Vigna S Is So Self Possessed When He Closes His Shop And Opens His Shop.

In winter, the women's clothing company, Vinas, is finally willing to go public. Even if some people think it's a little big, the industry even laughs. After all, you are not yet. It is understood that Vigna S issued the price of 20.02 yuan / share, corresponding to the 2013 diluted earnings ratio of 16.73 times, the total amount of raised funds was 740 million yuan, after deducting the issuance cost, the net amount of raising funds was 659 million yuan.

Vigna S's offer letter shows that the fund has been raised for marketing network construction projects, R & D and Design Center upgrading projects and supplementary liquidity. After the public offering was completed, some of the funds raised were newly built in 152 stores nationwide.

Zhang Yanjie, an analyst with Zhuo Chuang consulting, told reporters: "since 2010, the economic situation has been turning rapidly, and the clothing industry has also been running poorly. Over the past few years, the competition of high-end garment enterprises has become increasingly fierce. The cost of store rents and other costs in the department store is getting higher and higher, and the impact of the business is also growing. Under this background, enterprises are trying to expand the store and other ways to seek the extension growth, which is doomed to be difficult to sustain.

Money should be self willed. For the problem of physical stores such as counter trend expansion line, the reporter has repeatedly called the wirnnasi securities department, but as of press release, its phone has been in the state of no answer.

Shop and shop

Vigna S's main business is the design, production and sale of high-end brand women's clothing, and carries on business activities with "V GR SS" as the main brand.

It is understood that this is Vigna S's two application for IPO. In July 18, 2011, the SFC rejected the company's first IPO application. The reason is that Vigna S's operating income from 2008 to 2010 was 141 million yuan, 201 million yuan and 313 million yuan, though Business income Substantial growth, but Clothing sales However, the number of clothing sales increased from 143 in 2008 to 272 in 2010, and the number of clothing sales in 2008 2010 was 581 thousand and 800, 603 thousand and 400 and 586 thousand and 700, respectively.

at that time Vigna S Plans to invest 277 million yuan to raise funds to open 85 new self operated stores, but in 2010, the number of stores closed was 46. The SFC issued the following opinion: "as a result of a process of opening from shop to profit, the number of clothing sales has declined during the reporting period, while the number of goods sold has increased significantly at the end of 2010, and your company's future profitability has been largely uncertain."

Now look at the company's situation. As of June 30, 2014, the company has set up 356 stores, of which 316 are direct stores, and in 2010 and 2011, the number of stores has increased rapidly, which has increased by 101 and 74 respectively over the previous year. In 2012 and 2013, the company has slowed down the pace of opening shops, and the number of stores has remained at a relatively stable level.

According to the prospectus, from 2010 to 2013, Wenger lost 124 stores, but the industry criticized that the investment fund should continue to expand the number of outlets, and exceeded the number of closed 2010 to 2013. The company said that it was because of upgrading the store grade: "through the continuous closing of low-end shops, the company has opened up high-end shops to optimize the existing store cabinets, and the store grades have been continuously improved." But this way of opening shops and closing stores, as the SFC rejected its first application, said that new shops need to earn profits for a certain period of time, thus full of uncertainty.

According to media reports, clothing enterprises closed shop to form a spring tide. The agate clothing retail group, which owns its brand women's clothing, released the 2014 China Daily Performance bulletin. In the first half of this year, IgG has closed 88 stores in the Chinese market, and its performance is on the decline. It owns 38 brands such as Esprit and last year in China.

In addition, Wenger's inventory has been rising. From 2011 to 2013, the book value of wicknex's stock was 120 million yuan, 170 million yuan and 154 million yuan respectively. As of June 30, 2014, the book value of the company's stock was 160 million yuan, accounting for 25.75% of the total assets at the end of the year, and the provision for inventory depreciation was 4 million 232 thousand and 800 yuan. Among them, the value of goods in stock was 89 million yuan, 131 million yuan and 117 million yuan respectively, accounting for 73.88%, 75.66% and 73.79% respectively.