events, promote urban sports lifestyles, and encourage more people to enjoy cycling while spreading healthy living habits to consumers.
The new uniforms made by "bossini.X" for the Hong Kong team cover road, track, BMX, and mountain biking events. The track cycling uniforms, made with new fabric materials, underwent major R&D at HKUST's 2.5-meter low-noise sports wind tunnel in the Aerodynamics and Acoustics Laboratory. The wind tunnel is equipped with advanced cycling aerodynamics testing equipment for optimizing cycling apparel, gear, and athlete posture.
HKUST used 3D scanning to create virtual models of athletes and employed supercomputers and computational fluid dynamics simulations to analyze the impact of new gear and posture adjustments on airflow, designing aerodynamic tight-fitting cycling suits. Additionally, using a newly developed cycling mannequin, multiple rounds of wind tunnel tests optimized the suits' fabric stretch ratios. The optimized suits can reduce resistance by up to 3% at competition speeds, giving the Hong Kong team a technical edge in future races.
Regarding future development, Mr. Zhang Zhi, CFO of FANFUN Group and CEO of BOSSINI International Group, said in an interview: "Retail is closely tied to the economy, and Hong Kong's economic recovery is undoubtedly good news for retail. However, Hong Kong has limited resources and relies on other advantages and the global economy, especially China's. High interest rates currently affect retail, and if the U.S. doesn't cut rates, reasonable rents are crucial for retail. Nowadays, Hong Kongers prefer spending northbound, so enhancing competitiveness is key. From a product perspective, cycling apparel focuses on functionality, differing from the looser streetwear designs of the past. In the future, cycling wear may evolve into everyday casual wear, offering more styling possibilities. The brand is adjusting its domestic market and expects new opportunities from the repositioned cycling products in the second half of 2024. In the future, Hong Kong store designs will incorporate local elements, and the brand will adapt to regional characteristics. For overseas markets, we will seek retail-experienced partners and collaborate flexibly based on local conditions."
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