Wu Zhize, Chairman Of The Wedding Bird, Will Enter The Underwear Field.
Even from 3 private companies in Wenzhou
clothing
In 1996, the joint venture was founded.
Wedding bird
It has also been flying for 14 years.
Since 2007, with the help of the capital market, will the expansion of the company speed up? When will the new brand and multi series business that has begun to expand is expected to inject new vitality into the company?
With these questions, a special visit to the news bird group
Chairman
Wu Zhize, director of wedding bird.
He said that the company will steadily promote the development of multi brand and multi series business, and expects that the company will enter a new round of development cycle in 3 years or so.
Steady and steady development
Q: in the first half of the year, the number of news bird brands and San Jie Luo brand outlets, as well as the total sales area expansion rate of the company were slightly lower than the market expectations.
Will the expansion speed increase next?
Wu Zhize: we think dot quality is more important than quantity.
On the one hand, we insist on the strategy of opening large stores, and pay more attention to the single store area than the number of stores.
In today's business ecological environment, shopping malls are relatively strong, so the company has basically requested more than 500 square meters of large flagship stores in the past two years.
On the other hand, the company made a structural adjustment to the distribution of stores in the first half of the year. The number in the semi annual report is the net number of final net increase, and this adjustment will continue in the future to fully tap the performance of individual stores.
Q: San Jie Luo's brand development speed is obviously faster than that of the wedding bird brand. Is the company willing to comply with the trend of the rapid development of the casual wear market? Will it increase the investment in the San to roll brand in the future?
Wu Zhize: there are two completely different modes of operation: the birds of good luck and the San Jie Luo: the good birds are dressed positively and take the added value route; Saint Angelo is casual wear and fast moving consumer goods.
Western clothing market has been showing negative growth in recent years. It is not easy for us to win and achieve positive growth. Therefore, we must break through the value mining.
The rapid development of casual wear market is the current trend. Of course, the growth of the company's performance will be tied down in the next 2 to 3 years, and the casual wear market is also facing fierce market competition. But the market capacity of western style clothes is limited after all.
For specific input and expansion speed, we will go through further investigation and demonstration before making a decision.
If we choose to increase investment, we expect that the company will enter a new round of development cycle in 2-3 years.
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Q: how do you anticipate the future development of professional group buying business?
Wu Zhize: the first half of the professional group buying business picked up because of the bad market in the same period of 2009. The first half of this year returned to normal level in the same period in 2008. It is expected that the development trend in the second half of this year will be similar to that in the first half of the year.
In the future, the competition of professional group buying business will be fierce. The gross profit margin will be lower and lower. On the one hand, bidding will reduce profits. On the other hand, labor costs will rise faster. Our factories are in Shanghai and Wenzhou. The cost of living in these two places is relatively high, which makes the company face more labor cost pressure in a short period.
Now we are also looking for production bases elsewhere, but the pfer is not completed in two days. It will take several years to complete.
Exploring multiple products
Q: at present, the company is also developing leather goods series, testing water women's clothing series, and actively exploring underwear series and sports products. Please tell us about the development of these businesses and what they hope to achieve.
Wu Zhize: in planning, the news bird brand will include eight series, namely classics, business, leisure, leather goods, leather shoes, women's wear, underwear and sports.
Leather goods business has been launched since 2009, and the scale has expanded this year. Women's clothing business has been designed this year and is now on the way. Underwear and sports series are just beginning this year and are in the conceptual and design stage.
As a preliminary exploration, we have chosen dozens of stores to launch these series.
If separately calculated, these series need to wait for two or three years to perform financially, but on the whole, the cost of production and circulation is fixed, and these series can be said to be incremental.
Q: what adjustments have been made to the new business of EBONO e-commerce, CARLBONO advanced customization and so on?
Wu Zhize: these innovative businesses are still in the exploratory stage, and the company will take the idea of short-term contraction and long-term cultivation.
There is no successful precedent for the pure clothing e-commerce in the absence of shops. For us, store sales are still the main way of selling, but at the same time, e-commerce business will be gradually cultivated.
There is no problem in the mode of advanced customization, so how to copy it can be explored and studied.
We will adjust the outlets and plan to develop 10 outlets in Beijing, Shanghai and other tier cities in the future.
Q: in 2010, many clothing brands greatly increased the purchase volume or production volume of autumn and winter goods. The supply increased sharply and the demand grew steadily.
Why do you think this is happening? How will the company cope with the possible situation of competition?
Wu Zhize: no one in 2009 thought that China's economy had recovered so fast, so the clothing brands had slowed down a bit, and by 2010, they had been overweight.
Here are two proofs. First, we learned from the processing plant that most brands increased by 20% to 30% this year; second, the processing plant started in August.
Under normal circumstances, the annual growth rate of consumption demand is around 15%. How can we solve the excess supply? We are deeply concerned about this.
At the same time, we will not expand ourselves at the same pace, and we must make adequate preparations. In case of fierce competition and unsalable goods, we will implement some promotional schemes, which may lead to increased costs and reduced profits.
Of course, this year's clothing brands are losing. Next year, everyone will be cautious.
Internationalization must be pragmatic
Q: the third five year plan of the wedding bird is the development of multi brand internationalization. What kind of train of thought do we have for internationalization?
Wu Zhize: what I call internationalization is different from the internationalization of external understanding. I don't think it is internationalized to act as an agent for international brands or to open stores abroad. Internationalization is more reflected in business philosophy and operation mode.
For example, the news bird has grasped the international trend of internationalization.
Our design studio has been in Italy for two or three years, and more than 10 Italy designers are working for us. The main task is to collect local fashion colors and fashionable money, and learn the latest research and development information of fashion brands.
This year we plan to open a studio like this in Japan.
Q: in recent years, many Chinese clothing enterprises have sought to acquire foreign brands. Do they have such a plan or consideration?
Wu Zhize: we will take note of this opportunity, but with a more cautious attitude, we can not buy a burden for an international aura to take a big risk.
We hope to get some international brand agents in China or buy ownership in China.
If we can find similar projects that are complementary to the original resources of the company, then it will be very natural; if we can not get the right projects, we will not deliberately do it.
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