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Will Sports Apparel Business Achieve BELLE?

2014/7/4 16:16:00 30

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> the world's < a href= "http://www.91se91.com/" target= "_blank" > dress < /a > a href= "http://www.91se91.com/" target= "http://www.91se91.com/". "Xiao", "hat" net, is introduced to the movement, namely, the "Sports", "the", "the", "clothing" or "BELLE".

Less than P, BELLE international, known as the "big crocodile" of women's shoes, has a very important business.

In many domestic department stores, there are many shops in Nike and Adidas, which are operated by BELLE international.

BELLE international, known as the "big crocodile" of women's shoes, has a very important business, namely sports and clothing products.

In many domestic department stores, there are many shops in Nike and Adidas, which are operated by BELLE international.

according to BELLE International's annual performance for the 14 months ended 2 months ending 2014, its sports and clothing business income was 16 billion 674 million 900 thousand yuan, up 19.1% from the 14 billion 6 million 500 thousand yuan at the end of February 2013.

Compared with the 5.04% increase in the same period of women's shoes business, this revenue growth is very eye-catching.

to a certain extent, under the background of the sharp slowdown in the growth of footwear business revenue, sports and apparel business have played the role of "BELLE".

2010-2013 years, the income increase was 12%-20%, better than the local sports brand /p >

footwear business is mainly based on its own brand management. BELLE International's sports and apparel business is currently dominated by distribution agents. Its distribution agents include brands such as Nike, Adidas, PUMA, Converse and Mizuno.

Among them, the sales of two brands of Nike and Adidas account for about 90% of the total sales volume of BELLE international sports and clothing business.

by the end of 2014 2, the proportion of sports and clothing business accounted for 38.7% of BELLE's total international revenue.

It was 2.9 percentage points higher than 35.8% in the same period last year.

Its gross profit margin was 39.5%, up 2.3 percentage points from 37.2% in the same period last year.

BELLE International said that the growth of the group's sports and apparel business was mainly due to relatively good sales growth in the same store.

During the same period, the same store sales increased by about 6%, and the contribution of the unit price increase and the volume growth was almost half. The performance of two categories of sports shoes and sportswear was roughly the same.

at the same time, it is driven by the Big Step business of group mergers and acquisitions.

March 2012, BELLE international acquired all the shares of Big Step and increased its pioneering efforts in the domestic sports and leisure market.

Big Step is a sports brand distribution company in China. It mainly sells, sells Nike and Adidas brand products in the domestic market, and has 600 self operated stores.

BELLE International believes that the acquisition will enhance BELLE's strategy and channel layout in some regional markets, and because the business of both sides is basically the same, the scale effect can be produced and the procurement cost can be reduced after the acquisition.

at that time, due to the intense competition in the domestic sports and clothing industry, a number of local sports brands such as Lining and Anta had already started serious situation of high inventory, large scale shop closing and terminal sales discounts. Therefore, they were cautious about the acquisition of many coupons.

But the data show that the acquisition effect of the business began to emerge in 2013.

Big Step started a consolidated statement from the second quarter of 2013, contributing to more than 10 percentage points of sales growth.

in addition, there are two main reasons for the increase in gross margin, one is the benign industry inventory, the general promotion environment is normalized, the discount rate gradually returns to normal, and the two is that the branding gives more subsidies and support to distributors, effectively reducing the cost of products.

in fact, over the past 3 years, a number of local sports brands have been in "deep water". Since the second half of 2011, their revenues and net profits have declined to varying degrees, and the terminal stores have also been shut down on a large scale.

But BELLE International's sports and clothing sales revenue has maintained a good growth.

earnings showed that in the past 2010-2012 years, the income of sports and clothing businesses under the "a href=" http://www.91se91.com/news/index_f.asp "BELLE" > http://www.91se91.com/news/index_f.asp "/a" were 9 billion 56 million 500 thousand yuan, 10 billion 412 million 100 thousand yuan and 11 billion 813 million 700 thousand yuan respectively, representing a growth rate of 12.8%, 15% and 13.5% respectively.

On the shop side, by the end of 2011, BELLE International's sports and clothing self-service stores reached 4680, with 1025 net shops added throughout the year.

At the end of 2012, its number was 5474, with 794 shops opened throughout the year.

this contrasts sharply with the decline of the performance of the major local sports brands during this period.

Taking 2012 as an example, according to the annual report, Anta sports turnover of the leader was 7 billion 620 million yuan, down 14.4% compared to the same period last year, and net profit was 1 billion 358 million 700 thousand yuan, a sharp decrease of 21.5% compared to the same period last year.

In the same year, Lining, Anta, PEAK, China trends, XTEP, the 5 major brands of the total number of stores close to 5000, of which Lining brand stores 1821, PEAK stores 1323, China's trend shop 1101, Anta stores closed 590, XTEP shop 86.

as of the end of February 2014, the number of self operated retail outlets of BELLE International's sports and clothing business was 5925, of which Nike and Adidas accounted for 4878 total retail outlets, while the total number of self operated retail outlets of PUMA, Converse and Mizuno amounted to 1047.

Among them, there are 451 retail outlets.

but it needs to be pointed out that due to the merger of new Big Step business, there will be a total increase of more than 500 stores.

Excluding this factor, it is also affected by the business adjustment in the big environment, and the number of retail outlets in sports and clothing business period is slightly reduced.

BELLE international has pointed out that the main reasons for this situation are: first, because of the no longer operation of individual brand businesses, more than 200 shops have been closed during the period.

Secondly, during the merger and acquisition process, the group optimized and adjusted the overall store structure in the second, third quarter of 2013, closing a small number of shops.

The adjustment was completed at the end of the third quarter of 2013, and the fourth quarter opened the normal expansion of sports and clothing business.

strong > 4 pressures remain, but still optimistic about Nike and ADI's growth potential /p >

in fact, the overall sports apparel market is facing more challenges.

For local sports brands, the pressure is mainly on the digestion of inventory, the drop in store efficiency and the high cost.

Although BELLE international agency operates mainly in international sports brand, it is also under heavy pressure. Its main pressure comes from four aspects:

one is that the clothing category of Nike and Adidas in the Chinese market has been greatly impacted by the international leisure brands and fast fashion brands, the business growth is weak and the market share is declining.

two is the department store channel in recent years, gradually adjusting the sports area, a few shopping centres give up sports business, many shopping malls shrink the area of sports brand counters, and cause pressure on terminal retail.

three is the high cost of inventory purchase, the narrow margin of Maori space, and the continuous rise of current costs. The profit margins have been significantly squeezed. Some regional distributors are short of funds, and it is difficult to continue normal business activities, which has a greater impact on terminal sales.

four is the order pattern of futures system and the stronger brand tradition, which leads to the phenomenon of excessive orders. It is easy to solve the problem when the market is growing at a high speed. However, in the background of weak market and slow growth in recent years, unreasonable orders directly cause accumulation of goods in the channel, which not only affects the structure of goods and sales of single stores, but also causes pressure on gross profit.

BELLE International believes that these challenges are "structural challenges" of the market and are unlikely to change significantly in the short term.

Nevertheless, BELLE international is still confident of its sports and apparel business.

in BELLE International's view, the current international brand of sports shoes has strong competitiveness and relatively good growth.

At the same time, the brand advantage of the international first-line sports brand is obvious, not only in the traditional department store channel, but also in the emerging shopping mall channel, which has the ability to maintain and expand the retail space.

in fact, BELLE international has no foundation for the long-term growth of Nike and Adidas in the domestic market.

earnings data show that as at the end of 2 2014, the revenue of Nike and Adidas (according to the sales contribution within the group, BELLE international referred to as the first line brand) was 14 billion 783 million 400 thousand yuan, the growth rate was 19.4%, the proportion of the group's total revenue was 34.3%, PUMA, Converse and Mizuno (according to the sales contribution within the group, BELLE international referred to as the second-line brand) earned 1 billion 702 million 100 thousand yuan, the growth rate was 10.8%, the proportion of the group's total revenue was 4%, the income of other sports apparel business was 189 million 400 thousand yuan, although the proportion of the group's total income was 0.4%, but it became a new growth point of the group, a sharp increase of 105.4% over the same period.

in 2013, the income of Nike and Adidas was 12 billion 378 million 800 thousand yuan, which accounted for 31.7%% of the total income of BELLE International Group, and the income of brands such as PUMA, Converse and Mizuno was 1 billion 535 million 500 thousand yuan, accounting for 3.9% of the group's total revenue.

2012, the income of Nike and Adidas was 10 billion 434 million 300 thousand yuan, the growth rate was 15%, the proportion of the total income of BELLE international group was 31.8%, the income of brands such as PUMA, Converse and Mizuno was 1 billion 300 million yuan, the growth rate was 5.8%, accounting for 4% of the group's total revenue.

2011, the income of Nike and Adidas was 9 billion 75 million 500 thousand yuan, the growth rate was 16.3%, and the income of brands such as PUMA, Converse and Mizuno was 1 billion 229 million 200 thousand yuan, the growth rate was 7%.

It can be found that BELLE International's Nike and Adidas revenue growth is significantly higher than other international brands.

BELLE International said that the demand for sports apparel products, especially professional and functional products, will continue to expand for a long period of time with the increasing income of Chinese consumers, the increasing participation in sports and the further maturity of consumption habits.

The international first-line sports brands such as Nike and Adidas will continue to improve their share in the Chinese market by virtue of its strong a href= "http://www.91se91.com/news/index_s.asp" brand "/a" appeal and leading research and development, rich product lines and superior supply chains.

The group, as the main partner of these brands in China, is confident that it will continue to invest more, improve the quality of its operations, and strengthen cooperation with brands so as to achieve profitable and high-quality long-term growth.