China'S 500 Most Valuable Brands Fall Down

Recently, according to relevant

Media reports, in August 5, 2016, the Quanzhou intermediate people's court, according to the application of Zhongshan Hengyue textile and Garment Co., decided to accept the bankruptcy liquidation case of flag King (China) textile and apparel Co., Ltd.

In August 23, 2016, the people's Court of Luojiang District of Quanzhou tried the bankruptcy liquidation case of flag King (China) textile and apparel Co., Ltd., and on the same day appointed the liquidation team of flag banner (China) Textile & Apparel Co., Ltd. as the manager of the flag King (China) textile & Apparel Co., Ltd.

The creditors of flag banner (China) textile and apparel Co., Ltd. shall declare their claims to the company before November 2, 2016.

At 9 a.m. on November 18, 2016, the Luojiang District People's court will convene the first creditors' meeting.

Yes, the sentiment of "Xi De Long" bankruptcy has not yet passed. We once knew the southern Fujian cowboy flag. "The flag king" finally fell down, and the wind and Xiao Xiao were cold.

Founded in 1988, the flag King (China)

Ltd, specializing in leisure series of garments with jeans as its core products.

In the past twenty years of growth, the flag king has been the top 2 of the denim class in China.

Let's take a look back at the glory of the flag king.

In 97 years, it was recommended by the Ministry of internal trade as the "best seller in the country".

The 98 leading brands in the country in the year of ten.

The 99 leading brands in the country in the year of ten.

In 2001, China's market share survey by the Ministry of internal affairs of the state has again ranked the top in the same industry in the country. The company has won five consecutive awards.

2002, by the "China National Business Information Center" statistics, "flag king" 1-12 month jeans market comprehensive occupancy rate of fourth.

2003,

"Brand denim market share in the same products ranked third.

In 2004, the market share of the "banner king" brand Denim Market ranked second in the same category.

In March 2005, the Trademark No. 54798th registered by the flag king company was identified as the famous trademark in China.

In 2005, it was awarded the title of "China's 500 most valuable brand in 2005".

In 2005, it was awarded the title of "national inspection free product".

In 2005, the "banner king" denim ranked first in the market share of similar products.

In 2006, the design director of the flag king was awarded the honor of "the top ten designers in China".

In November 2006, it was awarded the "participation in the formulation of the standard of Chinese jeans industry" for 97 years, and was recommended by the Ministry of internal trade as the "best seller in the country".

Now these can only be a witness, and fade away with the flags that are no longer flying.

In the 2010 autumn new product conference, the chairman of the flag king, Shi Qing style, outlined the development goals of the company in the next 3 years with concise language.

"We will continue to enrich our products and styles, satisfy consumers at different levels, let the flag King become a well-known Cowboy brand, and let the flag King become the first listed jeans company in China."

6 years later, the flag king did not last until the day of listing.

The goal of the flag king "wealth is prairie fire, clothing and running the world" is only the spark that can not see the warmth in the cold winter.

Only memories and regrets left behind.

I think a pair of jeans will sell for more than 200 300.

"A brand with a feeling, what's wrong with it?"

"I wore the jeans for 8 years, but I fell flat."

In fact, the bankruptcy of the flag king is not a case in Quanzhou.

In addition to the above mentioned "Xi Long lung", last year to this year, some of the physical plants in Quanzhou do business difficulties.

Analysis of the reasons, it was said that this is the real economy slump; it was said that this is the result of multiple investment; some people say that this is a criticism of inadequate corporate innovation......

Jun also tried to summarize the reasons for this.

Blind sprint Market

Lang Xianping once pointed out that the blind listing of manufacturing industry is a tragedy.

Many manufacturing enterprises must invest a large amount of capital in order to go public, but the actual operation is not enough. As a result, the capital chain of enterprises is broken, and the development of enterprises is seriously injured.

For example, Anxi Tieguanyin group, Anxi Tieguanyin group has invested hundreds of millions of yuan to launch the listing plan, and has made IPO pre disclosure in June 2012.

However, due to changes in national policies, Anxi Tieguanyin group terminated its listing plan in 2013.

The Group invested a lot of money in the process of brand building and listing. After terminating the listing plan, the group was also affected by unfavorable factors such as macroeconomic downturn, consumption environment and market adjustment.

Blind expansion

It is undeniable that traditional industries occupy a larger part of Quanzhou's manufacturing industry. For example, shoes and garments in Jinjiang, stone and plumbing in Nanan, stone carving in Anxi, etc., in recent years, with the constraints of resources, environment, cost and other factors become increasingly tight, the traditional expansion road has narrowed.

The production scale and level of "small, scattered and many" processing enterprises are uneven. If we can not take the initiative in pformation and upgrading, we will have to face the outcome of limited production or collapse.

Banks tighten lending to small and micro enterprises

Why are many banks willing to lend to real estate companies instead of lending to manufacturers?

Real estate enterprises have collapsed. Their fixed assets, that is, their property is still there, and the bank can also be auctioned off, and the manufacturing enterprise is closed down, leaving the valuation of the plant, and there is little left to pay.

This phenomenon also led to small and micro manufacturing industry loans, and then a serious shortage of liquidity, enterprises can not operate properly.

Enterprise leader problem

Some directors of enterprises are not strong in their dedication and sense of responsibility, the financial system is not strict, and accounts management is chaotic.

Some even business owners gamble, owe a large amount of debt, and then take the company's property to repay the debt, to the company's business caused a drastic disaster.

Liability operation

Debt management is a double-edged sword, which can make enterprises rapidly raise funds needed, reduce operating costs, reduce tax burden and gain financial leverage benefits. But if enterprises choose unreasonable amount, limit, channels and ways, and improper use of debt funds, they will also bring many negative effects to enterprises.

Debt capital should not only pay fixed interest, but also repay principal according to the agreed conditions, without financial flexibility, and it is a fixed financial burden for enterprises. Once there is operational risk and can not repay debts due to maturity, enterprises will face greater wealth and lead to bankruptcy.