On Saturday, Chairman Zhang Zemin'S Life Was Not Very Good.

In the women's shoes industry generally faced with development difficulties, Saturday's chairman Zhang Zemin's life is not too good, he founded the Saturday shoe industry, has for many years experienced the embarrassment of declining performance.

Public information shows that the company's net profit began to show a clear downward trend from 2010. By 2015, the net profit of the company was only 22 million 530 thousand yuan, which was far from the net profit of 114 million yuan before 2009.

While grasping the production, Zhang Zemin still did not give up the channel marketing of "Saturday" chain stores. He has always believed that only by directly facing the end consumers and having a sales terminal network can the initiative of the market be grasps. In July 1994, the first ST&SAT shoe store opened after the separation began in Shenyang, which is the starting point of the sales terminal under the Saturday line.

Faced with the crisis, Zhang Zemin began to seek diversified development.

In March this year, the company name was officially changed from "Foshan shoe Limited by Share Ltd" on Saturday to "Limited by Share Ltd on Saturday". Zhang Zemin is weakening the image of the shoe industry's main business.

The industry predicament started from the macroeconomic downturn and the impact of the electricity supplier channel, and Zhang Zemin was obviously in deep trouble. The principle of simplification that he always adhered to had to be broken before slipping in the performance.

Zhang Zemin's rival BELLE international and 1000 degrees were also affected. In the first half of this year, the performance of these companies also declined to some extent, and the leaders of enterprises were seeking diversified directions of pformation.

Unlike some women's shoes companies, which tend to pform their industries to expand industries, Zhang Zemin seems to be inclined to the more fashionable "fashion IP" and "net red economy".

"And other emerging concepts, so far, Zhang Zemin has invested hundreds of millions of dollars in the above industry, but when it can be reflected in the performance, there is no specific timetable.

Recently, the reporter contacted the secretaries' office on Saturday on issues related to the development and pformation of the company, hoping to coordinate chairman Zhang Zemin and sent a written interview outline to the other party. The officials said that Chairman Zhang had always been relatively low-key, and eventually reporters did not get relevant reply from Zhang himself or from the company.

After 1993, Zhang Zemin gradually began to engage in shoe industry with the establishment of a company and shoe factories, and began to get involved in shoe production.

After that, Zhang Zemin began to explore the brand's long journey. In 1997, Zhang Zemin registered the "Saturday international enterprise (Hongkong) Group Co., Ltd." in Hongkong, and repositioned and packaged the image of the company.

By 2002, "Saturday" has been a brand design, sales and after-sales service, brand operation and so on.

In the next 10 years, "Saturday" has been on the fast track of development. New stores have been continuously expanding and sales have been improving year after year. The company also went public on the Shenzhen Stock Exchange in September 2009.

Since its development, "Saturday" has become the leading brand of women's shoes in 5 international brands, such as "ST&SAT" and "two" brands such as "Baldinin".

It is understood that at present, the brand of women's shoes is mainly located in the high-end market on Saturday, and the price of a pair of shoes is generally located at 300~1000 yuan.

There are two kinds of statements about the source of the company's name "Saturday": one is that in the Bible, God created human beings on Saturday, and mankind created history again. Zhang Zemin used this to express the brand appeal of "creating fashion and changing fashion". Another way of saying is that in the early 90s of last century, it was still six days working system. The survey showed that most people's happiness index was the highest on Saturday, and Zhang Zemin expressed the brand appeal of "bringing happiness to people".

The development of "Saturday" also brought hundreds of millions of wealth to Zhang Zemin and Liang Huaiyu. In 2015, Zhang Zemin and Liang Huaiyu ranked twenty-fifth in the Foshan rich list with the total assets of 3 billion yuan.

Unlike the women's shoes giant BELLE International's "big and all" diversified expansion mode, Saturday insisted on the "simple consistency" multi brand strategy, that is, vertically integrated attention to women's shoes, and the limited resources will be concentrated on the operation of women's shoes brand.

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At the beginning of the "Saturday" listing,

That is, the use of funds raised to vigorously expand offline stores, public information shows that the number of new stores opened on Saturday, 2010~2012, was 402, 396 and 555 each year. The expansion of stores under the previous line made the company quickly seize the market and improve the visibility of its products.

However, this way also leads to the high inventory of the company, which brings greater pressure to the subsequent operation.

In addition, Zhang Zemin's "follow up policy" has attracted the attention of market participants.

After the cooperation and betrayal of BELLE, Zhang Zemin turned to "close combat".

Each brand on Saturday has a corresponding relationship with BELLE brand, such as Saturday corresponds to BELLE, FONDBERYL corresponds to TATA, SAFIYA corresponds to Teenmix, MOOFFY corresponds to Staccato.

In addition, on channel expansion, BELLE took the strategy of following up with BELLE on Saturday, first entering the department stores in the first tier cities, taking the high-end route and gradually infiltrating into the two or three tier cities.

The so-called "shop in store", as the name suggests, is to open its own counters or stores in large retail stores.

It has to be said that Zhang Zemin played chess very cleverly. BELLE, as the leader of women's shoes industry, indeed has many experiences to learn from, and closer to BELLE can also improve the image of Saturday brand in the minds of consumers, forming a "Dongfeng" effect.

BELLE international bought the stake of Fashion Box SpA 29% of Italy Cowboy brand Replay earlier this year. It announced that it would spend 100 million pounds to buy the oldest toy store in Britain and enter the toy market with the full liberalization of the two child policy.

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What's different is that Zhang Zemin did not choose industry as a direction of pformation, but rather tended to think about how to combine new technologies with traditional women's shoes industry.

In 2013, Zhang Zemin started the layout of the electricity supplier channel, and the wholly owned subsidiary Agel Ecommerce Ltd was also formally established on Saturday. Data show that the subsidiary made a profit of 1 million 340 thousand yuan in the first half of this year.

This year, Zhang Zemin put forward the new development direction of the company, that is to say, the new strategy of building a fashionable IP eco ecosystem. In particular, we use social networking and other means to achieve traffic aggregation, content production and business realisation.

In the Internet age, a famous net red and a so-called "story" can make products sell for sale. Zhang Zemin is looking at the opportunity of development.

He has already started to act. On Saturday of July, he bought a 80% stake in the vertical fashion media ONLYLADY, a 70% stake in kimiss and a two stake in the vertical development of the Internet fashion media business.

At present, its brand collection store on Saturday has combined with OnlyLady's red cross dress show on several platforms.

It is important to note that Zhang Zemin's pformation completely subverted the traditional footwear industry's trading and marketing methods. There is a strong sense of pformation in the pformation. There is no doubt that if the resources can be effectively integrated as he expected, then the fission propagation effect is indeed very impressive. There are still many breakthroughs at present, such as the slaughter of net red market and the low conversion rate of users. These are not the areas that Zhang Zemin has been good at before, and how he will operate at the next stage remains to be seen.

In addition, Zhang Zemin has invested 5 million yuan in the currently very hot VR (virtual reality) industry, and the company shares the Guangdong Nanhai Eagle Vision Tongda Technology Co., Ltd. through its fashion innovation and acquisition fund. It is understood that the eagle is engaged in the research and development of FPV glasses, and has also started the research and development of the VR content.

In this regard, Fang Quan an said that the participation of Eagle Vision will bring a significant boost to the research and development of footwear display technology, and also can stimulate the intelligent upgrading of stores.

At this time, it has been 7 years since it was listed on Saturday. An interesting detail is that, on the occasion of the listing ceremony, Zhang Zemin presented a crystal shoe to the Shenzhen Stock Exchange on behalf of the company. After 7 years, crystal shoes did not make Saturday become the "Princess" of investors. Then, in the next 7 years, whether Zhang Zemin can still highlight the tight encirclement is also a question worthy of industry attention.