Why Is BELLE Shoe Company Superior To Daphne?

One is the sales of first, first single brands in China.

Daphne (0210) and BELLE (1880) are listed companies in Hong Kong stock market. In the eyes of many export oriented footwear manufacturers, such as exchange rate and anti-dumping, they are undoubtedly the most worthy models for domestic market pformation.

Recently, the Chinese footwear industry research report released by UBS said that in 2006, Chinese residents bought 1.8 pairs on average each year, and this figure reached 2.3 pairs of shoes in 2012.

At the same time, in the field of women's shoes, BELLE group and Daphne international, UBS respectively raised their rating on the former, while lowering the rating of the latter, and emphasized the decisive role of BELLE's multi brand and wide channel's scale advantage in the future development.

Before that, Daphne was regarded by UBS as the most successful company of its kind.

Guangzhou Temple right new road, Daphne is a large street paved here.

Although it does not belong to several core business circles in the city, people who live and work in Wuyang new city will have an impression on the shop's big black bottom white signboard.

There are many stores like Daphne in Guangzhou, but BELLE is different. Tianhe City, Zhonghua square and Guang Bai are mostly in the footwear monopoly area of the comprehensive shopping mall.

"Don't just stare at the trademark" Belle ". The brands such as Teenmix (Teenmix), Tata (HERS), Staccato (Staccato) and BASTO (BELLE) are BELLE's own brands.

In addition, BELLE is the domestic agent of ELLE and GEOX foreign brands.

Not long ago, the world's second largest leisure shoes brand GEOX signed a cooperation agreement with BELLE international, which will sell products in China through the latter.

"At present, there are 28 brands of BELLE agents."

The Guangdong Footwear Industry Association told reporters that BELLE's channel is undoubtedly the best in the shopping mall of the first tier market nationwide.

"Each has its own advantages. BELLE has always been the first selling brand in the domestic market, while Daphne has won the first place in women's shoes for 11 consecutive years."

Chen Weiwen, chief consultant of Shanghai Biao Ma Management Consulting Co., Ltd., was appointed senior professional manager in Daphne. She told reporters that unlike BELLE, Daphne mostly adopted Street store mode.

Dominate in different subdivision areas, but all are settled in the huge market of mainland China.

Reporters learned that due to the pressure of exchange rate fluctuations and anti-dumping duties, many shoe manufacturers in the Pearl River Delta hope to open up gaps in the domestic market, including Hong Kong and Taiwan enterprises like BELLE and Daphne.

Despite the recent slowdown in China's GDP growth and high inflation at present, UBS still maintains a positive view of the footwear industry in China on the basis of its low per capita consumption, and lists two models of BELLE and Daphne.

"BELLE is leading the sales value of the footwear market, and its enhanced economic size and multi brand strategy will help create long-term stable growth."

UBS reiterated its buying rating for BELLE.

"Even in terms of valuation, Daphne looks more attractive."

UBS believes Daphne is facing more industry risks because of its lack of multiple brands and uncertainty in its new business.

UBS lowered its earnings per share forecast by 3% in 2009, downgrading its rating from buying to neutral.

The UBS report attributed BELLE's advantages to larger market capitals, larger economic scale, larger retail network, multi brand strategy, stronger bargaining power, higher net cash and potential consolidation capability.

Meanwhile, the reason for UBS to lower Daphne's rating is precisely that it is weaker than BELLE: market capitalization is relatively small, economic scale is low, retail network is smaller, net cash is relatively low, and there is a lack of multi brand strategy.

BELLE international CEO Sheng peppers once said that every woman passing by must have BELLE!

The channel network composed of brand groups and a large number of shops and shops can no longer be right.

According to BELLE's publicly available data, in 2007, 5 of the top 10 ranked among the top 5 in the domestic leather shoes market were BELLE (first), Teenmix (second), he (fourth), Staccato (seventh), and Shen Da (eighth).

BELLE's direct retail outlets reached 6143. Only a year ago, 2280 new retail outlets were added.

On the other side, Daphne also hopes to make a contribution to the channel size.

According to Chen Weiwen, in this year's 20th anniversary celebration activities, Daphne's plan for the future, including the expansion of the brand group, has closely worked with a foreign investor at "Buffett" level. The goal is to create Suning and Gome in the shoe industry.

Unlike BELLE, Daphne hopes to realize the chain store through the advantage of street shops.

It is understood that at present, Daphne has Daphne, SHOEBOX, SHOESHOP brand, and agents for Adidas and other international brands, there are more than 2800 chain stores in the country.

There are two different representations of street shops and store shops: single brand, brand group, and the "aura" of the two best scholars.

To return to the essence, channel is the key.

"At present, BELLE is the most successful channel in the country."

Yang Yelin, Deputy Secretary General of the Guangdong footwear industry association, thinks that GEOX chose BELLE before.

Weaving a perfect channel network has always been the tradition of BELLE's strategic mode, and also the key to its becoming an aircraft carrier in the industry.