High Efficiency Of Circulation Chain And Success Of Men'S Clothing Brand Hai Lan'S Home

The leading brand of "high quality, medium price" men's clothing: Hai Lan's home in February 2014, the reverse harvest Kay technology realizes backdoor listing.

Management, supply chain management and

Clothing leading enterprises, which manage the main business, have high performance price ratio.

"Hai Lan's home" contributes more than 80% of its income.

2, the franchisee is responsible for the separation of management rights and ownership. The franchisee is only responsible for the payment of rents and human resources. The company is responsible for the specific management of the door. 3, value and risk can be two-way flow among nodes, so that suppliers, Hai Lan homes and franchisees will become a strong interest community. 4, the other brands will need to reshape the circulation chain and pfer the risk of deposit from traditional franchisees to suppliers, which will encounter great resistance to the interests of franchisees and suppliers. The business mode is unique, the circulation chain is flat and efficient, the value and risk are two-way flow, and the barriers are high: 1, the mining quality ends: the credit quality model is adopted.

The company's business models, positioning and ideas coincides with the current macro, industrial and consumer situation. It is in a period of rapid growth: 1, the macro level: the production side, a large number of factory exports to domestic sales, the company's suppliers to expand the scope of choice; the company's low price and high performance price products are in line with a more rational trend. A large number of two low level cities have fully benefited two of the new urbanization policy dividends.

2, the industry level: industry stagnation to make a large number of core business circle golden berths to choose from; 3, the company level: the extension expansion space is broad, the big business ratio rises, the passenger flow, the joint rate, the passenger unit price all rises the passageway.

The first coverage is strongly recommended. It is estimated that the company's 2014-16 year revenue will grow by 48.5%, 31.4% and 27.8% compared with the same period last year. The net profit attributable to the company is 22.9, 31.1 and 4 billion 10 million yuan, up 57.4%, 35.7% and 29.1%, respectively, corresponding to EPS 0.51, 0.51 and 0.51 yuan respectively.

The company's business model is flat and efficient, and its product cost performance is high. It fits the current market demand, giving it 20.5 times PE in 2015, and the target price is 14.14 yuan. "Highly recommend" rating.