What'S The Use Of BELLE'S Jeans Brand Replay?

Recently, China's largest female shoe retailer

International Holdings Limited (hereinafter referred to as BELLE) announced the acquisition of Italy leisure apparel group FashionBoxS.p.A 29% stake.

In addition, the two will set up a joint venture to manage the development and operation of Replay and other brands in the Greater China market.

The company is owned by Replay, children's clothing Replay&Sons, high-end line WeAreReplay and RedSeal.

Replay and its branded brands have more than 3000 outlets and retail counters in more than 50 countries. In 2014, they earned about 204 million euros, and 85% of them came from Europe (including the Italy market).

In fact, this is not the first time BELLE has done this.

As early as in 2013, BELLE bought 31.96% of Baroque Japan (BaroqueJapan) at a price of 90 million US dollars, and represented the retail business of Baroque Japan's women's clothing brand Sly and Moussy in China.

BELLE's own

(including Teenmix, Staccato, sun Da, Tata and BELLE) the trend of decline is obvious in recent years.

Because of the impact of the electricity supplier, the aging of the style and the similarity with the competing brands, BELLE's shoe business same store sales fell 16.5% in the fourth quarter of fiscal year 2015.

This piece of revenue fell by 6.2% (the first half of fiscal 2015).

But its agency's footwear brand is developing well, and the total sales revenue of foreign brands such as Clarks, CAT and HushPuppies, which are slightly higher, rose by 10.2% and 23% respectively in the first half of 2015 and the full year of 2014.

In addition, BELLE also runs sports.

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In addition to Sly and Moussy, BELLE is Nike's largest distributor in China, as well as Adidas, Puma, MIZUNO and CONVERSE sports brands.

BELLE's revenue in sports and clothing has been rising, reaching 9 billion 524 million yuan in the first half of fiscal year 2015, basically unchanged from 9 billion 840 million yuan in footwear revenue.

By proxy, these younger and more advanced foreign clothing and sports brands can increase the income of BELLE group, but the gross profit margin of agents is lower than that of self produced footwear brands.

In addition, Nike, Adidas and other sports brands are far more than BELLE dealers in China, they are also accelerating the layout of the camp.

So, more importantly, BELLE should face up to many problems faced by its own footwear products unless it intends to abandon its own brand.