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Lining And Jin Zhenjun: "The Tyrant Bonus" Is Disappearing.
< p > > International a href= "http://sjfzxm.com/news/index_h.asp" > brand > /a > in expanding the site, local brands have regained growth. Transformation 2nd anniversary, what are Lining busy with? Change operator's exclusive interpretation to rebuild the brand's logic. < /p >
< p style= "text-align: center" > img border= "0" alt= "align=" center "src=" /uploadimages/201407/08/20140708040057_sj.JPG "/" < < > >
< p > < strong > Lining Jin Jun Jun < /strong > /p >
"P" "two years, I sleep less time, white hair more." Jin Zhenjun smiled and pointed to the sideburns. < /p >
< p > July 5, 2012, Li Ning Co announced the restructuring of management. Jin Zhenjun, a partner of Private Equity Investment Firm TPG (Germany Pacific Investment), was spanferred as executive director and executive vice president (acting chief executive officer in March 2014). He led the reform plan with Lining himself, mainly responsible for internal affairs and operations, which lasted just 2nd anniversary. < /p >
< p > two years, < a href= "http://sjfzxm.com/news/index_h.asp > > Lining < /a > the performance of the company bottomed out. In the 2013 fiscal year, the income was 5 billion 824 million yuan, gross profit reached 2 billion 594 million yuan, up 3.2% compared with the same period last year, the gross gross profit margin was significantly improved to 44.5% compared with 2012 37.7%, and a number of forward-looking business indicators improved: the direct retail sales accounted for 1/3 of the sales of the Lining brand, and the proportion of new products in the channel inventory rose to 2011 levels. However, in the 2013 fiscal year, revenues continued to decline, and profits were not realized. The accounting results of investment changes need to be reflected. Only local sports brands announced that the spanformation was completed and the growth was regained. < /p >
< p > is it not urgent for Lining, the first to announce the spanformation? < /p >
< p > "enterprise spanformation is no easy task. Successful spanformation of business models and business models will take years to complete." Jin Zhenjun told the twenty-first Century Business Review (21CBR) that when he shares the difficult spanformation process with 21CBR, he is confident that the good news will increase in the coming months. At the same time, he will not forget to remind Chinese Enterprises: "the era of making quick money has gone, the competition environment is becoming more and more difficult, and the next generation of enterprises must start spanformation as soon as possible." < /p >
< p > < strong > card position "middle end" < /strong > < /p >
Since P 2012, extensive wholesale mode and inventory pressure under excessive expansion have been regarded as a chronic illness in sports industry. The spanformation to retail mode and inventory clearance are commonly regarded as the central tasks of various companies. In the road map of Jin Jun Jun's plan, "rectifying the channel and going to stock is only a secondary goal". Grasping the opportunity of spanformation of China's sporting goods consumption structure is the key to decode Lining's layout. < /p >
< p > "in the past, the market structure of sports industry is a typical dumbbell structure, that is, the market volume of both high-end brands and local low-end brands is very large, and the development of medium price market is relatively slow." Jin Zhenjun told 21CBR reporters that basketball shoes, for example, sold over 500 yuan or below 300 yuan to form a mainstream consumer market, while the 300-500 yuan retail price of the middle end market, the overall body weight is relatively small, which is quite different from the mature market "Pyramid type" brand structure. {page_break} < /p >
< p style= "text-align: center" > img border= "0" alt= "align=" center "src=" /uploadimages/201407/08/20140708040111_sj.JPG "/"
< p > "in the United States, basketball shoes are generally more than 200 U.S. dollars, it is difficult to start sales, even the more powerful star endorsement is useless, after all, basketball shoes are not luxury goods, pay attention to the real functionality, but Chinese consumers are willing to pay for thousands of international brands, or even pay the price far higher than abroad." In Jin Zhenjun's view, mainland consumers admire international brands. Besides the endorsement of international brands, they also have a high growth stage of consumer psychology. For example, the dumbbell distribution in China's automobile market is very typical. "Some luxury car brands in the same category, in China, the price is two to three times higher than that in the United States, and many people still accept it. Because luxury car brand is a symbol of dignity and dignity, there is the so-called "local Hao psychology", and there is no substitute for high quality brand in China. Kim Jin Jun, who once led Guanghui automobile (China's largest group of car dealerships), explained. < /p >
< p > "mature economies, almost all industry brand distribution is Pyramid type, a small number of people buy high-end products, the general public choose brand based on cost performance, return to consumer demand." Such a creed has helped Kim Kim chun to succeed in business practice. About 10 years ago, Kim Chun Chun, who led the DELL in South Korea and led the change, launched the first notebook with a price of around $1000. At that time, high-end consumers chose more than $2000 notebooks, and the economic consumers bought hundreds of dollars of desktop PC. "The peers said that the middle end market did not exist at all, and I think consumers lack the products with the right price." as a result, the thousand dollar notebook market was growing rapidly and became the main force of the Korean PC market at that time. < /p >
< p > in the Chinese market, will the rich Chinese consumers not choose the leading international brand at once? Jin Zhenjun believes that good products are the king's way. "The number of professional sports enthusiasts in China is very large. Our research shows that they are increasingly concerned about the function and design of goods." Sporting goods dealer Zhang Qing has similar impressions. He told 21CBR reporter: "in the past, consumer habits always bought new products at a brand store. Now the brand stickiness is weakening. Quite a few people can distinguish materials and designs professionally, so long as good goods have the opportunity to sell." < /p >
< p > < a href= > http://sjfzxm.com/news/index_h.asp > Lining brand > /a > what we want to grasp is the opportunity for the masses to return to rational consumption. < /p >
< p > in many sports brands, Li Ning Co's "card position" is very unique. Take basketball shoes as an example, from 299 yuan entry level products to 999 yuan high-end products, to achieve seamless coverage, consumers at the middle end price have been their core markets, and the price of their main products is concentrated in the price range of 300-450 yuan, in which the company occupies a market share of about 37%. "The high cost structure and wholesale mode of international brands will weaken its role in the middle end market, while most local manufacturers' brand influence and product innovation capability are hard to support their prices to go up again." Jin Zhenjun said. < /p >
< p > however, Lu Jun, partner and managing director of Boston consulting company, observed: "in recent years, international brands have paid great attention to the penetration of mid end products, their product line layout is very comprehensive, and there are also entry-level products that offer people's price." In his view, the key to the success of local brands lies in brand story, innovation ability and product quality. < /p >
< p > Lining has a real brand story. "Lining brand is built by an Olympic champion. It is a real national brand. Consumers respect the founder of the company very much." As a partner of TPG, Jin Zhenjun is blunt. Lining's brand uniqueness is the key reason for TPG's huge investment. So how can Lining improve the persuasiveness of products? {page_break} < /p >
< p > < strong > "shotgun" to "snipe" < /strong > /p >
< p > Lu noted that the industrial environment of sporting goods industry is undergoing major changes. "In the past, sportswear was applied to various life scenes, carrying a large number of casual clothes. Now, a large number of fast fashion brands are emerging, and the division between sports and leisure is becoming clearer." < /p >
< p > in Ren Guoqiang, partner of Roland Berger consulting management company, the industry is developing to the professional sports field. The professional advantage of the international brand is more obvious. "Sports equipment emphasizes professionalism, research and development ability and athlete resources are particularly important. In basketball and other fields, the top resources are basically controlled by international brands." Indeed, in the past 2011-2013 years, the sales of international brands in the Greater China region generally increased, Nike grew by 19%, and Adidas's growth rate was 34.7%. < img border= "0" alt= "" align= "center" src= "/uploadimages/201407/08/20140708040240_sj.JPG" / < /p >
< p > local brand has always regarded "high performance price ratio" as a coping strategy, that is, goods of the same quality are low in price. However, if the product follows the trend, it will not necessarily be a sustainable strategy in the long run. If the international brand is generally operated globally, its comprehensive cost is not higher than that of the local brand. The continuous adoption of this strategy will weaken the profitability of the enterprise, and the product line of the international brand is constantly exploring, and there is no shortage of cost-effective products. Ren Guoqiang said. < /p >
< p > < /p >.
< p style= "text-align: center" > img border= "0" alt= "align=" center "src=" /uploadimages/201407/08/20140708040057_sj.JPG "/" < < > >
< p > < strong > Lining Jin Jun Jun < /strong > /p >
"P" "two years, I sleep less time, white hair more." Jin Zhenjun smiled and pointed to the sideburns. < /p >
< p > July 5, 2012, Li Ning Co announced the restructuring of management. Jin Zhenjun, a partner of Private Equity Investment Firm TPG (Germany Pacific Investment), was spanferred as executive director and executive vice president (acting chief executive officer in March 2014). He led the reform plan with Lining himself, mainly responsible for internal affairs and operations, which lasted just 2nd anniversary. < /p >
< p > two years, < a href= "http://sjfzxm.com/news/index_h.asp > > Lining < /a > the performance of the company bottomed out. In the 2013 fiscal year, the income was 5 billion 824 million yuan, gross profit reached 2 billion 594 million yuan, up 3.2% compared with the same period last year, the gross gross profit margin was significantly improved to 44.5% compared with 2012 37.7%, and a number of forward-looking business indicators improved: the direct retail sales accounted for 1/3 of the sales of the Lining brand, and the proportion of new products in the channel inventory rose to 2011 levels. However, in the 2013 fiscal year, revenues continued to decline, and profits were not realized. The accounting results of investment changes need to be reflected. Only local sports brands announced that the spanformation was completed and the growth was regained. < /p >
< p > is it not urgent for Lining, the first to announce the spanformation? < /p >
< p > "enterprise spanformation is no easy task. Successful spanformation of business models and business models will take years to complete." Jin Zhenjun told the twenty-first Century Business Review (21CBR) that when he shares the difficult spanformation process with 21CBR, he is confident that the good news will increase in the coming months. At the same time, he will not forget to remind Chinese Enterprises: "the era of making quick money has gone, the competition environment is becoming more and more difficult, and the next generation of enterprises must start spanformation as soon as possible." < /p >
< p > < strong > card position "middle end" < /strong > < /p >
Since P 2012, extensive wholesale mode and inventory pressure under excessive expansion have been regarded as a chronic illness in sports industry. The spanformation to retail mode and inventory clearance are commonly regarded as the central tasks of various companies. In the road map of Jin Jun Jun's plan, "rectifying the channel and going to stock is only a secondary goal". Grasping the opportunity of spanformation of China's sporting goods consumption structure is the key to decode Lining's layout. < /p >
< p > "in the past, the market structure of sports industry is a typical dumbbell structure, that is, the market volume of both high-end brands and local low-end brands is very large, and the development of medium price market is relatively slow." Jin Zhenjun told 21CBR reporters that basketball shoes, for example, sold over 500 yuan or below 300 yuan to form a mainstream consumer market, while the 300-500 yuan retail price of the middle end market, the overall body weight is relatively small, which is quite different from the mature market "Pyramid type" brand structure. {page_break} < /p >
< p style= "text-align: center" > img border= "0" alt= "align=" center "src=" /uploadimages/201407/08/20140708040111_sj.JPG "/"
< p > "in the United States, basketball shoes are generally more than 200 U.S. dollars, it is difficult to start sales, even the more powerful star endorsement is useless, after all, basketball shoes are not luxury goods, pay attention to the real functionality, but Chinese consumers are willing to pay for thousands of international brands, or even pay the price far higher than abroad." In Jin Zhenjun's view, mainland consumers admire international brands. Besides the endorsement of international brands, they also have a high growth stage of consumer psychology. For example, the dumbbell distribution in China's automobile market is very typical. "Some luxury car brands in the same category, in China, the price is two to three times higher than that in the United States, and many people still accept it. Because luxury car brand is a symbol of dignity and dignity, there is the so-called "local Hao psychology", and there is no substitute for high quality brand in China. Kim Jin Jun, who once led Guanghui automobile (China's largest group of car dealerships), explained. < /p >
< p > "mature economies, almost all industry brand distribution is Pyramid type, a small number of people buy high-end products, the general public choose brand based on cost performance, return to consumer demand." Such a creed has helped Kim Kim chun to succeed in business practice. About 10 years ago, Kim Chun Chun, who led the DELL in South Korea and led the change, launched the first notebook with a price of around $1000. At that time, high-end consumers chose more than $2000 notebooks, and the economic consumers bought hundreds of dollars of desktop PC. "The peers said that the middle end market did not exist at all, and I think consumers lack the products with the right price." as a result, the thousand dollar notebook market was growing rapidly and became the main force of the Korean PC market at that time. < /p >
< p > in the Chinese market, will the rich Chinese consumers not choose the leading international brand at once? Jin Zhenjun believes that good products are the king's way. "The number of professional sports enthusiasts in China is very large. Our research shows that they are increasingly concerned about the function and design of goods." Sporting goods dealer Zhang Qing has similar impressions. He told 21CBR reporter: "in the past, consumer habits always bought new products at a brand store. Now the brand stickiness is weakening. Quite a few people can distinguish materials and designs professionally, so long as good goods have the opportunity to sell." < /p >
< p > < a href= > http://sjfzxm.com/news/index_h.asp > Lining brand > /a > what we want to grasp is the opportunity for the masses to return to rational consumption. < /p >
< p > in many sports brands, Li Ning Co's "card position" is very unique. Take basketball shoes as an example, from 299 yuan entry level products to 999 yuan high-end products, to achieve seamless coverage, consumers at the middle end price have been their core markets, and the price of their main products is concentrated in the price range of 300-450 yuan, in which the company occupies a market share of about 37%. "The high cost structure and wholesale mode of international brands will weaken its role in the middle end market, while most local manufacturers' brand influence and product innovation capability are hard to support their prices to go up again." Jin Zhenjun said. < /p >
< p > however, Lu Jun, partner and managing director of Boston consulting company, observed: "in recent years, international brands have paid great attention to the penetration of mid end products, their product line layout is very comprehensive, and there are also entry-level products that offer people's price." In his view, the key to the success of local brands lies in brand story, innovation ability and product quality. < /p >
< p > Lining has a real brand story. "Lining brand is built by an Olympic champion. It is a real national brand. Consumers respect the founder of the company very much." As a partner of TPG, Jin Zhenjun is blunt. Lining's brand uniqueness is the key reason for TPG's huge investment. So how can Lining improve the persuasiveness of products? {page_break} < /p >
< p > < strong > "shotgun" to "snipe" < /strong > /p >
< p > Lu noted that the industrial environment of sporting goods industry is undergoing major changes. "In the past, sportswear was applied to various life scenes, carrying a large number of casual clothes. Now, a large number of fast fashion brands are emerging, and the division between sports and leisure is becoming clearer." < /p >
< p > in Ren Guoqiang, partner of Roland Berger consulting management company, the industry is developing to the professional sports field. The professional advantage of the international brand is more obvious. "Sports equipment emphasizes professionalism, research and development ability and athlete resources are particularly important. In basketball and other fields, the top resources are basically controlled by international brands." Indeed, in the past 2011-2013 years, the sales of international brands in the Greater China region generally increased, Nike grew by 19%, and Adidas's growth rate was 34.7%. < img border= "0" alt= "" align= "center" src= "/uploadimages/201407/08/20140708040240_sj.JPG" / < /p >
< p > local brand has always regarded "high performance price ratio" as a coping strategy, that is, goods of the same quality are low in price. However, if the product follows the trend, it will not necessarily be a sustainable strategy in the long run. If the international brand is generally operated globally, its comprehensive cost is not higher than that of the local brand. The continuous adoption of this strategy will weaken the profitability of the enterprise, and the product line of the international brand is constantly exploring, and there is no shortage of cost-effective products. Ren Guoqiang said. < /p >
< p > < /p >.
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