Is There A Connection Between The Three-Year Losing La Charbell And The Continued Turmoil At The Top

? ? ? ? On May 27, La charbelle issued a notice on the resignation of the chairman and independent directors. Wu Jin applied to resign from the posts of director and chairman of the Fourth Board of directors (acting as secretary of the board of directors), legal representative and special committee of the board of directors for personal reasons; Huang Siying applied to resign from the position of independent director and special committee of the Fourth Board of directors for personal reasons.

? ? ? The above resignation report will take effect after the company completes the by election of directors and independent directors, thus eliminating the above situation. After the resignation takes effect, Wu Jin should hold other non senior management positions of the company, and Huang Siying will no longer hold any position in the company.

? ? ? It is reported that this is the third chairman of La chapel to resign this year. On January 4 this year, Duan Xuefeng resigned from the post of chairman, legal representative and special committee of the board of directors, and then Zhang Ying, President of the company, took the post of chairman. However, on February 23, Zhang Ying resigned as the chairman of the board because of the adjustment of work arrangement, and Wu Jin should take over.

Yingshang.com found that the three people had not been in the chairman for a long time -- Duan Xuefeng served for about eight months, Zhang Ying had less than two months, and Wu Jinying had just completed three months. Duan Xuefeng, the chairman of Xing Jiaxing, who was elected in May last year, was elected. However, in December, Xing Jiaxing proposed to remove Duan Xuefeng from the post of director (Chairman) for "three crimes", which caused heated discussion.

As for the resignation of the chairman of the company again, many people speculate that lashabel may usher in a great change in the senior management, because the board of directors of La charbell has agreed to nominate Zhang Xin and Zhao Jinwen as candidates for non independent directors of the Fourth Board of directors of the company, and Zhou Yuhua is the candidates for independent directors of the Fourth Board of directors of the company.

It is reported that Shanghai Qijin is the largest shareholder of La chapel. From March to April this year, Shanghai Qijin successfully won 45.2 million shares of La chapel A shares held by Shanghai Hexia with 91.772 million shares (accounting for 8.25%). So far, Wensheng assets and Shanghai Qijin, acting in concert, held 106.8 million shares of lashabel, accounting for 19.50% of the total share capital, becoming the largest shareholder of La chapel; The shares of Xing Jiaxing and Shanghai Hexia in La chapel dropped to 14.66%, becoming the second largest shareholder. Xing Jiaxing was no longer the actual controller of the company, and Shanghai Hexia was no longer a major shareholder of the company.

According to the international finance news, an investor told him that "Shanghai Wensheng and Shanghai Qijin will gradually control lashia, and the replacement is expected.

It is worth mentioning that in addition to the chairman of the board, the position of "President" of La chapel has also been changed frequently. In the past year or more, lashabel has changed five presidents, namely Xing Jiaxing, Yu Qiang, Yin Xinzai, Zhang Danling and Zhang Ying.

? ? ? The continuous turbulence of the top management of La chapel is closely related to its poor performance. La chapel has been losing money for three years. From 2018 to 2019, it lost 160 million yuan, 2166 million yuan and 1.841 billion yuan respectively. In Q1 this year, it lost another 70.16 million yuan. Many people believe that the current predicament of La charbelle is caused by its rapid expansion in the early stage. In the past eight years, La charbell has expanded the number of stores by five times, but the growth of store size has not promoted the growth of performance, and the huge store scale has become its heavy burden.

In 2018, La chapel recorded the first loss after listing, and began to shrink the size of its stores the next year. In 2019 and 2020, 4391 and 3919 stores were closed respectively. By the end of 2020, there were only 959 stores left in China, while at the end of 2018, the number of direct stores of La chapel was 9269. In other words, over 90% of its stores were closed in just two years.

In fact, in addition to closing stores in a large scale, rachabel also adopted other ways to save itself, including introducing new investors and striving for external financing, adjusting online business model, etc. In addition, La chapel has twice announced the change of its name from "Shanghai La chapel Clothing Co., Ltd." to "Xinjiang La chapel Clothing Co., Ltd." and plans to change its name to "Yixin Group Co., Ltd." again, so as to carry out online authorization business. However, at the end of April this year, La chapel announced that it would give up the plan of changing its name for the second time, and would continue to use "Xinjiang lashabel Clothing Co., Ltd." as its name.