O2O Of American Barrack Dress Is Hard To Restore The Declining Trend.

Recently, the apparel industry, the first test of the Internet, the United States announced that the United States will plan to raise funds for the Internet big data and O2O construction 9 billion yuan of funds cut to half, adjusted to 4 billion 200 million yuan. Among them, not only because the share price falls, the issue price will be reduced from no less than 8.28 yuan to not less than 5.94 yuan, but also directly reduce the number of issued shares from no more than 1 billion 87 million shares to no more than 707 million shares.

Despite the fact that the fund-raising investment has not changed, is the initiative to slash the fixed increase plan mean that the company lacks confidence in the proposed investment projects?

All of this will start with the history of the transformation of the US state distribution channel.

In 1995, Zhejiang businessman Zhou Chengjian founded Metersbonwe (hereinafter referred to as the United States), just like many local fashion brands open the market mode, the early American states are keen to open a large area flagship store in the first tier cities. However, since 2006, Zara, H&M and other international fast fashion brands have landed in China, and quickly hit the first tier cities, causing great impact on the United States and the United States. And most of the stores in the second tier cities are the battleground facing the international fast fashion brands.

Since then, the malpractice of the franchised store system has gradually appeared. A large number of franchisees make the initiative of the order in the hands of franchisees, while franchisers as risk bearers, and in order to ensure sales volume, are often more willing to set up more popular explosions. It is this bottom-up group cargo system that has long brought the degree of individuality to the US state and brought the company a huge amount of indigestible inventory: in 2012, it had 36 million 208 thousand inventories, and 28 million 963 thousand improvement in 2013, but in 2014, the inventory rose to 31 million 425 thousand again.

From 2012, the company took the Internet transformation development as an important long-term strategy of the company. After that, it took back the state purchase website and took the lead in O2O operation, and launched the "fan" App in 2014. One thing to point out is that Zhou Bangwei, the head of "fan" App, is Zhou Chengjian's son, plus the recent departure of executives.

In 2014, the United States and the United States closed 800 stores and moved 20% of the cost to the "little family" to train their hands for the development and operation of "fan" App. This App is based on the American brand, and also jumps out of the shackles of the brand, positioning itself as a fashion sharing platform. At present, there are up to 254 brands on the App platform, supporting one click purchase, most of which aim at consumers in the field of subdivision. At the same time, the App also mimicked the previous "mogujie.com" and " Beauty theory And so on, to provide users with recommendations.

The App, which runs in cost in the United States, has diluted its own brand. App's classified page has not featured the brand of its brand. Even more embarrassing to the United States, its most popular sub brand ME&CITY, on the "fan" App platform, sold the highest amount of a T-shirt worth 41% off yuan, worth 59 yuan, sold for only a thousand pieces, and the monthly sales volume of a large number of single products was single digit, some even a deserted 0.

Perhaps the situation of putting the cart before the horse is not foreseen when the US government entered the Internet +. However, this is not the first time that the United States has suffered pains on the Internet transformation road.

2012 is the "cold winter" of domestic garment manufacturing industry: the decline of orders, the backlog of inventory, and the weak performance of physical stores. This year, the United States was also a small impact. The first decline in its performance since its listing in 2008: revenue of 9 billion 510 million yuan, down 4.38% compared to the same period last year, and net profit from the parent company decreased by 29.55% to 850 million yuan compared with 1 billion 206 million yuan in 2011. And this year, online clothing retailing began to blowout.

Perhaps this is the opportunity to make Smith Barney Decided to transform the Internet, and opened more than 1000 Direct stores in 2013 to plan for the O2O experience store.

The reason why the United States has cut the amount of such a big increase is unclear. It is only due to the comprehensive consideration of the actual situation of the capital market and the company itself. The interface reporter asked about the relevant person in charge of the US state side. The other party also said that everything was based on the company announcement.

Some clues can be seen from the feasibility report of the company's announcement of raising funds: more than 4 billion 200 million of the increase will be used in the "intelligent manufacturing" industry supply chain project. Popular is to achieve consumer customization, the "tailoring shop" and the concept of Internet + combination, the company tried to achieve the United States brand personalized revival, to provide customers with limited edition and ease the pressure on the stock. The O2O project will spend 1 billion 591 million yuan on the construction of the online and offline channels.

The report said that the "intelligent manufacturing" industry supply chain construction cycle is 36 months, if successful, the United States brand image will be truly resurrected. But this kind of incapable production mode is no matter how much profit the United States has made in the previous mass production.

Huang Xi, manager of the Metersbonwe O2O experience store, who opened in Chongqing's Monument for Liberation and opened in March 2013, once told the media: "such stores like O2O experiential shops are generally not making money, all in order to make signs." The O2O experience store in Wuhan has stayed in the store to retain customers, and even launched a manicure service that does not match the company's main business.

From the company's earnings data, no matter what it is called. O2O Direct stores or franchisees, the same performance decline in 2013, resulting in 2013 revenue of 7 billion 890 million yuan, down 17.03% compared to the same period last year; net profit from the parent company is a sharp decline of 52.27% over the same period last year. In 2014, the company's revenue fell by 16.08% compared with the same period last year, only 6 billion 621 million yuan, and the net profit to the parent company was only 146 million yuan, down 64.08% compared to the same period last year. The latest three quarterly report shows that the company has accumulated a deficit of 177 million yuan this year.

And the relevant revenue on the "fan" App platform that might have turned the tide has not appeared in the company's earnings so far. In this year's semi annual report, the company has introduced the phrase "fan App" and "famous App online entertainment program" through the company's introduction of fashion social networking + shopping platform.

But the United States did not give up. In July this year, the company announced that it was expected to increase by 9 billion to promote the O2O process. But four months later, the company announced again that the amount raised will be adjusted to 4 billion 200 million yuan.

In conjunction with the previous O2O process, Liu Qiangdong, quoted by Jingdong CEO, said in a speech recently: many enterprises are making electricity providers for the purpose of doing business, and have established the electricity supplier department. However, 99% of China's e-commerce departments should be turned off, because all traditional businesses simply do not need to set up e-commerce departments.

This may be a bit extreme, but for the United States, what is more important now seems to be that part of the energy to catch up with the Internet is to consider what users want and what I can provide, so that it may be easier to find the way in the big data.