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Semir CEO Talks About The Big Changes Behind Group Acquisitions

2013/9/21 11:37:00 106

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Semir Qiu Guang & Amp; Group Acquisition

"not only Wenzhou, but the whole Zhejiang, few people do not know Qiu's story."

After passing through the site of the headquarters of Wenzhou's six Hongqiao Road, the taxi driver told reporters at the building.

Less than p months ago, no one was concerned about Semir in the entire apparel industry and capital market.

In June 19th, Semir apparel (a listed company of Semir group) announced that it would buy 71% stake in Ningbo zhe Mu sang Holdings Limited at a price of 1 billion 980 million to 2 billion 260 million yuan.

This is the largest merger in the domestic apparel industry.

July "financial weekly" published the "Chinese family wealth list", the founder and chairman of Semir group Qiu Guang and 12 billion 300 million yuan family wealth ranked forty-first in the country, first in the apparel industry.

Its children, daughter-in-law and son-in-law hold 84.13% shares of Semir clothing.

"P" is just like the hot weather in Zhejiang this summer. Semir's comments on Qiu Guang and the family are equally enthusiastic.

But Qiu Guang, who is far away in Wenzhou, is busy with the relocation of the group, moving the headquarters from the urban area to the Ouhai economic development zone.

Less than 17 years ago, he was born in P County, Ouhai.

Qiu Guang and poor families, only primary school culture, sold home appliances, set foot in real estate, finally chose clothes, and successfully brought Semir to the capital market, realizing the pformation and upgrading of enterprises and the rapid growth of family wealth.

Qiu Guang, who is known as "Eastern Jewish", is now the richest man in Wenzhou.

His legend is the same.

However, he still has the most simple homespun complex. He chose his hometown, Ouhai, in the three major development zones of Wenzhou.

It takes nearly half an hour to drive from downtown to P.

Compared with the original site, the new site of the group expanded several times; the R & D building, office building, logistics warehouse, staff quarters and dining room were renovated; the walls of the main building lobby were huge "Semir" logo green and glossy.

three "pluralism" .

Qiu Guang and hope that suppliers will be prepared because they need to have big moves - diversification of products, diversification of channels and brand diversification.

"Semir should add?"

"that is for sure. This is unwavering and enterprise development must be added."

Qiu Guang and it seemed surprised that the reporter asked such questions.

June 19th, Semir announcements denounced a huge sum of 2 billion yuan to acquire 71% stake in zhe Mu and took the biggest step of diversification strategy.

This is known as the biggest garment acquisition case in domestic history, and it also raises many questions. "Semir buys expensive!" "why did Semir choose such an enterprise?" at the same time, the share price was also affected by its impact.

in the face of another question of "Global Entrepreneur", Qiu Guang and calmly said, "the price is not high, and the calculation is not cost-effective. I will not comment. I am optimistic about the future."

In a previous interview with local media, he said, "we can't spend money lavishly. That's what fools do."

It is understood that for this company, before the listing of Semir clothing, Qiu Guang and began to continue to pay attention, he followed for three or four years.

Semir just signed a framework agreement with zhe Mu Shang, and is still in the investigation stage.

Qiu Guang and he must go through the framework agreement, and Semir can enter into its core area for in-depth investigation.

The clothing company in Ningbo owns GXG, gxg.jeans and other brands, positioning in high-end casual menswear.

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< --EndFragment-- > this is the meaning of the brand diversification strategy, so the acquisition is not surprising.

From the perspective of Semir's future performance, the two brands of Semir and Barbara are obviously difficult to support a larger scale. After years of development, these two brands are becoming saturated, and high-speed and large-scale expansion is difficult to sustain.

As for the existing product positioning of Semir clothing, there is still a huge space in the high-end brand market.

this is only the beginning. In the Semir GXG strategic cooperation media and investor exchange meeting, he also revealed that in September this year, he will cooperate with Miniconf, a famous children's clothing company in Italy, to introduce Italy's entry-level luxury children's wear brand Sarabanda (joint venture). In March 2014, the company also plans to introduce into the European (Denmark, Germany) and South Korea high-end brand for men and women, and is now in the preparatory stage.

In the acquisition of P, zhe Mu Shang, Qiu Guang also valued their channel advantages.

And this is also in Semir's channel diversification strategy.

In the "channel is king" period, Semir ran the "horse" enclosure to lay the foundation of the channel network, but the street store was the main one, while the middle philosophers still had about more than 1200 retail outlets in the mainstream department stores and shopping centers throughout the country.

In the first half of this year, Qiu Guang issued a call at a company cadre meeting: to carry out joint operations of "sea, land and air" and launch a joint attack on P.

"Sea" is entering the shopping mall. "How to create a shopping environment for situational experience to meet the challenges of e-commerce, shopping malls and complexes are the future."

Qiu Guang and he said.

The reporter asked him whether he was now entering the shopping mall and complex, whether it was a little late for clothing enterprises. Qiu Guang and immediately replied, "there are no latecomers, only winners."

"empty" is its e-commerce strategy. Through the electricity supplier, its inventory has dropped rapidly, so that Qiu Guang and tasted the sweetness. It has formally established an e-commerce company. At present, it is only an operation company, which is responsible for the docking and execution of the electronic business platform.

As for the self built platform, Qiu Guang and he are still observing.

electricity provider Godfather Ma Yun and complex shopping malls Wang Jianlin once set up a 100 million yuan "gamble", Qiu Guang and are also very concerned, but he did not explicitly support which side, "the electricity supplier is the future, but it is difficult to shake the traditional channels at present, the future is most likely to form the potential to force the enemy, but at the same time, it will permeate each other thoroughly."

there is a group of inconspicuous but crucial data in the Semir apparel's earnings report. In 2012, the Semir brand's direct store revenue growth rate was 43.01%, while the franchisee dropped 18%; balbala's direct store growth rate was 63.26%, while the franchisee was down 4.12%.

What happened to the "land war" of Semir? P? Among its nearly 8000 shops, the main street shops are mainly.

But this pattern is changing. Semir first made an experimental field by itself, shutting down some small shops, and opening 500 square meters and 1000 square meters of large shops in some areas.

Many shops are located on the first floor of commercial buildings, the rental cost is relatively high, and the series of products that can be accommodated are limited. Instead of being converted into large stores, the two major problems have been solved. The store location has moved to two or three floors, and the cost has been reduced. At the same time, it can accommodate multiple product lines of Semir clothing to improve the efficiency.

Once the test is successful, Semir is likely to extend this model to franchisees.

The main advantage of P store is in the latter, forming multiple scenes in the store, which can satisfy consumers' clothing requirements from head to toe.

In the context of increasingly individualized consumer demand and "faster", Semir has begun to change its popularity before starting to accelerate the category segmentation. Their design team defines a series of costumes based on consumers' daily life scenarios from Monday to Sunday.

Diversification and diversification of channels simultaneously.

family business

"today I talk about so many business aspects. It's a practice."

Qiu Guang and humbly talked about all the measures of Semir, he said this with modesty.

At present, as chairman, he is only responsible for the strategy, and the specific business is responsible for the management team headed by his son Qiu Jianqiang and his son-in-law Zhou Pingfan.

family business and family wealth have always been another important angle of concern for Semir.

Whether it is the Hurun rich list or the media rating, Qiu Guang and his family will always be seen.

In the shareholding structure of Semir clothing, the top seven shareholders are related to the family. The first, second largest shareholders are the Semir group and Zhejiang Semir Investment Limited which are directly controlled by their families. The third to seventh largest shareholders are Qiu Guang and his son Qiu Jianqiang, daughter, son-in-law Zhou Pingfan and daughter-in-law.

They directly or indirectly control more than 80% of Semir's clothing.

Qiu Guang and P do not mind talking to reporters about their families.

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Less than P! --EndFragment--! When he started his business, his son just retired from the army and followed his father to start his own business.

Qiu Jianqiang, more than 20, went to Guangdong to find a manufacturing enterprise alone. It lasted for 10 years.

Speaking of these, Qiu Guang and his father as a father began to soften. "In those 10 years, ah Qiang did not have a spring festival at home."

When Semir was on the right track, Qiu returned to Wenzhou.

Qiu Guang and recollection, because his son was away from home all year round, returned to headquarters and was stopped by security guards when he entered the factory gate.

Subsequently, Qiu Jianqiang was stationed in Shanghai because of the need for business expansion.

"no matter son or son-in-law, I respect them very much."

When starting a business, Zhou Pingfan, his son-in-law, worked at the airport, and also took part in some of his work. After that, he resigned and joined Semir. For a long time, Qiu Jianqiang was in charge of production and Zhou Pingfan was in charge of business management.

Qiu Guang and stressed, "so they are not rich two generations, but they are my entrepreneurial partners."

"my children are excellent. This is also a major factor in Semir's success."

Qiu Guang and a little emotional, he said: "this is quietly told you, usually do not face to face to them."

Qiu Jianqiang once told reporters that his father would retain a little more dignity in front of his son.

"they are all successful in the development of Semir."

This year, Qiu Jianqiang and Zhou Pingfan changed their positions. Vice chairman of the company was responsible for investing in M & A affairs, and Zhou became president of the company.

"According to the needs of business development, personnel adjustment is not just an indication of the advantages of family businesses, it can be adjusted flexibly."

At present, only three of them are in the company, and the daughter who has been a company accountant has already left Semir.

Qiu Guang and chairman of the board of directors are no longer responsible for the specific operation. The pressure of his son and son-in-law is greater than that of him.

And in recent years, he must say that there is pressure, that is, before and after the listing of the company.

Qiu Jianqiang once said that listing is a stage desire of the father.

He thought that after the company successfully landed in the capital market, Qiu Guang would relax a little, but unexpectedly, he suddenly faced the high expectations of investors, and his pressure was bigger than before.

In this regard, sons will often enlighten Qiu Guang and others.

but listing did make Qiu Guang and his family grow suddenly. In the face of billions of wealth, many people would have all kinds of imagination about this family.

But Qiu Guang said, "we don't pay much attention to this. Life is no different from ordinary people." I don't know how much money I have now.

The driver of Semir also told reporters that Qiu's family was very simple. His daughter was so rich that he still wore Semir clothes.

When Qiu Guang and Semir remembered that they had just appeared on the market, their daughter faced their own billions of market capitalization and joked, "is there so much? How can I not feel it?"

Qiu Guang and P, who have been living in poverty, have maintained simple living habits and family life. Wealth growth and distribution of interests have not led to "family discord" in family businesses.

He said he was very family oriented, "my family refers to his family and the big family of Semir."

Sons and daughters are two families in Shanghai. Qiu Guang and every time he goes to Shanghai to hold a meeting, "not his daughter's home, but his son's home."

but Qiu Guang has set a rule for his children that he can never talk about work at home.

While at work, try to maintain the relationship between colleagues.

Qiu Guang and laughing said, "this is not enough for me to do. I should regard my son son-in-law as a friend, as a colleague. They are shareholders, but sometimes they tend to pose as fathers, sometimes they are very tough."

But Qiu Guang and he will compromise. Sometimes when the vice president and the president say something is reasonable, he will say, "according to you."

Qiu Jianqiang once commented on Qiu Guang and: he has a very good style of doing things. First, he will follow up and check anything he has done. He thinks the boss is very dedicated.

Second, in this process, before any decision is made, he will communicate with everyone and reach agreement.

the unique emotional ties of family businesses make it easier for enterprises to form cohesiveness and strong executive power.

Qiu Jianqiang once said that it has always been very important for me to be filial piety. I hope he (Qiu Guang he) is happy because I went out for a long time myself. After the army came back, he went to Guangdong for 10 years. There are not many days for him to really stay with him.

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In the interview process, Qiu Guang and P are also trying to prove their vigorous vitality in the interview process. < --EndFragment-- >

Speaking of the future development of the acquiring company, he did not forget to add, "when it comes to family topics, the simple family is good, but the small is easy, but we are not. We bear a responsibility."

"in his character, he is a man who does not admit defeat. He is very unyielding. He has his ideals."

Son, vice chairman Qiu Jianqiang, perhaps very good explanation of Qiu Guang and what kind of family business head?

"for Semir, this year is a turning point and adjustment year. Next year will be a change year."

Sitting in an office filled with a sense of decoration, Qiu Guang told the Global Entrepreneur: "I will position next year as zero, cohesion and leapfrogging."

He simply explained that the so-called return to zero is to unload the burden, lay down the previous successes, failures, troubles and pressures, and re create the passion for entrepreneurship. Cohesion means the launching of large system and large platform operations, that is, diversification of products, diversification of brand and diversification of channels, multi pronged and multi legged walking, so as to achieve qualitative leap through reform and innovation.

Of course, it also includes the growth of quantitative performance.

Qiu Guang and think that both the industry and the company have come to the time of change.

In 2012, the whole domestic garment industry experienced a cold spell. The high inventory made the clothing enterprises who had been keen on horse racing enclosure shivered.

Among the listed companies, including Semir clothing, Metersbonwe, seven wolves, search for special, Pathfinder, card road and so on are all dragged down by high inventory and share price performance is poor, which reflects the aging and crisis of the entire industrial chain such as supply chain, product, brand, channel, price and so on.

Coupled with the strong "invasion" of international brands, the entire clothing market is undergoing tremendous changes.

P and Qiu Guang admits that it was a rather difficult year last year.

However, he did not attribute all the causes of this predicament to external factors. "I think external factors account for 30% to 40%, and internal factors account for 60% to 70%. Why do we say that in 2008, the big storm of Semir still achieved more than 40% growth, indicating that our product development and positioning were in line with consumer behavior.

Why do we have this problem now? That means that our product development or structure is in question. This must be reviewed. Last year and this year, we have been reviewing this.

as Semir assistant chairman Zhao Xiaobo said, the current market is not a question of uncertainty, but that enterprises must change, otherwise, if there is a systemic risk, it is avalanche.

high storage has exposed the disadvantages of the clothing industry, which has triggered the crisis consciousness of Qiu Guang and further rekindled the enthusiasm of entrepreneurship.

Semir is undergoing a big change from inside to outside. The virtual business model that has been proud is changing. Once immersed in self created brand, it has begun to gradually expand to M & A.

but as a listed company, Qiu Guang and he have to bear the pressure of "not beautiful" in the short term of financial statements and stock prices in the process of pformation.

straighten out the front end .

Qiu Guang and standing up from the desk, hurried up to come up, and repeatedly said, "sorry, sorry to have kept you waiting."

He was a little fat, with a red face and full of energy. He did not seem to see the ups and downs of decades of business in the face of the self-made entrepreneur.

"I think I'm young and young, really."

Qiu Guang and very seriously told the "Global Entrepreneur" reporter.

if there is no travel arrangement, Qiu Guang arrives at the office punctually at 8 o'clock every day. Even if he lives in downtown Wenzhou, a special shuttle bus will pick up him. He also has lunch with the staff at the company restaurant at noon.

A group of employees sat around the table, eating and chatting.

Qiu Guang and no driver, even the driver appraise him like this. "Once I carried a Qiu family together with my family to go to a place. When the boss got off the train, he kept saying," hard work, "which has never happened before in my company.

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< --EndFragment-- > is such a gentle and honest character that let Qiu Guang and 17 years ago lay the foundation of Semir.

At the end of 1996, he turned off the household appliance business and prepared to devote himself to the a href= "http://www.91se91.com/news/index_c.asp" > clothing industry < /a >.

There must be channels to do retail business.

At that time, a group of former household appliance channel merchants resolutely followed him. They said, "whatever you do, we will do anything, and follow Qiu to have meat."

Today, 80% of the Semir apparel franchisees have worked with Qiu Guang for more than ten years.

At one time, Metersbonwe had encountered the joint resistance of agents, but not once in Semir.

Such a strong team of franchisees let Qiu Guang and planned virtual management mode gradually form and mature.

learning the virtual management mode of Nike and Giordano, Semir's clothing production and channels are "two out of doors", and the brand remains in the company. This light asset mode has been relished.

Around 2000, the domestic clothing brand has just started, and products can make money. The large capacity of the market is enough to support such a model.

Qiu Guang expanded more than 100 stores a year later.

When his son Qiu Jianqiang retired from the army, he went on a business trip with his father and went to Zhongshan in the Pearl River Delta to find suppliers.

When p is changing, the market is changing. After extensive development, the virtual business model has been challenged more and more. Even Semir, who has always stressed the power of control, is no exception.

Typical performance is uncontrollable high inventory.

In the history of Semir, there are two rounds of high inventory in P.

According to Qiu Guang and introduction, before 2007, Semir sold its products to the upstream suppliers according to its own market forecast production plan, and after all products were shipped, they entered Semir warehouse and shipped according to the needs of franchisees.

If a category is unsalable, Semir will bear almost all inventory risks.

Since then, companies that originally used light assets have been burdened with a fatal burden.

"Inventory risk means the risk of cash flow."

Subsequently, Qiu Guang and began to take the specific production, specific measures as the distribution system to order system, so as to reduce inventory risk.

With the rapid change of consumer demand for personalization, Semir will increase its orders 4 times a year to 8 this year.

P, even so, Semir is unable to avoid another high inventory crisis last year.

According to the 2012 earnings report, 1 billion 600 million yuan was sold in the middle of the year, and the figure was 1 billion 200 million yuan at the end of the year.

This crisis is fierce and lasting, and for this reason, Qiu Guang and strive to pform Semir in an all-round way.

it is worth noting that among the many factors leading to high inventory, franchisees are unable to digest Semir inventory in a timely manner because of the high inventory in the previous year.

In the virtual management mode, the channel and suppliers are not fully grasped in Semir's hands, so there is no timely and rapid chain reaction between terminal channels, brands and suppliers, so that they can be adjusted.

In the background of domestic fashion brands competing to imitate the ZARA mode, this abuse is even more prominent.

but Semir has found a counterplan.

Qiu Guang and a bit proudly told reporters, "our inventory is declining rapidly."

In August 20th, Semir clothing issued semi annual report, confirmed his statement, according to data, its stock has returned to normal level.

How did Semir do it? P and Qiu Guang put up a set of philosophy of life. "No matter friends, relatives or partners should be confused, give them some benefits, so that they can truly feel the joy of life. Only considering their own, they can't do it."

The key to resolving the stock crisis is to follow his logic.

Qiu Guang and no longer give channel operators "pressure" sales targets, to reduce their pressure, so that they have sufficient time to solve inventory, and tide over difficulties.

in addition, Semir group began to vigorously develop new channels, electric business and self operated store became its two largest inventory export.

A three pronged approach enabled Semir to land safely.

According to Qiu Guang he's plan, the electricity supplier and the self run store will continue to invest as a regular channel in the future.

the biggest push for Semir is the optimization of the whole mode.

At present, the information system linking terminals, brands and suppliers is being developed. Once on-line, the information flow in the front and rear ends will be realized quickly.

But Qiu Guang said this is just a tool.

The most important thing is to innovate in the supply mode: for the basic funds, the ordering system will continue to be implemented, and the franchisees will assume their own inventory risks. For the tidal current, it will restart the distribution system, coincide with the ZARA's quick response mode, and make the trend payment become an important business of Semir. However, due to the existence of a certain market risk, this part of the products will be distributed to the franchisee by < a href= "http://www.91se91.com/news/index_c.asp" > Semir < /a >. Once there is a slow-moving sale, it will be returned to Semir in full, so as to reduce the inventory risk of the franchisee.

optimizing backend

Qiu Guang and P say that they are not good at social interaction, do not smoke and do not understand the culture of wine. Therefore, they can not go to some organizations' activities.

He said, "now I have the initiative to go to a dinner party, almost no, in Wenzhou, from top to bottom, from the government to the enterprise.

It's not my pride. I'm not used to it. I don't understand. "

For entrepreneurs keen on golf, Qiu Guang and he said he did not fight, and had time to practice Tai Chi, "but not perfect."

He laughed with a self deprecating smile. He only took a walk more often.

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--EndFragment--! But he will not fall down on activities related to Semir.

In August 21st, he arrived in Shanghai from Wenzhou to attend the Semir supplier conference.

He is going to talk about the two meaning: first, thank the supplier for many years' support. Second, tell them about Semir's goal, direction and future readjustment, demand and standard, hoping that they can understand and support.

under the mode of virtual operation, the stability and support of upstream suppliers become another key link in Semir's development.

Qiu Guang and he still maintain the habit of daily communication with suppliers.

The degree of attention is obvious. In an interview with reporters, Zhou Pingfan, President of Semir shares and Qiu Guang he's son-in-law, are visiting the supplier companies. "We want to build a close and strategic supplier team."

Qiu Guang and he said.

"P", from Qiu Qiang, who went to Guangdong alone to find a production plant in 1997, has reached more than 200 suppliers of Semir. Managing such a large supply chain has always been the top priority of Qiu Guang and his son.

In the early days, Qiu Guang and he also tried to invest or participate in some production enterprises, such as Yunfeng fashion and Jia Yun clothing.

Zhao Xiaobo explained that the clothing industry is a Pyramid shape, the basic section can be directly handed to the agent processing enterprise, but for some trend, it needs timely response and adjustment. Semir's own factory has stronger control over the whole process.

but before listing, in order to avoid related pactions, Semir closed or pferred these enterprises to become a pure "two out" virtual enterprise.

While cutting off some of its own factories, Qiu Guang and he are also doing the addition, gradually forming an open supply chain, while Semir itself is building a product platform and channel platform.

from OEM to ODM and then to various forms of coexistence become the path of Semir supply chain development.

Among them, there are more and more ODM factories with design capability. According to media reports, in 2012, the proportion of Semir in the form of ODM increased by 1.5 times.

this is a community of interests. But for Qiu Guang and Semir, after all, it is not their own factory. So how does Semir, as a branding company, control the hundreds of suppliers that do not belong to them? We must know that these more than 200 suppliers are more or less competitive.

Qiu Guang and found the biggest two "gate of life" of upstream suppliers.

First, the upstream factories do not care much about the profit of single garment, but also care about marginal benefits. Second, these processing enterprises are most afraid of "full of hunger and hunger", and orders are broken.

As Zhao Xiaobo said, as long as these two key demand points are resolved, "factories will serve you."

> a href= "http://www.91se91.com/pioneer/" > Qiu Guang and < /a > borrow the government's customary "one enterprise and one strategy" management mode, but Semir only applies it to category, a method of category.

To sum up, there are two kinds of policies: one is the inclusive policy, the other is social public policy, the other is the bottom line; the second one is to focus on fertilization, and to give support to technology and management.

Semir revitalized the huge supply chain resources and shared resources.

For example, a product of a jeans manufacturer may have a problem of water color difference. Semir will introduce the experience and methods of other factories with good production technology to this enterprise.

At present, several small factories in this year have exceeded 100 billion yuan in output value this year.

Less than P, Semir's control power lies in its upstream control.

For a garment manufacturer, Semir has the right to decide on the purchase channels for the fabric and accessories of the company.

FOB (processing enterprise self procurement), IFOB (designated supplier range) and CFOB supplier (designated) three modes parallel, the basic form of the majority of the use of FOB, and for some new fabrics, Semir uses more of the latter two, from the source strictly control the quality of finished products.

in recent years, ZARA mode is being emulate by garment enterprises in China, especially its supply chain management.

Qiu Guang and he have been paying close attention to it, but it is hard to copy the ZARA model to Semir under the current industrial base and environment in China.

Among the many Chinese apprentices of ZARA, Metersbonwe once claimed to be the most similar one, but its performance in recent two years may have shown that this pformation is not successful enough.