Dalian Clothing: The Successor Is Not Easy To Hand Over.

The proposition of inheritance seems to be very simple to the ordinary people: fathers have created an industry, and it is perfectly natural for them to inherit their father's business. The two generation born with the golden key should not be a successor of the enterprise in a logical way.

However, the onlookers are clear.

When the reporters really approached these entrepreneurs and their children, it was discovered that when the young 70 or even 80 had already had a good educational background and knowledge reserves, the two generation could not understand nor understand why their parents had to work so hard. Their parents could only earn a small profit accumulation model from the labor-intensive garment manufacturing factories, and they yearned for the "big money" and "free and casual" jobs such as stocks, investments and creativity.

More emphasis on self-awareness of the younger generation may require them to see a more intelligent mode of wealth creation.

To be sure, this is not just a problem for the clothing industry in Dalian.

Over 9 generation entrepreneurs in Dalian's clothing industry will soon or have reached 50 years old. The proportion of children participating in business management is less than 30%.

The two generation can not understand and understand why their parents should live so hard.

From the bottom of their hearts, they despise the accumulation of wealth that their parents can only earn small profits from manufacturing factories.

They yearn for these "big money" and "free and casual" jobs such as stocks, investments and creativity.

How to get out of this "bureau" is probably an equation with no unique answer.

Since the early 80s of last century, the garment industry in Dalian has gone through more than 30 years. Now, it has been or is experiencing two changes.

Dominated by foreign markets

This is not a simple proposition.

Especially in the complex industrial chain.

Whether the handover is successful or not is often the key factor determining the continuity and development direction of an enterprise.

However, problems such as future generations unwilling to take over or inability to take over are troubling the first generation of entrepreneurs.

How to get out of this "bureau" may be an equation with no unique answer.

Worries of no successor

"My son has told me clearly that he will not inherit my business."

Wu Jun (a pseudonym) has removed several requests for reporters' interviews because he did not want to see "dirty laundry".

After a few rounds of thinking, he finally agreed that the reporter had hidden his name and published the report, hoping to present the most authentic inheritance problem of the clothing industry.

Wu Jun's son has been in Australia for five years. After his graduation, his son found a job in a financial institution.

In his view, his father worked hard for half a year, and the output value of a year may be nothing more than the annual income of those excellent traders in his institution.

"What color do you have in your life when you put all your energy into it?" this is what he used to refute Wu Jun when he urged his son to inherit the estate. This sentence made Wu Jun speechless every time.

Looking at the country, the worries of the garment industry are no longer small enough for Wu Jun, a small business owner, to those famous clothing predators.

A fashion designer who worked in many garment enterprises in China told reporters that Lin Congying, chairman of the nine year Herdman, who was in his prime of life, was also troubled by the inheritance of the family industry.

The ideal retirement time he set himself was 58 years old, exactly the 40 year of King nine.

But what made him headache was that four of his children, three of whom studied in the United States, studied in England, and studied economics, finance, accounting and so on.

"They were so tired when I was young, they felt scared and felt very tired."

Lin Congying once publicly said in the media that he could not force his children to do what they did not want to do, because he was worried that he would lead the king of nine herd to an unknown future.

In his family, he could not find a man with enough ability to inherit his hard work. "The possibility of 80% of the king's future is to be taken care of by professional managers. Of course, I do not rule out that I will sell it or merge with others."

"Forest trouble" is quite common in China's small and medium-sized garment enterprises, especially those clothing enterprises whose assets are small and their parents are still struggling for the survival of enterprises.

{page_break}

"When I chat with some clothing business owners, I often hear their complaints that their children are totally not interested in their clothing business, and think of their hard working enterprises without succession. These bosses feel that life is getting gloomy."

A government official who has worked with enterprises for many years in the clothing industry of Dalian told reporters that because their parents had accumulated some wealth, their children mostly lived a superior life from childhood. The two generation could not understand nor understand why their parents had to work so hard. They looked down from their hearts on the wealth accumulation pattern that their parents could only earn from their manufacturing factories. They even yearned for the "big money" and "free and casual" jobs such as stocks, investments and creativity.

Successors select problems

At the age of 60, it is the retirement time assumed by many clothing business owners, but a very real problem is that business owners are busy with all kinds of events in the operation process before they are 60 years old, so it is hard to find time to plan succession problems. When the time comes, they will start to rush around, which often leads to a series of problems.

Passing the industry on to children is the most common way of thinking for Chinese people.

But the question is, who should be passed on to the larger families with more children? How much wealth is pmitted? It is a thorny issue that keeps cutting and messing.

A female boss of a clothing company who did not want to be named told reporters that she is now 53 years old. She thought of giving the factory to his eldest son for a few years. But now the two son began to make trouble with her. The two son did not want to work in the factory. He wanted to run a IT company, but he wanted to split half of the shares from Columbia.

Thinking of these things, the female boss was very worried.

What she fears most is that the two sons' frustrating will cause her hard work to fall apart.

The boss's worries are not unreasonable.

In the history of clothing development, the struggle for heritage often leads to the collapse of a family business.

The international luxury goods Gucci is a typical example.

This is the same with international brands. What's more, the development of Dalian's clothing industry is only 30 years away.