Women'S Shoe Giant BELLE'S Performance Slipped

< p > BELLE's net profit growth slowed to 4.43%, Daphne's net interest rate is expected to drop to low single figures, and Saturday and 100 billion net profit declines exceed 20%.

With the release of the basic financial data of the four major listed companies in 2013 last week, the a target= "_blank" href= "http://www.91se91.com/" > shoes < /a > industry has been further enlarged from 2012's "midsummer" directly into the autumn.

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< p > 2013, the women's shoes industry has entered the channel of revenue and profit growth slowing down. At the same time, the grand opening up of 2012 has no longer been replaced by cautious expansion or even a large-scale shutdown.

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< p > after having experienced the "rapid march" in the past few years, the women's shoes industry has relied heavily on the expansion of stores in the past.

How to pform and upgrade this proposition is imminent.

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< p > < strong > store expansion is no longer < /strong > /p >

Less than p years ago, the shoe industry's high inflation days are no longer there.

This is evident from two leading enterprises.

BELLE's revenue and net profit were 36 billion 249 million and 4 billion 490 million respectively, although the growth of 10.32% and 3.2% has reversed the decline in net profit in the first half of the year. However, the growth of BELLE footwear business is not as good as before, and 5.9% of its revenue growth is further slower than that in the first half of the year.

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< p > and the situation of Daphne is even worse.

It only expects revenue to balance with 2012, while net profit is expected to fall significantly, with net profit margins only low.

In 2012, Daphne's revenue grew 22.8% to HK $10 billion 500 million, an increase of 22.8% over the same period, a net profit of HK $950 million and a net profit margin of 9.05%.

As for the second tier, Saturday's shoe industry and 100 billion net profit fell by 30%.

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< p > it is noteworthy that in the past few years, the rapid expansion of a href= "http://www.91se91.com/news/index_x.asp" > women's shoes > /a > the volume of enterprise's sales volume has been driven by the crazy expansion.

And the main reason behind its decline in revenue growth is the fall in the pace of expansion.

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BELLE, P, has increased by 1039 stores last year, but it has slowed by half since compared with 2614 in 2012.

In 2012, there were 418 new stores, but in 2013 it dropped to 120.

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< p > however, the number of Daphne stores last year did not increase or decrease, and its number of stores decreased by 50 last year.

And its stores increased by 767 in 2012.

In fact, in the first three quarters of the year, Daphne's stores basically showed expansion, with a net increase of 195 stores.

By the fourth quarter, however, Daphne had closed its stores in large numbers.

In the quarter, the number of Daphne outlets decreased by 222, and the number of franchisees decreased by 23.

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< p > the main reason for such a situation is that the pformation of retail channels has been quietly accelerating. With the continuous emergence of new shopping centers and the vigorous development of e-commerce, people in the department store mall, which have been relying heavily on shoes, have already encountered diversion.

This is the common reason for the industry.

The problem has been magnified as the expansion of stores has slowed down.

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Xiong Xiaokun P, a light industry researcher at CIC, believes that this is also related to the extensive expansion of the major shoe companies in 2012.

At present, the development of online channels is good, and most offline stores have become consumers' "shoes testing rooms". In this case, the expansion of offline stores has a certain departure from the market development trend.

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< p > BELLE conceded in the annual report that the department store channel itself, due to the rapid expansion of the past few years, objectively exists the difficulty of new store efficiency and the dilution of passenger flow in the old shop. It needs a certain amount of time to cultivate and digest.

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< p > < strong > the battle of online channels is opened. < /strong > < /p >

< p > in the past, the mode of rapid sales growth caused by the rapid expansion of stores has been interrupted. Why is the growth momentum of the industry in 2014? In the earnings conference, BELLE chief executive Sheng Bai Jiao pointed out that the overall slowdown in BELLE's sales growth is not a cyclical one, but a structural one. The biggest test now lies in how to adapt and develop new channels.

Under the background of the overall growth rate, every enterprise is suddenly rising in the growth of the electricity supplier.

The volume of shoe sales on Saturday increased rapidly from 27 million 225 thousand yuan in 2011 to 107 million yuan in 2012, accounting for 6.82% of its total revenue in 2012, which allowed it to set up an online marketing business for e-commerce companies in December last year.

And in 2013, it also mentioned that it will cooperate with the third parties to set up an online sales platform for products.

In the 2013 fiscal year, BELLE's excellent purchase and BELLE's electricity business revenue reached 1 billion 100 million yuan, although it accounted for less than 5% of the total revenue of the company, but grew by 50% over the same period.

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< p > Xiong Xiaokun believes that enterprises should have breakthroughs in channels and product categories to get new profit points.

The development trend of the industry in 2014 will be that the major shoe companies compete for online channels and actively develop the O2O mode.

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< p > although everyone is trying to develop e-commerce, e-commerce is also a hard nut to shoe company.

As an early layout of the electricity supplier BELLE, its electricity supplier's road is not very smooth.

BELLE was the first Tmall to enter the business. Then BELLE set up an independent B2C Amoy net selling BELLE's brand merchandise while distributing online.

In July 2011, BELLE invested in creating B2C, an independent shoe and clothing brand.

Since then, the platform has been among the top three of footwear B2C. After that, it has been renamed as the best buy Fashion Mall. At the same time, a number of international first-line brands have been introduced to expand the business to < a target= "_blank" href= "http://www.91se91.com/" > dress < /a > category.

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< p > as for the specific profitability of the electricity supplier, BELLE did not disclose it.

But in 2013, when it announced half a year's report, BELLE said it had cut its 30%-40% in the first half of the year and expected to reverse losses in the next 1-2 years.

Last year, BELLE CMO (Chief Marketing Officer) Xu Lei, senior vice president Xie Yunli, COO (chief operating officer) Zhang Xiaojun resigned, and the loss of executives just reflected the "throes" of Chinese traditional enterprise pformation network platform providers.

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< p > BELLE's early layout results have not been as satisfactory as expected, which makes the successors pressure.

According to the semi annual report on Saturday 2013, sales in the first half of 2013 reached 65 million 788 thousand and 500 yuan, up 103.75% from the same period last year, but the gross profit margin was only 25.65%, down 4.2% from the same period last year.

The gross profit of its main products dropped by 2.84%, but also 46.41%.

This means that the sale of the Internet on Saturday will be increased by a larger discount.

On Saturday, Internet sales also played an important role in expanding market share, clearing inventory and improving inventory structure.

As of June 30, 2013, its inventory amounted to 1 billion 79 million yuan.

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< p > Xiong Xiaokun believes that enterprises should have breakthroughs in channels and product categories to get new profit points.

First, it is necessary to actively expand online channels, and online channels play an important role in promoting enterprises to digest seasonal inventory. Second, we need to consider increasing footwear varieties, such as extending children's shoes.

In addition, by enhancing the professional collocation knowledge of salesmen, the service level can be improved to attract consumers.

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< p > < strong > related reports < /strong > < /p >

< p > < strong > there are still a lot of shops closing down this year, < /strong > < /p >.

The market downturn in 2013 P will continue in 2014.

"The establishment of a large number of offline stores will aggravate market supply and raise operating costs, which is not conducive to the rapid development of enterprises in a depressed market environment. There will still be a lot of shops closing up in 2014."

An industry official told reporters in Nandu.

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< p > BELLE also intends to control the growth rate of stores.

"In the next two or three years, the group hopes to keep pace with 2013."

BELLE said in its earnings report.

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< p > Xiong Xiaokun believes that closing offline stores with low profitability is conducive to the optimization of enterprise structure and is beneficial to enterprises in the long run.

"With the decrease in the number of stores, the scale of single stores will tend to expand, and factory stores and flagship stores will increase."

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< p > and such a trend has entered the industry earlier than the shoe industry by adjusting its < a target= "_blank" href= "http://www.91se91.com/" > clothing /a > industry.

For example, last year, there was already a comprehensive store testing water.

And Nandu reporters learned that, with many well-known clothing brands such as Europe, FIVEPLUS, and other well-known brands, Heji group's integrated store has entered into Tai Koo Hui.

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< p > BELLE also mentioned in its earnings report, aiming at Shopping Mall Road, it will build a multi brand store pattern, and effectively allocate the rent and enrich the commodity choice in larger space.

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