Jordan Sports And So On Will Be Listed At The End Of Four, Can It Tide Over This Difficulty?

Despite the textile and garment sector

The road was rough, and its IPO battlefield was bloodstained, but this did not prevent some enterprises from listing enthusiasm.

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Jordan sports Limited by Share Ltd, also in Fujian.

Sports, as early as November 25, 2011, has already passed, and plans to be listed before the end of March next year.

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Unexpectedly, in February 2012, Michael Jordan, the former basketball star of the United States, made a difficult move, causing Jordan's sports to fall into tort lawsuits.

The company's listing time has been dragged on for more than four years. Recently, Jordan sports IPO finally passed the trial conference successfully.

Prospectus shows that Jordan sports intends to land on the stock exchange's main board market. It is expected that the number of shares issued will be 112 million 500 thousand shares, and it is expected to raise 1 billion 64 million yuan, and the sponsor will be Bank of China International Securities.

The company's financing of 1 billion 64 million yuan is mainly used for production base expansion and strategic direct store construction.

Reporters interviewed the industry that, "in the case of the right of reputation dispute is not yet over, and in the case of the industry cold current, Jordan sports at the moment there are many risks such as serious inventory and receivables delinquency, and enterprises will still face huge risks in the future after listing."

Reporters interviewed Jordan sports related responsible person, the other side did not give a response.

Bogged down in Tort

Jordan is mainly engaged in sports.

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And sports accessories design, R & D, production and sales, is a well-known local sporting goods brand enterprises in China.

Since 2000, the company has registered several trademarks such as "QIAODAN", "Qiao Dan", "Qiao Dan" and "King Jordan" in several commodities.

However, the name of the company that attracts the attention of the company is also a negative effect.

When Jordan sports, which was successfully launched 4 years ago and plans to launch before the end of March 2012, is preparing to play a big role. A lawsuit by American basketball star Michael Jordan (Michael Jordan) makes its listing on the road suddenly full of variables and brings many risks.

In February 23, 2012, Michael Jordan (Michael Jordan) filed a lawsuit against the Chinese court, accusing Jordan of abusing her name and image in an unauthorized situation, demanding Jordan's sports stop infringement, and compensation for mental loss of 50 million 10 thousand yuan.

In early March 2012, the second middle court of Shanghai formally accepted the case.

Since then, the Jordan sports listing schedule has been disrupted by a long delayed lawsuit.

Reporters found that in the Jordan sports registered trademarks, Jeffrey Jordan, Markus Jordan, JIEFULIQIAODAN, MAKUSIQIAODAN and other words are impressively listed.

These trademarks are the same as those of Michael Jordan's two sons, both in English and in Chinese.

In this regard, Michael Jordan (Michael Jordan) said, "without my permission to facilitate the use of my Chinese name, ball number 23, to carry out commercial activities, I take action is to protect my name and brand."

According to Michael Jordan's accusation, Jordan sports said that according to Chinese law, the object of the right of name to constitute legal protection must be the name of the citizen's decision or use, while the Chinese "Jordan" is not the name of Michael Jordan, and does not constitute the object of the right of name under Chinese law.

"The reason for Jordan's sports lies in the law. Michael Jordan is not a registered trademark and therefore is not protected by trademark rights."

Zhang Malin, a lawyer at Southeast University law school, told reporters.

"Jordan sports is a typical hitchhiker in knowing the situation and using the world famous stars to promote products."

Yao Huanqing, an associate professor at Renmin University of China law school, told reporters.

In 2013, Jordan filed a counterclaim against the court, suing the "Michael Jordan" (Michael Jordan), asking him to stop violating Jordan's right to reputation in sports, to restore Jordan's sports reputation and compensate for the economic loss of $8 million.

In April 2nd, the Quanzhou intermediate people's court accepted the case.

In the battle of the saw style litigation, Jordan's official issuance and listing time was forced to drag on.

Jordan has been waiting for 4 and a half years in the enterprises that have passed the examination.

Nevertheless, the litigation between Jordan sports and Michael Jordan will eventually be a stumbling block to the development of enterprises.

According to the insiders, there are two ways in front of Jordan's sports: one is "turning" and the other is carrying.

The so-called "turn" is renaming the hero, breaking the arm, abandoning "Jordan" and creating another brand, which requires huge capital and time cost.

In the future, the expansion and capital operation of the "Jordan" brand in overseas markets will face enormous risks and the development space will be blocked.

Facing many risks

After more than 20 years of rapid growth, the development of domestic sports brands has become a bottleneck. The sharp slowdown in high inventory and expansion has become a difficult problem for the industry.

Lining, the industry leader, has "cut the grain". Jordan, who is the fifth employee in the industry, must have had a hard time.

In 2012 and 2013, Jordan sports did not announce the earnings report, but look at the month. In 2012 alone, the industry leader Lining lost nearly 2 billion yuan, operating income decreased by 24.5% compared with the same period last year, and gross profit fell 36.9%.

From Jordan sports prospectus data, as of the first half of 2011, Jordan sports stock reached 199 million yuan, and the share of total inventory assets increased from 7.43% at the end of 2010 to 9.4%.

Industry analysts believe that under the nest, there is no end of eggs, and Jordan sports in the domestic brand is not the first camp, investors should have concerns.

"Inventory is on the rise. It will undoubtedly increase the pressure of Jordan's sports losses, and it will be a huge land for its performance."

An industry analyst told reporters.

And Jordan sports also stated in the prospectus, in view of the trend of rapid change in popularity, if the company did not grasp the fashion trend in time, designed and manufactured products that met consumer preferences at that time, there was a low volume of products and inventory risk.

In addition, the amount of Jordan's sports accounts receivable increased significantly, and the way of credit sale was applied to dealers. Under the condition of heavy inventory, the company's capital flow was further affected.

In addition to inventory, Jordan sports accounts receivable data is even more worrying.

In the first half of 2008, 2009, 2010 and 2011, accounts receivable were 54 million 202 thousand and 100 yuan, 135 million 622 thousand and 600 yuan, 409 million 251 thousand and 700 yuan and 600 million 349 thousand and 400 yuan respectively, accounting for 9.29%, 14.56%, 19.62% and 28.36% of total assets, and the ratio of accounts receivable to income rose from 10.45% in 2008 to 35.09%.

Because of relying on distributors to lay sales channels for goods, it also causes the company to increase its risk.

At the same time, the reporter also noted that the reason for Jordan's sports withdrawal from WAL-MART is still unknown.

At the same time, reporters at Taobao mall Jordan official flagship store to see, as a low-end sports clothing and footwear companies, Jordan sports sportswear lowest at about 60 yuan, and the most expensive is only 339 yuan, the highest price of sports shoes is only 280 yuan.

There is an obvious price difference between sports prices such as Lining, ADI, Nike and so on.

Through the deep plough of the two or three line city market, Jordan sports, especially in East China, has relatively strong market share. Only in 2010, the sales revenue in those regions reached 2 billion 912 million yuan.

The prospectus also shows that its income in eastern China has reached 34.68%.

Jordan sports worried investors said that the sports apparel industry is not very good now, a large number of shops, high inventory and many other reports, Jordan sports is ready to spend money to open shop, a little inappropriate.

Besides, e-commerce is playing a more and more important role in sportswear stores.

Analysts believe that Jordan sports and Anta and other "rural encircling the city" strategy, is currently facing some international brands began to implement the "two or three tier cities" settlement of the strategic strike.

Since 2012, the growth rate of domestic sports industry has slowed down. Closing the non-profit stores, supporting terminal channels to inventory, and reshaping the business mode are the main theme of sports goods industry.

It is still hard to predict Jordan's sports. It is still to be seen whether we can tide over the difficulties.