All Customers Are Worried Behind The Challenge Of Going Public: The Core Mode Is Easy To Imitate.

The popularity of the "objects" that once swept the streets has not yet receded. The news that VANCL will go to the United States this year will spread like wildfire.

Media reports said that customers will go to the US for initial public offering (IPO) in the fourth quarter of this year. The maximum amount of financing will reach 1 billion dollars, which is expected to become the largest IPO in Asia this year.

At present, it is planning a new round of financing, financing at least $100 million, and the valuation of van worth has increased from US $1 billion last December to US $3 billion.

The clothing B2C company, which has an annual growth rate of 300%, has offered to buy LV, buy CONVERSE, and achieve 150 billion sales in 5 years.

Its founder, Chen, said in March that the sales target of all customers in 2011 will be 10 billion yuan. If sales in 2012 reach 30 billion yuan, it will consider listing in the second half of the year or the second half of 2013. But at present, it only focuses on expanding the scale.

At present, Wall Street is experiencing the most intense IPO tide of Chinese Internet companies in history. The second Internet bubble has been called by the industry leaders headed by Sohu Zhang Zhaoyang.

At this point, the sudden acceleration of the IPO process was interpreted by the outside world as a way to catch up before the bubble burst.

Attempt to "fish in the wings" before closing the gate

According to foreign reports, customers have appointed Citigroup, Goldman Sachs, Morgan Stanley, Credit Suisse and CICC in charge of IPO related matters.

In this regard, the guest public relations department expressed no knowledge, and Chen himself did not reply to our reporter's email.

Analysis commentator Wang Bin said: "the guest listing shows that e-commerce (e-commerce channel) is facing a shuffling period. There are many uncertainties in the management mode of the customer. Investors panic, worried about missing the best time to cash in; in addition, the arrival of the market tide, hot money surging, continuous loss, no profit model of several Internet Co can be listed, the opportunity is lost."

Zhang Zhaoyang also believes that at present the Internet is at a high point, valuing all customers will be high, and the listing will be more favorable.

But the recent performance of China's concept stocks in the US market has been "surprising", and the direction of the US capital market is abrupt.

Renren, netqin and Jiayuan, which have been listed, have been declared broken, which will affect the valuation of customers.

Hong Bo, a senior Internet expert, believes that it is too impatient for anyone to choose to go public at this time. "Listing is not the most important task for everyone at present, and the most important thing to do is to do mass work, and the sales volume of 30 billion yuan will make the company achieve a good profit point".

Senior media people Yin Sheng analysis said, "(Van guest) to the current scale of further business uncertainty increased, institutional cash in the impulse is strong, but also want to have a break with the IPO of the distance, so the first four quarter."

According to the latest quarterly monitoring data from the Analysys Research Institute, the scale of China's online retail B2C market reached 47 billion 100 million yuan in the first quarter of this year.

Chen Shou Shou, an international analyst at Analysys International, predicted that more B2C companies will catch up with the hot market in the US this year, bringing more capital to China's B2C and more hot money.

Sun Qian, vice president of Sequoia Capital, even said that e-commerce has become the most frantic financing industry. "Although the domestic e-commerce companies really earn only three or four, the amount of financing has exceeded 2 billion US dollars".

But an insider close to fan believes that there is no bubble in e-commerce. "With the deepening of the Internet application, the penetration of the new economy (including population base and market space enhancement) does not mean that it will be possible to accommodate several companies, even if there are dozens of hundreds of them."

Chen Shousong believes that the electricity supplier industry has entered the era of burning money, the completion of IPO or financing enterprises, more efforts to invest in logistics, back-end systems, customer services and other construction, in the long run will enhance the industry competition threshold, forming a monopoly trend, the gap between the business giant and small and medium-sized electricity providers is more and more obvious.

Electricity supplier shuffling period approaching {page_break}

E-commerce is already a red sea, the bubble has become apparent.

Taobao has continuously increased its investment in B2C mall to ensure the status of "big boss". Jingdong mall has expanded rapidly, announcing 30 billion sales this year; its own brand of fan and dream bazaar gradually won good reputation; the new buyers such as good Lok, Lok Tao, and early cut are rapidly rising.

Ni Zhengdong, founder of the Qing Ke group, believes that the golden age of e-commerce has passed, and the opportunities for small and medium businesses are getting smaller and smaller. "We have adjusted our strategy, and no longer focus on the early investment of e-commerce."

At present, clothing has become the first sub area of e-commerce.

Mcglaughlin has been on the market, and Jingdong, the "selling computer" and the "selling book" will also make efforts in the field of clothing, as well as the new entrants of masa Marceau, Wei cotton and Chu Chu.

The competition pressure of customers is not small.

Chen said that the global capital market's optimism for China's e-commerce industry is beyond his expectation.

"From the second quarter of 2011, the domestic B2C market will face fierce competition and shuffle. It is sure to fight like a river of blood."

He said.

In order to meet fierce competition, customers have invested heavily in advertising, logistics, mobile Internet and other fields.

Han Han and Wang Luodan are invited to be the brand spokesmen in a high-profile manner. They invest huge quantities of advertisements in the bus, subway and media of the first tier cities, and launch the social marketing platform "all customers and people". By the end of 2011, there will be nearly 30 storehouses in the whole country, with a total area of 500 thousand square meters.

At the same time, self built logistics, such as Feng Da, as the last mile distribution guarantee, has opened 28 cities, with more than 5000 employees, and the proportion of self built logistics has increased to 60%-70%.

In order to expand

Developing hidden trouble

Despite the rapid development of the "rocket speed", the outside world has never stopped questioning fans.

Worry about customers

Fan said that the advertising quota in 2011 amounted to 1 billion yuan, and it was expected to sell 100 million garments.

This means that the advertising and marketing expenses of each customer can be as high as 10 yuan, which is not a mere "luxury" advertising fee for the price of only 29 yuan, 69 yuan, 99 yuan and so on.

On the other hand, the price of online advertising is still rising. The price of online advertising has generally risen by 30%. The strong media such as portals have even risen by 40%-50%, or will become the unbearable pain of e-commerce enterprises.

In response, everyone responded by saying,

Van guest starts from imitation PPG, both rely on advertising support to make a living.

The "advertising + low price" can not be convincing. Insiders believe that there is no experience in online retailing, product development, store operation, commodity management, supply chain management and so on, which will be followed by PPG.

But Chen believes that customers prefer the Internet rather than expensive TV advertising in advertising and marketing, and self built logistics is totally different from PPG outsourcing logistics.

"Most consumers will choose to pay cash on delivery. If logistics is outsourced to third party express, the withdrawal of funds will result in an account period. Once there is a delay, a blow to a start-up company will be fatal."

In response to the challenge of overspending, the old responded, "at this stage, customers are still in the stage of market expansion, and the investment in advertising and logistics is the necessary input of" large-scale campaign ".

Chen Shousong thinks: "all customers are brand players who are built through Internet channels, and have strong control over the users. However, online channels and product terminals are easy to opportunistic. The research on clothing products and the ability to judge the market are certainly not as good as YOUNGOR. Many people say that many of its designs are plagiarized, because it is fast food, and it will be weak in terms of ideas and culture."

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"The way that the customers go is too low. Dozens of dollars give people the impression that they are selling goods, and spend a lot of money on marketing, but positioning is cheap, making profit margins too small."

The famous Internet expert analyzed by Ming.

Some analysts even believe that the core of the customer service mode is capital and advertising, but it is not the core competitiveness, and is extremely easy to imitate and surpass.

"Everything can be copied, only the brand can not."

Chen said that from the very beginning, customers should make a brand rather than a simple platform. In the future, they should create a high cost performance fashion brand. "But high performance price ratio is not cheap, and there are so many things on Taobao that are cheaper than us."