Red-Chip Consumer Stock Perspective: Bai Jingting's Store Expansion and Co-Brand Growth
Recently, along the street of Shanghai Yanqing Lane, a huge construction hoarding quietly went up, bearing the brand GOODEES WORLD. This brand is the national first store of a sub-line under GOODBAI, a brand founded by well-known actor Bai Jingting. Not far away are his coffee shop, clothing store, and 24-hour vending machine.
In the previous two months, GOODBAI also opened a pop-up space here, and Bai Jingting's huge posters attracted countless visitors for photos. Therefore, Yanqing Road was once called "Bai Jingting's Street." Not a few celebrities start brands, but in terms of business ecosystem, channel construction, and expansion pace, Bai Jingting can be considered one of the most business-savvy bosses in the Chinese entertainment industry.
The five-bay small villa along Yanqing Road is the first physical store of GOODBAI nationwide. The brand was established in 2021 as a clothing and lifestyle brand founded by famous artist Bai Jingting. In 2023, when the GOODBAI store opened, it triggered a wave of queuing and scalper purchasing, with some queuing for nearly 7 hours.
Even three years later, on a regular weekday afternoon, the store was bustling with customers shopping, trying on, and taking photos.
The store's overall design is vintage and minimalist, with dove (Bai Jingting fan nickname) elements everywhere. From categories, GOODBAI covers clothes, shoes, hats, bags, and accessories. Compared to other celebrity streetwear brands, GOODBAI's pricing is not too expensive, mostly ranging from 39 to 2900 yuan. For example, its T-shirts are mostly priced at 199 yuan, shoes concentrated in 159-799 yuan, and canvas bags, hats, and jewelry range from tens to two to three hundred yuan.
One of GOODBAI's most popular products is the "Wandering Shoes," priced at 459 yuan, ranking 9th on Tmall's sports casual shoes repurchase list. The shoes ahead of it are from sports giants like Adidas, FILA, Anta, Asics, and Xtep. This ranking reflects GOODBAI's influence to some extent.
The GOODEES WORLD, about to open its first store, also has a dedicated section in the store. This sub-line originates from its original IP, the furry ball image on the hoarding. Different from the main brand GOODBAI's casual sporty style, GOODEES WORLD is positioned as "cute, warm, and healing," with products mostly shoes, clothing, phone cases, plush keychains, and hair accessories. On its Tmall flagship store, its 129-yuan zodiac plush keychain has sold over 7,000 units. The 99-yuan baseball cap keychain in the vending machine on Yanqing Road has sold out.
Since its inception, GOODBAI and its sub-lines have released co-branded products with many brands, such as Salomon, Diptyque, New Era, Levi's, BABY-G, Holiland, Line Friends minini, etc. These include the hottest new mid-class favorites, national brands, and streetwear brands, covering a wide range.
In addition to shoes, clothes, and IP derivatives, Boss Bai's business map also includes coffee and bakery.
Not far from the GOODBAI Yanqing Road store is Bai Jingting's coffee shop, with a cup of coffee priced at 28-48 yuan, similar to other specialty coffee shops in Shanghai. In 2024, the pricing of its "GOODEES Da Mannyi" mini cookie, two pieces for 21 yuan, once sparked online controversy.
Beyond Yanqing Road, GOODBAI has opened two more physical stores in Chengdu and Aranya, and set up pop-up/slow-flash stores in Beijing, Paris (France), and Seoul (South Korea). Besides its own online and offline channels, GOODBAI has also entered some concept stores, such as Musinsa, known as the "Korean Uniqlo." From selling shoes, clothes, coffee to IP derivatives, Bai Jingting is building a complete consumption ecosystem around the lifestyle of young people.
Celebrity Brands' 'Channel Strategy': From Grass Planting to First Store
In the entertainment industry, many artists start brands. Edison Chen has CLOT, Jackson Wang created TEAM WANG, Daniel Wu started selling coffee, and Hua Chenyu launched his own daily chemical brand this year. Why are celebrities keen on creating their own brands?
Bai Jingting once said in an interview with Bazaar Men that Somerset Maugham compared the feeling of fame to someone giving you a string of pearls. Bai Jingting often thinks, "Can I find another such string of pearls?" Brands like GOODBAI are Bai Jingting's second string of pearls, found for a sense of security.
Celebrities starting brands have natural traffic advantages, and their rise process is similar to many emerging apparel brands: using a combination of social media grass planting, pop-up store trials, and first stores in core commercial areas. However, the celebrity and his/her friends are walking grass-planting machines. For example, many celebrities have worn GOODBAI products in public.
Public Opinion and Co-Brands Coexist: Product Quality Incidents & Recall Info
But celebrity-owned brands often fall into the controversy of "fleecing fans," or fade away without a sound. Meanwhile, because the brand is deeply tied to the celebrity, it can easily fall into the risk of all gain or all loss.
GOODBAI has also faced negative publicity due to product quality issues. In 2024, the Shanghai Market Supervision Bureau reported that one of its denim jackets had a measured pH value that did not meet national mandatory standards. In 2025, a 599-yuan GOODBAI sweatshirt was reported to have glue peeling off, with the back pattern printing onto a car seat. After the incident, the brand's affiliated company issued an apology, announced a recall of the relevant batch, and promised corrective actions.
Multi-Brand Layout & Category Extension: Sports, Trend Toys & Outdoor
Notably, GOODBAI's affiliated company, Zhetinhao (Shanghai) Brand Management Co., Ltd., is held by Bai Jingting (41%), Shangguan Zhe (29%), and Li Yong (10%). Among them, designer Shangguan Zhe's brand has appeared at London Fashion Week, etc., and Li Yong also has years of experience in the apparel industry. Therefore, Bai Jingting's clothing business actually involves industry insiders, providing professional support in design, production, and supply chain.
Personally, Bai Jingting is known in the entertainment industry as a "shoe king," loves multiple sports, and himself is a brand ambassador for sports and outdoor brands like New Era and Salomon. With sports demand trending towards segmentation and diversification, GOODBAI has gradually developed specialized clothing series for football (916 express), tennis (polomove), etc.
In addition to the casual sporty style GOODBAI, Bai Jingting's affiliated companies also own teenteens for young women, the women's fashion brand Ayrae, and the outdoor trend brand 30C. Taking 30C as an example, it chooses to enter the outdoor trend with a streetstyle approach, perfectly fitting the current general outdoor consumption demand and its own design advantages. 30C has already opened a store on Xiaohongshu, and Bai Jingting's same-style vests have sold out in multiple sizes.
In fact, from the hot-selling casual sporty shoes, to the trendy IP plush toys, to the general outdoor field, every step of Bai Jingting's basically lands on the trend. From this perspective, Boss Bai's business relies on far more than just luck and traffic.
Looking at the series of co-brands mentioned above, some brands are already cooperating with artist Bai Jingting himself. In fact, celebrity brands are most afraid of becoming mere artist merchandise. How to go beyond the fan economy to a broader market may be what Bai Jingting's series of brands are currently doing and will be doing long-term.
As Bai Jingting said, "Even if separated from me as a person, consumers still recognize it, many people still like it and think it looks good – that is my ultimate goal."
