Is The Dream Of Big Sports Industry Heading For Thorny Or Smooth Road?

Recently,

There are many "expensive people". First, we plan to invest 368 million yuan to acquire the remaining 49% stake in the holding subsidiary company, the Network Technology Co., Ltd.

The layout of online channels, and its investment in Tiger Park Sports were terminated by the SFC. Investing in tiger sports is an important layout for the operation of traditional sports shoes and apparel industry to sports industry.

Can the noble birds who are on the road of pformation enter into the dream of their big sports industry? Is the future a thorny or a smooth road?

"Divide" and embark on the road of pformation

According to the world clothing shoes and hats net, the birds in the early stages of development learn from "

Mode.

In 2012, the development of the noble bird reached its peak. The company's revenue reached 2 billion 800 million yuan and its net profit reached 500 million yuan.

The noble birds from the founding of that period to the period were not brilliant.

The watershed appeared in 2013. In that year, the performance of expensive birds fell by 15%-20%. Although the A shares were listed in 2014, there was no big change.

The shrinking of the main business has led the birds to the road of pformation.

Profit of entering sports industry in an all-round way

Since the rotation sports industry, BOY has invested in Spanish football brokerage company, cooperative tiger, big, China Sports Association, and set up many campuses companies to plan campus sports, cooperate in establishing Ankang insurance, and acquire Bong Heng insurance, etc.

The acquisition of Wellcome fitness will further enrich the layout of the sports ecosystem and provide stable cash flow and new growth points for you.

With the help of abundant industrial resources, you will support the collaborative development of the existing business segments while seeking more M & amp; e sports.

The continuous investment layout of the expensive bird can see its ambition in the sports industry, from the main business of sports shoes and clothing as the core business to all aspects of the sports industry.

The tiger Poke's stake is the beginning of the entry of the noble bird into the sports industry. At the same time, it opens the window of the sports industry information. The agent of AND1 can gain the advantage of "Chinese and Western combination". From the perspective of channels, besides the offline stores and the intention of going online, the acquisition of the shoe library shows the intention of the birds entering the line.

The acquisition of Welsh fitness can open the entrance to the first tier cities.

It is not difficult to see that the "noble bird" is developing in a big and all-round way. The layout is reasonable, but the large-scale acquisition and capital action will bring enormous financial pressure. The profit effect of the investment project still needs time verification.

Data look at Transformation: the main business is not diversified.

From the point of view of revenue and net profit, in 2016, the company achieved a profit of 2 billion 279 million yuan, an increase of 15.74% over the same period, and a net profit of 293 million yuan attributable to shareholders of listed companies, down 11.81% from the same period last year.

From the point of view of sub business type, in 2016, the company purchased many sports companies, and its business scope extended from the single brand operation to the three major businesses, namely, sports brand shoes and clothing retail, merchants generation operation and football brokerage.

Sports shoes and clothing, investment promotion and operation, sports brokerage business respectively achieved 22.19 billion yuan, 32 million 809 thousand and 200 yuan and 19 million 136 thousand and 200 yuan respectively.

From the point of view of the operators, the expensive birds purchased the Jay trip, the famous shoe store and BOY, and increased the income level.

In 2016, the main brand of noble bird earned 1 billion 890 million yuan, down 3.98%.

The main business income of the main bird business is still mainly derived from the brand of the noble bird. The products of the bird and bird shoes are mainly produced by independent production, and the clothing and accessories products are outsourced.

As far as the number of stores is concerned, as of December 31, 2016, the brand marketing network of the "noble bird" covers 31 provinces, autonomous regions and municipalities directly under the central government, with a total number of retail terminals reaching 4106.

According to the first quarter earnings report in 2017, the income of 420 million people decreased by 19.78% compared with the same period last year, mainly due to the decrease of 356 stores (-8.11%) compared with the same period last year, and the reduction of 74 yuan in the chain. In addition, the Spring Festival in January also led to the earlier shipments of dealers.

While the layout of large birds is large, there is no qualitative leap in all aspects.

Its layout focuses on the future, and the pformation is inevitable when the whole sports industry is becoming increasingly competitive.

But it is worrying that the main business is not improving.

The role of investment in M & A projects is not yet known.

Opportunities and challenges lie in big industries

"Big and complete" seems to have become a trend of clothing enterprises.

When a few garment enterprises develop to a certain extent, they choose to expand to related industries so as to ensure the sustainable development of their businesses.

This pformation of noble birds should be both opportunities and challenges.

When the price of 2 billion 700 million yuan is acquired by the expensive birds, it has been on the down balance for several days. The announcement is renamed "omnipotent sports" but has been halted. The tiger Rush has been terminated by the SFC and so on. It can be seen that there is a long way to go for the pformation of the birds. Not only the internal integration takes time, but also the external invasion of international sports brands such as Adidas and Nike, and the attention of Lining, Anta, PEAK and other domestic brands.

But in the recovery of the sports industry, the bird still has the space to work hard.

Attachment: some important measures for layout of sports industry

At the beginning of 2015, the BOY joined the tiger sports and the Spanish football brokerage company to set up the 2 billion sports industry fund.

In May 2015, it signed the framework agreement with the Federation of physical education and sports associations, and arranged the resources of sports events on campus.

In November 2015, the birds released 1 billion 600 million yuan increase plan, of which 530 million yuan for sports cloud platform construction;

In June 2016, it invested 383 million yuan to acquire part of the stake in Jay's Bank and increased its capital to become the latter controlling shareholder.

In July 25, 2016, it announced that it would invest 100 million yuan to increase capital and become the largest shareholder of Shenzhen Xingyou technology.

In September 3, 2016, it invested 382 million 500 thousand yuan to acquire 51% stake in Xiamen shoe store.

In October 2016, it announced the acquisition of the exclusive trademark operation right of the basketball equipment brand AND1 in Greater China in the next 31 years.

In March 12, 2017, the 2 billion 700 million completed the Wellcome fitness acquisition.

More interesting reports, please pay attention to the world clothing shoes and hats net.