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Can Wangfujing'S Mandatory Purchase Of Spring Department Store "All Channels" Be Able To Save Traditional Department Stores?

2013/12/9 10:31:00 29

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Wangfujing Acquisition Spring Department Stores Online Retailers Retailing Clothing Beijing

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Event .

> a href= "http://sjfzxm.com/news/index_c.asp" > Wangfujing < /a > compulsory acquisition of Spring Department Store /p >

On the night of December 4th P, spring department stores issued a notice at the Hong Kong stock exchange, indicating that the mandatory offer offer for spring department store of Wangfujing international subsidiary Baer Mont has been completed.

Beijing Wangfujing International Business Development Co., Ltd. (hereinafter referred to as "a href=" http://sjfzxm.com/news/index_c.asp "Wangfujing international < /a >") is a commercial investment development company jointly invested by Beijing Wangfujing Dongan Refco Group Ltd (65%), CITIC Industrial Fund (15%), new vision Fund (15%) and city state Management Center (5%).

Public information shows that in January 31st and February 2nd this year, spring department stores and Wangfujing issued a notice to announce that Baer, the controlling shareholder of Wangfujing and the wholly owned overseas subsidiary of Wangfujing international, signed a share pfer agreement with Bluestone, the controlling shareholder of the department store in spring and its acting partner PGL. The former will purchase 1 billion 664 million shares of Spring Department Stores held at the price of HK $1.2 per share and the total amount of HK $1 billion 997 million, accounting for 39.53% of the total share capital.

According to the relevant rules of the stock exchange, the completion of the paction will trigger a mandatory full tender offer aimed at all the shares of listed companies.

Once the purchase ratio exceeds 90%, spring department stores will be privatized by Wangfujing international.

In June 2013, P signed a contract with the controlling shareholder of the spring department store to complete the stock paction with the original controlling shareholder, and issued a takeover offer to the remaining shareholders.

As of August 31, 2013, 96.72% of the total share capital has become the controlling shareholder and actual controller of the department store in spring.

In the evening of December 4th, Spring Department Store announced a notice at the HKEx that the mandatory offer of Baer Mont has been completed.

this is the largest acquisition of domestic department stores in recent years.

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another breakout of Wangfujing > /strong > /p >

in recent years, the traditional retailing industry, which is rare and favorable, has been shocked by the great absorption of Wangfujing.

According to the data, there are 20 stores in spring department store, including 16 spring department stores, 3 Oteri J and 1 Seth shopping centers.

While Wangfujing owns 30 department stores, its sales scale is nearly 22 billion yuan.

After the completion of the acquisition, the total number of stores in Wangfujing reached 50, becoming the largest number of retail companies after Wanda and Parkson.

to the acquisition, the Wangfujing side said that spring department stores had a high reputation among consumers, and had the advantage of complementing brand positioning with Wangfujing department store. In addition, spring department stores, which had abundant operation experience of owes, had opened three stores in Beijing, Shenyang and Qingdao. Reorganization and merger played an important role in the rapid expansion of Wangfujing business in Wangfujing department store.

in the industry view, the scale effect will be formed in a short time to achieve the purpose of "bigger", perhaps just the appearance of this acquisition.

This merger and acquisition is also understood to be another way of breaking out of department stores, such as touches, channels and so on.

although the acquisition of short term is difficult to enhance the performance of Wangfujing, the industry is happy to see such an annexation.

People's livelihood securities research report said, spring stores and stores of department stores have greater strengthening and complementarity with Wangfujing; Wangfujing, as the leader of domestic department stores, has a good demonstration effect on the merger and integration of industries.

Anxin securities Wei Li believes that Wangfujing completed the Spring Department Store acquisition, the future injection is worth looking forward to.

After injection, the impact on Wangfujing is to enrich the formats of the outlets, and the two is the synergy effect of department stores.

in fact, the same way that the merger can affect investors' eyeball is the whole channel that Wangfujing has been promoting.

From the data of brokerage research institutions, the whole channel pformation of Wangfujing is progressing rapidly. At present, a 132 person e-commerce team has been set up. Members have recruited high standards through recruiting headhunting, covering various fields, and built an electronic business platform: adopting the IBM WCS platform with high cost and high overall capability, which meets the company's overall strategic needs, can complete all the store's WIFI laying before the Spring Festival, fully introduce in store location system, mobile phone certification stores, and also have 9 stores APP on-line; and cooperate with WeChat, will realize WeChat payment and membership pformation.

Xu Xiaofang, a securities firm of CIC, firmly believes that the path of pformation of the whole channel of Wangfujing is tortuous but has a bright future.

According to its prediction, Wangfujing will plan to use three years to complete the pformation of the whole channel. It will be ready in 2013, implemented in 2014, and put into place in 2015.

News memory /p >

> strong > spring department store was the pronoun of "tall upper" .

P has been keen to acquire spring stores in China's high-end department stores through acquisitions, so it has been bought by others.

At 9 a.m. on December 5, 2013, the spring department store of "high-end, atmosphere and upper class" was gloomy from the Hongkong stock exchange.

In December 15th, four years ago, in the spring, department stores landed on the stock exchange, and the stock price rose 30% on the first day.

At that time, although the impact of the global economic crisis existed, the retail industry still showed relatively rapid growth due to the huge domestic consumption potential, and the national development and Reform Commission set the target of retail sales growth at that time to 14%.

From P to January 2013, the market value of department stores reached 4 billion 590 million Hong Kong dollars in spring.

Under the increasingly cold climate, the revenue data of spring department stores are getting worse. The department store, which owns 16 stores and 3 outlets, earned 1 billion 289 million yuan in 2012, an increase of 0.9% over the previous year and a net profit of 156 million yuan, down 50% from the same period last year. P

> a href= "http://sjfzxm.com/news/index_c.asp" > traditional retail trade < /a > encounter shop tide /p >

In the 2013, the days of traditional retailing were more and more sad than P.

In the past November, Tmall Taobao's "double 11" 50 billion yuan sales Carnival made traditional retail industry suffer another setback.

according to the industry, the traditional retail industry has ushered in "turning point" since the second half of 2010. In 2011, the decline was clear. After two years, it had already suffered from the cost of rent, manpower, logistics and so on. Under the impact of e-commerce, the crisis was overhanging.

In 2012, the number of new stores opened by China's top 100 chain stores dropped to its lowest level in ten years.

closing shop tide arrives unexpectedly.

In the first half of 2013, the Wangfujing shop in Jinsong was forced to close due to heavy losses. The hQ Shang Ke department store under the Wangfujing department store also announced that it would close its shop and withdraw from the Zhong Kun square of the Great Bell Temple.

The low atmosphere also spread in the sporting goods industry. In 2012, the number of stores in Lining decreased by 1821. At the same time, Anta, PEAK and PEAK closed more than 3800 stores.

Foreign retailers are also not immune. Since last year, many foreign retail outlets such as Tesco, WAL-MART, Carrefour and others have been slowing down and closing stores in Hua Kuozhang.

In April this year, WAL-MART encountered the embarrassment of 3 stores. In October 15th, WAL-MART announced that it would close 15-30 stores in the Chinese market in the next 18 months, accounting for nearly 9% of the number of WAL-MART stores in China.

Carrefour shut down 6 stores in the Chinese market as early as 2010.

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trend

< < a href= > http://sjfzxm.com/news/index_c.asp > > whole channel < /a > can save the traditional department store /p >

the theory of "cold winter", "fatigue theory" and "inflection point" came one after another.

Faced with the trend of irreversible industrial development, how to break through the traditional retail business has become a hot topic for all retail entities.

facing the impact of e-commerce, most traditional retailers first choose to build their own e-commerce platform.

Since 2010, including Huarun Wanjia, Milian Mi, bu bee lotus, Tianhong Mall (quotes, interrogation), new world (quotes, inquiring) department stores, spring department stores and so on, retail enterprises have opened up the curtain of physical retail business.

This year, the supermarket industry once again launched the second round of OCS boom.

From Tesco, Yong Hui, Verma Sam's member stores, big RFA, to BBK (market, interrogation), self built electronic business platform, and stores as online logistics distribution center.

Although physical retailing is constantly joining the electricity supplier, its operation is not optimistic.

when most of the traditional retail outlets in China become furnishings, the industry begins to shift its vision to "full channel retailing".

The so-called "full channel" refers to the traditional retailers are also integrating different channels into an integrated seamless experience of "all channels", using all channels to interact with customers, including websites, physical stores, service terminals, direct mail and catalogues, call centers, social media, mobile devices, game consoles, televisions, network appliances, door-to-door services, and so on.

These channels integrate and echo each other and become an omnibearing marketing force.

The theory of the whole channel mode is based on the advantages of online shopping, such as wide selection, easy search, affordable price, convenient comparison, and convenient shopping location.

The advantage of a physical store is that it can provide face-to-face personal services. Customers can touch goods and have a full range of perception, and consider shopping as an activity and experience.

Today's customers want two benefits.

in order to comply with the trend, more and more retailers are reborn.

In February 2013, Suning Appliance officially changed its name to Su Ningyun business (market, interrogation). Suning chairman Zhang Jindong explained that the so-called "cloud business" model can be summarized as "shop operators + electricity providers + retail service providers".

P, the industry believes that this will mean that the boundaries of online retailers and ground retailers will become increasingly blurred.

However, the whole channel is now regarded as an ideal direction for the pformation of traditional retail enterprises in the future, but so far there are few companies with excellent resources.

That is to say, there is still a long way to go for large-scale promotion from the whole channel, and the future of traditional retail is still full of variables.