A Brief Account Of The Announcement Or Delivery Of Chinese Funded Overseas M & A Cases

According to the world clothing and shoe net, recently, the listed companies

Announced the acquisition of its consortium from sun's company, Vivarte SAS from France fashion group.

Brand operator Naf Naf SAS.

The total price of the paction is 52 million euros, of which La Natsu Bell Jabi's 40% to 20 million 800 thousand euros, the consortium's Trendy Pioneer and the Oriental alliance each account for 30% shares, the consideration is 15 million 600 thousand euros each.

In the overseas M & a market, La Natsu Bell is still a new name.

First overseas acquisition after listing

Data show that the same name of La Natsu Bell group

La Natsu Bell was founded in 1998. In October 9, 2014, La Natsu Bell group's parent company, Shanghai La Natsu Bell dress Limited by Share Ltd, was listed on the main board of Hongkong stock exchange. In September 25, 2017, it was listed on the main board of Shanghai stock exchange and became the first A+H listed clothing company in China.

The acquisition is also the first overseas acquisition after La Natsu Bell's listing.

La Natsu Bell group is engaged in fashion design, brand promotion and sales of clothing products business, the main public leisure clothing for women.

The group is committed to providing the latest fashion garments with competitive prices through the existing 10 brands (La Chapelle, Puella, 7m, Candie, s, La Babit, JACK WALK, Pote, JACK, Candie, and), as well as all kinds of apparel products that are invested in branding (brands, products, products, and products.

At present, La Natsu Bell has 9448 sales outlets, all in China.

Therefore, the company's regional character is remarkable.

The acquisition will help to enhance its overall popularity and international influence.

In addition, by investing in international clothing brands, it will further enrich its brand portfolio and enhance the feasibility of Target Corp to expand the Chinese market.

In addition to the upsurge of consumption upgrading, La Natsu Bell's own business in recent years is also an important driving force for its urgent need to expand the market.

Since 2012, the growth of La Natsu Bell's business income has dropped from 72.85% in 2013 to 5.24%.

Meanwhile, its net profit continued to decline in the past two years after reaching a high of 615 million yuan in 2015.

In recent 2017, La Natsu Bell's net profit was only 499 million yuan, or even lower than that of 2014, while the revenue of that year was less than 70% of 2017's.

Data showed that as of the end of December 2017, La Natsu Bell had 9448 sales outlets, a net increase of 541 compared with 2016, and the number of employees reached 37554.

This shows that the growth of La Natsu Bell's business revenue is mainly due to the growth of sales point, rather than the improvement of operational efficiency.

Main financial data of La Natsu Bell in recent years

The Naf Naf is not optimistic about the situation.

Naf Naf was founded in France in 1973, mainly engaged in women's wear products and accessories sales.

The target company has 494 stores in France, Spain, Belgium and Italy, of which 216 are France and 278 are outside France.

As of August 31, 2017, the target companies in fiscal year 2017 achieved operating income of 208 million euros, EBITDA 7 million 600 thousand euros, net profit of 300 thousand euros before tax, and net profit of only 100 thousand euros after tax.

In the 2016 fiscal year, Naf Naf lost 7 million 700 thousand euros.

However, considering that there is no official sales channel for Naf Naf in the country, La Natsu Bell will introduce it into the Chinese market in the future. This piece is a pure increment for Naf Naf. If the investment is properly integrated, the probability of value recovery will still be higher.

In La Natsu Bell's 2017 annual report, it clearly stated that "in the next three to five years, in order to gradually achieve the goal of becoming a leading global multi brand and all direct fashion group, the company will enter the overseas market through investment mergers and acquisitions, while introducing foreign high-end products and brands into China".

The acquisition is also its first move. It is foreseeable that La Natsu Bell will become one of the main players in overseas acquisitions of the garment industry in the future.

These Chinese funds have acquired records since 2018.

With the rise of the concept of "consumption upgrading", overseas mergers and acquisitions in the high-end apparel industry in recent years have been one of the hotspots of Chinese overseas mergers and acquisitions.

Since 2018 alone, the following cases of Chinese overseas mergers and acquisitions have been announced or delivered.

Shandong Ruyi purchase Bally

In February 9th, the JAB group announced that Ruyi group of Shandong decided to acquire its Swiss leather brand Bally.

The price of the paction was not disclosed in the announcement.

However, according to Bloomberg's previous report, Ruyi quoted a price of up to 700 million US dollars for Bally.

Bally was founded in 1851 in Schonenwerd, Switzerland. It mainly produces luxury shoes (Lok shoes, winter boots, etc.), as well as men's wear and accessories (including belts, handbags and wallets).

Because of the luxury luxury duet and the high price of the paction, the paction is also regarded as one of the overseas mergers and acquisitions by Chinese capital in the most influential domain of clothing collar.

Fosun buys French luxury Lanvin

In February 22nd, Fosun international officially announced the acquisition of Lanvin. Lanvin was founded in 1889 by Jeane Lanvin, the oldest fashion brand in France, and is now operating in more than 50 countries, covering clothing, leather goods, footwear, accessories and perfume.

In 2001, Wang Xiaolan, a businesswoman in Taiwan, looked at the brand's potential for development in Asia and acquired most of the company's stake.

In March 2nd, Fosun again bought its majority stake in Austria fashion retailer Wolford AG for 33 million euros ($40 million 300 thousand).

Wolford is the top underwear brand in Austria.

Its fist product in the fashion industry is its home stockings.

The AURA 5 stockings produced by its family are the world's thinnest stockings, and the size unit of socks fiber has reached the incredible 5DEN.

Like Nicole Kidman, Faye Wong and so on are the most loyal users of his family.

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Dayang creation group invest in Australian menswear brand InStitchu

In February 27th, Dayang creation group, a garment maker in Dalian, invested $2 million 500 thousand in InStitchu, an Australian Internet customized menswear brand, and became a InStitchu production partner.

InStitchu, founded in 2011, is one of Australia's largest manufacturers of custom menswear.

InStitchu will also use this financing to set up physical stores around the world, optimize stores and enhance online consumption experience.

Zhejiang Asia group buys fast fashion brand JUST FOR YOU

In March 16th, Zhejiang Asia Group announced that it had successfully acquired the JUST FOR YOU (JU), which covers the brand intellectual property and stores. However, the group did not disclose the details of the acquisition.

JU is a fast fashion clothing brand from the United States. It belongs to the brand of the Zeeman holding group and MINISO brand.

In addition to the above certainty pactions, there are also rumors about Chinese investors or the acquisition of German fast fashion giant C&A and other potential pactions.

Just over a quarter, Chinese investment in the garment industry has seen more investment in this field.

Who will be the next Chinese buyer?

Although there are frequent customers such as Ruyi and Fosun in Shandong's overseas M & a market, there are also new novice like La Natsu Bell.

However, many domestic apparel companies have not yet started large-scale overseas mergers and acquisitions.

The next big buyer of overseas apparel acquisition is in the following companies.

Company name: YOUNGOR

Main products: brand clothing production and sales, real estate development

Financial indicators (2016):

Total revenue: 14 billion 895 million

Net profit: 3 billion 685 million

Past investment cases: in 2014, YOUNGOR completed the acquisition of Hart Schaffner Marx (Hart's trademark right in China).

Analysis:

YOUNGOR has a better financial position and has the ability to undertake overseas mergers and acquisitions, and its growth has slowed down in recent two years. If we want to continue to grow in the future, overseas mergers and acquisitions will be easier to get along with their own organic development.

Company name: Hai Lan's home

Main products: high quality worsted fabric, high-grade suit, shirt, production and sale of professional clothes, dyeing and finishing business.

Financial indicators (2017):

Total revenue: 18 billion 200 million

Net profit: 3 billion 329 million

Past investment cases: in 2017, it acquired 1 million 872 thousand and 900 yuan and 4 million 550 thousand yuan for cross-border import and export companies (HEILAN GROUP CO.LIMITED's two companies "EMPIRO MARKETING" and "MALAYSIA MARKETING").

Analysis:

The above two acquisitions are obviously for the purpose of serving the existing export business.

In the 2017 annual report, Hai Lan home has clearly proposed that it will invest and merge around the garment industry, dig out investment and acquisition targets that meet the company's strategic objectives, cultivate new profit growth points, expand and optimize the company's industrial layout, and inject endogenous impetus for the company's sustainable growth in the future.

In addition, under its annual net profit of more than 3 billion yuan and the market value of 53 billion yuan, it is not hard to imagine that Hai Lan's home will open overseas mergers and acquisitions in the near future.

Company name: seven wolves

Main products: research, design, manufacture and sale of clothing and apparel products and clothing raw and auxiliary materials.

Financial indicators (2017):

Total revenue: 3 billion 85 million

Net profit: 317 million

Past investment cases: 2017 acquisition of the international light luxury brand Karl Lagerfeld operation right in Greater China.

Analysis:

The acquisition of KarlLagerfeld Greater China operation right was only a trial run by seven wolves overseas. It subsequently participated in Bally's bid and showed its promising overseas acquisitions.

In the 2017 annual report, the seven wolves also indicated that they would continue to consolidate the existing brand management, actively cultivate new brands, and increase the intensity of the extension acquisition, and expand the consumer groups covered by the company's brand.

In the future, the seven wolves will probably have other actions overseas.

More interesting reports, please pay attention to the world clothing shoes and hats net.