LAN Zi: Bring The Regional Advantages To The Whole Country.

In August 30th, I had a good time before.

Company IPO plans to raise 851 million yuan, actually

Although the price earnings ratio of the company has been 57.38 times, it has not lost the enthusiasm of investors. It has become a popular new stock market in the near future.

The firm, which has just been in the capital market for just four years, is considered to have multiple value investment highlights: uniqueness.

Difficult listing of women's wear stocks

In many textile and garment enterprises

In April 20, 2011, the Shandong sulang clothing and accessories Limited by Share Ltd was listed on the list; in April 22, 2011, Shanghai's Piri Swiss dress will be denied by Limited by Share Ltd; in May 6, 2011, Zhuhai's dress will be cancelled; July 18, 2011 will be denied.

3 days later, in July 22, 2011, the shares of Langer group successfully broke the pattern of military annihilated and got the tickets of the Shenzhen Stock Exchange's small and medium-sized board.

Vigna S and Lancy's shares will be very different from each other's feet. From the prospectus of the two prospectuses, there are some differences between Langer and Wien Nash. Vigna S's brand is self described, and high-end brands can compete against international brands. Gnas's business model is mainly self run and affiliate, while Langer is self-employed and distribution. Vigna S's positioning is lower than that of Lancy, but gross margin is higher than that of Langer, the former gross margin is 70% (which raises doubts about the persistence of profitability), while the latter is 56%.

In addition, PE has no entry to the company. Before the listing of Langer, there was a PE led by Jiuding investment. Zhou Yuan Jiuding, bridging Fu Kai, de Rui Heng Feng and long Bai investment held 3.85%, 0.77%, 0.38% and 0.38% shares of the group respectively, laying the cornerstone for its smooth listing.

He did not include Vigna S in the competition. In describing his competitors, he said his main competitors were baozi, Mars Phil, white collar and Mu Shi international.

The high-end women's clothing investment target not only aroused investors' interest, but also excited the textile and apparel analysts of the securities companies.

3 years of growth into the top 5

Everbright Securities believes that the annual retail volume of women's clothing market is over 300 billion, with huge capacity and low brand concentration. It is a test ground with sudden emergence. It has great opportunities to have the advantages of channel first entry and multi brand operation capability. The strong funds raised by the listed companies provide support for the later stage marketing network construction, and the high growth of enterprises can be expected.

It has 308 sales terminals in more than 80 large cities in the 29 provincial administrative districts, and has initially established a nationwide sales network.

As the single brand coverage and market segmentation is limited, the three major brands are positioned separately: mature, elegant, graceful, exquisite, Rhine, and fashionable personality. The three brands cover 18-55 year old urban women.

The fund-raising of investment funds will be targeted at four projects, namely, "marketing network construction", "expansion of Beijing production base", "design exhibition center construction" and "information system improvement". According to the chief executive of LAN Zi, the construction of self owned stores with higher gross profit margins will be the focus of operation.

At present, the PE of textile and clothing is 22 times, of which the home textile sub industry is relatively high. The positioning of women's clothing is generally considered to be higher than the average level of the industry. In 2010, the profit of PE is 57 times higher than that of PE, while the 2011 of the latest profit level is only about 30 times.

The leader of the industry has been developing for less than 5% of its market share in the past 20 years. The growth of 3 years has been among the top 5. Its stock management is steady, its design capability is improved, and the terminal expansion is speeding up. The valuation of 30 times is in line with market value.

Alan's initial performance in the capital market did not obscure the market's doubts and concerns about the long-term development of the new star.

Although the market share of women's clothing brands is not high at present, the market size of high-end high-end products is less than one billion.

A strong hand is like a forest.

Demographic dividend and the slow growth of competitors provide an opportunity for high-end women's clothing.

However, the same analysis shows that the market coverage and size of the market are also difficult to break through. The company's operating income in 2010 is only 559 million yuan, of which the net profit attributable to the owners of the parent company is 123 million yuan.

Chen Jun, deputy general manager and chief investment officer of Shanghai silver sand investment, said that she knew that women did not have a high degree of recognition and recognition of the brand. Moreover, female consumers tended to be more interested in buying styles and less loyal than men. Therefore, men's clothing is easier to make national brands and easier to grow.

Women's clothing is more regional brand, not easy to grow.

A fund company personage analysis, long posture occupied the demand temporarily not satisfied with the market segments, stressed the design quality, along with the two or three tier cities rich class rise and high-end shopping malls increased, through the channel expansion, maintain medium term high speed growth no problem.

But in the long run, the brand depends on the place of operation. Its reputation and brand added value are not high. If it can not enhance the value through the operation of a strong brand, it will be replaced by a strong foreign brand.

In her brand statement, she also mentioned that she is facing not only the competition of the domestic women's wear industry, but also the positive challenge of the international brand.

The competition of clothing brand enterprises is becoming more and more intense. The development of international brands and domestic leading companies in the first tier cities and the speed of sinking in the two or three line cities are obvious to all.

The analyst judged that the development of high-end women's clothing brands based on business premises but not attached to business premises should not be a problem.

However, there are at least two major problems to be solved when he wants to grow into a high-quality company in the capital market: first, how to bring the dominant position of Beijing and other places to the whole country and truly become a national brand; two, how the existing team should deal with the challenges of the future national layout and the challenges of peers.