Geersi Spent Millions Of Repurchase Shares, Multi Brand Synergy Helped 2018 Revenue Or Over 2 Billion 500 Million!

The local high-end women's clothing brand, Shenzhen's Limited by Share Ltd, announced in January 19th that the company intends to repurchase 172 thousand and 300 shares of the company with 1 million 960 thousand and 200 yuan.

According to the announcement, the price of repurchase is 11.38 yuan, and the amount of repurchase is 1 million 960 thousand and 200 yuan, and the amount of repurchase is 172 thousand and 300 shares, accounting for 0.05% of the total share capital of the company.

From the perspective of the company's share capital, the total share capital of the 172 thousand and 300 shares that will be repurchased will be reduced compared with the existing share capital of 337 million shares.

From the stock price, the latest closing price of GOR is 15.52 yuan (in January 18, 2019), and the repurchase price is 11.38 yuan, which is -26.68% above the latest closing price.

The company's share price rose 2.37% in the past three months.

From the perspective of the history of repurchase, since its listing in April 22, 2015, it has repurchased 3 times, and the total number of repurchases totaled 10 million 62 thousand and 800 shares.

The premium of the repurchase price and the closing price of the announcement day is between -48.07% and 22.81%.

Analysts believe that in September 11, 2018, the company released a repurchase plan in September 11, 2018, and intends to repurchase its shares with free funds. The total amount is 50 million -2 billion yuan, and the price is not more than $21 / share.

By the end of December 3, 2018, he had repurchased 1 million 129 thousand and 900 shares with a total of 18 million 210 thousand yuan, with an average price of 16.12 yuan.

Several recent repurchases have highlighted the company's confidence in its future development and highly recognized its own value.

Public information shows that in 1996, Shenzhen founded in 1996, and became the first woman clothing listed company in Shanghai motherboard.

It owns six brands including ELLASSAY's main brand, and establishes a multi brand segmentation consumer market collaborative development mode.

With the continuous improvement of the company's products, influence and supply chain, the company's revenue in 2017 was 2 billion 53 million, an increase of 81.35% over the same period last year. Net profit attributable to the owners of the parent company was 302 million yuan, up 61.86% from the same period last year.

In the first three quarters of 2018, the company achieved an operating income of 1 billion 736 million yuan, an increase of 25.87% over the same period last year. The net profit attributable to the parent company was 268 million yuan, an increase of 32.65% over the same period last year, and its revenues and profits continued to maintain high growth.

Guotai Junan Securities analyst Hao Shuai said, driven by the new brand, the overall clothing business of the company has maintained a high growth rate, breaking through the bottleneck of nearly 5 years of development.

From the point of view, the rapid development of the performance of the company has, on the one hand, been derived from the acquisition of brands and the expansion of its revenue scale.

In the 2015-2017 years, the growth rate of average growth rate was 12.58%.

The company's performance is steady, and endogenous growth and extension expand together. The cultivation of new brands began to bear fruit in 2017. In 2017, endogenous growth increased further, reaching 28%.

At present, the new brand is still in a period of rapid development. With the further development of channels and marketing activities, the proportion of new brand revenue will further increase.

From the perspective of brand performance, the main brand of the song is aimed at the high-end women's clothing market, and its development over the past 20 years has gradually matured.

The main brand ELLASSAY positioning high-end women's clothing market, after many years of development, brand has stable customer groups, market visibility is high, development is gradually stable.

In order to find new growth points, the company began to adopt multi brand strategy in 2014, constantly introducing new brands and reducing dependence on the main brands.

The rapid growth of sub brands has injected new impetus to the development of the song, especially its brand market.

In 2017, IRO accounted for 19% of the revenue, and EdHardy accounted for 21% of the revenue, which achieved 79% growth in the whole year. Laurel also recorded an increase of 230%.

Driven by the new brand, the overall garment business of the company has achieved a high growth rate of 76%, breaking through the growth ceiling of nearly 5 years.

Since 2018, the income of the two sub brands of IRO and EdHardy has exceeded that of the main brand ELLESSAY, and the proportion of income has increased continuously.

In the first three quarters of 2018, EdHardy's total revenue reached 379 million. Under the high base sales volume, the brand continued to maintain double-digit growth, becoming a new performance engine of grace.

In Hao Shuai's view, at present, the company has acquired 4 brands: Laurel, EdHardy, IRO and VIVIENNETAM. In August 2018, it joined the Belgian brand Jean-PaulKnott, and gradually formed a brand matrix with wide coverage, solid structure and complementary location. In the future, new brands are expected to join.

The company carries out a series of brand mergers and acquisitions, in order to seek new growth in the new market, at the same time, strengthen the synergy effect of new brand and existing brand, resist the risk of market change, and play a "1+1>2" effect on the development of the company.

In the past 2013-2015 years, the company has only its own brand ELLASSAY, and its business revenue growth has remained steady, with an average growth rate of 11.86% over the past three years.

After 2015, the company started the M & a process, and the overall revenue growth rate increased significantly, reaching the peak of 81.35% in recent years compared with 2017.

With the addition of more new brands, the contribution of sub brands to the company's business revenue increased. In the three quarter of 2018, sub brand income accounted for 50.39%, exceeding the main brand EELLASSAY.

Hao Shuai believes that since opening the road of mergers and acquisitions, the company has stepped into the development of new lanes, rapidly increasing its revenue, expanding its sales scale and improving its market influence.

The company has proven its operational capability through multiple brand practices, which can turn the brand into a profit and quickly integrate into the Chinese market.

In the next stage, the new brand of the company will gradually pass the incubation period, and will enter the right track of development and become a new stable profit growth point with strong potential for development.

The multi brand operation mode built by the company's extension and merger will further speed up its performance through brand scale and internal synergy.

In the next two years, the growth of the company will mainly benefit from the rapid growth of brand revenue under the multi brand synergy.

With the channel penetration and the same store revenue increase, the main brand will continue to maintain steady growth. At the same time, the company will speed up the layout of the sub brands and enter the stage of rapid growth in the future. From the perspective of profitability, the interest rate is higher than that of the women's clothing industry in the high-end high-end women's wear market.

Hao Shuai predicted that the revenue of 2018-2020 years will reach 2 billion 579 million yuan, 3 billion 94 million yuan and 3 billion 576 million yuan respectively, representing an increase of 25.62%, 19.97% and 15.58% respectively. The net profit attributable to the parent company reached 375 million yuan, 449 million yuan and 540 million yuan respectively, representing an increase of 24.04%, 24.04% and 24.04% respectively.