The Secret Behind The Number Of Clothing Tycoons Over The Internet

It is said that the Internet is fast growing, but not necessarily traditional. industry You can get rich quickly. The clothing industry is the most traditional industry. In 2011, Forbes, the top 400 of China's richest list, brand. clothing There are 18 richest people, more than 13 of the Internet.

Among them, Semir The costumes of Qiu Guang and his family and Zhou Chengjian are ranked at the top of the list. They rank tenth and twelfth in 30 billion 690 million yuan and 28 billion 130 million yuan respectively, compared with the Ma Huateng of the Tencent empire. In addition to Liu Qiangdong, Lei Jun and Zhou Hongyi, the top figures on the Internet are mostly old faces, and the top 7 in the clothing industry are new.

In addition to the overall scale, Clothing industry The prosperity of the rich is also amazing. For example, the company, which specializes in the three or four market of the youth casual wear, was registered in December 2005. Its capital was only 5 million yuan in December 2005, its operating income was 113 million yuan in 2007, its net assets were only 48 million 84 thousand and 400 yuan, and its revenue reached 633 million yuan in 2010. The listing made Ma Hong, the 43 year old founder, ranked 267 in the price of 4 billion 220 million yuan.

Perhaps the most talked about garment industry is the so-called "light assets" mode of production outsourcing, that is, brand operators independently design and research products, take all outsourcing or outsourcing mainly in product production, and combine franchising with direct sales in sales channels. This mode makes clothing enterprises more like a ditch companies and a commercial company. The performance can be networked with the increasing number of shops, and it is not subject to the constraints of capacity and fixed assets matching financial resources. It will not be attractive to capital market.

An important feature of such "light assets" companies is that the current assets mainly consist of monetary funds, receivable items and stock accounts for a large proportion of total assets. Take search for special case, for example, the total assets of 73 million 690 thousand and 100 yuan in 2007 were only 1 million 200 thousand yuan in long-term assets. In 2009, before the listing and financing, the proportion of current assets in total assets was 84%. In fact, most of the clothing companies that focus on the leisure activities of young people (see chart two) and sports Brand Company mostly do. For example, the United States apparel, in 2010 total assets of 9 billion 467 million yuan, the non current assets of 2 billion 302 million yuan; Semir clothing 3 billion 329 million yuan total assets, non current assets is only 706 million yuan.

Earlier, some people thought that such companies as Mei bang, Semir and searet represented a new generation of ethnic groups. The former clothing companies such as Shanshan stock, YOUNGOR, Dayang creation, and open industries were the products of the industrial age. Although they had the most advanced production lines, profitability was reflected in the process of production and production, but the number of machinery and equipment decided the profitability of these manufacturing companies. The growth of performance was mainly driven by more large-scale investment in machinery and equipment, and it was difficult to show rapid growth.

There is no doubt that if the heavy asset clothing enterprises are doing OEM processing, they can only get the lowest profits of the industrial chain. But is the "light assets" mode representing the mainstream of the new listed garment enterprises? In fact, the manufacturing sector is still retained by quite a few companies in the relatively high-end clothing field on youth leisure and sports.

For example, in May 2011, the business of "King Mu" listed in May 2011 was vertically integrated, which covered all aspects of men's product design and development, production, marketing, promotion and retailing. The products were mainly made by self-made production, supplemented by processing and production. In August, the stock of Rand, which was listed on the market, was used for the expansion and expansion of the production base of the city. Compared with Semir, the proportion of current assets in such assets is much smaller (see chart three). Coincidentally, the new list of clothing tycoons, such as Qipai, Jin Ba, Ya Ying, and so on, mostly also emphasize the layout of manufacturing business, such as Qipai announced in 2010 that it invested 320 million yuan to expand production facilities.

"Light assets" or "heavy assets"? The 18 garment tycoons listed on the list are delimiting the age of the target group. The general rule is that the younger the fashion group is, the more inclined to the "light assets" mode. As the age of the target group grows, the assets structure seems to be getting heavier. One possible explanation is that the relatively high-end clothing brands have higher quality requirements, while the demand for fast response to fashion is not so urgent. The retention of manufacturing capabilities is more important to the supporting role of brands.

Even the light assets company, Anta sports Ding Shizhong has explained the significance of the manufacturing link: a manufacturing brand can make more accurate estimation and measurement of the quotation of the agent. Besides, clothing has a strong seasonality, and has its own production capacity. It can quickly adjust the product strategy according to the market changes, and some products with technical barriers can be directly completed in their own system. It is worth noting that in the manufacturing process of fabrics, accessories and garments, etc., MP still uses outsourcing OEM, but its channel links are becoming more and more serious. In the 2 billion 300 million yuan of illiquid assets, 1 billion 62 million yuan is investment real estate.