Bosideng Stock Is Broken 2 Billion Yuan, Chinese Clothing Giant Is Still Meaningless?

Boston must be a little annoyed recently. First, the media were exposed to the investigation. clothing In the process of anti season dumping, many wholesale markets were selling off "Bosteng" of tens of yuan or even one yuan. Although the Bobo Deng was finally labeled as a fake, lying in the gun was estimated to make Bosideng really uncomfortable, followed by a "bomb" attack. "Bosideng storage and then broke 2 billion yuan" surprised more people. Although it is not a new topic in the clothing circle, but Bosideng has no stock in stock, but after years of adjustment and pressure, the stock is still so high that it can not help many people wonder whether inventory is the pain that Chinese clothing brands will never wear out.

　　 High inventory Hardship

For Bosideng's stock, the media made a "HD analysis map", showing that Bosideng's inventory reached 1 billion 215 million yuan in 2011, 1 billion 399 million yuan in 2012, 1 billion 971 million yuan in 2013, and 2 billion yuan in the first half of 2014, climbing to 2 billion 43 million yuan. In this regard, Zhang Yunning, director of investor relations at Bosideng, explained that "the increase in inventory is mainly due to insufficient digestion." After analyzing the financial data of Bosideng, the media said that its inventory rose five years after 2010, and huge inventory Occupied Funds seriously, resulting in poor performance of Boston financial data. In addition to Bosideng, more brands are being choked by inventory.

In the 1 quarter of 2014, seven wolves showed that the operating income was 650 million yuan, down 31.3% from the same period last year, and net profit was 110 million yuan, down 39.9% from the same period last year. Analysis of the industry, joining the sharp decline in revenue, channel inventory is one of the reasons leading to the performance of seven wolves is lower than expected. Everbright Securities is so assessed: "at present, the stock structure of the over season goods accounted for a larger proportion, will lead to a larger inventory pressure drop in 2014." Most of the domestic men's clothing brands with the same situation as the seven wolves have suffered profits this year. Recently, "First Financial Daily" gave an analysis. The latest half year report showed that the loss of Busen shares and sunor were tens of millions. Meanwhile, Kaiser shares, card Nu Di road and good news birds also declined, and the net profit fell by 80%.

In the eyes of the discerning eye, the decline in the profits of these brands is not related to the soaring stock prices. Changjiang Securities has made such an analysis of Busen shares which have been suspended for a while: "in 2013, the company's stock rose to 249 million 70 thousand and 400 yuan, an increase of 19.58% over the same period last year. Accounts receivable amounted to 121 million 196 thousand yuan, up 13.80% over the same period last year. Obviously, inventory and capital turnover are not good enough to make these enterprises difficult. In addition to men's wear, listed sports brands such as Lining, Anta, PEAK, 31st degree, China trend and XTEP released data also show that inventory reached 942 million yuan, 689 million yuan, 366 million yuan, 409 million yuan, 183 million yuan and 537 million yuan last year, respectively. High storage seems to be like a cancer, and many business managers talk about inventory only when interviewed. This topic has been discussed since a few years ago, and many enterprises have been shouting to solve this problem for many years: factory stores, promotional discounts, e-commerce dumping, inventory acquisition, evolution into fast fashion, reducing inventory and sinking three or four line cities. There are more and more methods, but to this day, this problem is still not well solved.

Unable to cover up Design Short board

Some people say that the fate of Chinese clothing is not in the hands of those giants, who is more innovative, who is the ultimate winner. In this innovation, how much can the design occupy? What role does the design play in inventory? What is the role of the design? Zhang Guangyun, deputy director of the Alston menswear Commodity Center, was asked what the development trend of Chinese men's clothing is in an interview. He categorically said that men's clothing is now moving closer to fashion, and consumers are also more interested in fashion design. But does the design of Chinese men's clothing really reach the fashion level recognized by consumers? Whether Chinese men's clothing has considered design problems in the process of opening stores and raising prices will become a major drawback of products not being sold. As an industry expert has said, there are many factors that are harmful to men's clothing inventory. Men's uniforms are even higher, even if they are discounted, the selling price is not low, which will also affect the cleaning up speed of inventories. Go back to Boston, a high inventory, and look at the brand's main product category - down jacket design.

"If you can wear Boston's down jacket before going to high school, you will never be close to Boston counters after work." 28 year old less than every year will buy one or two new down garments. In her opinion, whether it is cold or not cold in winter, the down jacket needs to change the new model to make itself happier. "Nowadays there are so many fashion clothes brands that these fashionable brands will produce many fashionable down garments every winter. In contrast, Bosideng has no advantage in design except that it is cheap and warm. The version is not beautiful, the fabric is not high-grade, and it doesn't feel like "tall and up". And many young people who are less than the same sense, their pursuit of fashion is no less than the consumers of other fashion countries.

Speaking of whether he would buy such an old down jacket like Bosteng, the 35 year old Doug said, "I will never wear it myself, because Boston's design does not suit me. But you may buy one for your parents, but you can wear a parent for many years, so basically you will not visit Bosteng in 35 years. The number of Tucao consumers design for a brand can be seen how much they are dissatisfied with the brand, and the acceptance of the brand can also be imagined.

If we mentioned Bosteng more than 10 years ago, many people would think it was a synonym for "brand name". Now, Bosideng, like many old clothes, has been unable to get a share in the first and second tier markets. Finally, we have to sink the channel to the three or four line market to seek the opportunity. The Chinese local brands that had been so influential were so sad that people could not accept the design, and the design could not be accepted by the majority of consumers. Should the brand side think about how to solve this problem? A few days ago, Boston made a high-profile announcement that Liang Xuhui, the former chief strategist of Daphne, took over the post of chief executive officer. The annual salary of 5 million made many people doubt that this is to save the performance of the recent decline in Bosideng's performance.