A New Round Of Capital Forces Involved In The Competition Pattern Of Men'S Wear Industry May Change Significantly

domestic Men's wear brand Behind the fact that enterprises are seeking to go public, the competition situation in this field is becoming more and more severe. With many international brands and large domestic garment enterprises targeting the Chinese men's wear market, this competition is not limited to a single aspect such as brand, price, channel and capital, but increasingly reflected in the competition of overall strength.

In this case, seeking capital market support has become an indispensable means to open the gap, gain the first opportunity for development. Embrace capital and actively go public is the only way for garment enterprises to seek greater development when they reach a certain stage of development, and is also an effective way for mature garment enterprises to implement capital strategy.

With a new round of capital intervention, Men's wear industry The competitive landscape of may change significantly again. For many first-line men's wear brands with a current business scale of more than 23 billion yuan and a small gap in brand influence and channel coverage, this round of listing is no different from a new starting line. Only if you get the qualification can you lead the race.

However, in a sense, listing is just a ticket. In the face of more complex internal management, channel sinking and resource replication capacity after listing, how should local clothing brands respond? Can the hot market give birth to the local Giorgio Armani and Pierre Cardin? It still needs time to test.

　 Listing is not the end point

Once upon a time, the brand Clothes & Accessories It was once considered the patent of women. But today's tasteful men, especially most of the elites in the workplace, are becoming more and more concerned about matters related to their own image. Compared with women's impulsive clothing consumption, relatively small amount of money, lack of loyalty and other characteristics, men pay more attention to the brand and quality of fashion consumption, pay more attention to the fit of temperament and taste, and are not sensitive to price - for enterprises, this is the most critical. According to data, the total retail sales of men's business wear market in China in 2009 was about 206.78 billion yuan, and in 2010 it exceeded 230 billion yuan, far exceeding the market performance of brand women's wear.

As a piece of land with relatively good growth and development environment for the clothing industry, the prospect of business men's clothing has attracted the keen attention of capital. In 2011, the retail sales of Chinese men's wear market reached 390 billion yuan. However, this is still a semi wild land under competition.

The data shows that the total market share of the five listed men's wear companies with the largest retail sales in 2009 does not exceed 10%, the top three companies in the industry do not exceed 5%, and China Lilang, the industry leader, only accounts for 2.16%. The problems such as low brand awareness, single category and serious homogeneous competition are very prominent. In contrast, the international men's wear market, most of them have been concentrated in less than ten major brands, such as BOSS, Giorgio Armani, CK, Hermes, Dior and GUCCI.

For a long time, the homogenization competition of Chinese men's wear brands and even the whole clothing industry has been very fierce. Since 2010, driven by rising costs and brand upgrading, men's wear enterprises have shown unprecedented enthusiasm for listing. But enthusiasm alone seems difficult to move the market and regulators. The disillusionment of the listing dreams of Jinba, Qipai and Norge is enough to show that men's clothing brands still need to practice.

The purpose of men's wear brands seeking to be listed is to strengthen their channels and expand their brands as soon as possible, so as to gain a firm foothold in the fierce competition. However, as far as the current situation is concerned, many companies do not have the core competitiveness of listing and lack the stamina of sustained growth of performance. Among them, the decline in inventory turnover and the lack of core competitiveness have become the stumbling blocks for many clothing enterprises to go public. Due to the rapid decline of inventory turnover rate, the sales risk and financial risk of enterprises are directly increased, which also leads to the IPO of clothing enterprises facing great challenges.

The reason is that the traditional business model of "production outsourcing+direct stores, franchise stores" has led to the general weakness of enterprises' R&D and design capabilities, marketing channel construction and management capabilities. In the whole clothing industry, the brand clothing enterprises in the retail terminal link have the largest profit space, and their profitability, cost transfer ability and anti risk ability are the strongest. However, the current men's wear enterprises generally lack a comprehensive balance between speed and efficiency in the process of building marketing channels. The channel construction is too fast, which leads to tight capital chain from time to time. The profitability of single store needs to be improved. For men's wear enterprises to be listed, their own management ability and resource replication ability will become the two key factors determining the success of IPO.

At the same time, for the growing domestic men's clothing retail industry, external competition is becoming increasingly harsh. With the continuous segmentation of the market, the competitive pressure from domestic and foreign competitive brands will continue or even increase. In such a situation, how will Chinese men's wear brands respond? Can the hot market give birth to the local Giorgio Armani and Pierre Cardin? At present, we still need to explore in depth.