Saturday Holdings Seeks New Profit Points With Successful Brand Operation Advantages

Women's shoes, the first Foshan Saturday

Limited by Share Ltd (002291.SZ, hereinafter referred to as "Saturday") has concluded that the long-awaited acquisition of heppu (Tianjin) Footwear Co., Ltd. (hereinafter referred to as heap shoes) has finally been settled on the 14 th of this month: 264 million yuan won 80% stake in Hepu shoes.

Troubled by high inventory and poor expansion, the performance of Saturday's last two years has been unsatisfactory.

Many analysts believe that with the success of the brand's operational advantages, it may be a certain pull for Saturday.

D:fuse, the main brand of heppin shoes, was founded in Denmark in northern Europe and entered China in 2006. It is one of the few new brands that have successfully opened the Chinese market from scratch.

Heppo footwear has obvious advantages in its operation capability and brand building, product design and development and marketing.

At present, the number of heap shoes in domestic stores is 206.

In the first quarter of this year, the total assets of Hepu shoes were 122 million yuan, and the main business income was 42 million yuan.

Growth bottleneck

At the beginning of the market, many people were optimistic about Saturday, and the pcript of the past two years was not as bright as expected.

The gap between BELLE and 01880.HK is increasing.

Only comparing the earnings data can be seen.

On Saturday, 2011, the total revenue was 1 billion 348 million yuan, an increase of 22.46% over the previous year. Net profit attributable to the parent company was 99 million 444 thousand and 800 yuan, a decrease of 0.85% over the same period last year. In the first quarter of this year, the total operating income was 372 million yuan, an increase of 13.33% over the same period last year, and the net profit attributable to the parent company was 25 million 166 thousand and 700 yuan, down 1.84% from the same period last year.

In a quarterly report this year, the net profit in the first half of is expected to change from -20% to 10%.

BELLE International's revenue last year was 28 billion 945 million yuan, an increase of 22.1% over the same period last year, operating profit of 5 billion 265 million yuan, an increase of 32.9% over the same period last year, and net profit of 4 billion 255 million yuan, up 24.2% over last year.

What we have to say is high storage on Saturday.

At the end of last year, the stock amount was about 800 million yuan on Saturday, accounting for 39.13% of the total assets.

In one year, 615 million yuan was stored in memory, 42.51% higher than the beginning of the year, 146 million yuan for the first to two years, 27.45% higher than the beginning of the year, and 99 million 431 thousand yuan for the inventory over the past two years, an increase of 68.93% over the beginning of the year.

The total inventory turnover days reached 353 days, an increase of 43 days compared with 2010.

That is to say, it will take almost a year to sell the stock.

In its annual report on Saturday, it said that in the past two years, with the rapid expansion of the company's scale,

The total volume also rose sharply, which brought great pressure to the company's subsequent operation.

A clothing industry researcher pointed out that a fast start shop plan was launched on Saturday, 2010, and the stock grew faster. This is also one of the reasons for high inventory.

Looking for new profit points

On the brand strategy, especially in department stores, Saturday and BELLE are almost "close to each other". Almost every Saturday's brand is corresponding to BELLE brand: Saturday corresponds to BELLE, FONDBERYL corresponds to TATA, SAFIYA corresponds to Teenmix and MOOFFY corresponds to Staccato.

However, on the strategy of channel expansion and shop distribution, BELLE did not have a thorough coverage of the market level on Saturday.

At the end of last year, the total number of brand chain stores was 1961, representing an increase of 248 over the same period in 2010, according to the financial report.

This figure is much less than BELLE's stores.

In the market segmentation, BELLE's famous "tree like" channel layout is far ahead of other brands. At present, BELLE has also pioneered its own retail channel for e-commerce, and has become the "leader" in the industry.

Saturday's dependence on shopping malls is much weaker on the market.

CICC's latest report points out that on Saturday, the brands are mainly sold in department stores, and more than 75% of the existing stores are located in the second tier cities, but the market has become saturated.

Future growth needs to be explored through channel sinking and multi brand strategy.

In order to make breakthroughs in the three or four line market, improving the profitability of sub brands is the top priority.

At present, on Saturday, besides the flagship Saturday brand, it also operates SAFIYA and other sub brands.

However, these children

It has been mediocre.