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Textile And Garment Industry: Men'S Clothing Is Sound Operation.

2011/10/15 8:31:00 34

Win in the long run and win steadily: according to Euromonitor International data, the retail sales of men's clothing market in 2009 was about 377 billion 600 million yuan, accounting for 47.64% of the retail sales of clothing.

2004-2009 years, men's wear market

retail

The annual compound growth rate is 17.75%, the industry growth rate has always been steady, but net profit growth is obviously faster than revenue growth, and robust operation is the key.

Drawing on the successful experience of Hugo Boss and Ralph Lauren, most successful men's wear brands follow the following development paths: setting up brand - rapid expansion and preemptive share - brand extension, focus on retail - brand group, pnational operation and steady development.

The internationally renowned brand Hugo Boss and the RalphLauren brand of business leisure brand, a clear brand extension strategy, combined with the sophisticated terminal operation, have made the brand's global expansion and sustainable development. It has also become the domestic brand announcement bird [13.60 2.26% shares Research Report and seven wolves' learning list.

Domestic men's wear and tear will be difficult: relying on the vast domestic market and differentiated urban and rural consumption capacity, domestic

Men's wear

The brand enjoyed more than 20 years of rapid growth in the market, and initially formed the leading edge of brand and scale. Brand penetration and market share were higher than other garment sub industries, and the industry competition was increasingly fierce. With the rapid increase of channel costs, it would be difficult to rely solely on the preemptive share to achieve the growth of the brand.

The era of fine management is coming: we believe that the men's wear industry will enter the era of meticulous management. Brand extension and fine end operation capability will become the key factor in the competition of the industry. The men's clothing enterprises with the above advantages will stand out as the leading industry in the future.

To give men's clothing industry "leading city -A" investment rating: at present, the annual growth rate of the A brand listed menswear brand in the next 3 years is about 30%, corresponding to the dynamic PE25 times in 2011, the valuation is at a low level. Under the background of the slowdown in the consumption demand of the apparel retail terminal, the steady operation of the men's wear brand has certain defensive nature. We give the men's clothing industry the "leading city -A" investment rating.

We recommend the following two categories in the choice of the target of investment

Men's wear

Listed companies: (1) differentiated market positioning, there will still be larger market expansion space in the future, and the key recommendation is: Nine Mu Wang [24.17 -0.78% share Ba Research Report] and -0.05% [20.46 -0.05% share research report]; (2) companies with brand extension and sophisticated terminal operation experience are mainly recommended: Seven wolves and good news birds.