8 Clothing Companies Gamble IPO&Nbsp; Private Chase Hard To Conceal The Embarrassment Of Value.

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A comprehensive interview with the industry insiders pointed out that the threshold of the clothing industry itself is relatively low, and many companies do not have the core competitiveness of the listing, lack of stamina for sustained growth of performance. In addition, the core competitiveness of the brand clothing is more soft power, which is difficult to fully reflect from the operational data, which also gives the regulatory authorities the difficulty of judging its value.

For this type of listed companies, regulators should maintain a cautious attitude and support the listing.

Clothing companies get together and go public

In the 8 garment companies that have been queued up, they are Zhejiang Georges white dress, Jiangsu AB group, Jiangsu cloud bat dress, Ningbo Kaixin dress, noble bird, Shanghai La Natsu Bell dress, Hai Lan home dress and Wenger.

Among them, La Natsu Bell and Vigna S are in the initial stage of trial, Hai Lan home and George White have been pre disclosure, and the remaining 4 are waiting for feedback.

Industry analysts believe that the next 3-5 years, the apparel industry will enter a very fast growth stage, if the enterprise does not have sufficient financial strength, it will eventually become a small fish eaten.

Therefore, small and medium-sized clothing brands have been listed, the purpose is to strengthen their channels as soon as possible, make the brand bigger, and take a firm foothold in the fierce competition.

Taking Hai Lan home as an example, the reporter learned from the interview that the company is in the bottleneck stage of brand development.

Hai Lan's sales channels are mainly franchisees. At present, there are only 2 direct outlets, and all the production is outsourced to suppliers. The focus of the company's operation is on brand operation, product design and supply chain management.

However, with the rapid expansion of early channels, franchisees' management problems are becoming increasingly prominent.

Recently, reporters also visited 3 Beijing Hai Lan home stores, including two shops in Sanlitun and Dongdan.

According to the data disclosed, the unit area efficiency and overall sales volume of franchised stores in the past 3 years have been increasing continuously. However, the average annual growth rate of single store sales in 2010 and 2011 is 14.19% and 9.04% respectively over the previous year, showing a downward trend.

Some industry analysts believe that the embarrassment faced by Hai Lan's home is not a single phenomenon, and many garment enterprises are like this.

"The performance of most garment enterprises depends largely on the large scale expansion of the number of stores, but the decrease in the profit making of franchisees will directly lead to a slowdown in the number of new stores. At the same time, the strength of a single franchisee will restrict the layout of the core business circle of a second tier city, which will affect the sales scale and brand reputation, resulting in the loss of sustained high-speed development of some garment enterprises."

The source said.

Embarrassed by the embarrassment of value, the clothing enterprises that IPO was denied in 2011 were everywhere.

The reporter found that the lady's house was uncertain about the market prospects and profitability of the project. Shanghai leitrey, the agent of the Japanese brand uniqo, was significantly higher than the industry.

Garment enterprises IPO repeatedly rejected, in the two tier market, textile and clothing plate trend is also facing embarrassment.

Haitong Securities (600837, stock bar) industry tracking report shows that in the past 3 months, the trend of textile and garment sector is weaker than the market.

Haitong Securities textile and garment industry assistant analyst Yang Yijuan told reporters, "as a traditional consumer plate, the overall advantage of clothing enterprises is strong resistance in bear market, but correspondingly, in the economic boom stage, such enterprises will not increase too much than cyclical plate."

A senior investor interviewed by reporters also said, "textile and clothing stocks are difficult to have hype themes, and they feel very tasteless. Regulators should sell less stocks.

If I invest for a long time, I will choose more stable financial stocks. "

Generally speaking, the clothing industry is a typical consumer traditional industry with relatively low technical content. Even if the company is in good condition, its performance will hardly have a strong breakthrough.

Yang Yijuan believes that "the same type of listed companies abroad will encounter two bottlenecks in the development of sub brands, expand product lines and other means of operation. In the two development process, their stock prices will also increase significantly.

Therefore, the investment value of clothing listed companies can not be totally negated.

However, due to the relatively low entry threshold of clothing enterprises, the development of Chinese clothing (000902, stock bar) brand is still in its infancy. Regulators and investors should be very cautious when considering new listed companies, so as to pick out companies that are really strong.

However, in the view of Yu Fei, a private enterprise research expert, the listing of clothing enterprises has its own meaning.

"A lot of high-tech concepts are only staged hype, and the listed companies in traditional industries such as garments are relatively strong in anti strike capability. As long as the enterprises guarantee a balanced growth status, their value will not fluctuate greatly with the market changes."

As one of the clothing enterprises listed in the queue, the advertisement of Hai Lan home has covered the prime time of all media.

Statistics show that Hai Lan's home has 10 stores in Beijing, all of which are franchises.

In March 13th, reporters visited the home of Hai Lan's home in the Third Ring Road of Beijing, and 2 of the 3 stores were evacuated.

A store in Xinjiekou is a medium-sized one. The exterior decoration is slightly old. The interior clothing display is compact, and the clothing styles and colors are relatively regular.

However, Xinjiekou's similar men's clothing brand nine Mu Wang (601566, stock bar) feels good, the storefront is very big, the decoration is also very fashionable.

The shop assistant told reporters that this store is the flagship store of the company, which has better after-sale service than the store and franchisee.

The same grade of men's clothing brand seven wolves, mainly direct shop, there is a flagship store in Dongdan, reporters found that the direct store space is spacious, European style decoration, service quality is also good.

The shopkeeper told reporters that after the listing of the seven wolves, there are more and more franchised stores and fashion designs are becoming more and more fashionable.

By contrast, the reporters found that men's wear brands are often dominated by franchises before listing. However, due to the constraints of franchisee's financial strength, the brand lacks the layout and integrated marketing capabilities of the core business circle of the second tier cities, so it only hopes to be listed and financing, so as to vigorously expand the direct channel and achieve the win-win of brand value and performance.

(Long Wei)