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Domestic Mens Market Extensive Expansion Era Ends, Multi Brand Operation Difficult Landing

2013/9/24 21:52:00 53

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Men's Wear Industry Men's Wear Market Men's Wear Brand

in the 13 listed companies < a href= "http:// www.91se91.com/news/index_c.asp" > men's clothing > /a, there were 7 negative growth in operating income and net profit in the first half of 2013, of which the net profits of Busen shares and news birds were all over. 
 the old "men's pants expert" nine herd Wang wore T-shirt, shirt and suit, but his performance did not change. In the first half of 2013, he even appeared the first "double slide" of his operating income and net profit since the listing. 
 slower development < a href= "http://www.91se91.com/news/" > men's clothing enterprise < /a > more than nine Mu Wang family. 
 according to incomplete statistics, in the 13 men's clothing listed companies, there were 7 negative growth in operating income and net profit in the first half of 2013, of which the net profit of Busen shares and reported birds fell by more than 30%. 
 besides, < a href= "http://www.91se91.com/" target= "_blank" > clothing < /a > the general high inventory in the industry is also quite obvious in men's wear field. The total inventory of these 13 companies is as high as 10 billion 321 million yuan (YOUNGOR according to clothing inventory), of which nine herdwood stock is 588 million yuan, accounting for 11.36% of the total assets, while the number of Lining who suffers from high storage is only 13.45%. 
 it is not hard to see that this confirms the industry's previous view that the crisis in the clothing industry will spread along the path of sportswear casual wear men's clothing / women's wear / children's clothing, and the good men's clothing market has not been spared. 
 transformation is imperative. 
 the end of extensive expansion era 
 in the first half of 2013, nine Mu Wang closed 59 sales terminals, of which the number of outlets increased by 42 to 736, while the number of franchisees decreased by 101 compared with the beginning of the year. At the end of 2011 and 2012, sales terminals increased by 430 and 124 respectively from the beginning of this year. 
In the half year report of 2013, the seven wolves released 152 stores, but maintained the number of terminal units in 462 homes. Card slave Road, good news birds and so on have also slowed down the pace of opening shop, the first half of the new shop is far below the number of previously expected, and new stores are also direct camp. 
 Ouyang, an analyst with foresight Industry Research Institute, told Xinhua that the growth of men's clothing in the past few years is closely related to the large expansion of stores. However, under the double pressure of terminal demand and sports brands, men's clothing brands have begun to feel the importance of meticulous management of channels. 
 take seven wolves as an example. In the view of Li Jiajia, analyst at Guotai Junan, the company is experiencing the transformation from "wholesale" to "retail" and from extension to intensive farming. In the way of commodity management, the concept of commodity planning is introduced and strengthened, and the application of data is emphasized in terminal management mode, which greatly improves the ability to control terminal. 
 "because of the large investment in direct operation system and meticulous management, it may lead to a decline in performance in the short term, but it is of great benefit to the long-term development and upgrading of enterprises. This is also the only way for domestic garment enterprises to transform. " Ouyang Xinzhou said. 
 it is worth noting that the net proceeds raised by the nine herd kings were 2 billion 553 million yuan, of which 1 billion 320 million yuan was invested in the "marketing network construction project". As a matter of fact, at the end of 2012, the fund still had 2 billion 83 million yuan on the account, while the nine Mu Wang's investment in marketing network construction was also very cautious, or even called "conservative". As of June 30, 2013, only 11 stores and 12 rental shops had been put into use in the shops purchased by the company, with a total investment of 397 million. 
 strong > multi brand operation is difficult to land 
"P >" director of the brand consultancy brand research center Lin Yifan told this newspaper that the market capacity of the "a href=" http://www.91se91.com "clothing enterprise < /a" single brand is limited. In order to find new profit growth points, enterprises tend to develop more brand names, thus forming the situation of multi brand operation. 
 9 Mu Wang is no exception. According to public information, jiusuwang bought the fashion trend "FUN" from Xiamen fan faction "a href=" http://www.91se91.com/ "target=" _blank "> /a" limited "in September 20, 2009. In August 6, 2010, it purchased the Italy high-end trousers brand VIGANO's right to use the permanent trademark in the Greater China region at the price of 449 thousand and 800 euros in August 6, 2010. Calliprimo, known as the menswear brand in Italy in 2003, has been operating independently in the past two years. 
 Ouyang Xinzhou believes that the development of clothing brands is only a form of self creation, acquisition and agency. Self selection is most suitable when the main brand is more mature, the business growth is faster and the store efficiency is higher. The acquisition and agency brands tend to be more high-end, which can enhance the image of the company and integrate with the high-end brands. "Domestic men's clothing enterprises often consider creating sub brands when the main brand is still in the development stage and performance bottlenecks are encountered. In fact, it is more difficult to cultivate large scale and high investment at this time." 
 9 Mu Wang has not become a model of < a href= "http://www.91se91.com" > multi brand operation < /a >. Data show that Mauser (Xiamen) Investment Management Co., Ltd., a wholly owned subsidiary of nine Mu Wang, mainly runs FUN brand. Its annual report in 2012 revealed that it had been losing money for 3 consecutive years. Guotai Junan research report also pointed out that the brand's income in the first half of the year was only about 2000000 yuan, and the way to turn around the losses was still long. The contribution of Ge Li Meng to the electricity supplier was very small; VIGANO disappeared in public information. 
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 according to our statistics, 9 of the 13 listed companies have carried out multi brand operation, but at present there seems to be few contributions to performance. 
 at present, there are seven brands of wedding birds, including the wedding bird, Saint Angelo, Bylot and HAZZYS. In the first half of the year, the income of the main brand reported bird declined, and the income of the sub brand HAZZYS increased to 140 million yuan, more than that of the brand last year, and the proportion of revenue increased to 16%. In addition, the other brands of flair, such as flair, such as flair, and so on, have also increased by 3.1%. 
 but the birds in the multi brand layout adopt the brand integrated store mode, and implement a terminal and multiple brands. This also means to fundamentally adjust the enterprise structure and commodity category, and the cost and pressure are not necessarily applicable to other companies. 
 weakening family color /p >
 Lin Yifan said that China's clothing enterprises are mostly family businesses, and now they are also faced with the problem of inheriting enterprises. Coupled with the strong mobility of the managers in the garment industry, how to deal with the differences between family management and professional managers and the differences of management concepts are very important at this time. 
 at the beginning of the listing, the king of nine herd was questioned because of the excessive color of his family. According to its prospectus, nine of the 99.35% holdings of stockholders are in the Lin Congying family's shares. The top five shareholders are investment in the nine branches, investment in venture capital, investment in wisdom, investment in platinum, and investment in Chi cube, respectively. 
After P, nine Mu Wang gradually introduced the fund. As of the first half of this year, a total of 4 social security funds held nine Mu Wang, a total of 9 million 791 thousand shares, and some of the bank's securities investment funds. 
 9 Mu Wang has been trying to achieve a balance between family control and professional manager management in recent years. 
 recently, Zhu Jianshi, deputy general manager of nine Mu Wang, resigned, and this is also the fourth deputy general manager who resigned since the listing of King Mu Wang. Moreover, in March 2012, the company changed its chief financial officer, and Chen Zhigao replaced Zhang Jingchun as chief financial officer. 
 in fact, in these five executives who have changed jobs, vice general manager Lin Yuxiong is Lin Congying's father, Zhang Jing Chun is Lin's brother-in-law, while the other three deputy general managers who resigned for personal reasons were hired by Lining from a href= "http:// www.91se91.com" > sports goods < /a > Limited, IBM and PHILPS lighting. 
 a person who once worked in the king of nine herd told the newspaper that the company has done a lot of efforts and achieved good results in introducing professional managers. Lin Congying has also repeatedly expressed in public that he wants to reduce the rule of man in the family business, but it is not so easy to really practice. 
 February 2012, nine Mu Wang launched the equity incentive plan, involving 13 million shares and 150 incentives. 
 and half a month before the release of this incentive plan, Ke Minjian, vice president of HR, whom Lin Congying personally invited, offered to resign. Since then, Ceng Yong and Zhu Jianshi, who have left two, each have 132 thousand incentives to grant shares. The former did not even have to release the sale date when they left. 
 equity incentive, which is interpreted by the market as an incentive for the company's "golden handcuffs", has failed to retain the core staff of the enterprise, and the reason is worth pondering.