Listing Has Three Difficulties: Traffic, Supply Chain And New Story.

More than three months ago,

10 families were received.

Soon after, the Tmall platform set up a "listing office to assist the merchant", and a pre - market interview and data due diligence for the listed companies on the platform.

In just three months,

And the company is planning to land on the new third board and the growth enterprise board.

According to incomplete statistics, there are nearly 50 enterprises on the platform of Ali.

In May 9th, "Ali platform merchants walked into the Shenzhen Stock Exchange" activities. These brands, which carry the dream of A share financing, were exposed, including three squirrels, good shops, AFU cosmetics, beauty makeup, digital Ningmei, SOMIC and so on.

Relatively speaking, several clothing businesses are more aggressive, competing to seize the status of "Amoy brand first share".

In the post electricity supplier era of online shopping dividends, whether the wave of listing of the wave brand is declaring strong or revealing worries? If you want to invest people to pay for it, the Amoy brand should cross at least three hurdles: Ali platform traffic growth hit the ceiling, supply chain management chaos, and a new story -- how to survive Taobao's halo?

Supply chain to seize the lifeblood instead of factory

There is no doubt that the supply chain is often the key to branding the brand. Many brands are out of control because of the supply chain management.

Amoy brand is even more so, the order quantity is small, the replenishment rhythm is not fixed, causes the factory to be unable to arrange the production cycle reasonably.

3 years ago, Fang Jianhua, founder of emann, once brought the pain of supply chain to the table. "Poor supply chain management will be the next disaster for Chinese brands and world brands."

"We stopped working last year, and the clothes of Han Du Yi house were too hard to make. The whole factory was making a mess."

Last year, the wholesale factory of Han Du Yi house, which was also wholesale online, revealed to the IT times that each product of Han Du Yi house only produced 300 500 pieces, which approached the minimum production standard of the production line. In addition, the additional order was required for the explosive charge. The warehouse was sent to the warehouse of Han Du Yi house in 7 to 10 days, which seriously disrupted the production rhythm of the factory and affected the orders of other partners.

So their factories turn to produce OEM for overseas children's wear brands, with orders of several thousand or so.

Since 2008, there have been more than 1000 suppliers who have worked with Han Dali house in this way. With a sample factory to find a factory, some factories have no more than one hundred orders for every order. Some factories have been "driven mad" in a few months' cooperation.

Yemann's situation is not as good as where to go. Fang Jianhua reflected that he had put half his energy on the supply chain, and sales and production were often noisy in the office.

Unplanned addition, crazy expansion of categories, a large number of shipments lead to longer shipment and slower storage turnover.

The arrival of large quantities in the peak season also led to the pressure of the rear product inspection and the explosion of the warehouse became commonplace.

Since 2013, almost all Amoy brands are talking about flexible supply chain. The so-called "flexibility" is to ensure the quality and delivery time, which can satisfy the number of orders that can be more or less.

"So far, no clothing brand has really managed the flexible supply chain, which involves many aspects, including membership management system, IT technology support, a large number of designer resources and the ability to manage multiple brands."

A brokerage analyst said.

When the new product is being sold, the brand name can be analyzed in a very short period of time. The first time the explosive payment will be added to the order, the first time will be discounted, but the factory can not keep up with the first time.

In order to ensure the delivery of nearly 30 thousand new products per year, the solution now is to send employees to the factory to participate in the production process, leaving only 60 core suppliers.

The reporter found a supplier of the initial language (the sister brand of Iman). The other side disclosed that they were producing in three factories in Beijing, Guangzhou and Jiangxi, and about 90% of the businesses were targeted at the initial language.

If there are other customers who want to make a sample version of the initial language, as long as 300 or more copies of each edition are available, they can place an order to ensure delivery in half a month. If only a small quantity of goods is required, the order can be placed directly on the 1688 website.

"Basically, we have to make 30 thousand to 50 thousand explosions in our initial language, and our factories basically do all these explosions.

The other side revealed.

In the 1688 shop of the supplier, the reporter saw more than 1200 records of pactions, and 16 of them were full code spot. If 3 items were counted, the more than 2000 shirts that had the most turnover were sold.

The shirts in the initial Tmall flagship store show 120 monthly sales and 1537 stocks.

To a certain extent, we can see that the ability of Tmall platform to consume inventory is weakening, and suppliers need to find more wholesale channels to inventory.

According to the report of the Hui Mei group of the EMMAN parent company, the output in 2013 was 5 million 390 thousand, but the sales volume was 4 million 790 thousand. In 2014, the sinemex group produced 9 million 460 thousand pieces and 8 million 20 thousand sales. Obviously, the group produced a large amount of stock in 2015.

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Hit the ceiling Online

After you get the money, you still have to make a line.

With the flow of Tmall Taobao, such as UNIQLO, ZARA and other international brands, and the ebb tide of online shopping bonuses, Amoy brands began to hit the traffic ceiling of Ali platform.

The Amoy brand with strong operational capability began to separate from Ali's mother body and find new traffic supplies such as vip.com and Jingdong, but most of the brands still rely on Tmall Taobao's traffic to feed.

In 2013, Taobao accounted for 83.17% of revenue, 7.37% from vip.com and 4.1% from Jingdong.

By 2015, Taobao accounted for 58.49% of its income, accounting for 36.36% of its revenue from vip.com and 2.58% of its revenue from Jingdong.

Similarly, from the channel of Yin man, we can see that the sales volume from Tmall Taobao has declined in recent years, while the sales volume from vip.com has increased year after year.

From the perspective of total income, the net profit of RM and emann in 2015 was lower than that in 2014 except for the Korean homes, especially the net profit from 31 million 900 thousand yuan in 2014 to 15 million 810 thousand yuan in 2015.

Under such circumstances, it is not difficult to understand why Ali wants to take the Amoy brand to the line.

At the end of April, Ali held a new retail platform business conference to encourage Amoy brands to open stores.

From the media exposure of Tmall open shop under the cooperation plan, Tmall will combine element type life hall, meow street, Gao De map, hand Tao, Alipay built online and offline O2O scene shopping area.

Set up five screening thresholds for brands, online sales exceed 50 million yuan, the actual selling price is not less than 3 times the cost, warehousing and logistics system is perfect, online and offline share the same price, brand is determined to follow the O2O mode.

Tmall plans to allow the Amoy brand to own 100 separate counters store in one year.

According to vegetarian lifestyle Museum, each experience shop's investment is about 4 million yuan.

Wool always comes out on sheep, so the cost of opening stores under these lines needs to be digested by the brand.

Aside from the learning cost of shop location, display and shop assistant training, can the net red shops who occupy Taobao's sales rank really "see the light"? Without the beauty map artifact, there is no temptation of Red Net's private clothes, and the quality and price of direct line with the similar brands can't be imagined.

Among the three companies to be listed, apart from the abandonment of Han Du Yi house, the strategic focus is on the offline channels.

In the past three years, the income generated by the mode of splitting the silk line has accounted for 0.55%, 0.61% and 0.28% respectively.

The decline will not affect the distribution of silk and the attention of offline channel construction. In the future, the funds raised will also be allocated 50 million for offline brand channel construction projects.

In 2015, Yin man first explored the way to start the program of "Yin man + thousand city stores", and the revenue of the parent company's first year line reached 2.01%.

After the issue of raising funds, the primary investment project is to build O2O, and create a full channel sales network.

Listing has three difficulties: traffic, supply chain and a new story.

Nowadays, a few Amoy brands competing for listing are mostly acquainted with Taobao when they are on the market.

At first, the two sisters, Tang Feng Feng and Tang Xiao Feng, who founded the rags and silks, sold Taobao from some ethnic costumes in Yunnan. With the ability of photography and graphic design, the two sisters quickly owned their first workshop in 2007, which is located in a private house in Tongzhou. It started from a master, two sewing machines and three or four workers, and sold its own national costume.

A year later, Zhao Yingguang, founder of Korea's clothes house, resigned from state-owned enterprises and decided to become a Han Fengkuai fashion brand.

At that time, a professional fashion designer was not found in Ji'nan, so he recruited 40 students from Shandong arts and crafts College as buyers. They selected 1000 brands from the South Korean clothing websites, each responsible for 25, picking 8 from Taobao every day and ordering them from Korea's website.

This is the embryonic form of the amoeba system, and now it has developed into 300 groups.

According to DT financial statistics, by 2010, Taobao launched more than 80 Amoy brands, backed by Ali Mountain, and the annual growth rate of most Amoy brands exceeded 300%.

This story is enough to allow Han Du Yi house to attract investment from Star VC, an investment organization founded by Quan Ren, Li Bingbing and Huang Xiaoming. It has also been favored by the investment institutions such as Sequoia Capital and Jingwei China. But the "best era" has passed, and the brand must tell a new story.

According to the reporter's understanding, after the application of IPO, Amoy brands and accountants also need to interview Ali on the spot.

According to the requirements of the SFC, it is necessary to get the contract agreement, sales and operation data of the platform between the merchants and Ali in the reporting period, and also need Ali to issue verification information about the market position of the merchants in Tmall.

"Assisting businesses listing offices" has undertaken these docking tasks.

So far, there is no case of Amoy brand listing, which can be referred to. Is this going to slow down the brand listing process?

After studying the statements of Ru Bo, Han Du Yi house and Hui Mei Group, a brokerage analyst told reporters that Amoy brands did not show better profitability than traditional brands, and the difficulty before them was the decreasing flow rate, the immature supply chain management and the rising marketing costs on Ali platform.

A cosmetics company of Tmall complained to reporters that the current brand of Amoy brands needs to bear various kinds of expenses, such as advertising, through train and technical services.

And the cost of Tmall's single traffic pformation has changed from 0.3 yuan to 1 yuan.

The marketing cost of Tmall Taobao has increased year by year, and now accounts for about 30% of their total cost. Compared with offline shop, it has no cost advantage.

Although there is no investment from offline stores and middlemen, the investment of Amoy brands who rely too much on traffic has already exceeded the cost of opening stores.

"In the eyes of securities dealers, the electricity supplier's dividend has passed, and when assessing these listed brands, they will take off the aura and consider it according to the general clothing products."

The brokers analysts believe that walking down the line may be a new story for Amoy brands, but it is very difficult.