La Natsu Bell, A New Generation Of A Share Gold Digger, Is Expanding Rapidly So As To Avoid The Cold Winter Of The Industry.

Recently, the China Securities Regulatory Commission's official website disclosed 85 companies' prospectus.

Among them, there are some famous companies in the industry or the main business, including the online marriage and love company, the Shanghai poke city network technology company, the "cup fishing circle", which is the main business of the "fishing and daring people" game, and the "cup is connected to the three circles of the earth".

"Domestic"

brand

。

Some unusual plans were selected.

The company studies and analyzes its business models.

What are the ambitions of these new generation of A share prospectors? What kind of new atmosphere will they bring to the market?

La Natsu Bell, a Hong Kong stock listed company, is about to achieve a long cherished wish to "go home".

In 2014, mainland women's clothing brand La Natsu Bell sought the success of H-share listing and sucked up HK $2 billion 200 million.

Soon, La Natsu Bell, who was "not bad money", became the focus of the industry with a high-profile strategic expansion plan and became a typical sales representative of the mainland women's clothing market in a short time.

The attention of the market did not let the company abandon the "old dream" of A share listing.

In recent days, La Natsu Bell, who only went to Hong Kong for only a year, issued a prospectus for A share listing, announcing a high-profile return.

The prospectus shows that the direction of La Natsu Bell's future investment promotion is to expand the physical stores. This also allows many investors to worry about the expectation of "new stock" La Natsu Bell. Is the company's expansion objective rational today when the physical retail industry is sluggish? Is La Natsu Bell, who is in the prime of life, able to escape the curse of the clothing brand's life cycle law?

Return to A shares because of "single financing channels"

Just one year after landing on the Hong Kong stock market, La Natsu Bell, who has been praised by the market as "China ZARA", has killed a return gun.

At the end of October, La Natsu Bell announced that the company had submitted the application materials for the proposed A share issue to the China Securities Regulatory Commission, and the China Securities Regulatory Commission has also accepted the application.

In November 13th, La Natsu Bell appeared on the pre disclosure list.

According to the prospectus it disclosed, La Natsu Bell plans to land on the main board of Shanghai Stock Exchange and raise funds of 1 billion 640 million yuan.

Among them, 1 billion 560 million yuan is used for expansion of the company's retail network and the other 80 million yuan for the new retail information system project.

In fact, this is not La Natsu Bell Di's impact on A shares.

As early as 2011, the company submitted the IPO application to the China Securities Regulatory Commission, but unfortunately it just hit the domestic IPO suspension. Since then, La Natsu Bell's listing process has been stagnant for three years until the Hong Kong stock market was detour in 2014.

For La Natsu Bell, the failure to be listed on A shares has always been a "heart knot". The A share market is expected to open its door to it, and La Natsu Bell will soon complete many years of cherished wish.

How to explain La Natsu Bell's "persistence" in the A share? Some analysts believe that the relative value of the A share market may be an important factor in attracting the return of H-shares such as La Natsu Bell.

In addition, "listing on A shares can also reduce stock holdings at a higher price in the future, thus maximizing the benefits."

In November 27th, La Natsu Bell insiders said that the current financing channels and ways of the company are relatively single, which is one of the important reasons for the company to return to A share market.

"The company's business is concentrated in the domestic market, but there is no matching domestic equity financing platform, and H-share financing costs are higher and face foreign exchange risk."

The person said that the establishment of a domestic equity financing platform will help companies improve the diversity of domestic financing channels and reduce the risk of debt financing.

In addition, the company also said that with the continuous expansion of the company's retail network and business scale, it is necessary for the company to further enhance its comprehensive management capability. The return to A shares will help "do well the management and control of large-scale wholesale retail network, the management of supply chain system and the coordinated development of online and offline channels."

Two or three cities contribute 6 to revenue

The news of La Natsu Bell's return to A shares of Hong Kong Equity listed companies has made Zhou Yang, a white-collar worker who frequented the brand, surprised. "Is La Natsu Bell a domestic brand?"

Before that, whether the name of the brand or the image design made Zhou Yang mistakenly believe that the "La Natsu Bell" with the name of "La Chapelle" is a fashion brand from France.

Although it is a native Made in China, La Natsu Bell is in the red at home and has gained the same treatment as some famous foreign brands.

On the evening of November 24th, reporters visited La Natsu Bell's new world store in Beijing.

On the same day, though it was a working day, La Natsu Bell's store still had a considerable flow of people.

"When did the brand start to fire? It's hard to define a time clearly.

It seems like a sudden, almost every large department store has its storefront and counters, and the area is always small. "

Zhou Yang said.

The reporter saw that the area of La Natsu Bell store in the new world department store is almost twice the size of a brand woman's dress next door, and the total number of styles and goods is obviously more.

Zhou Yang said that La Natsu Bell often does promotions, and the discount is bigger than many brands when changing seasons and changing new ones.

"A woman's winter dress discount is less than 1000 yuan. La Natsu Bell's price positioning is lower than that of many boutique women's brands, but for the students in the first tier cities, ordinary white-collar workers, and women's clothing consumers in the two or three tier cities, La Natsu Bell's brand also gives people the impression of being refined and fashionable."

A textile and apparel industry said that the current La Natsu Bell positioning and representative of the domestic two or three tier cities of fashion trends and consumption levels.

This can be confirmed in the La summer bell financial report.

2014 annual report shows that La Natsu Bell's 620 million yuan business income, from two or three line city income contribution accounted for 65% of the proportion, and from the first tier cities revenue accounted for only 13%.

As of June 30, 2015, La Natsu Bell's number of shops in the 123 tier cities was 713, 2672 and 1890, accounting for 12.28%, 41.87% and 24.47% respectively.

That is to say, the number of stores in the two or three line accounts for more than 6 of the total number of La Natsu Bell stores, while the contribution ratio of the two or three line cities has increased further, reaching 66.34%.

From 2012 to 2014, the annual compound growth rate of La Natsu Bell's operating income was 45.99%, and the annual compound growth rate of net profit was 40.34%.

The prospectus said that in 2014, La Natsu Bell occupied 6.3% of the female casual wear market in the country, ranking only second of the industry in the world after Only.

However, compared with the Only share of 12.1%, La Natsu Bell's share has just reached half of Only.

At the same time, La Natsu Bell occupies more than the international fashion brand ZARA, UNIQLO and H&M in the domestic female casual wear market.

Rapid expansion, how to avoid "industry cold winter"?

According to the prospectus, in the next three years, La Natsu Bell will expand about 3000 outlets on the basis of the existing 7147 retail outlets.

In November 24th, La Natsu Bell company was responsible for the listing, raising funds will be used for 2094 new outlets, 906 monopoly outlets.

All these outlets will be operated in direct operation mode. "Through the implementation of this project, the company will further expand the retail network, realize the coverage of the blank area, and penetrate the key areas."

Once the stock investment plan is completed, La Natsu Bell will reach tens of thousands of stores nationwide.

This level is not common in domestic equivalent clothing brands.

"The impact of the electricity supplier on the physical store is so large that the company has put money into heavy assets, is it too irrational?" snowball, a concern for Hong Kong stock investors questioned.

"Without large-scale shops, La Natsu Bell will not have today's brand awareness."

The textile industry said.

Data show that by the end of 2011, the number of La Natsu Bell retail outlets was 1841, and by the first half of 2014, this number has increased to 5671.

In other words, it is similar to consumer Zhou Yang's perception of La Natsu Bell's "sudden fire". It is La Natsu Bell's rapid expansion of real gold and silver.

As of the first half of 2015, the total number of retail outlets in La Natsu Bell increased to 7147, an increase of 26% over the 5671 in the first half of 2014.

In 2014, same store sales increased by only 1.7% over the same period last year, while the level dropped by 0.8% in the first half of 2015.

Another data is that in the first half of this year, 5 of La Natsu Bell's 8 brands of clothing had a drop in gross margin.

Among them, the gross profit margin of Puella dropped from 64.6% in 2014 to 62.1%, a decrease of 2.5%, and a consolidated gross profit margin of 63.6%, down 0.6% from the same period last year.

La Natsu Bell A share market is approaching, many industry people still have a wait-and-see attitude toward the future of the company.

One reason is that at present, fashion brands such as Metersbonwe are going through a "cold winter". The fashion brand's "cyclical fate" is almost considered "doomed."

What is the red magic of La Natsu Bell who will jump out of this spell?

La Natsu Bell responsible person said, La Natsu Bell's clothing as "positioning in the basic clothing needs" popular clothing, and positioning in high-end luxury clothing, because of "moderate price" and "affected by the economic cycle is relatively small".