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Men'S Clothing Industry Staged Great Changes

2013/10/29 13:21:00 17

Men'S Clothing Enterprises Market Expectations Adjustment Period

domestic a href= "//www.sjfzxm.com/" > men's clothing enterprise < /a >, after experiencing an unhappy situation in 2012, the business situation continued to deteriorate in the first half of this year.

According to statistics, in the 13 men's clothing companies listed in the 4 men's listed companies, including YOUNGOR, Shanshan wolf, nine year herding, China's Lun Lang, the birds of fortune, the red beans, Hinur, the card slave Road, Dayang creation, Meyer, George White and Busen (ranked in the first half of the year), the total revenue declined in 2012, and the total net profit fell by 6. In the first half of 2013, the number of business income and net profit fell to 7 respectively. Moreover, 5 enterprises had a "double slide" in their revenues and net profits, which included the leading enterprises such as the nine herdmen and China lon Lang, which had been doing well before.

the overall growth rate of the industry has slowed down. Many leading enterprises' revenues and net profits have been plunged into a continuous negative growth "mire". High inventory prices continue to be plagued, the new shop speed has obviously slowed down, inefficient stores have been vigorously closed up for rectification, most companies are still exploring many brands, and short-term earnings are difficult to show or even drag down their performance.

as China's < a href= "//www.sjfzxm.com/" target= "_blank" > clothing < /a > the industry has the highest maturity, the largest number of listed companies, and the performance has always been relatively good. The domestic men's clothing industry represented by 13 listed companies is undergoing a great change under the new competition pattern.

In the first half of the year when the "P" worsening situation was spread to the leading brands, the revenue growth of the 13 companies decreased to 6.

Among them, YOUNGOR's revenue was 7 billion 989 million yuan, an increase of 47.20% over the same period last year, and the revenue of card slave road was 374 million yuan, an increase of 30.95% compared with the same period last year. The reported bird revenue was 1 billion 38 million yuan, up 13.29% over the same period last year.

in 2012, the enterprises whose revenues declined were YOUNGOR, Hong Kong stock, Dayang creation and Busen shares, which increased 3 to 7 in the first half.

China's revenue was 1 billion 93 million yuan, down -13.20% compared to the same period last year, and George's white camp received 295 million yuan, down by -8.16% compared with the same period last year. The revenue of Dayang's creation was 344 million yuan, down by -7.22% compared with the same period last year; the revenue of the wolf wolf was 1 billion 423 million yuan, down by -4.27% compared with the same period last year; the stock of Busen's stock was 275 million yuan, down by -3.57% compared with that of the previous year; the revenue of nine Mu Wang was 1 billion 163 million yuan, down by -2.29% compared with the same period last year;

net profit, only 13 enterprises grew by 4.

Meyer net profit was 18 million 910 thousand yuan, an increase of 96.94% over the same period; the net profit of red bean net profit was 21 million 200 thousand yuan, up by 16.90% compared with that of the previous year; the net profit of the card slave road was 86 million 600 thousand yuan, an increase of 12.59% compared with the same period last year; the net profit of YOUNGOR was 960 million yuan, up 8.81% from the same period last year;

net profit declined in 2012, including YOUNGOR, Hinur, Dayang, Busen, Hong Kong and Meyer, which increased by 1 to 7 in the first half, accounting for more than half (53.8%).

Among them, the net profit of Busen shares was 11 million 320 thousand yuan, down nearly 40% (-39.93%) compared with the same period last year, and net profit of 81 million 830 thousand yuan, down from the same period last year (-34.96%); net profit of 53 million 260 thousand yuan, down by -29.41% compared with the same period last year; the net profit of George was 38 million 870 thousand yuan, down by -19.08% compared with the same period last year; Jomoo's net profit was 290 million yuan, down by -14.03% compared with the same period last year; the net profit of China's net profit was 242 million yuan, down by -12.80% compared with the same period last year; the net profit of Dayang's creation was 23 million 960 thousand yuan, down by -11.14% compared with that of the previous year, and the revenue of the seven wolves was 1 billion 423 million yuan, down by -4.27% compared with the same period last year.

there are 5 enterprises whose revenues and net profits have declined, including nine Mu Wang, China ll, Dayang creation, Georges Bai and Busen.

especially noteworthy is that the deterioration of the business situation is particularly evident in the "three giants" of business entertainment, exceeding a href= "//www.sjfzxm.com/news/index_z.asp" > market expectations < /a >.

"Three giants" revenue declined, which did not appear in 2012.

In terms of net profit, in addition to the low single digit growth of the seven wolves, the decline of the nine herd kings and China's Li Lang exceeded 10%.

This is also the first "double slide" since its listing.

In 2012, seven wolves (19.05%) .

and 9 Mu Wang (15.20%) increased by more than 15% in revenue and 3.15% in China.

In terms of net profit, seven wolves (36.09%) and nine Mu Wang (29.07%) had high double-digit growth, and China's growth rate also increased slightly (0.6%).

leading companies are also not immune.

In 2012, the growth rate of reported birds rose by 11.13% compared with the same period last year, and the net profit increased by 29.68%.

And in the first half of this year, although revenue still has more than 10% growth, net profit fell by more than 30%.

comparing the data of the two periods, we can find that in the enterprises with declining revenue and net profit, in 2012, they were mainly exported to domestic brands, and those whose revenues were below 1 billion yuan. But in the first half of the year, a large decline in the leading brands spread to the scale of more than 2 billion yuan a year.

strong > high inventory is an important "devil" that engulf profits.

.

in the first half of the year, the total inventory of the 13 companies was as high as 10 billion 321 million yuan (YOUNGOR according to clothing inventory).

The stock of red bean stock is as high as 4 billion 296 million yuan, YOUNGOR stock is 1 billion 340 million yuan, Shanshan stock stock is 905 million yuan, the bird of good news is 866 million yuan, the stock of nine year old king is 588 million yuan, the wolf wolf stock is 461 million yuan, the beautiful and elegant stock is 418 million yuan, the nore stock is 376 million yuan, the card slave road stock is 297 million yuan, the Dayang inventories stock is 244 million yuan, the Busen stock stock is 203 million yuan, the Chinese stock inventory is 203 million yuan, George saves the goods by yuan.

can be used as a reference.

The ratio of total inventory to total assets is 11.36%, and the proportion of the birds is 20%, while the value of Lining (02331.HK), which is plagued by high storage, is only 13.45%.

a fact is that the men's clothing industry, which once had unlimited scenery, is going through the movement that is deeply troubled by the deterioration of management and the "footsteps" of the big leisure industry.

This is indeed a terrible trend.

extensive expansion "sequelae"

P has experienced extensive expansion in the first 10 years, and the large-scale adjustment of inefficient shops, continuous closes and new store expansion has slowed down obviously, and now it becomes another topic facing men's clothing enterprises.

2012, the seven wolves only increased 31 stores over the previous year, closing a number of blue label and children's wear shops, shifting their focus from opening new stores to upgrading, expanding and expanding the old stores.

In the first half of the year, it continued to close 152 stores, but maintained the number of terminal units at 462.

2012, there were 124 new stores, 3264 stores, and 19 outlets to 694 outlets.

In the first half of this year, it closed 59 terminals, including 42 outlets to 736 outlets, while the franchisees decreased by 101 compared with the beginning of the year.

By the end of 2011, its sales terminals had increased by 430 from the beginning of this year.

In 2012, P also slowed down the shop opening rate, integrated some low benefit shops, and LILANZ increased 195 stores, and renovated about 280 stores in the second half of the year.

This year, its rectification of shops is continuing, and the whole shop rectification plan is expected to be completed for about three and a half years until 2015.

in addition, in the first half of this year, cards, roads, birds and so on have also slowed down the pace of opening shops. Their new shops are much lower than previously expected, and new stores are mainly run directly.

in fact, in the past 10 years, a number of leading men's clothing enterprises have gone through the extensive expansion stage of fast horse race enclosure, like the big sports brands such as Lining, Anta and XTEP, as well as the two popular youth leisure brands, such as the United States and Semir.

At that time, the rapid growth of the extended shops contributed a lot to the rapid expansion of sales scale.

Take seven wolves as an example. In 2005, there were 960 franchised stores in the agent system, only 8 outlets, and the main business income was only 313 million yuan. At the end of 2012, the total number of shops increased to 4007 and revenue increased to 3 billion 477 million yuan.

Over the past 8 years, the number of stores has doubled 4.14 times, and revenue has increased 11.1 times.

but at present, with the further differentiation of the consumer market, the upgrading of market competition, the rapid growth of commercial property prices and the rapid increase in the cost of circulation links, the extension of "extension" has been under pressure.

Changing the way of growth and improving the profitability of terminal operation will become the key to the fine development of the future.

The "P" pformation must be accelerated.

For this reason, the seven wolves are unswervingly carrying out the strategy of "wholesale" to "retail", and nine Mu Wang has promoted the profitability of Direct stores and franchisees in recent years.

As a response to the impact of the electricity supplier, seven wolves, nine herding kings, good news birds, Dayang creation and other enterprises have also entered the line, and implemented the layout of the whole channel under the line.

Ouyang Xinzhou, an analyst at foresight Industry Research Institute, said that under the double pressure of terminal demand and sports brand "closing shop tide", men's clothing brands have begun to feel the importance of meticulous management of channels.

However, the direct investment system construction and meticulous management investment will be larger. In the short term, it may lead to a decline in performance, but it will be beneficial to the long-term development and upgrading of enterprises.

This is also the only way for domestic garment enterprises to pform.

multi brand management is another important breakthrough for enterprises to yearn for pformation and get rid of the bottleneck of old brand growth.

In fact, the market capacity of a single brand is limited.

Apart from the main brand, it is indeed a good choice to form a multi brand "camp" through the positioning of many new brands with different levels and complementarity, and to occupy a wider market and seek new profit growth points.

Among the 13 enterprises, there are 9 multi brand strategies, accounting for 69.23%.

But judging from the actual effect, most of the new brands of the enterprises are in the breeding stage. In the short run, it is inevitable that the losses will continue.

"P" Ouyang Xinzhou believes that the development of clothing brands in clothing enterprises is not only a number of forms such as self creation, acquisition and agency.

Self selection is most suitable when the main brand is more mature, the business growth is faster and the store efficiency is higher. The acquisition and agency brands tend to be more high-end, which can enhance the corporate image and integrate with the high-end brands.

"Domestic men's clothing enterprises often consider creating sub brands when the main brand is still in the development stage and performance bottlenecks are encountered, so it is more difficult to cultivate large scale and high investment at this time."

New Exploration and pformation will take some time.

In the next 3-5 years, the whole men's wear industry will represent a continuous a href= "//www.sjfzxm.com/news/index_f.asp" > adjustment period < /a > for the whole men's clothing industry. The next 13 years will take place.

The big change is just beginning.