La Natsu Bell Encountered Difficulties, Children'S Clothing "Unique Show", An Increase Of Nearly 80% Over The Same Period

In recent years, the negative information about La Natsu Bell has been constantly increasing. In 2018, the company achieved operating income of 10 billion 176 million yuan, down 2.58% compared to the same period last year, operating profit -1.52 billion yuan, a decrease of 120.57% compared with the same period last year; net profit attributable to shareholders of listed companies was -1.6 billion, down 132% compared with the same period last year; net profit after deducting non recurring gains and losses was -2.45 billion yuan, down 164.43% from the same period last year.

The first quarter of 2019 showed that the net profit of La Natsu Bell reporting period was only 9 million 751 thousand yuan, down 94.4% compared with the same period last year.

In the first quarter of 2018 and the first quarter of 2019, La Natsu Bell's performance was not optimistic. The five core brands had only one income growth, the company's further restructuring, the closure of 1600 stores, and the sale of electricity supplier assets.

La Natsu Bell's net profit fell for three consecutive years, and it was also the first time that the company had run a deficit.

In the second years after the listing of Hong Kong stocks, 2015, the company's net profit reached a peak of 615 million yuan, and then declined all the way. In 2016 and 2017, it was 532 million yuan and 499 million yuan respectively.

Statistics show that La Natsu Bell is the first A+H clothing listed company in China and the parent company of LaChapelle, Puella, Candie's and other well-known women's clothing brands in China.

In October 2014, the company listed on the main board of the Hongkong stock exchange and listed on the main board of the Shanghai Stock Exchange in September 2017.

Private brand is not powerful.

La Natsu Bell has twenty brands, but the internal product homogenization is serious, and the distinction is not obvious.

From the point of view of revenue structure, in the first quarter of 2019, there was only one brand income growth of the five largest women's wear brands in the company. Among them, two brands of LaChapelle and Puella were mainly due to the large number of counters and the decline of department stores. Sales revenue decreased by 11.94% and 13.35% respectively, while sales income of LaBabit and 7m decreased by 1.26% and 0.68% compared to the same period last year. The income of Candie's increased by 23.04%, and the revenue contribution increased from 6.40% to 8.08%.

Buying brands is not good.

In 2015, La Natsu Bell spent 200 million yuan holding Hangzhou dim sum, trying to help the group brand develop the electricity supplier business with the latter's online operation ability. The two sides later signed a generation operation agreement, but in 2018, the two sides terminated the agreement.

Data show that: La Natsu Bell's online income in 2018 was 1 billion 437 million 600 thousand yuan, a slight increase of 0.83% over the same period last year, accounting for 14.1% of the group's revenue.

At the end of 6 last year, the company invested 20 million 900 thousand euros to complete the acquisition of France's Naf Naf SAS40% equity.

However, due to the company's operating losses during the reporting period, the company lost about 7 million 30 thousand yuan in investment.

At present, the company is still pushing forward the delivery of its remaining 60% stake.

In addition, due to the stock market decline at the end of last year, the fair value of some new shares of Tianjin Xing Kuang investment dropped significantly. Two factors led to La Natsu Bell's investment income dropped by about 51 million 660 thousand yuan last year.

Children's clothing brand has a bright future, but it accounts for a small proportion.

It is worth mentioning that La Natsu Bell launched a brand new children's clothing 8EM, one to undertake the original dress brand La Chapelle kids, Puellakids and other parent-child business, and the two take full advantage of R & D and supply chain resource sharing, fully display the personalization, fashion and cost-effective.

In 2018, 8EM realized operating income of 205 million yuan, an increase of 79.84% over the same period last year.

As of December 31, 2018, there were 274 stores in 8EM, a net increase of 72 compared to the end of 2017.

The future will be the new profit growth point that La Natsu Bell is trying to cultivate.

The operating income of women's wear line is still the main source of income, accounting for 81.05%.

From the scale of opening stores, 8EM274 stores account for less than 4% of La Natsu Bell's 7653 stores.

Although children's clothing business continues to grow, but because of its relatively small scale, for the increasingly loss of La Natsu Bell, it is only a drop in the bucket, is not enough to make up for the core women's clothing sales decline.

Revenue growth benefits from the expansion of stores, in general, La Natsu Bell slashed the store, and the number of 8EM stores is not dominant, so whether La Natsu Bell will overweight children's clothing next day, whether it has the ability to overweight children's clothing is unknown.

But through La Natsu Bell's adjustment of children's clothing and men's clothing business, later La Natsu Bell should improve the importance of children's clothing.

La Natsu Bell, the person in charge, said in 2014 that the next ten years will be the ten year of the traditional enterprise's electronic business. La Natsu Bell will expand the operation through the double layout of the online and offline businesses in the future.

Now there are bottlenecks on both the online and offline levels, but many years ago, visionary companies should make the right judgement.