Hundred Round Trousers Industry Encounters Waterloo

Less than two years after the listing of "P > hundred round pants industry, the IPO project has changed again.

Recently, the company announced that due to the domestic economic situation and other objective factors have changed greatly, the company's IPO investment project will be postponed for two years.

In this regard, some netizens joked: "100 yuan, the eighteen year old pants industry chiefs entered the climacteric in advance, really pinched a sweat for it."

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< p > < strong > IPO project has been changed again and again, < /strong > /p >

< p > < strong > 100 circle became the "Pinocchio" of the industry. < /strong > /p >

< p > December 8, 2011, 100 round trousers industry listed on the small and medium-sized board, raised a total of 430 million yuan.

In the prospectus, the 100 round trousers industry plans to recruit funds mainly used in < a href= "http://www.91se91.com/" > marketing < /a > network construction projects, including the establishment of Direct stores.

But the development of the industry has been highly dependent on franchisees in recent years. Up to now, 100 yuan has more than 1700 franchises, and even the existing distribution centers of the company are mostly contracted out to local franchisees.

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< p > just when everyone thought that the large-scale joining mode promoted the rapid growth of the 100 circles trousers industry, in July of last year, 100 yuan was too expensive for the house price. The company plans to "buy 16 shops and set up a direct store project" in the marketing network construction project, and change it to "build a strategic store in the three tier city and set up a direct store project in Guangzhou and Nanchang wholly owned subsidiary". At the same time, it changed the original "marketing network construction project from the Guiyang holding subsidiary company to set up a direct store project" to "set up a Wuhan holding subsidiary company to open a direct store project".

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"P" today, the hundred yuan has also changed the above items for two years to December 31, 2015 on the grounds of great changes in the objective factors such as the domestic economic situation.

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< p > hundred round pants industry pointed out that the company's extension to the marketing network construction and information system construction project construction period is based on the current industry development, market conditions and the company's development strategy and so on, and has not changed the content of the recruitment investment project.

This adjustment will not have a substantive impact on the normal production and business development of the company.

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"P >" Zhu Qinghua, a researcher at CIC light industry, said in an interview with reporters, "the delay of 100 round pants industry investment project has a great impact on the industry.

On the one hand, it will undermine investors' confidence in the industry. The company's IPO investment project has been established in 2011, but it has not been implemented after some changes. This will lead to market doubt. On the other hand, the delay of the investment project actually gives investors a signal that the company is struggling ahead and business development is blocked, thereby reducing the expectations of investors for the industry.

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< p > "in recent years, the development of the clothing market is not optimistic. Many garment enterprises have been seriously affected, and the industry of 100 round pants is also hard to do well, and its performance has declined continuously.

In this case, 100 round pants industry investment projects face greater risks, the company postponed the industry is also reasonable.

However, faced with the plight, the hundred round pants industry should not be avoided, and we need to take effective measures to deal with it effectively.

Zhu Qinghua said.

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< p > < strong > decline in performance, < /strong > /p >

< p > < strong > hundred circle trousers industry encountered Waterloo < /strong > /p >

< p > reporter noted that the performance of the company has been declining repeatedly under the background of repeated changes in the 100 round pants industry.

The company's third quarter results show that from 1 to September, the revenue of 100 round pants industry was 9.74% lower than that of last year, and net profit fell by 20.58%. In the three quarter, the single quarter profit dropped by 20.3% compared with last year. At the same time, the net profit in 2013 is expected to decline 10% to 40%.

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< p > in the face of a sharp decline in performance, the 100 round trousers industry will be attributed to the continued downturn in the macro-economy.

Hundred round pants industry believes that the purchasing power of market consumption terminals is low, labor costs, store rental prices continue to rise, market development, terminal operations and other costs are large, the apparel industry as a whole is in a doldrums; in addition, the impact of e-commerce, making direct stores revenue is difficult to achieve the expected level.

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< p > industry insiders say that the domestic economic situation is a major reason for its low performance, but 100 yuan itself is also hard to blame.

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< p > > after nearly a year's opening of "a href=" http://www.91se91.com/news/index_s.asp "garment enterprise < /a > inventory campaign", the reporter learned that compared with the listed companies such as Lining and Anta, which went smoothly on the road to inventory, the stock growth of the hundred circle trousers industry in the first half of this year can be described by "exaggeration".

In a year alone, the stock growth of the industry has reached 118.18%, which has become the "top champion" of A shares listed companies.

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< p > industry insiders pointed out that the 100 billion round trousers industry has been playing the role of franchisee. In the first half of 2009, 2010 and the first half of 2011, the proportion of franchising business reached 98.38%, 95.87% and 91.41% respectively.

Because of the lag of supply chain management, the franchisee mode has brought benefits to 100 circle, and has also become the fatal "short board" of 100 rounds.

By the end of 9 last year, the stock balance of 100 yuan was 92 million 180 thousand yuan, and its inventory turnover days also rose from more than 90 days to more than 140 days, while the average turnover days of general excellent clothing enterprises were about forty or fifty days.

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< p > at the beginning of the 100 round pants industry, its "100 circle" series of products was priced at 100 yuan / piece in the whole country.

Since 2007, the company has launched a series of "Tian Bo hundred circle" series, which has greatly improved the fabric and workmanship on the basis of the original, and the retail price has gradually increased to 180 yuan to 520 yuan.

Recently, the reporter called the "100 round pants industry" as a franchisee. When talking about its positioning, the hundred circle trousers industry described it as follows: "our target customers are mainly 25 to 50 year old consumer groups in the 234 tier cities in China, and they provide them with mid and low price trousers ranging from 180 to 390 yuan. Only a very few special products (lovers) will reach 520 yuan."

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< p > for this reason, Ms. Wang, a consumer of 100 circles trousers industry, complained to reporters: "before seeing a hundred round pants industry, they would go in and stroll without asking the price. Each piece of trousers is 100 yuan, and buying two or three pieces is a common occurrence.

Now the price has gone up, and the time has been less, not because it has gone up by a hundred or eighty yuan, but because the price of the pants is different. Once you pick up a question, you are not used to it.

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< p > < strong > 100 yuan to get rid of difficulties: < /strong > < /p >

< p > < strong > O2O mode or way out? < /strong > /p >

For more than p over the years, the single profit model of the 100 round trousers industry has been criticized by the outside world.

Take the nine shepherd king, who is also based on pants, for example, trousers are no longer the only profit point.

By 2010, nearly nine percent of its total revenue had been produced by the nine shepherd trousers, and its gross product rate of non trousers products was much higher than that of trousers.

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< p > 2010, the income of nine men's trousers was 877 million yuan, accounting for 52.53% of the total income. The jacket occupied 277 million of the income second, plus shirts, T-shirts and other products, which contributed about 47% of the total income.

T-shirts and shirts are more than 60% gross margins higher than men's pants 57% gross margin.

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< p > comparing with nine herd kings, trousers are the main force of 100 yuan's revenue.

In 2010, the income of jeans, trousers and casual pants accounted for 99.7% of the total revenue of the industry, and the casual trousers with the highest gross profit rate were only 36.73%. The gross profit margin of the same kind of products was nearly half that of the nine shepherd products, while the annual income of 100 yuan trousers industry in 2010 accounted for only about 1 billion 670 million yuan of 1/4 of the 1 billion 670 million kings.

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P, and hundred circles are trying to find a change.

Besides trousers, we have also added new belts, < a href= "http://www.91se91.com/news/index_z.asp" > leather shoes < /a > bottompants, socks and other products, but trousers are still our main business.

Hundred circles trousers industry aspect to China enterprise newspaper reporter said.

When asked whether the 100 yuan plan is like the brand of "nine herd king" and so on, we extend shirts, T-shirts and other upper body products. 100 yuan has denied it. "For the time being, we did not consider it. We only need to make some subordinate products when making things."

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