February 13, 2019 by yucherrty
Valentine's Day is a Romantic Day for the lovers. Once you want to buy some Valentine's Gifts, you can first consider about the savings. Here from Dacoz list 7 fashion stores with the biggest Valentine's Day sale. Let's shop Valentine's gifts for your dear one.
Effy Jewelry: EFFY VALENTINE'S DAY SALE IS ON! Save Up To An Extra 25% Off Site Wide
Szul.com Coupon Code IHEART22: V-DAY Exclusive 22% Off All Diamond Solitaire Earrings
Giuseppe Zanotti Design: Valentine's Gifts Guide for Her
Bluebella US: Valentine's Gifts - Perfect gifts for the lingerie-lover in your life.
Metisu: Valentine's Day 50% Off Only 3 Days
Takeya USA: Valentine's Day Sale! Save 20% On Select Colors and Get a Free Bumper and Band!
Gifts N Ideas: Get 20% Off on all products. Discount applicable on all products except already discounted items.
January 25, 2019 by yucherrty
This is already the tenth price cut for MUJI in the Chinese mainland market.
This time it is related to MUJI star products. Such as the aromatherapy machine series, the highest price drop even reached 30%. Others, such as basic clothing products, including double-side gauze pajamas, men's and women's underwear, bra series, and some storage and life products, the price cuts are around 20%.
MUJI said that after re-examining the prices of some of the star products, it hopes to deliver better products to consumers at a more reasonable price.
However, if the words are better, it is still impossible to conceal the move as a helpless move to boost the performance of the mainland China market.
Continuous price cuts that are not bought
MUJI has been in existence for 38 years since its establishment in the 1980s. From Japan to the world, it has developed 700 stores and more than 7,000 products, making it a dark horse in the global retail industry. Recently, however, it has encountered some trouble in the Chinese market.
MUJI's parent company's good project announced the financial briefing for the third quarter of 2018/2019. From September to November 2018, MUJI's same-store sales in China fell by 4.1%, which was more than the second quarter. From February to November 2018, MUJI's sales in the Chinese market amounted to approximately RMB 3.347 billion, and same-store sales decreased by 1.5%.
The Chinese market has dragged down the business of the entire overseas business unit of the Good Projects, resulting in a 0.2% decline in same-store sales in overseas markets.
Moreover, this occurred on the premise that MUJI continued to cut prices nine times in mainland China. In October 2014, MUJI announced for the first time that it launched a “new pricing” campaign in the Chinese market. The average price of products in more than 100 categories was 17.5%.
However, Chinese consumers do not seem to buy it.
In the past year, MUJI has not been successful in China.
In September 2018, a staff member of MUJI refused to cooperate with the Haidian Branch of the Beijing Municipal Administration for Industry and Commerce to conduct commodity sampling inspections, which aroused public concern. Subsequently, the local industry and commerce bureau notified the results of the quality inspection of MUJI clothing on its official website, and a total of 10 batches of clothing were unqualified.
The recent "carcinogenic door" has caused the brand image of MUJI to be hit again. A few days ago, the Hong Kong Consumer Council released a test report that MUJI's a hazelnut oatmeal biscuit was found to contain genotoxic and carcinogenic substances.
Competitors step by step
In addition, Chinese consumers have more new options. Netease's strict selection, Mijiayoupin, Taobao's choice and other companies with similar positioning of MUJI have risen, making MUJI, which is accused of high prices in the Chinese market, fall into a passive situation.
For example, a 70cm x 140cm bath towel is priced at 180 yuan in the official website of MUJI China, and is carefully selected in Netease. The same type of bath towel is less than 100 yuan.
Behind these brands is the support of Chinese Internet giants and the dedication of brand resources. NetEase has carefully selected the first offline store in Hangzhou recently, and not far from it is the flagship store opened by MUJI. Taobao’s selection also launched the “Life Molecular” series of Japanese design master Shen Zezhi, who insisted on “minimalism”, and Shenze Zhiren was originally a Muji cooperation designer.
At the same time, the cheap lifestyle home brand Mingchuang products also received a billion yuan investment in Tencent and Gaochun Capital last year. The data shows that as of December 2018, Mingchuang Premium has 3,400 stores worldwide, including more than 2,200 in China and nearly 1,200 overseas.
Compared to the Chinese competitors who “have no middlemen to make a difference”, the price of MUJI in China is not competitive.
Halo fades, puts down the posture
MUJI was born in Japan in the 1980s. After the bubble economy period, consumers refused to pay for the brand premium, from luxury consumption to rational consumption. It is in this context that MUJI has emerged, simplifying packaging while ensuring product quality, and achieving “reasonably cheap”.
Different from the positioning of “good goods are not expensive” in the Japanese market, MUJI’s “no label” concept has won a large number of people with a new consumption philosophy that coincides with the lifestyle of China’s new middle class. Followers of the crowd.
As a result, this Japanese “civilian” brand has become a “light luxury” brand in China and is intended to strengthen this aura. The prices of MUJI products sold in China are much higher than those in Japan, and some are even twice as large as those in Japan.
However, Chinese consumers are gradually becoming immune to such routines, and the aura of MUJI has begun to fade in the Chinese market.
From the second quarter of fiscal year 2018 to the second quarter of fiscal year 2019, the quarterly operating income of the MUJI parent company's good products in the Chinese market increased by 22.6%, 21.2%, 18.3%, 14.8% and 10.4%, respectively. Slow down the trend.
In order to defend the Chinese market, the good product plan began to adopt a localization strategy in August 2018, allowing the Chinese team to undertake part of the product design and research and development work for the local market. Prior to this, this part of the work was completed Romwe Promo Code by the Japanese headquarters.
“We want to sell those products that are suitable for the Chinese market.” Mr. Matsuzaki, president of the Good Projects, gave an example that Chinese consumers think that the MUJI kettle is too small.
Breaking the road: high-end, open big shop
Whether it is continuous price cuts or quick store opening strategies, you can see MUJI's emphasis on the Chinese market.
In the 2020 mid-term business plan of MUJI, the Chinese market is an important growth driver. It plans to reach 500 billion yen in revenue by 2020, with 1,200 stores worldwide. The East Asian market where China is located is the fastest to open stores.
In addition to price cuts, opening a "big store" is a new move of MUJI in China.
In the past month, MUJI has opened two “world flagship stores” in Nanjing and Hangzhou, which are two new ones after Chengdu and Shanghai. According to the last world flagship store opened at 755 Huaihai, Shanghai, it has been 3 years.
In addition to larger area than regular stores and more local features, the world flagship store has a richer experience and services, such as MUJI books, restaurant/cafe MUJI cafe, costume matching, furniture matching and customization and exhibitions.
By expanding the consumption scene and opening up diversified businesses, it is still unclear Dacoz whether it will become the road to breakout of MUJI in China. However, compared to competitors such as Netease Koala, it has undoubtedly more experience in the layout and operation of online retail.
January 18, 2019 by yucherrty
In 2018, on a global scale, the fashion industry is still in the midst of a wave of change and innovation, presenting a complex and multi-layered appearance.
Because "the road ahead is unclear," in the past year, many brands that have been shouldering the Dacoz shoulders have embarked in a completely different direction. In the process of vying with the market, the fashion industry, brands, and practitioners have carried out various explorations. In this observation, we have edited a landmark event and trend under each change keyword, and inspired further thinking with examples.
Self-help "slow down" fast fashion giant
In the low tide of retail and word of mouth, in order to win market attention and renewed respect and trust from consumers, many fast fashion brands have reverted to the main business of clothing and began to work hard on products and brand image.
For example, Uniqlo first tried to cooperate with the animation and movie IP in popular culture. H&M also chose to set up a new sub-brand and open a joint brand name model to win more user attention and enhance brand loyalty.
Industry experts believe that in the past few years, fast fashion brands have begun to infiltrate from first-tier cities to second- and third-tier cities, and the expansion has not stopped. After the brand effect and the market scale reach a certain level and achieve the accumulation effect, the fast fashion brand needs to deepen the operational efficiency, and the “slow” is the inevitable result.
Nowadays, the fast fashion that has been “fast and beautiful” needs to slow down. It is also a reflection of the changes in the market driven by consumption upgrade. In the future, the fast fashion brand will work hard in product quality, cultural connotation and design direction to win the reputation and market.
Street-based Louis Vuitton
In the spring and summer of 2019 men's clothing week, Off-White founder Virgil Abloh as the first black designer in the history of Louis Vuitton to take charge of the men's fashion show, for everyone to enjoy a street full of colorful, colorful to the sky "rainbow men" Big show.
Off-White is the leader in street fashion, and Louis Vuitton's "new debut" this season has also been interpreted by industry professionals as the iconic work of big names becoming more and more street-oriented and trendy.
It can be said that such subversive innovations have no distinction between good and bad, only aesthetic arguments. Those who oppose the big-name street styles believe that the “unfettered creation” of street culture is engulfing the strong brand personality of high fashion and history. For example, men's clothing week in spring and summer, dozens of shows, bright colors, artistic totems and "changing soup without changing medicine" logo shirt, while impacting everyone's vision, but also make people feel tired, began to miss the early years of those long-lasting Classic gentleman style. But how many young users “Old Fashion” can leave for the brand is also a question mark. In 2018, looking for the scale of exploration in the entanglement is almost the "day question" of all the big names.
Saddle bag's "classic revival"
The fashion trend is a circle, going around and returning to the original point. This law was once again verified on the Dior women's dress that Maria Grazia Chiuri was in charge of.
In the Dior2018 autumn and winter ready-to-wear collection, we once again saw the classic Saddle Bag saddle bag of the John Galliano era. The familiar "CD" printing made us wonder, and the previous creative days.
The classic "revival" also brought real economic benefits to Dior. According to eBay's latest 2018 shopping report, Maria Grazia Chiuri's re-interpreted saddle bag has achieved nearly 20% growth in the year alone. They commented that this kind of work that pays attention to the current trend in the tribute, It can be seen as the positive effect of Dior's younger strategy, and this kind of "operation" is worthy of the same kind of big-name reference learning.
The rise of the influence of the millennials
In 2018, the “Millennial Generation” has deepened its influence on the industry.
Industry experts believe that the 20-34-year-old Chinese young people's luxury goods consumption is earlier and more frequent, and the range of products purchased from jewelry, fashion items, beauty and bags is very wide. Their luxury consumption path is highly digital and fragmented. And if brands want to approach these young people, they need to work harder in Clothing Coupons areas such as e-commerce and digital marketing that are closely related to the daily work and life of young people.
Therefore, in 2018, we will see the big brands that have been "cold and cold", and will choose to join hands with e-commerce, and will continue to open flash-shops, even looking for net red, shivering, fast, to young people. The means of "showing good" are endless.
At the same time, there is a lot of debate about where the millennials are coming from, and whether purchasing power can continue. Whether the big players' "low posture" can harvest the fruits of market feedback remains to be further tested.
January 10, 2019 by yucherrty
The Textiles Exchange, the global non-profit organization, has released the Preferred Fiber Materials Market Report. The report shows that the H&M Group is currently the largest consumer of sustainable cotton and man-made fibre materials worldwide (eg Lysell, etc.). This marks the H&M Group's further step towards its long-term sustainability goal of achieving 100% use of recycled or other sustainable sources by 2030.
Living on a planet with limited natural resources means that the future of the fashion industry will not be able to operate in the current way. H&M believes that a business model based on reusable sustainable materials is the only way to maintain the sustainability of the fashion industry. Liesl Truscott, Head of Europe and Materials Strategy at the Textile Exchange, said: “Industry leaders have demonstrated their commitment to continuous improvement in sustainability. The data shows that the longer the set goals are, the more improvements companies will make. The more positive the impact, the companies recognize the need to strengthen and truly integrate successful environmental concepts into their companies."
The H&M Group's goal is to 100% use renewable or other sustainable sources by 2030. An important goal in this journey is that by 2020, all cotton used by the group will come from sustainable sources. H&M is proud to be the world's largest sustainable cotton user, including cotton that does not use fertilizers and chemical pesticides in the production process, recycled cotton and good cotton from the Good Cotton Initiative (BCI), and the world's largest Sustainable man-made fiber material users. According to the latest preferred fiber material market report from the Textile Exchange, the H&M Group is also one of the largest users of the world's sustainable source of down and one of the largest users of sustainable source wool.
Cecilia Brännsten, H&M Group's manager of sustainable environmental management, said: “With the Group's annual steady growth in the use of recycled and other sustainable sources, we have not only promoted cotton such as fertilizers and chemical pesticides that are not used in the production process. The growth in demand for widely used materials has also had an impact on the scale-up of new sustainable materials. We hope to guide other companies in the industry to move towards a sustainable future."
Looking ahead, the fashion industry will use many different materials than today. Through the H&M Environmentally Conscious Action Limited Series, H&M Group introduces new Romwe Promo Code environmentally friendly materials into its product range every year to explore the latest innovations. For example, Bionic® fabric, a recycled polyester made from waste plastic recycled from the coast. For example, recycled cashmere and recycled velvet made of recycled polyester fiber.
H&M Group's production material target - cotton is the most used material by H&M Group. Our goal is to use all the cotton used by the group from sustainable sources by 2020.
In 2017, 59% of the Group's cotton was derived from cotton, recycled cotton and good cotton that did not use chemical fertilizers and chemical pesticides during the production process. - In 2017, 35% of all materials used by the group were recycled or other sustainable sources. Our goal is to reach 100% by 2030.
December 26, 2018 by yucherrty
The restructuring of the Dutch Free Promo Codes clothing retailer C&A is still going on. The company will expand its business by developing new product categories. The wedding series will be launched for the first time in April 2019.
In addition to the traditional long, short and medium-length models, this wedding dress has a choice of jumpsuits. Due to the positioning of the mid-end market, the price of the wedding dress with the highest price of this wedding series is 179.9 euros (about 1409 yuan), and the lowest price is only 29.9 euros (about 235 yuan).
The C&A Bridal Collection will be available on April 4, 2019, in the C&A line store and online store. In an interview with FashionNetwork, C&A spokesperson Sabrina Shairzay said the brand is very optimistic about the wedding collection, but since the series has not yet been officially released, the company has not decided whether to continue to launch the wedding series in the future.
In January 2018, the news that C&A will be acquired by Chinese-funded enterprises has been rumored. At that time, Der Spiegel received news from inside sources that the deal would be finalized soon. However, C&A declined to comment on the news.
In the past few months, the rumors about the acquisition of C&A have disappeared, but there have been frequent personnel changes in European companies. Four of the seven members of the European board of directors left in October.
“If a company wants to make decisions more efficiently and faster, it needs a streamlined and well-defined management team and a flat structure,” Clain CEO Alain Caparros said in an interview with the German news agency.
Although C&A has not published the company's specific financial data, it is widely believed that C&A's sales have fallen sharply in the past two years. In February 2017, C&A announced the closure of its first flagship store in Chunxi Road, Chengdu. After a few months, C&A retired from the Russian market. In 2017, C&A began to adjust its organizational structure by taking measures such as closing loss-making stores, laying off employees, and reducing operating costs.
The launch of the wedding series is the latest adjustment measure of C&A, and it is also a measure that many fast fashion brands have tried in recent years. According to Global Industry Analysts, the global wedding market will reach 80 billion US dollars (about 551.9 billion yuan) in 2020, which is a big cake that brands are striving for.
British fast fashion brand ASOS launched the wedding series in April 2016, the price is also a universally affordable position, the whole set does not exceed RMB 4,000. Another British fast fashion brand TOPSHOP launched the wedding series in 2017, including wedding dresses, bridesmaid dresses, underwear, headwear, wedding shoes and other categories.
However, the most famous fast fashion wedding dress should be H&M's wedding series. Because Shu Qi announced his marriage with Feng Delun in 2016, the wedding photos released by H&M in 2014 were wearing the environmentally-conscious conscious action limited series of dresses launched in 2014.
December 7, 2018 by yucherrty
Shenzhen Hemei Group Co., Ltd. (hereinafter referred to as Hemei Group), which is bent to build the first channel of China's high-quality brand omni-channel, has to sever the Armani agent sales assets, and the proposed sale price is not higher than 210 million yuan. A book loss of approximately 25 million yuan.
In other words, the Hemei Group also wants to clear Armani at a loss. According to its public reasons, the operation of Armani business did not achieve the expected results, and did not form a good economic benefit for the company, which affected the company's layout and planning of the international brand operation strategy to a certain extent. However, those who are careful have found that the funds of Hemei Group are under pressure, and this money has the meaning of emergency.
Around June of this year, a sudden "financial drop lever" made the company into a financial dilemma. In the context of the financial de-lost policy, banks generally tightened the loan quota for SMEs, and the situation of lending is not uncommon. At the same time, the financing channels such as equity pledge and bond issuance are no longer as smooth as before. The Hemei Group's capital chain, which has frequent asset operations, is suddenly tight.
A notice from China's executive information disclosure network shows that Hemei Group has been listed as "Lao Lai". The enforcement court is the People's Court of Jiang'an District of Wuhan City. The reason is that Beijing Shouhe Investment Co., Ltd. still owes a loan of 10 million yuan to Wuhan Credit Microfinance Co., Ltd., and is therefore listed as the untrustworthy enforcer.
Hemei Group, formerly known as Shenzhen Haoningda Instrument Co., Ltd., was established in 1994. At the beginning of the listing, the company's business still belongs to the field of smart meters. After changing the lanes from diamond jewelry to financial services to clothing and apparel, it has been carried out for 8 years. 17 mergers and acquisitions, and frequently sell profitable projects, buy loss-making companies, and personally push themselves into the crisis.
According to the semi-annual report of 2018, the total amount of short-term loans that Hemei Group has overdue is 46.35 million yuan. Moreover, according to the "China Business News" survey, since June 2018, the group and its shareholders, affiliates and legal persons have been applied for freezing property 13 times, involving more than 370 million yuan.
Hemei Group's subsidiary Shenzhen Hemei Wisdom Technology Co., Ltd. (hereinafter referred to as “Hermizhike”) said on November 14 that the company began to have temporary liquidity difficulties in June. “The company used all the profits since its founding to advance. Until October 2018, due to the gradual increase in the gap, our rigid payment of investors is unsustainable."
Performance has also declined since 2017. In 2017, the non-net profit of Hemei Group's shareholders attributable to listed companies began to show a negative value of -67.35 million yuan. This decline continued in the first three quarters of 2018. In the first three quarters, the revenue was 1.589 billion yuan, down 15.83% year-on-year; the corresponding net profit loss was about 250 million yuan, down 318.1% year-on-year; the net profit attributable to deduction was about 274 million yuan, down 429.31% year-on-year.
It is worth noting that the net cash flow generated by Hemei Group's operating activities has been negative for many years. From 2013 to 2017, the net cash flow was -499.33 million yuan, -954.26 million yuan, -179 million yuan, 52.256 million yuan and -249 million yuan; the net cash flow for the first three quarters of 2018 was -2.48. 100 million yuan.
At the same time as the performance declines, the liabilities of the Hemei Group continue to rise. The asset-liability ratio from 2015 to 2017 increased year by year, with 38.58%, 60.26% and 68.80% respectively. Moreover, the debt structure is not friendly. As of June 30, 2018, Hemei Group's long-term borrowings were about 400 million yuan, accounting for 6.38% of total assets, while short-term borrowings were as high as 1.417 billion yuan, accounting for 22.61% of total assets. .
In the future, Hemei Group expects its net profit attributable to the whole year of 2018 to be approximately -395 million yuan to -4.66 billion yuan. Regarding the reasons for the change in performance, Hemei Group said that “the financial market policy and other factors will affect the difficulty of financing, and the financing costs will increase, which will affect the company's business segments. It is expected that the company's future performance will decline.
The disaster is not alone, the Hemei Group is also concerned about the exchange because it has not disclosed the related party transactions. It is reported that the Hemei Group's 5 electronic commercial acceptance bills with a total of 10 million yuan on October 18, 2017 have not been paid for one month. Due to the overdue of the above-mentioned bills, Hemei Group, Hemei Group Huizhou Branch and Wang Lei were brought to court by the holder of Shenzhen Yi'an Factoring Co., Ltd. (hereinafter referred to as “Yi'an Factoring”).
According to the bill information, the commercial acceptance bill for the financing of the factoring company by Huizhou Branch of Shenzhen Hemei Group Co., Ltd. was issued by its parent company Hemei Group. Because the branch is under the jurisdiction of the company in terms of business, capital, and personnel, it does not have legal personality and is a branch. For formal commercial factoring, it is generally required to provide basic transaction contracts and corresponding supporting documents, such as cargo transportation documents and invoices. Therefore, the authenticity of the bill was questioned.
The existence of bills between the Hermione Group and its subsidiaries has also caused trouble for the listed company Hermi Group: whether there are related transactions in the Hermi Group. On November 8, Hemei Group issued a notice acknowledging that the company and its subsidiaries and some related parties have daily related transactions such as procurement and sales. As of October 2018, it was 24,459,400 yuan, but the company did not deal with the above related transactions. Perform the corresponding approval procedures and disclose them in a timely manner.
To this end, the management department of the small and medium-sized board company also sent a letter of concern, indicating that the company's behavior violated the relevant regulations, the company's board of directors should pay full attention to the above issues, learn lessons, timely rectification, to prevent the recurrence of the above problems.
In addition, the mutual fund platform and small loan company of Hemei Group have already had loan items overdue, and the subsidiary company cannot assume the guarantee responsibility due to liquidity difficulties.
Buying loss-making assets exclusively?
Hemei Group is in a position to be inseparable from its frequent capital operations.
It is understood that at the beginning of the listing in 2010, Hemei was a meter instrument production company named “Hao Ning Da”, but its performance in the past few years was average. In 2014, Hemei obtained a 100% stake in each carat (Beijing) Diamond Mall Co., Ltd. through private placement of shares, and officially entered the jewelry industry.
Mergers and acquisitions per carat have allowed Hermi to taste the sweetness, with an estimated value-added rate of 526.53%. The 2015 semi-annual report showed that the company achieved operating income of 518 million yuan, a year-on-year increase of 170.03%, and realized a net profit of 5,762,290 yuan from the owners of listed companies, an increase of 493.78%.
Since then, Hemei Group has gradually acquired “addiction”.
In November 2015, Hemei Group acquired Shenzhen Lianjin Financial Information Service Co., Ltd. with its own funds of 255 million yuan (later renamed as “Hermizhike” and holds 100% equity of Shenzhen Qianhai United) and Shenzhen United Financial Microfinance Co., Ltd. (renamed Shenzhen Hemei Microfinance Co., Ltd., referred to as "Hermi Microfinance") 51% equity, the layout of mutual gold.
In 2016, the company officially changed its name from Haoningda to Shenzhen Hemei Group Co., Ltd., and the purchased assets gradually covered many fields such as jewelry, tourism and entertainment, international trade, e-commerce, and clothing department stores.
Since June 2017, Hemei Group has pressed the fast-forward button for asset operation. According to the statistics of the China Business Journal, since its listing in 2010, Hemei Group has conducted 17 mergers and acquisitions in 8 years, and the accumulated mergers and acquisitions exceeded 3.808 billion yuan. Among them, 9 orders occurred in more than one year since June 2017.
During the period, Hemei Group successively divested the traditional smart meter, diamond jewelry and financial services business, and spent nearly 1.5 billion yuan to acquire high-end consumer retail assets, mainly concentrated in the luxury agent field. What is embarrassing is that the group sells all profitable assets, and most of the acquisitions are loss-making DressLily Promo Code enterprises. After a series of capital moves, the performance of Hemei Group has gone from bad to worse. Market participants shouted, and the operation of Hemei Group really made people unable to understand.
The most typical is the acquisition of four companies under the Rainbow Group by Hemei Group. In October 2017, Hemei Group, a subsidiary of Hemei Group, acquired 80% equity of Qiuqiao Fashion, Rainbow Shenzhen, Yingcai Development and Rainbow Zhuhai in the form of paying 800 million in cash. The company promised to complete 3.1 in three years. 100 million yuan performance against gambling.
However, in 2016, the four companies all suffered losses without exception. In the first half of 2017, only two companies made profits, and the total net profit was only 6.45 million yuan. In the first three quarters of this year, the net profit realized by Qiuqiao Fashion, Rainbow Shenzhen, Yingcai Development and Rainbow Zhuhai was -282.57 million, -561.57 million, 5,234,200 yuan and -2,214,400 respectively.
The promised performance of 310 million yuan is obviously difficult to achieve. However, due to the acquisition, Hemei Group added up to 1.246 billion yuan of clothing inventory in 2017, and in less than one year it has accrued a reserve of up to 454 million yuan. It should be known that the cumulative net profit of Hemei Group's listing in the past 8 years was only 548 million yuan.
November 19, 2018 by yucherrty
From a small factory in Jinjiang, Fujian Province, to the “big Mac” in the forefront of the global sports goods management company, Anta has changed. This change is not only reflected in the financial report figures, from the digital construction of the back-end industry chain to the front-end stores, brand upgrades, and the new retail, unmanned retail, smart retail and other concepts are emerging endlessly, Anta is insisting on its own value retail Road.
-1- Hug digital, what are the highlights of Anta Wisdom Store?
Located in the most prosperous Binjiang Avenue Pedestrian Street in Tianjin, the 800-square-meter pavilion is divided into two floors. The color style is simple and clear, which is the latest eight-generation shop of Anta. In addition to the change in appearance and style, it combines four “smart functions” such as cloud shelf, pressure bar interactive screen, Anta You Mall and instrumental shoes. This is the third smart store that Anta has landed nationwide.
As the “leader” of Anta's digital industrial chain, smart stores have made great efforts in how to obtain consumer behavior preferences. The biggest highlight is reflected in Anta's flagship footwear products. Through the RFID tag attached to the product, and the shoe rack with the receiver in the store and the shoe bench, the customer can get the complete data retention in the store by picking up - try-on-buy.
Reflected in the production and research and development process, through the rate of pick-up, try-on rate, comprehensive store discounts and other external factors to the final conversion into purchase behavior, can reflect the consumer satisfaction in the design, try-on experience, price, and thus Corresponding adjustments.
In addition, the store will also combine the RFID sensor of the main push product in the season with the interactive large screen. The customer picks up the product, and the interactive screen corresponds to the product details and recommended matching. It provides consumers with more intuitive status as “intelligent electronic shopping guide”. Comprehensive product introduction and updated odd interactive experience.
Cloud shelf is also one of the characteristics of Anta's smart stores. In the past, e-commerce and physical stores have been in a state of opposition for a long time, and consumers' pursuit of preferential prices, convenient delivery and experience is difficult to unify. The physical store is limited by space, often can not display all sku, through the cloud shelf, offline space to achieve service boundary expansion, stores get rid of the space constraints, to display more goods, consumers can also view the preferential situation in real time, and free choice of delivery home Or the store direct mention mode.
More details are in the promotion of store optimization and business guidance. The Antayou Mall system, which is cooperating with Tencent, can distinguish the age and gender characteristics of the customer group through the camera at the entrance of the store; dozens of cameras distributed in the store are moving to the customers. The line and the stay area are monitored to determine the regional heat of the store. This kind of data is a guide for the decoration of the store, the furnishings of the goods, and the design of the moving line.
The renovation of the store will inevitably require cost investment. Guo Wei, director of Anta Retail Data Center, told reporters that the current cost of RFID tags can be controlled at around 4 hairs. However, with the number of nearly 100 million items per year of Anta, the annual investment in RFID tags will reach About 40 million is also one of the biggest investments at present. Nevertheless, RFID tags not only serve in store interaction and consumer data collection, but also the significant manpower and time savings saved in commodity logistics traceability, warehouse inventory counts, etc.
-2-Manufacturing companies turn to retail enterprises, Anta's biggest task is to understand consumers
For a long time, Anta has represented the vast sinking market of China's sportswear industry in the eyes of most people – especially in the case of “old rival” Li Ning suffered a transformational defeat, and Anta’s financial figures are brighter year after year. Most of the voices attribute the reason that Anta has seized the huge consumer demand of the “three-four-line market”.
In fact, Anta has never confined itself to the sinking market. Sponsoring the Chinese Olympic Committee, signing the NBA, launching joint-name models, limited editions, promoting store upgrades and data transformation of the industrial chain, Anta is becoming more retail thinking and more textured.
The turning point of all this appeared in the inventory crisis that swept the national apparel industry in 2012. The traditional wholesale model from the top and the bottom caused an information gap between manufacturers and consumers. On the one hand, the overcapacity of upstream manufacturers, on the other hand, the downstream Consumer demand is shrinking, and the middle dealers have to pay off at a loss under the pressure of inventory, and even close the store.
In this crisis, Anta realized two key issues, one is to establish strong links with consumers, and the other is to strengthen control over the industry chain and channels. On this basis, Anta has carried out a series of retail-oriented reforms, including the unified installation of ERP systems for stores, the promotion of dealers from ordering systems to distribution systems, vertical integration, and self-operated full-line industrial chains.
From a manufacturing-oriented company to a retail-oriented enterprise, this reform is regarded by Anta as a symbol of the company entering the 3.0 stage, and also a sign event that Anta entered the brand retail stage from the wholesale stage of the brand. Since the number of stores is close to 10,000, the main brand of Anta cannot be managed in the same way as the acquired FILA. The dealer system has not changed fundamentally. However, Anta strengthened its ability to control downstream channels through a series of changes in the management system and incentive strategies of dealers, and established the culture of Anta's “retail iron army”.
Since then, for six years, Anta, which has opened up the industrial chain and downstream channels, faces one of the most complicated problems. What do consumers want?
-3- Do the best "match", Anta's retail approach
The sporting goods industry maintained rapid growth under the influence of consumption. From 2008 to 2016, the scale of China's sports industry increased from 170 billion yuan to 1700 billion yuan, a tenfold increase. Behind these figures, with the diversification of consumer groups, scenarios, and ideas, consumer preferences are becoming more and more elusive.
As the chairman and CEO of Anta, Ding Shizhong once said: "The product is too simple, and it is too difficult to do the right product."
Anta, which has always faced the mass sports consumer market, covers not only the first-to-fourth-five cities, children to middle-aged and elderly consumers, but also professional sports customers and ordinary consumer groups, as well as offline and e-commerce channels. How to provide products and services in a consumer-oriented manner within such a large business system? Li Ling, vice president of Anta, told reporters that matching the goods and experiences in the space of consumers and insisting on “value retail” is Anta’s retail approach.
Consumer demand and product matching
With Anta's brand upgrade, user portraits have been changing. Anta has launched a multi-brand strategy since 2016. In addition to the main brand of Anta, the Group has acquired a series of brands such as FILA, Disante, Spandy, Kelon and Xiaoxiao Niu, specializing in life-oriented and high-end. ——The various dimensions of the public are covered by various application scenarios and income classes.
Anta Group's multi-brand strategy
For the main brand, An Li, vice president of Anta, provided some data to the reporter. According to a consumer research report conducted by Nielsen, Anta's current core customer focus is on second- and third-tier cities, 18-35-year-old sports-loving young people, with younger, more specialized and central cities. Centralize the trend.
As consumers' enthusiasm for sports continues to rise, so does the demand for functionality and design in the choice of sporting goods. It is understood that Anta spent tens of millions of yuan in 2005 to build the country's first national sports science laboratory, and developed a number of exclusive patent equipment.
According to Li Ling, vice president of Anta, the laboratory is equipped with more than 300 experts, and the master's and doctoral degrees are close to 90%. Relying on this team, Anta constantly improves its research and development capabilities. In addition to custom-made products for the Olympic Committee and contracted athletes, the laboratory also conducts material testing and research and development for mass commodities. In the first half of 2018, Anta's R&D investment already accounted for 6.2% of the cost of sales.
In terms of design, Anta also got rid of the “homogeneous” label that is often used by domestic brands. The KT Thompson series basketball shoes, which cooperated with NBA star Clay Thompson, caused a rush to buy around the world. Anta has a dedicated team of diverse designers in the United States, Japan, South Korea and Hong Kong, and has reached a scale of around 260. It has also established long-term cooperative relationships with some domestic universities that are good at product design and development.
On the basis of product upgrades, cost-effective has always been one of Anta's labels. Li Ling said that with the advantages of grouping, Anta has a good control over the cost of material procurement, so it can maintain the two-way stability of price and gross profit. Anta's product pricing range covers 299 all the way to 899, which can meet the needs of different consumption groups, and also introduces limited edition and joint-name series for sports enthusiasts.
In addition, female consumption is also one of the important directions of Anta in recent years. According to data from Anta, the ratio of male to female in the store is about 4:6, but in terms of the proportion of goods sold, 60% of men and 40% of women. In the past two years, Anta has expanded the proportion of sku for women's products, and has set up a special women's area in the store to further tap the potential of women's consumption.
Consumer scenes match channels
As offline shopping is intensively developed and infiltrated from first- and second-tier cities, traditional commercial pedestrian streets are gradually being transformed into shopping malls with higher efficiency. In the past, Anta started as a street shop. With the advantages of grouping and the upgrading of store brands, Anta has already turned to shopping malls in first- and second-tier cities. According to Li Ling, the proportion of shopping malls in the Anta line has risen to over 30%. This shift in consumption will be the future trend of Anta, but in the short term, street shops will still dominate.
As far as the single store is concerned, due to the trend of consumption upgrade, the future Anta stores will be more represented as high-standard stores in the core business district, and the proportion of regional flagship stores and image stores will rise. Taking the latest 8th generation store as an example, more than 3,000 have been opened, and the store after the upgrade has achieved the same store business growth of more than 22%.
Although Anta is based on offline, the e-commerce channel has also experienced rapid growth in recent years. According to Zhang Bing, director of Anta E-commerce Division, within two years, Anta Group's online business is expected to exceed 10 billion. On the day of 2018 Double Eleven, Anta Group's daily water flow reached 1.13 billion yuan, an increase of 67% over the same period last year.
Zhang Bing expressed a theory of “5*24” and “2*24”, that is, most of the traffic on the working day is only online, but the weekend consumers will return to the line, and the alternation of channels forms the normal state of current consumption. Anta's attitude towards online and offline business is to promote integration. It relies on the cloud shelf and membership system to open up the space boundary, and applies the online game of “Thousands of People” to the “Thousand Shops” of offline retail terminals.
Consumer experience matches the store
As an irreplaceable advantage of offline entities, the improvement of store experience is a concern of every retail company. Anta has done a lot of detailed work in this area. Taking Tianjin Wisdom Store as an example, the traditional huge checkout counter has been removed, and the customer rest area has been reserved in the second floor facing the street; the fitting room is from the standard 0.9*1 The meter has been expanded to 1.5*1.5 meters, and the system including audio, lighting and fragrance has been optimized and customized.
In addition, Anta's attitude towards store upgrades is not the same for the differences in the consumption behavior of store customers in different regions. Li Ling, vice president of Anta, repeatedly stressed that technology is only a means. Wisdom stores are not technical issues, but how to obtain big data on consumer behavior and translate these data into behaviors that guide the company's goods and operations.
Consumer insight and data matching
Anta is currently investing a lot of energy in data processing. The smart store mentioned above is one of the most intuitive parts. Through the analysis of behavioral data collected in the consumer segment, it gives reference to various aspects such as store operation and product development. But Anta's data is not only this, but from two dimensions, one is membership data, and the other is industry chain data.
The Anta Zaful Coupons membership system is based on the mobile phone number as the identity authentication. In the official website, WeChat applet, mobile phone Taobao and other platforms, the member consumption data has been opened, and Anta hopes to realize the one-to-one personalizedization based on the smart store. Exclusive shopping guide service.
The investment in the industrial chain data is even greater. Anta has established an integrated industrial park in Jinjiang with logistics as its core and intelligent factory and R&D center functions. Li Ling told reporters that after the completion of the industrial park, the transfer of CRM information system will directly link each store to the total warehouse. The big data center can realize the mastery of single product, single store or even individual city data. Provide important data support. In the logistics aspect, one-to-one delivery can be achieved in a single store, so as to achieve accurate control of inventory and reduction of logistics costs.
As a domestic sports brand, from the foundry to the establishment of its own brand, step by step to internationalization, relying on technical strength to enrich themselves, Anta has Newchic Coupon gone a long way since its growth. After the transformation, Anta has continued to explore in terms of how to serve consumers, despite its bright financial data and the position of the domestic sportswear management company.
Li Ling, vice president of Anta Group, insists that the brand is a business of “people” and also a service of “people”. Studying the important mix of “people's goods yard” in brand retailing is an unrepeatable advantage of Anta brand. Anta’s retail approach is “value retail.” Value retail is a summary of Anta's winning terminal and consumer-centric retail concept. Brand retailing will eventually return to the fundamentals of business value, and focus on the needs of consumers, with data value, integration value, experience value, culture and team value to enhance consumer value.
November 5, 2018 by yucherrty
American luxury goods group Michael Kors Holdings Limited (hereinafter referred to as "Michael Kors") acquired 1.83 billion euros for Italian luxury goods company Gianni Versace S.p.A. Is it expensive?
The market has responded to this: Since the announcement of the deal in late September, the market Dacoz value of the Michael Kors Group has lost $1.8 billion, and the stock has fallen by nearly 13%. In the same period, the US Standard & Poor's 500 Index's Consumer Goods Index fell. Only 8%.
However, Michael Kors' stock has rebounded in the past two days, mainly because UBS Group AG and US investment bank Piper Jaffray analysts have raised their stock ratings, they agreed: Versace is expected to promote the group's The income grows.
On Friday, UBS analyst Jay Sole said in a report: "Michael Kors, Jimmy Choo and Versace brands are better than the market." He raised Michael Kors' stock from "neutral" to "buy" "," is expected to reach $80 per share, about 36% higher than the current share price, and said that Versace's successful integration will allow Michael Kors Group's share price to enjoy higher valuations of typical luxury companies in the financial market. Level.
Versace recently announced that it will merge the regional brand Versus Versace series into the Versace Jeans series and phase out the Versace Collection series.
Erinn E. Murphy, an analyst at Piper Jaffray, a US investment bank, said that although Versace's sales in the Americas account for only 18% of its total sales, its 14.7 million Instagram fans indicate that it has huge room for growth in the United States. Versace currently has a sales base of $580 per fan, and Michael Kors has a sales base of only $357 per fan.
Based on the strategic plan for the future development of Versace as outlined by the Michael Kors Group:
Global sales will reach $2 billion
Increase the number of global retail stores from 200 to 300
Accelerate e-commerce and omni-channel business construction
Increased sales of accessories and footwear from 35% to 60%
Erinn E. Murphy raised Michael Kors' stock from "hold" to "buy" and expects prices to Newchic Coupon reach $71 per share.
According to Bloomberg data, Michael Kors Group's current share price is 11.4 times expected, compared to 19.2 times for Ralph Lauren Corp. and 14.7 times for Coach's parent company, Tapestry Inc.
October 24, 2018 by yucherrty
In May 2018, a century-old bag industry leader, Samsonite (01910-HK), had a sharp rise after a 21.38% drop in the share price of a Soufeel Coupons so-called "killer whale" from the rivers and lakes. Since May 24th, Samsonite's share price has not been able to return to the 34.39 Hong Kong dollar before the attack (opening on May 24). Since October, Samsonite has fallen by 18.10%. As of yesterday (22nd), it recorded the largest increase of 2.88% since the month of 25.74.
Although Samsonite responded immediately to Blue Orca Capital's short-selling report, its subsequent sales did not seem to restore confidence in the market. On October 19, Nomura lowered the Samsonite target price to 23.5 yuan. “Buy” is downgraded to “Neutral”.
Sales slowed down in the second quarter, and profits in the first half of 2018 plummeted
According to data released by Ali, as of August this year, the top ten international suitcase brands in the whole network suitcase sales are Samsonite, American Tourister and Rimowa. However, in terms of sales, Samsonite, the core brand of Samsonite, recorded the largest decline in sales of the platform in July and August compared with the same period last year, which was the largest among the three brands, namely 53.32% and 44.33% respectively; The brand's market share in Ali is only 2.07%, which is not only inferior to many domestic suitcase brands (such as Zosden, Ali's total market share is 4.33%; Kairun shares under the "90 points", Ali The market share of the market is 3.62%), and it also lags behind the international brand Rimowa (Alibaba.com's market share is 2.18%). In fact, it is not surprising that Samsonite achieved such results in the last two months of 2018. As early as the second quarter of this year, its sales growth rate has already declined.
At first glance, Samsonite’s net sales growth in the interim report was 16.6% year-on-year, although it was not as good as the same period of the previous year. However, the growth rate of operating profit was far superior, and the results were good. However, if the net sales growth rate is compared with the growth rate of 21.1% in the first quarter, it actually shows that Samson’s net sales growth in the second quarter is slowing down.
Samsonite pointed out in the China Daily that the year-on-year increase of 16.6% in net sales has actually incorporated the contribution of its eBags (channels) acquired in 2018, that is, according to Samsonite’s past three The sales contribution of the big brands (Samsonite, Tumi, American Tourister) actually increased by only 13.6%, which is equivalent to half of the growth rate of the same period last year. It can be seen that Samsonite's performance in the first half of this year was not satisfactory. In addition, the profit growth attributable to listed shareholders in the interim report in recent years has been worrying. The company explained that this year's indicator recorded a year-on-year decline of 18.7% due to the deferred financing costs ($55 million) and tax implications of the original priority credit facility. Since North America and Asia are the two major markets for Samsonite, the performance of the exchange rate issue in the report should not be underestimated.
Overall, the data on the three major indicators of net sales, operating profit and net profit have been compared with the end of 2017; in 2017, Samsonite recorded a net tax profit of 242 million due to US tax reform. As a result, the net profit of the year increased by 30.7% year-on-year, so that the income outside the operation also reflected the decline of Samsonite performance. According to the sales data released by the Alibaba platform, in the second half of 2018, if Samsonite is not in the distribution channel and advertising promotion, this year's overall performance may be "unexpected."
The proportion of multi-brand revenue increased, and channel expansion did not stop
As a well-known international luggage brand with a history of more than 100 years, Samsonite has 9 major brands, including Samsonite, Tumi, American TouristerHartmann, High Sierra, Gregory, Speck, Lipault and Kamiliant, covering suitcases, business bags, computer bags, Outdoor bags, leisure bags, travel accessories and personal electronic equipment protective shells and other product lines. According to the net sales of its brands as a percentage of total net sales, the company's core brand is Samsonite, which has accounted for more than 50% of net sales in the past three years; followed by American Tourister, averaging The proportion is about 19%, but since the completion of the acquisition of Tumi by Samsonite in August 2016, the brand has contributed a lot to the company's net sales and profit contribution. First, the income of Samsonite and American Tourister brands in recent years. The growth rate has gradually slowed down and stabilized. Second, according to the 2016 and 2017 annual reports, the strong growth in the year was mainly due to the continued success of the Tumi brand.
Since the beginning of 2011, Samsonite has begun to increase its firepower, supplementing its product categories through mergers and acquisitions, and broadening the brand matrix. Since its establishment, Samsonite has been very prominent in its expansion of the corresponding market every time it acquires a brand. For example, in 1990, Samsonite acquired American Tourister, which broadened the entry-level luggage market; in 2012, it acquired HighSiema to supplement the outdoor product system; In 2014, the company acquired the French luggage brand Lipault, which further expanded the product market. In 2014, it acquired the American professional backpack, mountaineering and cross-country running products and accessories brand Gregory to improve the layout of high-end outdoor luggage products. In the same year, the self-built product Internet brand Kamiliant, covering young and new generations; in 2016, through the acquisition of Tumi, Samsonite was able to enter the high-end luxury sector. Since the time to really enter the high-end market is relatively late, another question about Samsonite comes from this: Is Samsonite really a high-end luggage brand?
According to the price, yes; but from the product line, the high-end positioning of Samsonite is relatively vague. Among the three major series, only the patent-pending CURV series is internally manufactured, but in recent years it accounts for about 6% of total production; while the rest of the series (including soft trunks and hard trunks made of general raw materials) are outsourced. produce.
On the whole, although the growth rate of the luggage industry has shown signs of slowing down, there are still many emerging brands. For example, Kairun shares (300577-SZ)'s own brand "90 points" series. In the first half of 2017, with the help of Xiaomi Ecological Circle, Runmi Technology, a subsidiary of “90 points” brand, achieved a year-on-year growth of 101.28%, which regained the loss of 5.75 million yuan in the same period of 2016. In addition to high-quality low-cost explosive products, from smart trolley cases to smart running shoes to skin clothing, antibacterial one-piece T-shirts, "90 points" continues the idea of Xiaomi "to create the ultimate single product", cut through Xiaomi Mall The rice flour group creates multiple travel use scenarios with low drainage fees.
Compared with the "90 points" skirting method, Samsonite's channel integration is through acquisition. Considering the operating model for direct-to-consumer sales, Samsonite acquired a 100% stake in US baggage e-commerce eBags for $105 million in cash. This is another major integration of Samsonite after the acquisition of Tumi for $1.8 billion, and it has achieved good results. According to the 2018 mid-year report, Samsonite's net sales to direct consumer-oriented e-commerce increased by 74% after the acquisition of eBags. If the eBags channel is expanded, the growth of the department will be reduced to 25.7%.
Distribution expenses have increased year by year, and sales costs remain high
Wholesale and direct retail are the distribution channels of Samsonite, and the direct-to-consumer channels include physical retail and online sales of e-commerce platforms. According to the 2017 annual report, the direct consumer-oriented channel achieved 57.4% growth, mostly from the Tumi brand and the eBags channel. In recent years, Xinmei has gradually strengthened the construction of direct sales channels. The price is that the distribution expenses have soared from 666 million US dollars in 2015 to 818 million. The year-on-year growth rate of distribution expenses in 2017 has exceeded the operating profit growth rate in the same year. The spread and coverage of the channel network is pleasing, but the costs behind it and the pressure of cash flow cannot be ignored. It is also worth mentioning that as of the end of 2017, the average inventory days of Samsonite have increased.
A manufacturer of functional-oriented luggage, if you pay too much attention to the network of distribution channels and ignore whether the products launched by them are in line with the market demand, the core barriers are not enough. Even if the cake is made bigger, it is easy to be The competitors entering the market surpassed. In addition to reflecting the need for new growth in Samsonite's performance growth, the continuous mergers and acquisitions also reflect that its product competitiveness is relatively weak in the market. Blue Orca Capital's short-selling report is to guide the market to pay attention to this point. Even if Samsonite responded, the stock price was still lower. In addition to the product line of perfection, richness and trend, Samsonite still lacks its own "extreme explosion product".
This can not help but remind people of Belle International, which has recently delisted. This is the largest company in China's footwear industry. Due to its lack of design innovation and Newchic Coupon serious product homogeneity, it can only be privatized with a valuation of HK$53.1 billion. For Samsonite, the diversified brand strategy is good, but how to deal with the relationship between many brands and subdivided consumer groups to meet the rapid growth of the tourism market and the rise of the middle class will always be the challenge of Samsonite. .
September 28, 2018 by yucherrty
Carven, a French haute couture brand that filed for bankruptcy protection in May this year, is likely to face the fate of bankruptcy Soufeel Coupons liquidation because it has yet to find a suitable investor to take over and has not received funding from existing stakeholders.
Previously, Carven's potential buyer, Emmanuel Diemoz, former CEO of French luxury brand Balmain, had a plan to reorganize Carven at the Paris Trade Court, but he has now announced his withdrawal. Carbell's controlling shareholder, Hong Kong luxury and fashion brand operator Bluebell (Blue Bell Group) had previously reached a restructuring agreement with the brand, but ultimately decided to give up.
Now, the only way for Carven to avoid bankruptcy liquidation is for the buyer to submit the offer before the takeover deadline (midnight on September 28). The bankruptcy court will later extend the tender date to midnight on October 1, and reach an agreement on the proposal on October 4. The court-appointed liquidator Abitbol & Rousselet requires bidders to submit their respective information as soon as possible. It is understood that although some new potential buyers have shown interest in Carven, they have only received quotes from Paris textile and leather products wholesaler Cashtex. The company was the only company among the three bidders who were still participating in the bidding at the first hearing in July. The family led by Cashtex's controlling shareholders, Henry Levy and Daniel Levy, is the owner of the women's wear brand LM Lulu and the authorized manufacturer of Jean-Louis Scherrer handbags.
According to court documents in July, Cashtex intends to take over Carven's brand name, trademarks, licensing, patents, and rents, inventory and employee contracts totaling €500,000. Cashtex intends to restructure the brand in a streamlined and manageable way, retaining 50 jobs and adjusting 39 positions. Carven is expected to have sales of 15 million euros in the first year after the restart and 20 million euros in two years, while maintaining profitability.
Carven was founded in 1945 by Ms. Marie-Louise Carven. She has always pursued the concept of “fashion should belong to everyone” for her 50-year career and has had a profound impact on the French fashion industry. Many stars including British actor Alex Chung, German actor Diane Kruger and American supermodel Miranda Kerr are loyal fans of the brand.
In 2016, Carven's original holding company Société Béranger sold most of its shares to the Blue Bell Group. At the time, Sophie de Rougemont, a senior executive of the Blue Bell Group, was appointed CEO.
After the departure of the design director Guillaume Henry, Carven's performance has turned sharply. In 2017, sales were only 21.5 million euros and debt was 5.5 million euros. Therefore, he applied for GeekBuying Coupons bankruptcy protection at the end of May this year. Carven previously had 103 employees and the current data is unknown.