Media & entertainment stock perspective: Bai Jingting opens new store in Shanghai; GOODBAI and GOODEES WORLD expand

Recently, a huge construction hoarding has quietly gone up along Yanqingfang in Shanghai, bearing the brand GOODEES WORLD. This is the first national store of a sub-label under GOODBAI, the brand managed by well-known actor Bai Jingting. Not far away are his coffee shop, clothing store, and 24-hour vending machine.

In the past two months, GOODBAI also opened a pop-up space here, and Bai Jingting's giant poster attracted countless visitors for photos. Therefore, Yanqing Road has been dubbed "Bai Jingting Pain Street." Many celebrities start brands, but in terms of business ecosystem, channel construction, and expansion pace, Bai Jingting is arguably one of the savviest bosses in Chinese entertainment.

Clothes, coffee, and plush toys: multiple products rank top 10 on Tmall; collaborations with Salomon, New Era, etc.

The five-bay small foreign-style building on Yanqing Road is GOODBAI's first physical store nationwide. The brand, established in 2021, is a clothing and lifestyle brand founded by Bai Jingting. When the store opened in 2023, it caused long queues and scalper buying; some waited nearly 7 hours.

Even three years later, on a normal weekday afternoon, the store was bustling with customers browsing, trying on, and taking photos.

The store design is retro and minimalist, with dove (Bai Jingting fans' nickname) motifs everywhere. In terms of categories, GOODBAI covers clothing, shoes, hats, bags, accessories, etc. Compared to other celebrity streetwear brands, GOODBAI's pricing is not too high, ranging from 39 to 2,900 yuan. For example, its T-shirts mostly sell for 199 yuan, shoes range 159-799 yuan, and canvas bags, hats, and jewelry are mostly tens to a few hundred yuan.

One of GOODBAI's most popular products is the Vagabond Shoes, priced at 459 yuan, ranking 9th on Tmall's sportswear repurchase list. The shoes ahead of it are from Adidas, FILA, Anta, ASICS, Xtep, etc., reflecting GOODBAI's influence.

GOODEES WORLD, about to open its first store, also has a dedicated section in the store. This sub-label is based on Bai's original IP, the fuzzy ball image on the hoarding. Different from the main GOODBAI casual sportswear style, GOODEES WORLD positions itself as "cute, warm, healing," with products like shoes, clothes, phone cases, plush keychains, hair accessories, etc. On Tmall flagship store, its 129-yuan zodiac plush keychain has sold over 7,000 units; at the vending machine on Yanqing Road, the 99-yuan baseball cap keychain has sold out.

Since its inception, GOODBAI and its sub-labels have launched collaborations with multiple brands, including Salomon, Diptyque, New Era, Levi's, BABY-G, Holiland, Linefriends Minini, etc. These include trending mid-market new favorites, national brands, and streetwear brands, covering a wide range.

From shoes/clothes to coffee: building a multi-point consumption ecosystem on Yanqing Road

Beyond shoes, clothes, and IP derivatives, Bai's business map also includes coffee and bakery.

Not far from GOODBAI's Yanqing Road store is Bai Jingting's coffee shop, with coffee priced at 28-48 yuan, similar to other specialty coffee shops in Shanghai. In 2024, its "GOODEES Daman" small biscuits at 21 yuan for two pieces sparked online controversy.

Beyond Yanqing Road, GOODBAI has opened two other physical stores in Chengdu and Aranya, and pop-up/slow shops in Beijing, Paris, and Seoul. In addition to its own online and offline channels, GOODBAI has also entered some select shops, such as Musinsa, known as "Korea's Uniqlo." From selling shoes, clothes, coffee, to IP derivatives, Bai Jingting is building a comprehensive consumption ecosystem around young people's lifestyles.

Celebrity brand business logic: social media seeding + channel expansion

In the entertainment industry, many artists start brands. Edison Chen has CLOT, Jackson Wang has TEAM WANG, Daniel Wu started selling coffee, Hua Chenyu launched his own daily chemical brand this year. Why are celebrities keen on creating their own brands?

In an interview with Bazaar Man, Bai Jingting said that Maugham once compared the feeling of fame to someone giving you a string of pearls. Bai often thinks, "Can I find another such string of pearls?" Brands like GOODBAI are Bai Jingting's second string of pearls, sought for security.

Celebrities have natural traffic advantages when starting brands. Their rise also mirrors that of many emerging apparel brands: social media seeding, pop-up store testing, core mall first-store openings, etc. Except the celebrity and his/her friends are walking billboards; many stars have been seen wearing GOODBAI products in public.

But celebrity self-owned brands often face "cash grab" controversies or fizzle out. Meanwhile, because the brand is deeply tied to the celebrity, it can easily fall into the risk of "both prosper or both suffer."

Quality and supply chain support: collaboration expansion and risk control

GOODBAI has also faced negative publicity over product quality issues. In 2024, Shanghai Market Supervision Bureau reported that one of its denim jackets had pH values not meeting national mandatory standards; in 2025, a 599-yuan hoodie was reported to have peeling glue prints, with the back pattern transferring to car seats. After the incident, the brand's affiliated company issued an apology, announced a recall of relevant batches, and promised corrective actions.

Notably, GOODBAI's affiliated company, Zhentinghao (Shanghai) Brand Management Co., Ltd., is owned by Bai Jingting, Shangguan Zhe, and Li Yong, with stakes of 41%, 29%, and 10% respectively. Designer Shangguan Zhe's own brand has appeared at London Fashion Week, etc.; Li Yong has many years of experience in the apparel industry. Therefore, Bai Jingting's footwear and apparel business actually involves industry insiders, providing professional support in design, production, and supply chain.

Personally, Bai Jingting is a well-known "shoe king" in Chinese entertainment, loves various sports, and is a brand ambassador for New Era, Salomon, and other sports/outdoor brands. With sport demands becoming more segmented and diverse, GOODBAI has gradually developed specific sportswear series like football (916 express) and tennis (polomove).

Besides the casual sportswear style GOODBAI, Bai's affiliates also own teen tees (for young women), female fashion brand Ayrae, and trendy outdoor brand 30C. For example, 30C enters the outdoor trend with a trendy style, perfectly fitting the general outdoor consumption trend and its design strengths. 30C has already opened a store on Xiaohongshu, with Bai Jingting's same-style vests sold out in multiple sizes.

In fact, from the hit casual sportswear shoes, to trending IP plush toys, to general outdoors, Bai Jingting's every step basically rides the trend. On this level, his business success is far from just luck and traffic.

From the series of collaborations mentioned, some brands already have partnerships with Bai Jingting the artist. Actually, the biggest fear for celebrity brands is becoming mere celebrity merchandise. How to move beyond the fan economy to a broader market is exactly what Bai Jingting's brands are doing now and will continue to do long-term.

As Bai Jingting said, "Even apart from me, if consumers still recognize and like the products, that is my ultimate goal."