Interview With Ruijin Lin COO Qu Feiyu

Qu Feiyu said China Clothes & Accessories The electricity supplier has gone through three stages: the earliest time is 2007-2009 years, the traditional many front-line brands and the stock enterprises are throwing the goods online; in the second stage, most Chinese clothing enterprises and brands still fail to solve the problem of the supply chain of the back end of the electricity supplier, or a large number of stocks and stocks are mainly on line; the third stage must be in the fast response supply chain mode, and the fast response supply chain mode is "fast fashion".

At present, Ruijin Lin focuses on two industries: fast selling and clothing. The core feature of the two industries is fast turnover and high frequency of consumption, so the user's viscosity is high. Next, Ruijin Lin will focus on the core category and strengthen its core competence in the value chain.

Below is Qu Fei Yu Interview record:

Reporter: Hello! What is the main purpose of our meeting this time? What kind of information do you want to get?

Qu Feiyu: our Ruijin Lin company is one of the members of the whole North China Council. We are also one of the co organizers. I think there are two purposes.

First, we are the co organizers of the conference itself.

Second, as we all know, the development of e-commerce has reached a relatively mature stage, the stage of rapid development, so the development and business of the entire business of the electricity supplier is more inclined to an ecological chain. No company can say that everything is done, so we all need everyone to have their own expertise. Therefore, in fact, as a fully operational and trusteeship whole service company, we also want to have more exchanges with every company with expertise and colleagues from all walks of life, so this is mainly a problem.

Reporter: do you think you have just said that the development of e-commerce is relatively mature, but do you think that from the perspective of clothing business, its development is also very mature, and what problems are facing?

Qu Feiyu: in the early days when I was doing business planning in Lining, in 2009, I think that the development of China's clothing business operators can be roughly summed up as two big stages, and now it has reached the third stage.

In the first stage, the earliest time is that many traditional brands and stock enterprises are dumping goods online. This stage is probably 2007-2009 years. At that time, Taobao was relatively small in traditional brands. At that time, these traditional enterprises were relatively simple to do inventory. Because at that time, relatively few products, mainly low inventory structure, low price structure can actually have a good sales volume, then I think this is probably the first stage.

The second stage, with the increasing number of traditional brands entering Taobao and the supply more and more abundant, we have reached the second stage. At this stage, we find that even if you have stock, you are not a good player on Taobao. At this time, many traditional brands began to think about how to do online business. At the same time, we have developed brands from Taobao's own Amoy brands, which have solved the problem of back-end supply. At this time, their business can reach hundreds of millions of scale. At this time, the traditional brands also felt the pressure of competition. Then, with some guidance exchanges between Taobao and this industry, they began to exert themselves in the supply chain of the back end. For example, like the European dress in women's clothing, in fact, it can achieve online and offline products and goods on-line cycle is synchronized, and the price strategy is synchronous. At this time, when consumers come to this shop to buy, she can not feel this is a discount store, she is willing to shop and sell in this shop. At this time, many traditional brands began to focus on solving the problem of supply chain, clothing supply chain and product problems in the back-end, I think this should be the second stage.

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But now it seems that most Chinese clothing enterprises and brands still do not solve the problem of the supply chain of the back end of the electricity supplier, or a large number of futures and inventory goods are mainly online. I think this should be the second stage of dress development.

In the third stage, you may now know that there is a noun in clothing. Fast fashion "Or people in clothing circles will know that supply chains are called quick reactions. As we all know, some brands, such as ZARA and H&M, have already entered the Chinese market online. So the third stage I want to talk about is actually what I want to talk about, and these brands will be related. I think the third stage of the development of Chinese clothing business is definitely in the fast response supply chain mode. With these brands joining, what are their characteristics? They have a large number of shops open online, and thousands of square meters of shops have a large number of SQ displays. You can imagine that they are three to five times the order of Chinese traditional clothing brands, so their supply chain reaction speed is very fast, and they can be done weekly. So this is an order of magnitude that many Chinese traditional clothing enterprises and brands can not achieve. This is the third stage. For many clothing brands and enterprises, we must compare products and supply chains.

For example, China's traditional clothing enterprises and brands need to find their own way out. Where is the way out? I think they should be based on their own resources and conditions. There are several categories. I think one of them is a brand with a high reputation under the traditional online. Whether you are a man or a woman, if you can't do the same as fast fashion, you need to find your brand positioning on the focus of the crowd. That is to say, you have to find your unique style and tonality. I think this is the first brand.

Second, under the premise of brand, there are some enterprises and brands, such as factories may have some second-line brands, they are not particularly famous, but they may have good products and popularity. They may have their own advantages in some small categories of products. So I think these brands and enterprises need to do well their core products and products. Because in fact, as we all know online, consumers at this stage, the quality of products is in the context of product homogenization, but the relative premium and quality of products are more important. So, I think this is the quality of the product. For some enterprises with resources and basic conditions, strengthening the whole system and establishing a fast response supply chain system is a step for the traditional clothing brands to do business. I think this is the third stage. This is my opinion.

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Reporter: when Rui Jinlin is providing services for enterprises, which stages or service items do we have in mind?

Qu Feiyu: I can briefly talk about the business of our industry. Our company focuses on two major industries: fast marketing and apparel. Why do we focus on these two industries? First, we first served COFCO as a big group and brand. From this project, we accumulated experience of fast selling the entire electricity supplier's operation and service. This is also a relatively advanced position in the industry, and it has an innate superiority.

Second, from our clothing, it is also very organic. In our fast fashion women's clothing, we have accumulated a brand like Forever21, laying the position of our women's clothing Benchmarking Project. So, this is the first one. We have such a benchmark enterprise nuclear program.

At the same time, based on the core characteristics of these two industries, in fact, the speed of circulation is fast and the frequency of consumption is high. Therefore, this is the characteristic of the two industries, that is, the stickiness of the users.

We choose these two industries, in the future, some of our development ideas and ideas, I think it will be based on the characteristics of the industry itself to consider. As we choose these two industries, we do not blindly expand other industries. First of all, we hope to be solid and deep in a few industries. I think for the fast selling industry, its characteristics are fast transfer speed, relatively high stickiness of consumers, and high dependence on products. I think our extended fields will be featured on some products. Besides our benchmark projects and services, we will extend the products themselves. That is to say, for the procurement of characteristic products and the acquisition of resources, in fact, for some fast selling brands in China, in fact, they can really rely on their own resources to support themselves to do business independently. Then, I think opening a flagship store or opening several stores is a disadvantage for their own resources. Therefore, I think we will focus on the procurement of channels and resources, and integrate the entire industrial resources. I think this is the fast selling area.

For clothing, its industrial chain is relatively long. In fact, from front-end sales, promotion to store operation, to our product design and development, to the production, supply and proofing of the factory, this value chain is very long. What we hope to do is focus on the core category. We will strengthen our core competence in this value chain, for example, our marketing promotion ability will be our strategic point.

Second, we have been in the garment industry for many years, so we will strengthen the control of the purchase of goods and the backend of goods. Because we have more than ten years of purchasing managers such posts, resources and connections here.

Third, in fact, we are also trying to have a better combination with the back-end factory and supply chain, so that we can get through the supply chain and really respond quickly.

Therefore, the screening standards for clothing brands will be relatively high. I think it is necessary for traditional clothing enterprises and brands to really invest in resources to do business.