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What Is The Significance Of Semir 2 Billion'S Acquisition Of GXG?

2013/7/4 9:52:00 3167

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after much speculation, a href= "http://sjfzxm.com/news/index_f.asp" > Semir < /a > released the announcement of the purchase of GXG in June 18th. On the second day, a media and investor exchange meeting called "Semir GXG strategic cooperation" was held in Shanghai.

Yes, GXG has changed hands. For a mid 2007 high-end menswear leisure brand, this change has caused many discussions, and how the front is also the focus of attention.

Why are they?

with the rising of Shopping Mall and e-commerce retail channels, the new high-end leisure wear business will have larger room for growth in the future.

The GXG brand is the leader in the above high-end casual wear business.

buyer is the Semir company of China's < a target= "_blank" href= "http://www.91se91.com/" > clothing < /a > industry sales, profit 200 hundred, and the top 500 of China's private enterprises in 12 consecutive years. The seller, Zhong Qi mu, is the original Ningbo and hejas card a a target= "_blank" href= "target=" > Clothing Co., Ltd., and its brand has already opened more than 1200 retail stores in the mainstream department stores and shopping centers nationwide.

The paction amount is 2 billion yuan, the trading products are Zhejiang zhe Holdings Holdings Limited, Yang Herong, Yu Yong, Zhu Zhao Guo, Tu Guangjun and Mao Chunhua have the 71% shareholding of China philosophy.

for the acquisition, Yang Herong, chairman of zhe Shang Mu company, believed that he had found a "distant companion".

"A solitary sail is hard to avoid being lonely and lonely.

Only by building a huge ship and building a strong fleet can we better resist the storm.

At the media and investor exchange conference held in June 19th, Yang Herong expounded this.

Less than P, a year ago, Yang Herong met Semir vice chairman Qiu Jianqiang.

"We often exchange management and management. Although he drinks coffee, I drink tea, but the two of us have many things in common: they are not satisfied with the success of a temporary place, but we hope to build a brand that is long-lasting and deeply loved by consumers. We all have a strong sense of responsibility, and we all hope to contribute to the rise of China's clothing brand."

in Yang Herong's view, Semir has two main attractions: first, its multi brand development strategy.

Both sides are very consistent with the understanding and future development of GXG brand. Semir's multi brand development strategy undoubtedly builds a broader stage for the further development of GXG brand.

Another point is Semir's win-win culture.

The two sides not only have many complementarities in brand, channel, supply chain and management, but also have many commonalities in culture.

The win-win culture advocated by Semir provides a guarantee for the strategic cooperation between the two sides.

"I believe that the original positioning and product style of GXG brand will not change, and the image of GXG brand will be further improved."

Yang Herong said.

and Qiu Guang, chairman of Semir apparel Limited by Share Ltd, believes that this cooperation with GXG is not only consistent with Semir's need to promote multi brand development strategy, but also an important measure for Semir to revitalize China's own clothing brand.

In the context of consumption upgrading and consumption segmentation, the high-end leisure brands have been growing rapidly in recent years. With the rise of the new Shopping Mall and e-commerce retail channels, the high-end leisure wear business with new channels will have greater room for growth in the future.

The GXG brand is the leader in the above high-end casual wear business.

through the acquisition of zhe Mu Shang, Sen Ma can achieve the following objectives: expand the new business growth point, promote the company's sustainable development; expand the business layout to meet the needs of consumer upgrading.

On the basis of the original public leisure and children's clothing business, the layout of high-end business to meet the diversified needs of consumers, improve the layout of the channels, and respond to channel changes.

On the basis of the original layout of the exclusive stores, through this acquisition, Sen Ma can set up new channels such as shopping centers and e-commerce to adapt to the new trend of future channel change, and create a high-end business platform.

China zhe Shang management team has outstanding capabilities in product design, channel resources, mid and high-end business supply chain, e-commerce, human resources and so on, and has comprehensive competitive advantages in the high-end leisure wear business market.

Through this acquisition, Sen Ma can get resources for the development of high-end business.

based on the above, Zheng Hongwei, Secretary of Semir fashion board, believes that GXG is the most suitable brand for Semir to acquire before.

what has changed after the acquisition?

it is worth noting that after the merger, Semir apparel has a shareholding of 71% and a shareholding of 29% of the original shareholders and management. This shareholder structure can guarantee the long-term interests and consistency of the future interests of all parties, and help the various parties to complement each other and develop together.

GXG brand positioning in high-end leisure men's clothing, Semir brand positioning in the public casual wear, there are obvious differences in brand positioning and consumer groups.

This difference is also reflected in product design, brand promotion, production procurement, sales channels and so on.

For the acquisition, there are many worries outside the industry. For example, GXG brand positioning and pricing are significantly higher than Semir brand. Will the image of GXG brand in the eyes of consumers be reduced after the acquisition? Will it affect the product quality of GXG brand? How do Semir apparel manage and operate the GXG brand with high brand positioning?

Zheng Hongwei, Secretary of Semir fashion board, said at the exchange meeting that the Semir clothing acquisition company will be combined with the original shareholders and management to form the board of directors, and manage the subsidiary company through the board of directors. The central management still remains unchanged and sign long-term work contracts to ensure the stability of the company's operation and development.

in addition, the design team, supplier, channel structure and other third party service system of GXG brand remain unchanged, ensuring the original brand positioning, design style and quality level of GXG brand remain unchanged.

China zhe Mu has become a subsidiary of the listed company, will further enhance the company and brand image, and with the help of the platform of the listed companies, get more funds and resources support to cope with the increasingly fierce market competition in the future, and maintain sustained and stable development.

Therefore, the cooperation between the two sides will not only affect the positioning and image of GXG brand, but also promote its rapid and sustained development in the future.

according to the pferor's commitment to guarantee the performance of Semir, zhe Zai still has a net profit of not less than 265 million yuan in 2013, corresponding to 28.6% growth; zhe Mu Shang's net profit in 2014 and 2015 is not less than 20% over the previous year.

ZHONG Zai mu CEO Yu Yong believes that Semir will ensure the normal operation of all GXG businesses. He is not worried about the future changes of GXG brand.

March 2011, Semir clothing was successfully listed on the SME Board of Shenzhen Stock Exchange and became the leading clothing company in the market value.

Listing and relatively abundant capital is a direct driving force for Semir's ongoing M & a business.

In May 2012, it bought a 100% stake in Zhejiang Chinese Industrial Development Co., Ltd. for 156 million yuan.

with the intensification of fierce competition in the industry, the apparel industry in the future will enter a large group of industry mergers and acquisitions to achieve the path of deep development. Semir will also support mergers and acquisitions through issuing bonds and stocks in the future.

The acquisition of GXG is only a step in Semir's multi brand development strategy. Xu Bo, executive vice president of Semir apparel, revealed that the recent progress of the multi brand development strategy of the company will take part in various international and domestic market segments.

In September this year, the company will also cooperate with Miniconf, a famous children's clothing company in Italy, to introduce Italy's famous luxury children's clothing brand Sarabanda.

In March next year, the company also plans to introduce European high-end brands, including Denmark, Germany and South Korea, and is now in the preparatory stage.

How do people in the industry evaluate?

2 billion yuan for buyers and sellers? Is it worth increasing? Is the apparel industry becoming more and more popular?

> "2 billion value?" the question of Zhang Bingliang, general manager of Shanghai lion Consulting Co., was clearly put forward to Semir.

He believes that such a takeover is only the acquisition of the shell of the brand without adding channels, because the brand does not own the terminal.

"What will you get if you buy 2 billion yuan in GXG? In China's business environment, the channel mode of the acquired company is the agent system. Domestic affiliate is brand wholesale. Brand agents and agents and franchisees are independent accounting businesses. Is your terminal brand your business? Is there a legal contract? You only bought the brand shell!"

"M & A is just the beginning, Semir and GXG brand positioning are different, the channels are complementary, but the mode of operation is almost the same, and one is going downhill, the other is going downhill. The two add together, and we need to go back to the uphill road with great wisdom and big pattern of forward-looking integration."

Zhang Bingliang commented on the biggest mergers and acquisitions in the domestic apparel industry.

and Yang Dayun, President of UTA Fashion Management Group, is the best time to sell Yang Herong GXG when the brand value is the highest.

"what will GXG do next year next year? He doesn't have the bottom of his heart. Selling it to Semir is also a good choice.

Because Semir's days are better than American States, it bundles children's clothing brand Barbara when it comes on the market. "

Yang Dayun believes that the good development momentum of the children's wear market makes Semir ahead of other garment enterprises.

The price of 2 billion yuan is "earned" for zhe Zai mu, because all are cash pactions, not equity replacement.

"it is in recent years that China's garment industry has experienced many years of rapid development and inventory crisis. Now this stage has begun to enter the downstream channel as a whole, which has given an opportunity to enterprises like GXG."

Zhang Jian, general manager of CITIC Securities mergers and acquisitions business line analysis, said: "in the past few years, the domestic clothing brand's self built cost is relatively lower, until now, it must be the acquisition cost more cost-effective.

I believe that in the future there will be more large-scale local garment groups like Shen Ma such as mergers and acquisitions.

Yang is not surprised at Semir's acquisition of GXG. The price of 2 billion yuan is not surprising to him because he is planning to acquire a national brand of a national treasure.