The Shoe And Clothing Crisis Is More Serious Than In 2008.

Early October Xie You can also feel the slight heat at the end of summer. "This crisis is more serious than 2008, and it will be harder next year. Maybe the 2016 Olympic Games will bring some changes." Faced with the current situation of shoes and clothing enterprises, Chen Cheng, a head of a small and medium-sized enterprise, spoke to reporters in a teahouse. This is doomed to be a year of calmness.

Fast fashion brands such as hop price, Singapore listed company alligator and the only listed listed companies this year, and so on, have broken the news of their bosses losing their jobs, arrears of wages or even bankruptcy. In September, there was no end to the hustle and bustle of the shoe company.

Over the past 20 years, with the help of "O E M - turning to domestic sales, signing the spokesperson, smashing advertising, building brand - store expansion - listing" this shortcut has achieved the fame of "China's textile industry base" and "jacket city". However, in this round of industry depth adjustment, the "Scar" that was covered by the rapid development of the past was magnified, and obviously, it also went to the crossroads of transformation.

　　 Cash flow at the knife edge

After the boss lost contact with him, no Clothes & Accessories It seems to have been in a storm. Although there was still no pay, the chief financial officer and Secretary General chose to resign. In September 16th, cable International's official website claimed that CEO Wu Qingyong was "lost" and the company's cash was transferred, leaving the company with only 6 digits of cash. In September 18th, cable international official website again announced the announcement that the board of supervisors decided to remove Wu Qingyong from the company. The statement also said the bankruptcy procedure was imminent. Although cable again announced in September 22nd that Wu Qingyong had contacted the company, he said that Wu would return the funds to the company, but the announcement had changed the title of Wu Qingyong to the former CEO.

The outbreak of many storms has clouded the top of shoes and clothing enterprises. One of the main manifestations is that suppliers are less trusting of manufacturers. Pressing accounts is a way to maintain cash flow in shoes and clothing enterprises. In the past, the refund period of the factory in the Shang Dynasty varied from 30 days to 120 days, and even for a year. The head of a company with tens of millions of sales per year told reporters that now the OEM enterprises dare not let brands pressure too much accounts, and cash transactions are the best. Last year, the peak of accounts receivable was 9 million yuan, and this year the plan will be controlled within 3 million yuan.

Suppliers demand cash transactions, which is still in the depth of the industry adjustment period of shoes and clothing enterprises, the pressure of capital chain will undoubtedly increase sharply.

For enterprises, the main means of financing are banks, private lending and listing financing, but at present, these three ways are not only heavy resistance but also reefs. Most of the enterprises on the road are broken up due to the insolvency of their debts.

Bank lending is undoubtedly the lowest cost way, but according to the local banking industry, most banks today maintain the balance of loans at most and do not add new loans to the footwear industry. At this time, the relationship between enterprises and banks has become very subtle. A local person who did not want to be named told reporters that a local shoemaking factory had 22 production lines and more than 1000 workers, but there was a 10 million loan in the bank which was unable to repay due to maturity. The company tells the bank to renew the loan, otherwise it can only declare bankruptcy. For this reason, the government can only ask the bank to lower the loan to the enterprise.

Enterprises with a certain scale can still strive for bank loans, while more small and micro enterprises can only turn to private lending. This is the most popular way of financing in the locality. But local people told reporters that interest rates rose with bank loans and annual interest rates reached 30%, and the annualized interest rate below March was sometimes more than 50%. At present, the risk of this kind of financing can be imagined when the shoe and clothing industry is in the doldrums and the profits are shrinking.

　　 Halo of mode

Although the shoe and clothing enterprises have encountered a crisis of capital chain, but in the 20 years before 2011, they created a myth of Chinese footwear industry. "China's textile industry base" and "jacket city" are set on top of the head. In the heyday of 2011, a set of data on the official website of the economic and Trade Commission of the economic and Trade Commission showed its brilliance: the annual output of footwear sports tourism shoes accounted for 40% of the country's total and 20% of the world's output, and 60 billion of the industry's output value.

"From the beginning of O E M, outsourcing to the domestic market, make the brand, and sign the contract at the same time. Spokesman Advertising and brand building, which promoted the upgrading of China's footwear industry chain at the time, and shifted the industry chain from foundry to brand management. C E O Zhang Qing, the key Road Sports Consultancy Co., Ltd. commented so much about the contribution of the mode to the development of China's footwear industry.

In fact, the brand awareness of shoes and shoes enterprises is indeed very advanced. "More than ten years ago, he saw that he had made a" billboard only eight points profit "billboard on the bridge, so he had brand awareness so early. Shu Wen, a senior sports goods brand executive, is so lamented.

The sports channel has been dubbed "channel" by "brand" and other brand advertising. By 2003, five brands of shoes and shoes in the central government have been over 40.

The licensing movement of shoes and shoes enterprises is just speeding up the process of urbanization and increasing demand for leisure products. "At that time, many enterprises did not have their own R & D teams at all, and some even took the products of others directly to tear them off and sold them." Zhang Qing recalls. In such a good day, shoes and clothing enterprises can produce what they can sell.

According to the economic and Trade Commission's announcement of the "industry status and planning in 2011", the textile and garment industry achieved an industrial output value of over 50 billion yuan and a tax payment of 2 billion 400 million yuan. According to the data of the Bureau of statistics, the output value of textile and garment industry in 2012 reached 59 billion 923 million.

The rising tide of listing

Such brilliance is a hidden bomb. "The shoe and clothing industry has chosen advertising and celebrity endorsement as the simplest shortcut to complete the original accumulation." Zhang Qing pointed out that too many enterprises did not follow the law of value creation at that time, and more wanted to do speculative business.

Such a speculative mentality is particularly evident in the capital market. Before 2007, there were only 5 listed companies, Heng Heng, Feng Zhu and seven wolves. However, in July 10, 2007, when the market was listed, the market of shoes and clothing enterprises could not be accepted. In 2008, the alligator fashion movement was listed in Singapore. In 2009, the famous sports brand was listed on the market. In the same year, China listed in Hong Kong. The listing of these big companies has changed the rules of the game: whether enterprises are listed or not has become the most important symbol of whether the entrepreneurs are successful.

In 2011, the international landing port exchange, Maxwe holdings and cable shoes were listed overseas.

"In fact, a lot of listed clothing enterprises are not lacking. Listing is not always due to capital problems, but some are the mentality of comparisons." A senior clothing industry man (a pseudonym) looks at this wave of listing fever.

Hong Zhaoyi, deputy general manager of Qipai group, told the media: "our two companies (seven cards and strong drivers) are not listed. It is the sorrow of our Hongs family."

In fact, in July, the chairman of the board of directors who lost contact with Chairman of the board of directors failed to reach the end of this year. "It would have been all right to rush to the market and drag it down." Deputy Secretary General Zhang Guanwen said.

Blindly listing is to pay the bill. First, the financing cost of listing is very high. "Listing financing will not arrive immediately, but the cost before it is high." In order to whitewash the earnings report, enterprises need to pay taxes on the "packaging and listing", and they need to pay a commission for the packaging company. A company with tens of millions of businesses told reporters that last year, packaging companies suggested that they should be listed on the market. Insiders said that once a company listed for financing 230 million, packaging spent 140 million.

He also believes that after many shoe and clothing enterprises have gone public, they do not have a clear plan for the business philosophy, future competition and transformation strategy and market strategy.

Transformation in labor pains

If the development of shoes and clothing industry is hindered, if it is not the electricity supplier and the fast fashion crazily attacking shoe and clothing industry, the undergarment of the shoe and clothing industry has been developing rapidly for 20 years and hidden behind it will not erupt at once.

"Shoes and clothing industry is perfect from raw materials, warehousing, logistics and manufacturing, and its industrial chain cluster is relatively complete, but this advantage is no longer the core competitiveness." Zhang Qing believes that now consumers are very rational, they either choose cost-effective products, or choose high value-added products, not because your brand is a celebrity endorsement will buy.

In addition, the rising cost of production has further squeezed its profit margins. For shoes and shoes, in the past, relying on demographic dividend to reduce costs, financing and rapid large-scale shortcuts had ceased to exist. Labor costs rise at 15% per annum, and the average price of 400-750 yuan for a pair of shoes remains unchanged for many years. The transformation is imminent.

According to the data of the first half of the year's analysis of the economic performance of the market, the survey shows that the number of orders above normal level in this quarter accounts for only 3.5% of the total, accounting for 82.2% of the normal level, accounting for 14.3% of the below normal level. From the feedback of the leading enterprises, the growth of orders for enterprises such as "Qi" and "Li Lang" has increased by about 10%. Due to insufficient labor supply, reduced demand for products and insufficient orders, the utilization rate of main products in this quarter was only 76.6%.

"Only a few enterprises in the shoe and clothing enterprises can make profits, with an estimated 70% of the enterprises losing money." Zhang Guanwen believes that the main problem of the industry is overcapacity.

The inherent development mode of shoe and clothing industry has been subverted, and how should it be transformed? Khchi, general manager of the shoe making equipment Trading Co., Ltd. believes that the more we are in a low valley environment, the more we need to grit our teeth and intensify our efforts. The key is investment in Science and technology. "For example, a computer automatic rotary cutting machine needs 280 thousand, the original punching machine may only need 23 thousand, but its production capacity is 5 times that of the latter. After a year, the labor cost of 5 people is also about 250 thousand. L V a production line of about 7 million, but only needs.