Women'S Clothing Brands Are Competing For &Nbsp;

Grace

Xia Guoxin, chairman of the Industrial Development Corporation, once said that the company is planning to go public in 2011.

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On the evening of July 18th, the SFC announced that it would review the first application of A stock of Limited by Share Ltd in 22 days.

This means that after the listing of baozi international exchange in 2003 and the listing of Kaiser shares in 2010, the domestic high-end women's wear camp will reproduce the capital figure.

At present, the LANCY FROM 25, ZOOC and LIME FLARE of Rhine are the three high-end women's clothing brands, and the retail price of the main products is between 2000 yuan and ~5500 yuan.

The company said in its prospectus that it insisted on the pure women's clothing company located in the high-end women's clothing market. "Positioning in terms of quality, price and consumption crowd is similar to a few enterprises such as Baozi and Mass Phil," "the first group in China's independent high-end women's clothing brand."

From the financial data, because the high-end women's clothing brand has a higher gross profit rate than the general women's clothing brand, in 2008 ~2010, the gross profit margin of consolidated posture rose steadily, which was 50.82%, 54.47% and 56.71% respectively, and the operating income was 220 million yuan, 308 million yuan and 559 million yuan respectively, and the net profit attributable to the shareholders of the parent company was 37 million 645 thousand and 200 yuan, 62 million 381 thousand and 300 yuan and 123 million yuan respectively.

In the 3 years, the annual compound growth rate of operating income and net profit was 58.48% and 43.27% respectively, and the growth advantage was obvious.

Industry perspective

The appearance of listings undoubtedly touched the sensitive nerves of women's clothing enterprises. Who will be the next one?

Reasons for listing

When it comes to the listing of clothing enterprises, there are a lot of reasons:

It is beneficial to improve the proportion of self owned capital, improve the capital structure of enterprises, enhance their ability to resist risks, and enhance their development potential.

It is conducive to establishing a modern enterprise system, standardizing corporate governance structure, improving enterprise management level and reducing operational risks.

It is conducive to establishing a modern property right system with clear ownership, clear rights and responsibilities, strict protection and smooth circulation, and enhances the motive force of enterprises' Entrepreneurship and innovation.

It is beneficial for enterprises to establish brand, enhance their image, expand market effectively and reduce financing and paction costs.

It is beneficial to improve the incentive mechanism, and use stock option, stock appreciation rights, restricted stock and other equity incentive forms to attract and retain talents.

It helps enterprises to carry out capital operation such as asset merger and reorganization, make use of various financial tools, carry out industry integration, and become bigger and stronger quickly.

It is beneficial to enhance equity liquidity and achieve equity appreciation.

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The temptation of listing for entrepreneurs is real.

Most of the private enterprises queuing up all over the country are local competitive enterprises. They have a primitive impulse to the capital market. This impulse is not just the pursuit of money.

Since starting a business, the person in charge of an enterprise has regarded listing as an important index to measure the success of an enterprise.

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Stock market pain

But at the same time, the various kinds of imbalance and labor pains brought by the listing are obvious.

In China, more than 90% of garment enterprises are private enterprises, most of which are based on family management, which is not compatible with the rules of the stock market game used in capital market.

As we all know, shareholding system is the best mode suitable for the development of modern enterprises. The three powers of the board of directors, board of supervisors and shareholders' meetings can be separated from each other. They can supervise each other, develop democracy and bring into play the role of management team.

In the fierce market competition, only joint-stock mode of operation can enable enterprises to minimize all kinds of mistakes, and if they want to go public, they must carry out the shareholding system reform.

After the public offering is listed, the nature of the enterprise will be pformed into a public company. The company will have thousands of public shareholders. In order to protect the rights and interests of the public shareholders, the listed company must be subject to more stringent supervision, and the social responsibilities and pressure of the company will be greater. If it is to be supervised by the securities regulatory authorities such as the China Securities Regulatory Commission and the stock exchange, it will continue to be supervised by the intermediary organizations such as the sponsor agencies, and shall abide by the laws and regulations of the state, the regulations promulgated by the China Securities Regulatory Commission and the stock exchange.

In order to ensure the timely and comprehensive understanding of the company's situation, all listed companies must disclose the company's information in a truthful, accurate, complete, timely and fair manner in accordance with the securities law and the regulations issued by the China Securities Regulatory Commission. The company, its directors, supervisors and senior managers should ensure the authenticity, accuracy, completeness, fairness, and fairness of the information disclosure. There is no false record, misleading statement or major omission.

In mature capital market, the cost of equity capital is higher than the cost of debt capital. Investors buy shares of the company to obtain a reasonable return on investment. If the company fails to perform well and its performance is poor, investors will be abandoned.

All of these are the supervision of listed companies, which is directly handled by the listed companies. But the most unbearable burden of the directors of clothing enterprises is the subversion of the "one word and the hall".

After listing, the binding force of major shareholders will increase.

First of all, when a large shareholder participates in the company's management and decision-making, he must strictly abide by the company's corporate governance standards. Secondly, he must operate in a standardized way, not to encroach on the assets of listed companies, or to damage the rights and interests of listed companies. Once again, after the public offering and listing, the shareholding ratio of large shareholders will be lowered, and their control of the company may decrease.

Intensive cultivation shows itself.

The traditional Chinese women's clothing market has a large market space, and the total market capacity is hundreds of billions of yuan. But such a large industry is still in a very scattered state. There are not more than 10 brand manufacturers whose sales scale exceeds 500 million yuan, and the development space of famous brands is huge.

In addition, the market demand for women's clothing has changed rapidly and is relatively immature and dispersed. In China, this is the last complete competitive niche in the garment industry.

At present, it has been refined and refined for more than 10 years in China. It has been well known in the first tier cities and has established a very perfect marketing channel.

Jiuding's huge investment in women's clothing market is not the first time. At the end of last year, Jiuding investment had invested 50 million yuan in Zhuhai's Wiseman dress Limited by Share Ltd, which is now the largest knitting yarn production and operation enterprise in China and one of the most influential brand women's clothing enterprises.

As the largest garment manufacturing and consumption center in the world, China is currently undergoing fierce competition. More and more foreign fashion fast fashion brands, such as ZARA, continue to pour directly into China to compete for deer. They are trying to expand rapidly, occupy and guide China's mainstream market with huge sums of money. This will directly promote the development speed of women's clothing industry and make a big step towards the mature stage of the market.

At the same time, local women's wear brands are fighting hard to get more cake.

As a matter of fact, for Chinese women's clothing enterprises in traditional industries, many enterprises are facing great bottlenecks in the improvement and optimization of business philosophy innovation, product design innovation, channel terminal development, operation team building, operation and management upgrading, marketing innovation, brand building and competitive advantages.

Specialized or not specialized

Is he taking the lead in developing his main business, or is he developing a sideline with clothing as a cover?

At the moment, she is still an enterprise focusing on women's clothing.

Among the listed domestic apparel companies, most of them have diversified development except the seven wolves and the good news birds. Real estate, high-tech and equity investment are the main direction of development. Some of the original companies such as Hualian holdings, Shiqi industrial and Jiangsu Wuzhong have achieved the main business pformation, which partly reflects that some garment enterprises are not very confident in their main business development.

The shares are raised by about 850 million yuan.

According to the urgency, it will invest 587 million yuan in marketing network construction, invest 139 million yuan to expand and expand the production base in Beijing, invest 68 million yuan to design exhibition center, invest 55 million yuan for information system to improve construction projects.

In recent years, Beijing LAN Zi Garment Industrial Co., Ltd. has been doing well in business and has maintained a relatively fast growth rate.

At present, the company has established a standardized corporate governance structure and strictly operates in accordance with the powers of shareholders' meeting, board of directors, board of supervisors and management and management, so as to ensure the effectiveness and scientificity of major decisions. The company has established a ERP management system, which has effectively improved the management efficiency, and the company's production and operation is in good condition.

However, with the implementation of the fund and the implementation of investment projects, the scale of the company will expand rapidly, and the marketing network will be further expanded, which puts forward higher requirements for the existing management system and management personnel.

If the company's organizational management system and human resources can not meet the requirements of the expansion of asset size, it will have certain constraints on the development of the company.

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The next one.

Following the listing of the company, the industry is generally optimistic about it.

But on the timetable for listing, who will be the next speaker, waiting for time to answer.

As early as in March 25, 2009, the global private equity giant Carlyle Investment Group announced in Beijing that its CAGP focused on investment growth enterprises invested 150 million yuan in the market to marry the women's clothing brand, Jones, to plug in capital wings and form strategic partners.

This cooperation is not only a simple investment and cooperation in capital, but more importantly, through the establishment of a strategic alliance, the two sides will achieve superior resources sharing and mutual assistance in brand culture integration, marketing, human resources, business management and so on.

What he needs is exactly what Carlyle can give.

When he gets the money, he will set up a sound channel and service as soon as possible with the help of Carlyle, strengthen partnership, attract talents, increase product design innovation, build brand image and optimize monopoly terminals, enhance information technology and resources support, and optimize management. At the same time, Carlyle will continue to provide support and help to the global brand building, international resource integration and internationalization of Future Ltd.

This is how we can make the brand bigger and stronger, how to allocate superior resources, and how to achieve sustainable and long-term development of enterprises. We can achieve the global leading brand of women's clothing only by relying on our own qualitative leap.

At the Beijing Marriott Hotel Northeast hotel in Beijing, "ten years of Chinese clothing, brand and Strategy -- 2010 NetEase clothing Summit Forum", Xia Guoxin, chairman of Shenzhen Song Si Si Industrial Development Co., Ltd., also said that the song is planning to go public in 2011.

Xia Guoxin said, for an enterprise, listing or future listing is bound to have some restrictions, including the establishment of relevant corporate governance mechanisms after listing, which is subject to a lot of supervision.

"For us, our goal is firm, so we choose the future.

The first is the introduction of capital, which is as simple as that.

Public opinions are divergent

Xiong Xiaokun, the light industry researcher of China investment advisor in the threat theory: the brand positioning of long Zi, Baozi and Mars Phil are all high-end brand women's clothing, and the target population is all mature women. Therefore, it is a direct competition relationship, and the listing of the market is bound to pose a threat to Baozi and Mars Phil Zo.

Opportunity, said Li Jie, an analyst of Everbright Securities Industry: the domestic high-end women's clothing market is not mature enough, and there are not many leading enterprises. In addition, the women's clothing industry has fast updating and uncertain factors.

As the garment industry is a labor-intensive industry, the competition is fierce and the degree of marketization is relatively high. With the increasing attention and penetration of the international high-end brands on the Chinese market, the competition in the field of clothing will be very intense in the future.

Compared with the price advantage of international high-end brands and brand discount stores, the price advantage of China's local high-end brands is not obvious, and even in a more passive position in competition, especially in the first tier cities, this competition will become more and more obvious.

To build brand tree Jiuding Investment: the future of the brand will not only win more market share, but also integrate other brands through acquisition and merger, and pplant the experience of its brand operation, channel construction and supply chain management to a brand tree strategy.

Dream of Xia Guo Xin: we are not listed yet, we are preparing to go public, and what we want to do on the market may have different ideas for every enterprise, because listing itself is a means of doing business.

Some companies, if they want to be bigger, or even have some abnormal thinking, are trying to collect money. Listing may be a good way.

Some enterprises just want to do what they want to do, and do not want others to restrain. Others push me all the time. If they want to leave today or tomorrow, they will have to increase every day. I say I want to do what I like most, so I don't want to go public.

When he was founded in 1995, he had a dream that his dream was to become the best brand in Shenzhen.

After a period of time, I want to be the best brand in China. Now the best brands in China have not yet done so. They want to become a world influence Chinese clothing brand.

Our goal is to make a good brand. I want to focus on this goal.

Listing or not listing, it is probably very important for my goal to be easy to achieve or not easy to achieve.

I think that although these enterprises are not very short of money for us at this stage, there is a problem. If the enterprise wants to be a leading brand in the future, it will be better to make a Chinese clothing brand with world influence than money.