What'S Wrong With City Beauty Changing Its Spokesperson And CEO?

2019 is probably the "Waterloo" of the underwear industry. The "secret of Vitoria", which was gathered by world-class beauties, cancelled the fashion show this year because of the income problem. After that, there were urban beauties who once stood in China's underwear King (the demand area is 60-300 square meters, 143 shopping centers have been stationed, and 400 plans are planned for this year). The founder Zheng Yaonan resigned, and even the "Lady goddess" Lin Chiling had been replaced.

On the closing of September 10, 2019, urban beauty reported HK $1.320 / share, less than 3 billion of the market value, and 60% in a year. If compared with the highest stock price in July 2015 (HK $9.122 / share), the market value of urban beauty has evaporated 15 billion in four years.

In mid afternoon August 29th, the urban beauty released its interim results in 2019. The company achieved 2 billion 210 million yuan in the first half of the year, down 5.5% compared to the same period last year, and the operating profit was 43 million 5 thousand yuan, down 81.6% compared with the same period last year.

In those days, with the devil's figure of Lin Chiling, Zheng Yaonan captured the hearts of thousands of Chinese women with a "Lady goddess". Today, it is only 5 years since the city's beautiful people went to Hong Kong to become the "first strand of underwear in the mainland". Less than 2 years later, it was less than 2 years after the "city beauty Lin Chiling joint underwear Lady Goddess series" started in Guangzhou.

How did Zheng Yaonan, 44 years old, live in this ups and downs of life?

　 "Secure" Lin Chiling's security?

In 1995, Zheng Yaonan, a 20 year old boy from Fujian, took 500 yuan and left Gutian's hometown to apply for a job in WAL-MART, WAL-MART. Zheng Yaonan was very excited. He only became an honorable security guard and kept at the gate of WAL-MART, earning 1000 yuan a month.

Even Zheng Yaonan, who was born to see the gate, was born to be the best security guard. He was as relaxed as the PLA who guarded the national border. In less than half a month, Zheng Yaonan remembered all the faces and names of the visitors, so he could say hello directly. Zheng Yaonan, who is conscientious and conscientious, was immediately promoted. He was transferred from the gate to the store to be a security guard.

This "tune" not only adjusted Zheng Yaonan's salary, but also adjusted Zheng Yaonan's whole life trajectory.

Years later, when he recalled the days when he was a security guard at WAL-MART store, Zheng Yaonan told the secret. It turns out that this small security guard watches every consumer at the same time, not only does he pay attention to the occurrence of theft and other behaviors, but also watches and studies consumer habits and salesmen's marketing skills all the time.

Gradually, he began to wonder, how did supermarkets manage commodities? How do enterprises manage and manage?

Thirst for knowledge sprouted from Zheng Yaonan's heart and grew green and luxuriant. So they paid wages, bought cigarettes, bought wine and bought meat, and Zheng Yaonan paid all his wages to buy books. He studied psychology and marketing after his working hours.

Zheng Yaonan became an ideal and ambitious security guard.

When Zheng Yaonan was applying for a shopping guide at the cosmetics counter in the supermarket, he went to apply for a job. It was the first time he knew that 1 bottles of small cosmetics could sell 300 yuan. Zheng Yaonan's heart was greatly impacted and determined to enter the sales line. He did not disappoint himself. He was promoted to be the head of sales department because of his outstanding ability.

2 years later, Zheng Yaonan no longer satisfied with the identity of the supermarket sales director, resolutely resigned, rented a 12 square meters of small shops. He took the "skill" in WAL-MART, and brought the great impact of the original cosmetics on him. He spent 20 thousand yuan saved and saved up and started selling cosmetics himself. 1 years later, Zheng Yaonan's cosmetics store opened tenth stores, making him the first 1 million of his life.

With the return of Hong Kong and Macao, the reform and opening up has been blowing everywhere in Shenzhen, the market is becoming more and more prosperous, opportunities and choices are increasing, and people's hearts are becoming more impetuous. The small security guards attacked the big boss. Zheng Yaonan, who started from scratch, "young and promising" and "returning home", became more and more proud. His ambition grew more and more. He began to invest in various fields. Besides cosmetics, he also joined bookstores, stationery shops, restaurants, etc.

However, instead of focusing on cosmetics, Zheng Yaonan, who was busy investing in the industry, made less money, and soon consumed the money he made from the cosmetics shop.

Zheng Yaonan, who fell into the bottom for the first time, was in a hurry. He ran around, hoping to find a chance. One day in 1998, when he passed by the east gate of Shenzhen, he found a small stall surrounded by a group of women and went over to see it. Looking at the women who buy crazily and the vendors who receive the soft hands, Zheng Yaonan's great curiosity is pounding. He adds up: "really busy! How much revenue can you get in such a good business? "

The peddler happily waved his hand: "not too much, one day can earn more than 1000."

Zheng Yaonan was surprised to be able to keep his mouth shut. In Shenzhen in 1998, a roadside booth without formal appearance, a pedlar without diploma and diploma, and a pile of women's underwear with a price less than 10 yuan could earn 1000 yuan a day.

This shock is even more intense than the first time he learned that 1 bottles of cosmetics would sell for 300 yuan. Zheng Yaonan decided to make an investigation in the underwear market, and he saw business opportunities.

20 years ago, the domestic underwear market was extremely differentiated. One of them was low street or unlicensed underwear sold by street stalls and small shops. The price was low and the quality was difficult to guarantee. The other one was the high-end brand underwear that was sold in the shopping mall. Although the quality was good, the price was prohibitive for most people. The high quality underwear brand needed by the general public is urgently needed by the market.

Do what you say. In 1998, Zheng Yaonan set up the "city beauty style underwear company" and renamed it "urban beauty", aiming at the middle end market, and launched underwear selling people with good quality and excellent quality.

But just by opening a shop, no big company can be a small sales force. From selling to making a brand, from being buried in work to learning to play a role, from small boss to entrepreneur, how many roads must Zheng Yaonan go through?

Zheng Yaonan's success is inseparable from his study and creativity. From the time when the security guard paid 1000 yuan monthly salary, Zheng Yaonan kept the habit of reading at least 40 books a year, at least 1 books a month, and writing a diary every night. He keeps learning and enriches his knowledge. He always brings a book with him. When he chatted with people, he found some useful ideas to write down. He can't imagine anyone who has talked with him. Zheng Yaonan only graduated from technical secondary school.

In the early days of his career, Zheng Yaonan resolutely decided to create a one-stop shopping model for underwear sales. He sold all kinds of items related to personal clothing to the same store. That is, urban beauty sells underwear, socks, pajamas, home clothes and other products in addition to underwear.

In addition, Zheng Yaonan also suddenly thought, chose the "centralized" sales method. He opened a number of stores in the same street. For a time, the beauty of the city was everywhere. Zheng Yaonan's brand soon attracted the attention of consumers.

With the advantage of cost performance and franchised store mode, the urban beauty quickly turns into a group of users with real needs, and expands rapidly in the 234 tier cities. In particular, with the outbreak of SARS in 2003 and the global financial crisis in 2009, urban beauty bought stores and factories in a time of nationwide economic downturn and quickly surpassed competitors.

In 2012, Zheng Yaonan spent a lot of money to succeed in taking the national goddess Lin Chiling, a man and a woman, to be his brand spokesperson. On the top of Zhi Ling's sister's sexy aura, the urban beauty is singing triumphantly. 2 years later, Zheng Yaonan went to Hong Kong to be listed. The city beauty became "China underwear first stock", surpassing Ann Li Fang as China's largest underwear retailer. In 2014, the company had 7026 stores, 6049 of which were franchises. Revenue of 5 billion yuan, net profit of 540 million yuan, and market value of 18 billion.

In 2015, the man who made a famous name of underwear was founded by a woman who became famous. He boarded the Hurun rich list and was worth 8 billion 500 million.

　　 City beauty Waterloo?

5 years ago, no one would have expected that the beauty of the city who went all over the streets and Chinese women would be forgotten one day.

"I can hardly remember the beauty of the city." The voice of the market makes people hear some compassion.

In fact, the crisis of urban beauty has already appeared in Zheng Yaonan's aggressive expansion. In 2015, there were more than 8000 stores under the city beauty line. However, the red wine cup was not yet stable. In 2016, the sales revenue of urban beauty dropped by 9%, and net profit was cut to 240 million yuan. The average stock turnover period increased from 92 days in 2015 to 142 days, and the stock volume was nearly 1 billion 200 million yuan, accounting for 30% of total assets.

What can I do if I can't sell it? Urban beauty was forced to discount sales, close the loss stores, increase direct stores and shopping center stores, and introduce Fosun, Jingdong, Tencent and other strategic partners to increase online sales efforts.

City beauty's offline stores generally collapse like Domino dominoes. Every time, every street and lane, the pink brand of urban beauty suddenly drops. However, Zheng Yaonan is not willing to wake up in the dream of "China underwear first". He insists that his product is a national champion. The decline of performance is only influenced by the trend of online shopping, and it is good to respond to the trend.

In 2018, the performance of urban beauty who vigorously moved to online business improved. Revenue grew 12% to 5 billion 100 million yuan, and net profit increased 19% to 378 million yuan. But the company's gross profit margin also dropped from 44.4% in 2016 to 41.7% in 2018, and accounts receivable increased from 450 million yuan in 2016 to 830 million yuan in 2018.

1 years later, the beauty of the city collapsed again.

Through brand comparison and market analysis, AI asked that the urban beauty who had the main price and quality was no longer "cheap and fine". In the competitive track of underwear, the quality of urban beauty was surpassed by the special quality brand underwear such as Ting Mei and UNIQLO. In terms of price, it was run by the original lingerie official shop that was launched by 6ixty 8ight and Taobao, Jingdong and other online shopping platforms.

Market competition is merciless. If one is not careful, it will be eliminated by the times. Standing at the edge of the market, Zheng Yaonan must make a choice for urban beauties: Price Marketing? Or is it embracing the upgrading and upgrading of the whole industry?

For this, insiders analysis said: "consumers in the change, in addition to cost performance, more is the demand for function and fashion, so the city beauty brand bargaining space is very small."

Zheng Yaonan "fried" Lin Chiling, who married a woman and lost popularity. In June 21, 2019, he invited the "95 daughters" after the high price of "national girl". Guan Xiaotong spoke for the beauty of the city. Then in August 19, 2019, Zheng Yaonan fired himself and hired Xiao Jiale, senior vice president of Adidas Greater China business, as chief executive of city beauty.

Changing spokesmen, changing presidents, making high-end underwear with more sense of design, and increasing market publicity. Today, Zheng Yaonan, who has already experienced ups and downs and nearly half a year's worth of fire, is once more fired up. This time, can he win the hearts of women all over the country?