Zhang Zemin: On Saturday, The Shoe Industry Opens A Store Every Day.

Before the listing, Saturday It has ranked three in the domestic women's shoes brand. After the listing, Saturday became the first domestic share of women's shoes in the A share market. The rapid expansion of the layout, brand innovation, combined with the domestic market, the urgent need to lead the consumption demand for women shoes, people are full of imagination for its future. Although the story is good, Zhang Zemin, chairman of the board, is more inclined to be down-to-earth and prudent in running like his brand shoes. This year, Brand promotion Will become the first strategy on Saturday.

A store will be faster next year.

In the first half of the year, the company realized net profit of 57 million 20 thousand yuan, an increase of 7% over the first half of the year, and the net profit in the first three quarters was expected to increase from -25% to 5% in the first half of the year. Compared with previous years, such a growth rate is not fast, some investors believe that A shares "women's shoes first stock" has not reached their desired expectations. Is this in line with the company's expectations and development?

Zhang Zemin: short-term performance should be combined with the specific situation of the company at this stage. In the first half of this year, the investment of new stores was relatively large, and these newly opened self operated stores could not produce any benefits at the beginning. The intensity of advertising has begun to increase this year, but the advertising effect will have a lag stage in the marketing performance. Some new brands such as Sophia are beginning to show growth, but some new brands still need further training. These are things that must be done in the first two years of a company's listing.

Investors should also have a long-term perspective on the development of listed companies. If a listed company is required to make substantial profits every day, it will not be realistic, nor will it be conducive to long-term development. Each enterprise is in different stages of development, and the results will vary greatly. Only after an in-depth understanding of the industry can we make an objective judgement of the company's performance.

According to the China Daily, in the first half of, 179 new self operated stores were opened in the whole country. Almost every day, a new self run store was opened. This expansion speed is faster than before. Can the company digest it? Will it adjust the speed of expansion in the future?

Zhang Zemin: the expansion rate of self operated stores has been improved since the listing. The current growth rate is not much different from our previous plan. From the current situation, we are not prepared to make any big changes. This year, 300 self operated stores are expected to open, and 400 to 500 self operated stores will continue to open next year.

By the end of the first half of the year, there were 1524 chain stores, 1099 self owned stores and 425 distribution outlets, and already had the brand effect on Saturday. The company's existing foundation can carry the current growth rate, and it can also control its capital and operational capacity.

The market space of women's shoes may fluctuate in the short term, but in the long run, the market space is still very large. There are more than 600 self operated stores on Saturday, and we expect to reach about 1500 in five years.

Brand promotion is the first strategy in the second half year

In the field of women's shoes, BELLE has more than 7000 stores, Daphne has more than 4000 stores. There are more than 1500 homes on Saturday. How do you see competition between them?

Zhang Zemin: Daphne's choice of channels is mainly based on street shops, which is quite different from our choice of channels. There is also a big difference between Daphne and Daphne's brand positioning on Saturday, so the main target customers are different, so Saturday and Daphne do not constitute direct competition.

The main brand of BELLE is very close to its brand positioning on Saturday, and there are many similarities in its business mode. Therefore, the competition between BELLE and BELLE can not be avoided. We are rivals in the field of business with BELLE, and we are friends in the field of business. We respect these competitors very much. Competition between them is a healthy competition. BELLE is the leading enterprise in the industry. It has advantages in terms of scale, capital, channels and talents. Our competition with BELLE will highlight the strategy of differentiation. We should be younger in product design, hoping to have a certain distinction from the brand logo.

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Zhang Zemin: we will focus on four aspects in operation: brand, product, channel and service.

Upgrading the brand is the first step. Because now there is a certain scale of store layout nationwide on Saturday. We can expand faster now, but at the present stage, we prefer to have a more open shop. Because there are still many uncertainties in the economy. We must keep the risk within control. In the first half of this year, we have invested in this area, and we will further intensify in the second half of this year.

The second is products. In the second half, we will pay more attention to the overall improvement of products. For women's shoes, appearance design is very important. At the same time, it will also focus on comfort and practicality. The company specializes in technology research and development departments, and is committed to improving the technological content of products. For example, at present, skid resistance is enhanced by the development of "anti slip expansion rubber". Through the development and use of water-based adhesive, the emission of benzene is reduced, and the products are more green.

The third is the channel. To ensure the quality of the store, we should maintain a relatively fast pace of development. The overall expansion will be implemented on the basis of the stock investment project plan. The reason for not expanding blindly is that we remain vigilant about the uncertainty of the market.

The fourth is service. We will start with front-line staff to improve the level and quality of training. The company has been working with universities to conduct special training for senior and middle managers. Next, we will invite different types of consultants to train some of their staff. This solution will be refined to the front-end designers and terminal display staff. We will focus on professionalism in training and increase the knowledge content. The final results will be reflected in providing better products and better services to customers.

More than 95% of inventory is within the biennium.

Analysts once thought that Saturday's share of inventories was too high and inventory turnover was too low. Can you tell us what the company's current stock situation is and what extent of inventory turnover is reasonable in your opinion?

Zhang Zemin: we have different views on the inventory problem. At present, the growth of inventory is largely influenced by the choice of phased business strategy. Moreover, the company is in the period of rapid expansion of stores, and the turnover rate of inventory will decline. This is normal. Inventory is far from affecting the normal operation of the company. At present, more than 80% of our inventory is less than one year's inventory, and more than 95% are within the biennium. The inventory of the above two years is rather small, and the inventory structure has improved compared with the same period last year. At present, the average stock turnover rate of women's shoes industry is about 2 times, and it has been adjusted for some time on Saturday. Fully capable of achieving this level.

How large is the proportion of products that are manufactured by outsourcing? Will this affect the design and production of products?

Zhang Zemin: at present, the proportion of the company's outsourcing processing is around 30%. Outsourcing processing can ensure the production of the products that the company needs, and it can also enable enterprises to have stronger ability to resist risks.

This industry model has been very mature, and the reaction is rapid, will not appear what you said. And for the quality of the product, there will be strict quality inspection process in the production process and the last company. The final product will still need us before boarding the rack.

Choosing fashion is a technology.

Fashion is very important for women's shoes industry. How to grasp the forefront of fashion on Saturday and provide the most suitable products?

Zhang Zemin: at present, the forefront trend of women's shoes in the whole world is always led by Western European countries. This situation will not change in the short term, and the trend of domestic counterparts is more following.

There is no need to avoid this and should make good use of it. For example, we will strengthen cooperation with some professional fashion design companies in Europe to enhance their design ability and fashion sensitivity. Today's social communication channels are so developed that fashion information is not lacking but too much. The key to enterprises is to make wise choices. This is a technology.

We have our own way to grasp fashion. On the basis of identifying the main elements and directions of fashion, according to the positioning of the brand's own style, it puts forward different development themes and product series, and carries out its own innovative design on this basis.

Saturday is famous for women's shoes. Have you considered making men's shoes?

Zhang Zemin: now we also have men's shoes, but the size of women's shoes is much smaller than that of women's. Because the characteristics of men's shoes and women's shoes are very different. Women shoes consumers are far more fashionable than men's shoes consumers. According to market statistics, sales of women's shoes are 6 to 7 times that of men's shoes. The two markets are not the same.

stay Design Both of them are far from the requirements and updating speed. The style and style of men's shoes do not have so many needs, and the range of change is relatively small. At present, the company's men's shoes are mainly concentrated in some high-end products.