"The First Brand Of Amoy Brand" Is Becoming More And More Intense.

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The first battle is getting stronger and stronger.

A few days ago,

Prospectus disclosure.

In July 1st, the SFC website was released.

The Guangzhou based Humei fashion group Limited by Share Ltd (hereinafter referred to as Humei group) applies for the prospectus listed on the gem.

In the overall environment of the apparel industry is poor, the main income of Hui Mei is showing a rapid growth trend.

According to its prospectus, the company's operating income in 2013 ~2015 was 5.90 billion yuan, 949 million yuan and 1 billion 141 million yuan respectively.

A few years ago, after a round of investment rush in the "Amoy brand", the investment circles had gone through the stages of channel expansion and strategic upgrading. Now dozens of Internet brands have launched the listing plan, and once again aroused great concern in the capital market.

Hui Mei Group said in its prospectus that it is expected to become China's largest Internet fashion brand group.

Expanding category brands and channels, and revenue growth is fast.

As of the prospectus disclosure, the group has incubated more than 10 brands.

Fang Jianhua, founder of the first group of Internet traders in 2003, became the first batch of Alibaba's integrity members and international export members.

In April 2005, he was founded on the basis of Guangzhou Humei garment factory, and was set up in Guangzhou Humei Clothing Co., Ltd., and entered Alibaba B2B international business in that year.

In 2008, Yin men's dress entered Taobao Mall (Tmall).

In 2013, "double eleven" ranked the top of Tmall women's wear brand.

Referring to the rapid growth of revenue in the past three years, the 3 main reasons why Hui Mei describes the prospectus are mainly due to the following reasons.

First, conform to the good momentum of online shopping consumption, relying on strong online brand incubation and operation capabilities, the company's revenue has maintained rapid development during the reporting period.

Second, brand promotion and channel operation are two pronged efforts to boost the company's revenue growth.

Relying on online brand reputation and "fans" member resources advantage, we will actively explore diversified and multi-channel innovative brand marketing mode during the reporting period.

At the same time, the company launched the online and offline integrated marketing strategy, and actively promoted the "Yin man + thousand city store" project, using the "fans effect" to quickly copy the brand influence from the online to offline.

Third, we should actively promote brand incubation and enrich the extension of categories to drive overall revenue growth.

The company adopts the product strategy of multi brand and multi product categories. With the promotion of the initial purchase language, the fashion brand incubation plan and the new product category, the company's business line is constantly optimized, resulting in obvious synergy effect.

The emergence of new products and new brands has met the needs of the original consumers at different levels and diversified, expanding the consumer groups through the breadth and depth of the consumers.

At the same time, the United States said that the new brand quickly hatched and started the construction and operation of offline channels. In this regard, a large amount of capital investment led to a decline in net profit. In 2013 ~2015, its net profit was 3330.73 yuan, 31 million 907 thousand and 800 yuan and 15 million 814 thousand and 800 yuan respectively.

At present, the proportion of the company's business is still dominated by online sales, accounting for 98%, of which Tmall and Taobao share more than half, while the next line of revenue accounted for 2%.

Pure electric clothing enterprises start the strategy of O2O, which is a new business mode. There are huge differences in the way of personnel deployment, operation mode, supply chain integration and so on.

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In addition, the report pointed out that the shareholding system reform during the reporting period and investors' capital increase and share expansion will have a certain degree of impact on profits. The company expects that in the future business process, the multi brand strategy effect is expected to gradually appear, and the performance will start to release.

According to the prospectus, in the reporting period, the consolidated gross profit margin was 47.18%, 48.66% and 45.62% respectively, and the gross margin was relatively stable.

In costumes, the gross margin is higher than that of other companies, because its brand is located in high-end women's clothing, while the United States has the lowest position in apparel positioning, and its gross profit margin is similar to that of sinomi.

During the reporting period, the inventory turnover rate of Hui Mei is now on a slight downward trend, mainly due to the continuous incubation and incubation of new brands, while the new brand has a pitional period with slower sales.

At the same time, the sales category of Hui Mei extends to accessories and household goods, and its inventory turnover level is slightly lower than that of clothing category products.

Low inventory turnover will bring a certain inventory risk, but it is also a quick reflection of its supply chain reaction.

The fierce competition on the line calls for the consumption appeal of "fast supply and changeable styles" of individual consumers. With its own research and development of IOM system and BI system, Hui Mei has developed more styles for the efficient operation of Internet fashion brands.

In 2015, there were more than 6000 new clothes on the line, and the production volume of each item was relatively small.

Compared with the traditional offline business mode, the advantages of style and quantity distract the risk of design failure, and also reduce the risk of unsalable inventory.

Plan to invest in three important projects

According to the prospectus, the funds raised by the group after the listing are planned to be invested in three major projects, including the paction and interaction channel upgrading project (i.e. the O2O project), the fashion brand incubator construction project and the information construction project. The total investment in the three projects is expected to be 450 million yuan.

These projects are actually traceable in the current layout of the Hui Mei Group.

In July 2015, Yin man officially launched the O2O strategy of "Yin man +" thousand city stores, and laid down the online channel layout. In the 5 years, it planned to set up 10000 offline shops in 1000 cities throughout the country, and built the shops into a whole category of cotton and linen living space.

Among them, the first tier cities use direct operation mode to cooperate with large department stores, and the 234 tier cities will be open to join.

Inman positioning is to create a "slow life circle", at the channel level, without sub line online.

With the maturity of the mode of "Yin man + thousand cities and ten thousand stores", the United States will further copy it to other brands of the group, so as to integrate and optimize the resources of brand sales channels.

As for the fashion brand incubator construction project, at present, it has incubated more than 10 independent brands, including: Yin man, Chu language, living in left, samyama, Dali Fang, autumn shell (formerly known as Qiu Qiu), Pass, etc., while the main brand of the company derives several related sub brands, such as home brand HOME, children's wear brand Kid, and products category covers women's shoes, bags, sportswear, home decorations, furniture and so on.

After the fundraising, Sini will enhance the support of the designers on the basis of the existing main business.

It provides open resources supply chain, operation management, marketing promotion, team personnel, and corresponding financial support, so that designers can open up sales channels and share member data, so that designer brands can objectively and timely understand commodity and market demand.

Hui Mei also said that its "brand partner" has two identities. First of all, they are the soul and decision makers of the brand, and the second is the co creator and share of the brand equity income.

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In addition, Zhuhai remittance is a platform set up by Hui Mei Group for employee incentive plan, accounting for 9.17% of the total share capital of the company.

It is worth mentioning that, as the largest shareholder of the organization, the proportion of search and holding is 25.2%, second only to the number of shares held by the company's actual controller Fang Jianhua, Dan Yufang and its co operative 42.58%.

It is a listed clothing company based in Dongguan. It has previously invested in sinemi's announcement that it will share resources, business integration and complementary advantages in the use of capital market, online and offline brand operation, channel construction, supply chain management and so on, so as to jointly build a "fast selling fashion brand ecosystem".