Countdown To The Listing, Jordan Sports Can Cross The "Shanzhai" Threshold?

Seven years long run

In April 9th, the Beijing Commercial Daily reporter visited the website of the China Securities Regulatory Commission to inquire. As of April 4, 2019, the China Securities Regulatory Commission accepted the first and 278 depository receipts enterprises, of which 15 had passed. Jordan sports, as a manufacturing enterprise, was also on the list of the meeting and intends to go on the land exchange listing.

It is noteworthy that this is not the first time Jordan sports has been there.

At the end of November 2011, the China Securities Regulatory Commission passed the first application submitted by Jordan sports.

At that time, the industry once thought that Jordan sports is likely to beat Anta and Lining, becoming China's first sporting goods company to enter the domestic A share market.

However, on the eve of listing, Jordan sports was terminated by a petition by Michael Jordan.

In 2016, Jordan sports once again longed for listing, but it has been in a queue that has not yet been properly awaiting trial.

To this day, Jordan sports finally passed the meeting again.

"This may usher in a new hope for Jordan sports development, and is expected to break through the current development bottleneck.

However, after the meeting is not equivalent to listing, the existence of variables Jordan sports must also have a deep understanding.

Insiders said.

According to the listing process of the China Securities Regulatory Commission, Jordan sports is also facing multiple tests.

First of all, the issuer's first application should be disclosed by the trial committee before the publication of the prospectus, which may affect the issuance and listing of the prospectus and have a significant impact on investors' investment decisions.

In addition, if the audits are required to be re examined, the issuer shall perform the internal work procedures in accordance with the relevant provisions of the post event matters.

Before the approval is issued, the issuer and the sponsor shall also issue the underwriting plan with the times.

After sealing the book and carrying out the internal procedures, the approval work will be issued.

After the issuer receives the approved issuance approval, he or she does not pay attention to the items after the meeting or has completed the proceedings after the completion of the meeting, it may initiate the publication of the prospectus according to the relevant provisions.

After the completion of the audit process, the issuance supervision department shall draw up continuous supervision opinions according to the audit conditions, and inform the daily regulatory authorities in writing.

Disputes continue

According to China's "IPO listing management regulations", issuers must meet the requirements of "no significant debt repayment risk, no guarantee of continuous operation, litigation and arbitration and other major or contingencies".

"Obviously, Jordan sports has always been triggered by its trademark brand.

Disputes and other issues, it is difficult to list.

Insiders pointed out.

In fact, in order to keep the "Jordan QIAODAN" trademark, Jordan's sports "tortuing war" has been on the stage for many years.

In February 2012, Michael Jordan appealed to Jordan sports in the name of "disputed trademark registration to damage his right to name" and said, "the purpose of taking this action is to protect the right of name and brand that I have."

Shortly after Michael Jordan's first lawsuit failed, he appealed to the first intermediate people's Court of Beijing and the higher people's Court of Beijing, but failed.

In 2015, Michael Jordan applied again to the Supreme People's court for retrial.

In December 2016, the Supreme People's court ruled that the trademark "Jordan" was infringed and the trademark dispute ruling of the Trademark Review and Adjudication Board of the State Administration for Industry and commerce was revoked.

In the end, the lawsuit ended in Jordan sports losing.

However, in early 2018, Jordan sports appealed to Nike sports (China) Limited (hereinafter referred to as Nike sports) and Nike Commerce (China) Limited (hereinafter referred to as "Nike business") to infringe trademark rights and unfair competition disputes. Plaintiff Jordan sports asked the defendant to stop infringement, make public apologies, compensate plaintiff losses and make a reasonable expenditure of 300 thousand yuan.

Obviously, Jordan's sport has been a constant dispute over trademark infringement.

In the view of Cheng Weixiong, general manager of textile and clothing management expert and Shanghai Liang Qi Brand Management Co., Ltd., it is not the deadliest that the dispute of trademark intellectual property leads to postponing the listing. The biggest impact is definitely a blow to user experience and user loyalty. Jordan is a IP with his own traffic, but the two sides do not have a good settlement. After Jordan's infringement confirmation, Michael Jordan and Jordan need to distinguish between brand communication, product packaging and store image.

Breakthrough of "changing face"

But Jordan sports did not admit defeat.

In many disputes, Jordan sports once declared: "my company was legally established in 2000. After more than 10 years of development, it has become a famous sports brand enterprise in China."

It is reported that Jordan sports is mainly engaged in the design, R & D, production and sales of sports shoes, sportswear and sports accessories, and has become one of the rapidly rising sports brands in China by virtue of the "Jinjiang model".

Jordan sports grew up with Jinjiang sports brand, and Anta sports, XTEP sports, 31st degree, etc.

However, these brands have been renamed before seeking listing.

Among them, the "XTEP" known as "Sanxing" was known before. Lin Shui pan changed the "Jiuzhou Ben Ke" to "Xi Dalong". Ding Wu also renamed "Buick" to "31 degree"; and the predecessor of Jordan sports was "the two commodity factory in Jinjiang, Fujian."

Soon after the "renamed tide" came down, the tide of listing began again.

Jordan sports, which could be the first domestic sporting goods company to be listed successfully, has terminated the road of listing because of the infringing storm caused by renamed.

In the next few years, Anta sports, XTEP, 31st degree, PEAK sports, Xi Delong and Pathfinder have successively succeeded in IPO at home and abroad.

Many people in the industry believe that Jordan sports failed to go public, which means they missed the best opportunity for development.

But Cheng Weixiong believes that it is necessary to miss the best time to market from the listed capital premium, but from the growth of the enterprise itself, there is no distinction between early and late, and it is a good thing to be late.

Of course, the delay in listing has led Jordan to lag behind the local competitive brands in the pformation of brands, products, channels, organizations, operations, supply chains and technology.

In the recent visit of Beijing Commercial Daily reporter, Jordan sports has already changed the trademark to weaken the infringement problem.

Some of Jordan's sports shops have gradually reduced and weakened the word "Jordan sports". The LOGO of products has not only been "basketball players", but also changed to "TEAM", "SHOT" and "YOUTH".

Did these changes boost the Jordan sports meeting?

In this regard, the Beijing Commercial Daily reporter contacted Jordan sports related person responsible for the interview, but as of press time, the other side did not reply.

"Slow growth, in the right direction, still exists.

If Jordan sports can be listed successfully, it will become more pparent after that. How much financing is still helpful to Jordan, and whether Jordan can grow rapidly in the current market environment, there are still many variables.

Especially after the local brands reached the top of Anta, Lining returned and XTEP gradually felt, Jordan's 31st degree, PEAK, and noble birds actually became more and more embarrassed in the market competition.

In the future, Jordan sports needs active layout from brands, products, stores, and scenes to gain something.

Cheng Weixiong pointed out.