Carlo NDI Road Advising Investors: The Impact Of E-Commerce On High-End Fashion Is Very Small.

The conference room of "P" > a href= "http://www.91se91.com/news/index_f.asp" > card slave road < /a > Guangzhou headquarters is packed. In the face of the only company in China that is located in the senior men's clothing market, investors are very enthusiastic.

Lin Yongfei, vice president of card road, vice president Chen Xiusen, Dong MI, Raymond Lam and other executives responded to investors' questions.

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< p > investors: How did the new store run last year? How much profit did you make to the company? < /p >

< p > card slave Road: as a whole, the new store has achieved the expected goal of the company, and of course, it does not exclude individual shops that are not ideal enough to be nurtured.

Normally, a new store needs a year's training. The target of one year will reach 70% or 80%, and the remaining second years will be able to achieve the ideal state.

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< p > new stores should be better this year, because many new stores opened last year in the three quarter and fourth quarter. In fact, the business hours are about 5 months.

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< p > investors: from the three quarterly report last year, the company's net profit growth momentum is better, but from the cash flow statement, cash flow is negative. What is the specific operation of the company? < /p >

< p > card slave Road: three quarterly disclosure is the company's operation at the end of 9.

Generally speaking, in September, the goods in the autumn and winter were completely warehousing, and the inventory was at a relatively high level. At the same time, suppliers generally asked us to pay the goods on arrival. When the goods were put into storage, they must pay the goods immediately, so they paid more cash.

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< p > on the other hand, when the company went public, it increased the credit limit to some franchisees. When the company sold its goods in autumn and winter in September, part of the accounts receivable had not been returned, resulting in relatively high accounts receivable, which led to negative cash flow.

If we look at the whole year's operation, these factors will weaken and the annual reports should be better.

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< p > investors: data from the three quarter of last year showed that the company's inventory reached 250 million yuan and rose faster. What is the specific situation and whether it will improve in the four quarter? < /p >

< p > carndor Road: the inventory in the three quarter is relatively high. Besides the factors influencing the return of goods in autumn and winter, another reason is that the number of stores opened last year is quite large, but in fact it is within a reasonable scope.

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< p > investors: how do companies handle inventory products? < /p >

< p > card slave Road: the fashion industry has a saying: "inventory is the tomb of the brand".

Our company's < a href= "http://www.91se91.com/" target= "_blank" > clothing < /a > the digestibility per year is close to 70%. The remaining 30%, 8% to 12% will go to second new stores and large stores to sell, and about 20% of the inventory will be digested in two ways, one is digestion through the outlets, two is a large discount activity to participate in shopping malls.

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< p > investors: in addition to their own brands, the company also acts as an agent for international brands, mainly based on what considerations? < /p >

< p > card slave Road: the company acts as an international brand agency business, basically acting as a product of four seasons and no code number.

For example, cosmetics are four seasons, and there are no yards, and bags are also easy to take away.

In the fashion brand agency, Korean brand is more suitable for us, no matter the shape, the edition, the fashion trend are all suitable for the Chinese market.

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< p > international brand agency is basically authorized by a single store. There is no general agent in the whole country and the whole province. The general international brand is direct shop.

From the point of view of business, we have been running our own brand and acting on related brands. The income of the company's agency business accounts for only 5% of the total revenue. The agency business should help the card slave Road, so that the company can exert influence and grow rapidly.

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< p > investors: is there any plan to launch the women's clothing brand in the future? < /p >

On the one hand, the company needs to adhere to its brand positioning; on the other hand, men's clothing and women's clothing are different, men's clothing styles are basically unchanged, women's clothing styles are very different, and women's clothing brands basically have their own factories, and the goods are faster than p.

The company insists on positioning senior men's clothing and will not consider developing women's clothing.

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< p > investors: at present, the domestic e-commerce market is developing rapidly. Suning Appliance is also developing to the electricity supplier. How will the company respond to the impact of the electricity supplier? Will it consider developing this area in the future? < /p >

< p > card slave Road: e-commerce is the development trend in the future, but we can not simply identify why it can be made into electricity supplier.

Viewed from the United States, the United States is a country with a well-developed credit system. The service is the best in the world. E-commerce has the best development, but it has not been able to realize the business of all businesses.

It is understood that the electricity market share of the United States accounts for about 30%, and physical stores still account for about 70%.

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So far, we haven't seen the United States, Europe and other countries will do P e-commerce.

High end standard parts can be made into electronic business, such as electrical appliances, bags, cosmetics, but fashion must go to experience.

Therefore, from the perspective of our industry, the real impact of e-commerce is very small, especially < a href= "http://www.91se91.com/news/index_h.asp" > high fashion "/a".

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