Vigna S Pformation And Upgrading Layout, Overseas Brewing To Create "Brocade" Brand

According to the world clothing shoes and hats net, it is well-known in China.

Listed company

Accelerating diversification and internationalization

In the development strategy, after completing nearly 5 billion yuan acquisition of the famous brand "Winnie bear" of Korea's clothing and love brand, through the internal pformation and upgrading, we will accelerate the creation of a luxury clothing brand with Chinese elements.

"In the field of textile and clothing representing the cultural charm of the Chinese nation, China will be able to breed world-class brands in the future."

Tao Weimin, vice president of Vigna S, said in an interview with reporters.

Billions of dollars were spent. Vigna S bought the brand of "TEENIE WEENIE" three times larger than that in 2017, and was praised as an example of "snake swallow elephant" in the domestic garment industry.

In September 2016, vickas announced the acquisition of the TEENIE WEENIE brand and related assets and business of the Korean clothing and love group. The takeover took two steps. The first step was to acquire the 90% stake of the target company, and the second step to buy the remaining 10% of the stock after the three complete accounting year.

At the beginning of this year, Vigna S and his wholly-owned subsidiary, Shanghai Hertz Fashion Co., Ltd. jointly registered and established the Nanjing Jin Ge garment industry investment partnership (hereinafter referred to as "Jin Wei Ge"). The company will get a 90% stake in sweet Shanghai (Shanghai) business limited company (target company) through Jin Wei Ge's capital increase, so as to realize the first acquisition of TEENIE WEENIE brand and related assets and business of Yi Xin Hongkong and its related parties.

In March 2017, the company announced that the company had made an initial delivery of assets with the seller, paying a total consideration of 4 billion 128 million yuan.

The company has obtained the operation control power of the target company, reorganized the board of directors of the target company, and changed the business license.

In order to smoothly promote the company's acquisition of TEENIE WEENIE brand project, Wang Zhiqin, the company's actual controller, has provided guarantee for the company's acquisition of capital contributions and loans through the form of share pledge.

According to previous announcements, the company's actual controller Wang Zhiqin holds 48 million 328 thousand and 200 shares of the company, accounting for 32.66% of the total share capital of the company.

Up to now, 48 million 267 thousand and 200 shares have been pledged, accounting for 32.62% of the total shares of the company.

Among them, 18 million 267 thousand and 200 shares were pledged (12.34% of the total share capital) to the Hangzhou investment and investment partnership, and 30 million shares were pledged (20.27% of the total share capital) to the Nanjing branch of China Merchants Bank. Song Yanjun, the company's actual controller, held 37 million 732 thousand and 800 shares of the company, accounting for 25.50% of the total share capital of the company. Up to now, 37 million 732 thousand and 800 shares have been pledged to Hangzhou investment company, which accounts for 25.50% of the total shares of the company.

Through these pledge of shares, the company's actual controllers Wang Zhiqin and Song Yanjun invested in the investment partnership of Hangzhou Jin Pai Wei Ge and the company provided free guarantee to the Nanjing branch of China Merchants Bank.

The company said that the pledge does not exist early warning lines and clearing lines. Neither Wang Zhiqin nor Song Yanjun can obtain any funds through share pledge. The relevant obligations of future equity debit will be borne by the company.

Vigna S investment projects have been completed with the acquisition of their own funds, the company's fixed increase plan is still in the fourth revision.

This has also been the concern of the SFC.

In the feedback, the SFC pointed out: "in February 28, 2017, when Mr winnsse convened the board of directors to revise the issue plan, he signed the underlying asset delivery agreement with the paction side.

I would like to invite Vigna S to add that it is still reasonable and necessary for us to raise investment projects.

"The acquisition of TEENIE WEENIE brand, the company has invested about RMB 4 billion 200 million yuan, of which the market financing of about 3 billion 600 million yuan, the annual cost of capital required to repay about 240 million yuan, major shareholders have all assets and assets for the acquisition of the company as collateral."

Tao Weimin told reporters.

He said frankly that the above loans should be gradually returned through the subsequent capital market financing or the net profit of the enterprise operation, but the current capital market situation will undoubtedly increase Vigna S's difficulty in financing the market.

It is understood that the TEENIE WEENIE brand was established in Korea in 1997 and introduced into the Chinese market in 2004. Now it has become the leading high-end fashion casual wear brand.

The acquisition of TEENIE WEENIE brand not only enriched the product line of Vigna S, increased the scale of income and profits of the wagnnasse group, but also opened up new space for further development of the group. On the basis of successful acquisition, the company will continue to push forward this strategy, and create diversified brand strategy and industrial chain advantage through mergers and acquisitions.

Tao Weimin said.

{page_break}

The company's semi annual report shows that in the first half of 2017, there were 24 stores in the store, including 21 outlets, the number of stores decreased by 20.79% over the same period last year, and the number of franchised stores was 3, a decrease of 46.15% over the same period last year.

"This series of changes is actually a continuous upgrading of VGRASS brand."

Tao Weimin told reporters that we must see that at present, the clothing industry is facing a very fierce challenge. Besides the competition between domestic brands and international brands, sales channels have also undergone great changes. The traditional single retail department stores have gradually been replaced by diversified shopping centers such as shopping, catering and entertainment, and traditional offline sales have been gradually impacted by online sales mode such as e-commerce.

This also forced clothing enterprises to layout pformation ahead of schedule, otherwise they may face a crisis.

He told reporters that because of this, the company began restructuring in 2015.

On the one hand, we began to adjust and close the traditional department stores and franchised stores; on the other hand, we also increased the store layout and online layout of shopping centers.

"Profitability in the short term will definitely be affected, but in the long run, it will bring more benign impetus to the development of the company."

He said.

The reform and upgrading has achieved initial success. Despite the continuous upgrading of the brand from 2015, the brand investment continued to increase, the number of shops continued to decrease, and operating income and net profit continued to decline. However, in the first half of 2017, the profit margin went up year by year (the number of stores decreased by 22% compared with the same period last year).

In addition to building a good sales channel, the reporter learned that, in order to better upgrade the brand, Vigna S began to work with international advanced fabric suppliers in 2015 to increase investment in design and research, and learn from each other in Milan, Seoul, Shanghai and Nanjing, and cross competition, continuously optimize the product process, and polish and perfect the supply chain system.

"The consistent series of actions has made the value of VGRASS products and brands significantly improved, and the core competitiveness and market position of the brand have been significantly improved. At the same time, it also accumulates experience, training ability and training team for the next generation of" luxury brands with Chinese cultural elements ".

Tao Weimin told reporters.

"Brand internationalization" is also an important part of Vigna S strategy.

"Economic reference daily" reporter learned that Vigna S at the end of 2016 registered in Italy VGRASS ITALYS.R.L. (Italy Co., Ltd.), in the first half of this year in Italy Milan top fashion block rental shops and office space, set up fashion research and design institutions, invites internationally renowned creative director and designer team to launch a high-end Chinese fashion with both Chinese cultural elements and international trend of fashion ITALYS.R.L..

It is worth mentioning that the VGRASS high fashion store in Milan is going to open at the end of this year to display the fashion and artwork incorporating Chinese culture elements such as cloud brocade embroidery.

"The acquisition of brocade brand is actually an important strategic layout of the company, and it hopes to create a truly luxury brand that can come from China and represent Chinese culture."

Tao Weimin told reporters.

It is understood that Vigna S acquired the Nanjing brocade Institute in 2015.

Yun brocade has a history of more than 1600 years, of which over 600 years are royal imperial supplies, representing the peak of the development of ancient Chinese silk textile technology, and the enrichment and embodiment of Chinese culture in the field of textile and clothing.

He said that in addition to the acquisition of funds, Vigna S has invested tens of millions of yuan into the daily operation of Yun Brocade Research Institute. Although the acquisition of cloud brocade project can not see returns in the short term, it will provide Vigna S with the most fresh blood in the long term to create a new brand for the international market.

"We hope to integrate the elements of Yun Brocade into VGRASS women's clothing first by expanding the overseas market mode. At the same time, we will lay the foundation for the next step to launch the new independent women's brand with cloud brocade as the core."

He said.

In his view, the luxury brand that creates "the characteristics of Chinese cultural elements" is a competition with strong competitors such as international brands and international luxury brands.

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