Clothing Industry Capitalization, Fun Industry New Pattern

New trend of clothing capital market in 2015: capital changing competition pattern

2015 is Clothing industry The key year of spanformation and development. Therefore, in the process of spanformation and adjustment, the garment industry is more closely linked with capital, and has added more capital factors and means. In the process of reform and rapid development, capital market has changed the development path and strategic choice of garment enterprises to a greater extent, changing the competition pattern of the industry. Under this background, the clothing capital market presents some new trends and new characteristics. These new features indicate the new pattern and new direction of the garment industry in the future.

New play: platform ecosystem

This kind of "platform", "ecology" and "circle" play are not very new, because they are already available. clothing With the help of capital market, enterprises can implement the strategic practice of spanforming the industrial chain from linear to network and circle. More obvious, there are Pathfinder, a series of frequent and dazzling capital movements since the Pathfinder went public, no matter in order to build what they call the "outdoor ecosystem", and gradually upgrade the gameplay, pull the tourism and sports industry, and build "outdoor + tourism + sports" "outdoor ecological circle", the industrial chain contact is farther and farther away. Similar practices include Maison culture, apart from its export business and domestic retail animation. Clothes & Accessories Business is also gradually extending to the direction of film and television, games and children's industry, creating the so-called grand cultural entertainment service platform.

This year, more clothing companies use this kind of play. One of the main characters is Liang Zi. At the beginning of its listing, it was still more traditional. It began to move more vigorously in the past two years, and this year it was a quick turn. The announcement recently invested 7 million 500 thousand US dollars in Hifashion, accounting for 5% of the total share capital of the company. The announcement shows that the core product of Hifashion is mobile APP "star Wardrobe". Subsequently, the company announced that it would acquire 226 million shares of Hong Kong listed companies Lianzhong international with HK $1 billion 193 million. Lianzhong international is China's second oldest Internet Chess game operator. The company said that in the future, it should expand the business of many fashion categories such as mother and baby, cosmetic, cosmetic, stylistic education, and create a lifestyle that covers "clothing, food, housing, spanportation, entertainment, beauty and medicine". Pan fashion ecosystem "There will be more investment and mergers and acquisitions.

Search also claimed that it had to implement the strategy of "multi brand, all channels and platform". Since the second half of last year, it has taken frequent actions, invested in a series of Internet brands, and entered the stock market, and announced that it will launch 10 clothing brands. Home textile "three giants" Luo Lai home textiles, fuanna and Meng Jie home textiles are all trying to spanform to "big home" to create a home life platform.

Apparel listed companies are increasingly adopting this platform development strategy, which is the result of the double superposition of the new form of Internet plus and so on, which penetrates the clothing industry more closely with capital and clothing. Jump off the clothing industry, take a comprehensive view of the Internet and IT industry. Enterprises that adopt platform strategy can be found everywhere. For example, Tencent, Google, Alibaba, Facebook, etc., it can be said that the platform mode and the Internet are natural adaptable. Building platforms or establishing ecological circles is a convergence choice under the trend that the industrial chain is more flat, the supply side and demand side are more closer and the demand is more detailed and generalization.

To create a platform ecosystem, garment enterprises inevitably have to deal with internet elements, or buy Internet companies, or put more resources on Internet +. And the capital market is becoming more and more fuel to the flames. The clothing enterprises have become a more "tall" choice under the influence of various factors such as capital thinking, market hot spots, market value management and even performance pressure. It can be expected that more clothing enterprises will take this mode more frequently under the catalysis of capital, and the degree of platform will be further deepened. But we should pay attention to that the new mode will have new competition and face new challenges. No matter how far the enterprise's tentacles extend, it is a basic requirement to consolidate the original main business foundation, strengthen its original core advantages and thicken the enterprise's own "moat".

New protagonist: Women's clothing enterprises

This year's first clothing company that landed on A shares came from Women's wear Industry. Women's clothing brand Song Li Si undoubtedly became the first domestic share of A shares landing in 2015, and also the first stock of A shares in 2015. In February 11th, she was awarded the issue approval. In April 13th, it launched an initial public offering A share online roadshow in Shanghai road show center and China Securities Network. In April 14th, it could purchase online, and intends to issue 40 million shares in public. The company's main products are high-end women's clothing, including the three series of formal dress, leisure and advanced, using direct sales and distribution mode of sales. Prospectus shows that the company's investment projects for the expansion of operations management center, design and development centers to expand and supplement other main business related working capital.

In addition to this year's first listing of the song, outside the ranks of clothing companies listed in the current, there are a few women installed companies waiting for listing, such as Mass Phil, Xin he shares and so on. The SFC website has recently revealed that Hui Jie group, a lingerie enterprise, has also updated the draft prospectus and is waiting to appear on the market. In the new three boards and even the stock exchange center, there are new women's clothing enterprises in the past two years. With the men's clothing playing a leading role in the capital market, the era of close contact between women's clothing and capital market has arrived.

The women's clothing industry is characterized by its diversified design demand and distinct personalization. With a large number of enterprises, fierce competition, relatively concentrated concentration and relatively small scale, the development of the industry will inevitably promote some of the enterprises with relatively good development and strong brand competitiveness to become stronger and stronger by means of the capital market, and promote the development of collectivization and large-scale multi brand and multi category by means of capital. The capital market will inevitably lead to stronger women's clothing brand, and women's clothing enterprises in the capital market will accelerate the integration of resources through investment, mergers and acquisitions and other capital means, so that they can take the lead in the fierce competition and occupy a more favorable position. This will be an inevitable strategic choice in the context of the rapid development of the capital market and the full competition of the industry.

New requirement: image of capital market

A characteristic of the A share market in 2015 is more emphasis on information disclosure. In terms of clothing listed companies, the annual reports issued by Hai Lan home and Hong Kong stock are all disclosed by the Shanghai Stock Exchange.

After examining the annual report of Hai Lan's home, the Shanghai Stock Exchange considered that what the company's so-called innovation model was not disclosed in 2014, and asked Hai Lan's home to disclose further its business models and characteristics, including the supply, production and retail links, the difference from the traditional mode, the impact on the actual business results and the competitiveness of the company, and the risks that this mode might bring. At the same time, the Shanghai Stock Exchange also questioned some financial data of Hai Lan's home. For example, it asked the company to explain the reasons for the fluctuation of revenues and expenses and disclose more specific information in related spanactions. The Shanghai Stock Exchange also sent a 2014 annual report on the audit of the red bean shares, asking the company to disclose and explain the business and operation of the garment business and real estate business. At the same time, the company did not fully disclose the shareholding structure of the controlling shareholder red bean group limited, and asked the company to make more disclosures in the concerted action, competition and related spanactions.

Under the background of quickening the pace of registration system, emphasizing the proportion of direct financing of enterprises and building a multi-level capital market, it is possible to predict the degree of information disclosure and increase spanparency of listed companies, so that they can more accept the judgment of capital market. This is also the trend of mature capital markets abroad. One of the phenomena is that the annual reports of some listed companies are more "lively" this year, which adds more disclosure and analysis to non-financial information. The way of communication will also be more humane. For example, card NDI road has released an image version of the annual report. Under this trend, garment enterprises need to communicate more actively with the capital market, establish effective communication channels with investors, better understand the rules and requirements of the regulators, and pay attention to standardizing the problems of various compliance and independence in the course of development, so as to avoid stepping on landmines. Strict and efficient information disclosure and establishing a good image of capital market are the key factors of market value management and corporate governance. In the long run, enterprises that go farther and develop more consistently tend to have a high level of corporate governance. {page_break}

Observation: capital changes competition pattern

The combination of clothing and capital has become increasingly close. The above observation is more about the new trends and new features of the clothing capital market that has been captured from the perspective of industry. From the foreign trade manufacturing to the wholesale brand to the large-scale and collectivization competition, China's garment industry has become a leading factor in promoting the development of the garment industry, enriching the strategic choice of garment enterprises, improving the level of corporate governance and changing the competitive pattern of the industry. Under the background of capital market reform and expansion, garment enterprises will develop and compete at a more yuan and more complex level under the infiltration and catalysis of capital. Garment industry Has entered the era of capital.

The capitalization process of the garment industry will further accelerate the upgrading and spanformation of the industry, adapt to the development of capital market, enter the international capital market and accelerate the industry.