JNBY Delivers Strong Results as Members Drive the Majority of Sales

While much of the apparel retail industry struggles with slowing customer acquisition, JNBY tells a different story. On February 26, JNBY (03306.HK) released its interim results for the 2026 fiscal year. Group revenue rose 7% year-over-year to 3.376 billion RMB, with net profit up 11.9%. Excluding government subsidies, net profit attributable to shareholders grew an even stronger 15.5%.

Member metrics are even more impressive. JNBY now has 590,000 active members and 340,000 high-value members. Members contribute over 80% of retail sales, and the repurchase rate exceeds 40%.

Why Member Depth Matters More Than New Customer Acquisition

These results point to a clear trend. As new customer growth slows, deep member engagement is replacing broad acquisition as the key to steady brand growth. JNBY segments its existing users carefully, turns one-time purchases into repeat orders, and builds omnichannel touchpoints across multiple brands and online-offline channels. Behind this strategy, digital tools serve as the foundation for efficient end-to-end operations.

How RFID Empowers JNBY's Retail Digitalization

As JNBY's long-term RFID solution partner, Century Lead understands the unique value RFID brings to fashion retail digitalization. RFID gives each product a unique digital identity, enabling traceability from production and warehousing to logistics, stores, and online channels. This provides stronger data support for member management and retail operations.

Precise Inventory Management

In single-brand stores and warehouses, RFID enables fast bulk counting and real-time inventory visibility. This reduces stockouts and overstocking, ensures bestsellers remain available, and improves both operational efficiency and customer satisfaction.

Consistent Omnichannel Experience

JNBY's online revenue grew 25.1% year-over-year, with gross margins also improving. This shows its online channel is not reliant on discount clearance. Instead, it delivers a shopping experience comparable to physical stores. RFID keeps online orders and store inventory in real-time sync, supporting options such as buy-online-pick-up-in-store or ship-from-nearby-store, ensuring consistent pricing and fulfillment.

Anti-Counterfeiting and Quality Trust

In deep member engagement, product quality and authenticity are essential to maintaining long-term trust. RFID allows the origin, batch, and craftsmanship of products to be verified, strengthening consumer confidence in the brand's commitment to quality and technology.

Building a Moat Through Customer Proximity and Speed

JNBY's financial report sends a clear signal. In a market focused on existing customers, the deepest moat belongs to the brand that stays closest to its customers and responds fastest to their needs. The value of RFID lies in making member insights, inventory management, cross-channel coordination, and quality assurance all data-driven, responsive, and consistent. This turns long-term member value into sustainable growth.

Century Lead is proud to have partnered with JNBY for many years, witnessing its evolution from a single brand to a multi-brand ecosystem, and from physical stores to omnichannel touchpoints. We believe that under the dual drivers of member value management and digitalization, RFID will continue to provide reliable support for precision operations and quality assurance in fashion retail, helping brands maintain customer trust at every touchpoint, even in an era of slowing customer growth.