Clothing Mergers And Acquisitions Cases: Women'S Clothing Enterprises Such As Song Li Si, An Zheng Fashion, And So On Are Making Efforts.

In the background that women's wear listed companies are generally improving in 2017, many women's clothing enterprises plan to accelerate the pace of enterprise development through investment mergers and acquisitions.

In the annual business plan of women's clothing enterprises, we can have a glimpse of the development direction and characteristics of enterprises in the investment and merger.

Ann fashion: making up for missing products is the main direction of company investment.

In the 2017 annual report, an Zheng fashion said that while doing the existing brand, the company needs to introduce agents, joint ventures, share or buy some fashionable brands at home and abroad or create some new brands.

On the basis of existing clothing for men and women, new products can be enriched, such as children's wear, men's fashion brand, shoes, bags and accessories.

Besides fashion products, fashion services should be introduced to meet the different tastes and needs of different consumers.

In the year 2018, it is a year of investment in strategic direction. It is the main direction of company investment to improve the company's brand matrix and make up for the lack of categories. With the opening of the "second child" policy to make children's clothing market promising, the main direction of the company's investment in 2018 is children's clothing. At the same time, it will also pay more attention to tide brand, network brand and high-end brand, and seek strategic cooperation with foreign luxury brands.

In terms of channel, the company will focus mainly on domestic offline entities and cross-border electricity providers.

In 2018, the company integrated investment resources and set up a platform through intermediary service resources, laying the foundation for later investment and acquisition projects.

Voice: continue to buy high-end to light luxury brand positioning

In the 2017 annual report, the company said that since the listing, the company has gradually completed its pition from single brand to multi brand operation mode through the acquisition.

In 2017, the company completed the acquisition of the French luxury designer brand IRO and the American designer brand VIVIENNE TAM, expanded the high-end brand lineup, and initially completed the pformation from single brand to multi brand fashion group.

In 2017, IRO opened 5 terminal stores in Shanghai port Hui square, Beijing SKP, Nanjing and so on.

As of April 2018, VIVIENNE TAM has opened terminal stores in the central shopping center of Beijing palace and the Holiday Plaza in Yitian, Shenzhen.

He said that in the future development, the company will continue to take M & A as a way to cut in, and constantly introduce high-end to light luxury positioning brand, enrich the company's brand lineup, realize the profit of single store in the regional market, and promote brand growth.

The company will identify and tap advanced brands that are in line with the company's strategic positioning and timely intervene in the business development of the lifestyle area suitable for the target audience.

Companies will also be concerned about the trend of integration online and offline, and timely involvement in the new retail mode.

At the same time, he thinks that international brands attach importance to China's huge market capacity and speed up the pace of entering China. As international brands enter China to achieve good performance, they must localize their products and brand promotion and launch products and services that are suitable for the Chinese market. The international brand itself needs to find strong partners in China.

Therefore, compared to a long time from the creation of brand, investment or acquisition of international mature brand and operate in China, become the expansion opportunities of domestic garment enterprises.

Ke Eli Till: seeking acquisitions opportunities to expand brand portfolio

In the 2017 annual report, Ke Eli Till believes that in the face of diversified consumer demand, changing fashion trends and homogenization of competition, high-end women's clothing enterprises are heading for multi brand or diversified development paths, and use capital market to build new brands or new businesses by means of extension.

The company will seek acquisitions that help expand the brand portfolio to meet the needs of a wider range of customers.

Ke Eli Till bought two women's clothing brands in 2017.

In March 2017, the company entered into an agreement with Shanghai's Codi Industrial (Shanghai) Co., Ltd. through its 90% interest Affiliated Companies, the Codi Brand Management Co., Ltd., and acquired assets of AI Si Kai Industrial Company for about 64 million 540 thousand yuan in cash.

Data introduction, AI Si Kai Industrial Company operates two women's clothing brand "Obzee" and "O" 2nd.

O '2nd targeted women with economic strength from 25 to 40 years old. It is stylish and detail oriented. Obzee is targeted at women with 30 to 50 years of economic strength, with fashionable and feminine costumes and lace decorations.

Continue to pursue diversified mergers and acquisitions

In order to achieve the company's "Pan fashion" strategy, the company has implemented a series of mergers and acquisitions at home and abroad in recent years, including green baby, cosmetics, medical beauty and asset management, according to the 2017 annual report.

Since the beginning of 2016, the company has entered the medical beauty industry. At present, it owns the comprehensive medical beauty brand "Milan Bai Yu" and the medical beauty chain brand "crystal skin beauty" through holding.

In 2017, the French medical group added 3 new skincare clinics in Chengdu and Xi'an respectively through investment holdings and employee partner programs, and launched the "high life" brand in Xi'an at the end of 2017.

In addition, in 2017, the company established a joint venture with the Korean bank group, the Korean financial group's subsidiary of Korea Asia financial group, to set up the "Lan Zi Han Ya Asset Management Co., Ltd.".

At the same time, the company said that diversified acquisitions and investments are now based on maintaining the independent operation of the company and carrying out business docking and personnel integration, giving full play to the complementary advantages of respective industries and industries.

However, in the process of synergy, there will inevitably be a strategic synergy resulting from changes in the external environment after the merger, financial synergy arising from the friction of the financial integration process, and human resources synergy risks caused by the differences in regional culture and policy systems.

Vigna S: widening the target market through mergers and acquisitions

Vigna S said in the 2017 annual report that at present, the company has 3 brands through mergers and acquisitions, and broadens target market coverage through 3 brand different market positioning.

The "Yuan Qian" brand, which takes the cloud brocade culture, is positioned in the top fashion brands to meet the top customers in pursuit of the Royal brand. The main brand VGRASS brand is located in the high-end women's wear line brand. TEENIE WEENIE brand is located in the middle part of the fewer ladies, while TEENIE WEENIE's men's wear, children's wear and other brands are also positioned at the middle end price.

Vigna S said that in 2017, the company acquired TEENIE WEENIE brand assets and business in cash, completed its first asset delivery in March 2017 and incorporated the TEENIEWEENIE brand business into the consolidated financial statements of listed companies.

Since the three quarter of 2017, the performance of TEENIE WEENIE has rebounded.

During the period from March 2017 to December, the net profit of the TEENIEWEENIE brand was higher than the cost and other expenses paid for the acquisition project.

In 2017, the company achieved operating income of 2 billion 564 million, an increase of 244.5% over the same period last year, and business income increased by 9.5% compared to the same period last year. The net profit attributable to shareholders of listed companies was 190 million, an increase of 89.32% over the same period last year.

At the same time, Vigna S also believes that the overseas luxury brands have risen vigorously in China in recent years, such as the US luxury brand Coach and Micheal Kros, and have achieved very good results in the Chinese market.

Domestic clothing companies also began to seize market share by acquiring foreign light luxury brands. For example, Semir clothing has gradually acquired the Chinese agent of Sarabanda and Minbanda of Italy's well-known children's wear brands, and has continuously acquired 3 international luxury brands and a luxury generation business operator.

On the other side, Shandong Ruyi group is also trying to seize the bonus period of the industry through the acquisition of overseas light luxury brands.

La Natsu Bell: plans to invest overseas to enter the overseas market

In its 2017 annual report, La Natsu Bell said the company's goal is to become a multi brand and all direct fashion group, offering fashion, quality and cost-effective clothing products to the masses of consumers and a high quality lifestyle.

In the next three to five years, in order to achieve the above business development goals, the company will expand overseas through investment and merger and acquisition.

At the same time, we will introduce foreign high-end products and brands into China, and create multi brand operation system through multi brand differentiation.

In 2018, the company will continue to buy domestic and foreign brands and companies, enrich the company's product line and expand the market coverage area.

La Natsu Bell said that in order to strengthen the cross coverage of the mass fashion casual wear market, the company will continue to introduce more differentiated fashion brands for men and women, such as the local fast fashion brand UlifeStyle, the e-commerce brand OTHERMIX, the men's wear brand JACK WALK, O.T.R and MARC ECKO, and the high-end high-end women's clothing brand Siastella.

The company also prompts that in order to launch and develop new brands, the company needs to invest a lot of financial and operational resources. The company will face the challenge of the success of the new brand's market positioning, promotion strategy and pricing policy, and can not ensure that the new brand will be successful or profitable.

If the development of these new brands fails, the company may be faced with the risk of failing to achieve the expected plan and get the relevant return.

Women's clothing listed companies on the same starting line, investing in mergers and acquisitions is an important thrust.

At present, more than ten women's clothing enterprises listed in the capital market, in addition to the popular fashion casual wear enterprises such as Taiping bird and La Natsu Bell, the majority of the other high-end brand women's clothing enterprises are currently in the "breakthrough" stage of 2 billion, roughly 2 billion to 2 billion 500 million yuan.

The total market capitalization is generally not more than 15 billion yuan, which is also true of the popular fashion women's clothing listed companies with relatively high revenue.

This reflects that compared with men's clothing, public leisure and new main business of pformation, women's clothing enterprises still belong to the "potential" sector in the capital market, and expect the emergence and emergence of strong leading enterprises. At the same time, we can see that the women's clothing market is still a competitive market.

Whether it is industrial development or capital

The stronger the stronger is an inevitable trend. These women's clothing listed companies are already the "best people" in the women's clothing market. However, those who are in the lead need more.

Under such circumstances, it is expected that the next few years will be a critical period for the development of women's clothing enterprises. The women's wear enterprises will continue the development of the two years, accelerate the layout of diversified brand and multi category business structure, and seize market share and consumption flow.

For example, more women's clothing enterprises want to enter the lifestyle field, not only the product brand, but also the service brand; not only to launch the mass brand, but also to provide high-end brand, middle end brand and light luxury brand; not only provide more women's clothing brand, but also provide men's clothing brand, children's wear brand and lifestyle brand, not only to seize the domestic brand.

And overseas markets.

In the process, apart from the introduction of private brands and products, the investment and acquisition of more external brands will become an important way for many women's clothing enterprises to expand their scale.

Just as we emphasize, it is particularly important for us to carry out integrated management after M & A and rationalize the development logic and structure between multiple brands and multiple businesses.

Properly managed, mergers and acquisitions will become an important impetus for women's wear listed companies to jump over the strong, otherwise, more "buy and sell" may become.

The scale of enterprises and market value is a stumbling block to the next level.