IPO Market Has Never Had Any Excitement.

In 2015, the IPO market had never had any excitement.

Starting from the successful launch of the early song, the Chinese capital market has been boiling. Now, "broadcast: broadcast", "DAZZLE (earth element)" and "La Chapelle (La Natsu Bell)", many of these women's familiar brands of women's clothing have entered the pre disclosure process.

In addition, Taiping bird, an Zheng, Mass Phil, Xin He, Bi Yin Le Feng and other brands are queuing up in front of IPO.

With the listed listings, Vigna S and so on, several well-known companies in the domestic garment industry are expected to gather in the capital market.

In recent years, La Natsu Bell has performed well in his performance.

According to relevant data, La Natsu Bell realized operating income of 7 billion 814 million yuan in 2014 and net profit of 500 million yuan, up 25.5% and 23.6%, respectively, and the gross profit margin of the company continued to be over 68% for three consecutive years.

In addition, La Natsu Bell's net profit growth rate should not be underestimated. In 2011, La Natsu Bell's net profit was only 123 million yuan, increased to 260 million yuan in 2012, jumped to 413 million yuan in 2013, and the annual compound growth rate was 83.3%.

However, even if the growth rate of revenue and net profit is obvious, La Natsu Bell's gross margin is always at a lower level than its competitors, and is lower than the average value of the industry.

It is understood that the growth of La Natsu Bell's shop is also considerable.

Data show that by the end of 2011, the number of La Natsu Bell retail outlets was 1841; by the first half of 2014, this number had increased to 5671.

As of the first half of this year, the total number of retail outlets in La Natsu Bell increased to 7147, an increase of 26% compared with 5671 in the first half of 2014.

In fact, relying on a single brand has also become a constraint on La Natsu Bell's profitability. The La Chapelle brand has brought a lot of money to La Natsu Bell, but it is also facing enormous pressure to rely heavily on the brand.

The daily fashion of the main broadcast: brand is weaker than the two companies in terms of scale and profit margin.

According to the disclosure, the daily fashion fashion realized 911 million yuan in 2014, the net profit was 82 million 473 thousand and 400 yuan, and the gross profit margin was 58.84% lower than the comparable company average level.

What is interesting is that in pre disclosure, the daily fashion is listed as the main competitor of Di Su, Jiangnan Buyi, MO&CO. and so on. However, the competitors disclosed by Di Su have no daily fashion.

Broadcast: the origin of sowing is earlier than that of the other two garment companies.

Broadcast: broadcast was first founded in Guangzhou, China. In 1995, Wang Weidong opened the first clothing store in Luoyang.

In 1997, the studio design studio was established in Guangzhou and has now covered 25 provinces in the country.

In terms of gross margin, earth element is significantly higher than the average level in the industry.

Taking the first quarter of this year as an example, the total gross profit margin of the company is 73.3%, while the average gross profit margin is 65.32%.

According to the stylish prospectus, at present, the "DAZZLE", "DIAMOND DAZZLE" and "d'zzit" three core brands have been formed. The product is located in the female consumer group with the strongest clothing consumption ability at the age of 18~45, covering the high-end, high-end and middle end brand women's clothing market, forming a multi-dimensional and deep penetration of the women's wear market.

DAZZLE is the most important brand in today's fashion, accounting for more than 6 of the company's main business revenue.

From 2012 to 2014, the annual compound sales growth rate was 29.62%.

At the same time, the DIAMOND DAZZLE brand for high-end women's clothing market, because of the higher price, from 2012 to 2014, sales revenue compound annual growth rate is 14.29%.

And the d'zzit brand with lower price and a focus on the middle end women's clothing market has a compound annual growth rate of 115.7% in the reporting period.

It can be seen that the d'zzit brand with the lowest price in the fashion industry is growing most rapidly, compared with the development of the high-end brand DIAMOND DAZZLE.