Zhou Jianping, Chairman Of Hai Lan'S Home: The Scale Of Revenue Does Not Exceed That Of Hai Lan.

In apparel industry, high inventory is often the most difficult problem of brand.

According to the fashion business bulletin, on the morning of April 19th, Hai Lan's home held the annual shareholders' meeting. The five directors, including Zhou Jianping, Xu Qinghua, and so on, attended the meeting. The chief financial officer and the general manager were both absent from the business trip, but the venue was full of waves. In the face of many small shareholders' doubts about the high inventory of the company, Zhou Jianping said that the scale of revenue did not exceed that of Hai Lan, and it was not worth questioning Hai Lan.

Another investor questioned the design ability of Hai Lan. Zhou Jianping criticized the investor with "unquestioning questions." if you are strong enough, you are the chairman of the board.

The scene was quite awkward.

It is noteworthy that Forbes announced the list of Chinese rich list in 2017. In that year, 486 Chinese rich people came on the list, accounting for 23.8% of the total number of the world's wealthiest people. Specifically, in the field of clothing retailing, Zhou Jianping became the richest person in the industry with 3 billion 600 million dollars in assets.

According to the latest data, from 2014 to 2018, the net profit of Hai Lan's home was 2 billion 374 million yuan, 2 billion 953 million yuan, 3 billion 123 million yuan, 3 billion 328 million yuan and 3 billion 450 million yuan respectively, and the net profit growth rates were 75.83%, 24.5%, 5.74%, 6.5% and 3.78% respectively.

Obviously, the accumulation of stock is a major cause of the criticism of the home of the sea.

According to the latest performance report of Hai Lan home in 2018, its annual operating income reached 19 billion 90 million yuan, an increase of 4.89% over the same period, an increase of 4.89% over the same period last year, and a net profit of 3 billion 455 million yuan to the parent company, an increase of 3.78% over the same period last year. Net profit after deducting the net profit was 3 billion 268 million yuan, down 0.63% from the same period last year.

For the serious reasons for inventory, there are market participants who believe that the operation of Hai Lan's home is a light asset mode, that is, outsourcing the production process and increasing the number of stores to join. Franchisees are only responsible for paying the related operating expenses.

While Hai Lan's home is focusing on brand building and channel operation, franchisees do not have to participate in the specific operation of franchised stores.

This means that the three parties are separated from each other and can not achieve unified results in terms of market demand, goods management and sales data. Inventory accumulation has become a common phenomenon over time.

It was also the stock pressure that had worn down the American Apparel. This very fashionable clothing company was forced to close nearly 800 stores in 2014 due to inventory pressure. It only announced the new brand image in the United States and the 600% net profit growth in the first half of 2011. The inventory at the end of the first quarter was more than 3 billion yuan, which was 600 million higher than that at the end of 2010.

In 2017, Hai Lan's home stock reached 8 billion 492 million yuan, 10 times the number of seven wolves.

At the end of 2018, Hai Lan's home stock was 9 billion 473 million yuan, an increase of 11.55%, and the stock turnover period was 286 days.

Therefore, there is a view that the selection of Hai Lan's home at this time will help to digest part of the stock pressure.

At present, there are 8 brands of Hai Lan's family: Hai Lan home, San keno, AI Ju rabbit, black whale, OVV, AEX, Hai Lan optimization living hall and boys and girls.

Among them, the black whale, OVV and AEX were founded in 2017, which are sports brand, women's wear brand and men's wear brand. Boys and girls are Hai Lan's family's brand of children's clothing holdings in 2018.

The light asset mode also led to the original design capability of Hai Lan home not strong.

According to the company's earnings report, in 2018, the company's R & D investment was only 49 million, accounting for 0.26% of its operating revenue and about 0.16% in 2017.

Since 2016, Hai Lan home has begun to implement a series of complex brand younger pformation plans, including the sponsorship of network technology to achieve its image of younger pformation, the fast fashion brand UR, hired actor Lin update as brand spokesperson, and designer Xander Zhou launched a joint series.

Although Hai Lan's home is collaborate with designer brand Xander Zhou to enhance its brand image.

However, in the increasingly fierce competition in the clothing market, the original ability of the brand itself will be one of the core competitiveness of the brand. A group of domestic brands after pformation have also set up a new design team to focus on improving their innovative capabilities. Therefore, ignoring the product design will not be conducive to meeting the needs of the current consumption upgrading and brand upgrading.

Some analysts pointed out that the risk of problems will be greatly improved on the more rapid runway.

For Hai Lan's home, it is equally important to take early notice of the blemish behind prosperity.

China's garment industry will still face the environmental impact of slowing consumption, and the multidimensional competition pressure from fast fashion, e-commerce and new consumption channels still exists.

In order to compete for the young market, Hai Lan's home in August 2017 was 100 million of the domestic fast fashion UR.

As of today's closing, 600398.SH shares fell 0.84% to 9.41 yuan per share and market capitalization of about 42 billion 200 million yuan, the third largest listed apparel group after Shenzhou International and Anta. Last year, it became the first A group to be included in the MSCI index system.

Author: Chen Shu