Home Textile Giants Are In Trouble, And Small And Medium-Sized Enterprises Are Hard To Escape.

< p > "it is time for home textile enterprises to slow down, and think about the problems that have been realized in the extensive expansion process but have not been solved."

Yu Yuenan bluntly said.

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< p > Mr. Wang, head of a textile enterprise in Shanghai, has been a bit busy recently. His brand is in the fourth big promotion this year. "The first three times are not good, so we can see whether we can make money this year."

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< p > over the past three years witnessed the promotion frequency of enterprises from one year to four or even five times a year. With emotion, Mr. Wang told us: "the time that the home textile industry can earn money has passed. Now we do not do" big promotion "and so on, and do" big promotion "to find death. In addition, we still have to die three or four times a year to earn money.

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Less than P, the small and medium enterprises such as Mr. Wang, the home textile giant 002293.SZ has always insisted on only one promotion a year. But in recent years, many problems such as the slowdown in the industry, the terminal sales slump, the Ku Cungao enterprise and so on, have increased the promotion time to 2~3 times a year.

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< p > in addition, the third quarter report of Luo Lai home textile showed that the company's quarterly revenue and net profit decreased by 20.54% and 16.22% respectively, and the net profit decreased by two times in 2013.

In 2013 1~9, the revenue of Luo Lai home textile was 1 billion 723 million yuan, and net profit was 237 million yuan, down 6.77% and 6.3%, respectively. It has become the only one of the three largest home textile listed companies in the third quarter.

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< p > what is the problem of Roley's home textile? < /p >

< p > ten golden period < /p >.

Like P and < a href= "//www.sjfzxm.com/" target= "_blank" > textile < /a > a href= "//www.sjfzxm.com/" target= "//www.sjfzxm.com/" > clothing other than the other sub categories in the industry, the home textile industry has also experienced nearly ten years of "yellow gold period".

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< p > 2003 was recognized as the "China household textile industry year" by the China Textile Industry Association.

Since the beginning of this year, the home textile industry with original accumulation in product scale and capital has started blowout growth under the impetus of policy.

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< p > statistics show that the total output value of domestic textile industry reached 545 billion yuan in 2005, an increase of 21.65% over the same period last year.

By the end of the 11th Five-Year development plan, in 2010, this figure has soared to 1 trillion and 150 billion yuan, an increase of 111.01% over 2005 and an average annual growth rate of 16.11% in 5 years.

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< p > 2011 can be said to be the "prosperous year" of the home textile industry.

In the same year, the China Home Textile Association announced the outline of the 12th Five-Year development plan for China's home textiles industry, and defined 2011~2015 as a critical period for the home textile industry to grow from strength to strength.

At that time, 1548 home textile enterprises above Designated Size reached 209 billion 765 million yuan in total industrial output value, an increase of 23.09% over the same period, and the production and marketing rate reached 97.97%.

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The development track of "P" several home textile enterprises almost overlaps with this.

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< p > take Luo Lai home textile as an example. Its revenue has gone from 552 million yuan in 2006 to 1 billion yuan in 2009 to 1 billion 145 million yuan, and then to 2 billion 382 million yuan in 2011. In recent years, it has experienced a continuous "multistage jump", and its net profit also jumped from 49 million 250 thousand yuan in 2006 to 374 million yuan in 2011.

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At the same time, Luo Lai home textile launched the "1000 City store" plan, which aims to build about 1 000 chain stores in about 1000 cities.

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< p > by the end of 2006, there were 1043 sales outlets in the whole country. At the end of 2011, this figure increased to 2371, and the sales terminal increased by 1328 in five years, with a growth rate of 127.3%.

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Less than P, the development of home textile industry has been developing vigorously. It has gone beyond the garment textile textiles at one go, becoming the leader of the three major sub categories of textile industry (household textiles, textile and textiles for textile and industrial textiles).

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Less than P, but what is unexpected is that the industry crisis suddenly struck, and there was a "mountain like" posture.

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< p > high storage pressure < /p >

< p > in the first half of 2012, the total industrial output value of 1802 large-scale home textile enterprises increased to 14.5%, and in 2013 1~5, this figure dropped to 9.7%.

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< p > industry giants first felt the chill.

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< p > 2012 1~6 months, after the listing performance growth rate almost no less than 40% of the decline in net profit for the first time.

Almost at the same time, 002397.SZ has also been singing all over the market since the end of the listing, and the indicators such as revenue and net profit have slowed down sharply and are now down.

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< p > high speed expansion is a serious contradiction between supply and demand, resulting in high inventory.

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< p > the inventory of Roley's home textiles has been rising steadily since the middle of 2011.

As of the third quarter of 2013, the inventory of domestic textiles rose from 2011 yuan in the middle of 2011 to 666 million yuan, accounting for 27% of the total assets.

The seasonal inventory of 002327.SZ and its 585 million were 580 million yuan respectively.

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< p > one side is high inventory, the other is the downturn of the new order.

In 2013 spring and summer orders, the order growth rate of the home textile company rose from over 20% to basically flat. In those days, orders for autumn and winter would even decline, until the recent spring and summer order in 2014 would be better.

Roley home textile related personnel confirmed to this newspaper, Roley home textile 2014 spring and summer new products ordering will achieve a low double-digit growth compared to the same period last year.

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< p > however, many industry sources told this newspaper that the reason for this is that the performance of the order last year was rather poor. "Luo Lai home textile did not even publish relevant data in the same period last year. It is too early to talk about warming up."

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< p > home textile giant is in trouble, and small and medium-sized enterprises are hard to escape.

A home textile brand dealer in Nantong, Jiangsu told reporters that this year's sales fell by more than 30% over the same period last year, but at the same time production costs are still rising. "Store rents doubled compared with 2008, and labor costs also rose. Before a worker was 2000 yuan a month, it was basically 3500~4000 yuan, so it can't be done again."

The brand said.

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Yu Yuenan, vice president of the China Textile Business Association, feels very deeply about this. When he visited Nantong home textile city this year, he felt the "China's largest home textile industry base" unprecedented low.

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"P >" before, everyone has a high morale, but this year, no matter big companies or small and medium-sized enterprises, they are generally unable to lift their spirits.

The rapid development of the past few years has obscure many problems, and these problems will emerge once the overall economy or market is weak.

Yu Yuenan told reporters.

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< p > "it is time for home textile enterprises to slow down, and think about the problems that have been realized in the extensive expansion process but have not been solved."

Yu Yuenan bluntly said.

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< p > the dilemma of electronic commerce < /p >

< p > Roley home textiles is the first time that several home textile enterprises begin to test the water business.

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At the time of "P", the online rampaging of lore home textiles has already affected the reputation of the company. Luo Lai home textile decided to independently register the brand of "LOVO" (Luo Fu), which was officially launched in March 1, 2009.

LOVO products are located in 25~35 year old, high price sensitive consumer groups.

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< p > 2010, Luo Lai home textile also set up another self operated e-commerce brand "Luo Lai mall", positioning the high-end brand with LOVO, selling the main brand Luo Lai and other agent brand products.

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< p > in addition, Luo Lai home textile also works with the third party platform, and has opened flagship stores on the main domestic e-commerce platforms such as Tmall, Jingdong and Dangdang.

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< p > however, unlike LOVO's pure online brand and product specific network, Luo Lai mall and the third party flagship store are self owned, but the products sold are similar to those of offline brands, and the prices are often lower.

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< p > it is worth mentioning that in the three major home textile enterprises, the proportion of the franchisees of the Luo Lai textile company is the highest, and has formed its own unique channel system.

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< p > Roley home textiles is a compound chain operation mode that combines franchise chain with direct chain store.

According to its prospectus, as of June 30, 2009, the home textile industry in the country opened up 600 franchisees in the franchise chain mode, and established 1492 sales outlets, while only 231 outlets.

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< p > the huge dealer system helped Roley's home textiles rapidly gain ground and become the industry leader in just a few years. But in recent years, both the economic and industry growth slowed down. This slightly extensive system turned into a heavy burden on Roley's home textile.

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A dealer in Shanghai, a large textile enterprise, told reporters that although the gross profit margin of the home textile industry exceeded 40%, the net profit margin was also 16%~17%, but the net interest rate of the dealer had been squeezed to 7%~8% under the situation of sales decline, rent and labor costs rising.

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< p > "before dealers were" one year deficit, two years flat, three profit ", now is" one or two years deficit, three years flat, four years profit, five year profit ".

Now the home textile industry has such a strong brand influence. It is not difficult to invite merchants, but it is difficult to sell the goods. Many dealers lose their support for a year or two.

In this case, if we go to the line to sell products at a low price, we will definitely not survive. "

The dealer said.

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< p >, but for the home textiles of Luo Lai, facing the strong pressure of stock top down, the electricity supplier is undoubtedly an inevitable choice to clean up inventory and increase revenue.

In 2011, the total sales volume of e-commerce in the home textile industry was 112 million yuan, while in 2012 it increased to about 200 million yuan.

In 2012, during the "double eleven" period, the sales of Tmall home textiles exceeded 90 million yuan, ranking first in home textiles.

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< p > however, as a senior industry personage said, if we do not straighten out the relationship between online sales and offline dealers, "the better the online sales, the greater the conflict between franchisees."

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< p > at the beginning of this year, the home textile industry of Luo Lai announced formally integrating two B2C electric business websites, and the official store of Luo Lai home textile stopped its operation and merged into LOVO mall, and the latter's commodity range will also be extended to various brands of the home textiles of Luo Lai.

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At the same time, its main brand Luo Lai began to explore the strategy of online and offline sharing the same price, and the O2O mode of "offline experience + online sales" also entered the company's vision.

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< p > Zhu Qinghua, a light industry researcher at CIC, said that these new attempts will help stimulate the confidence of franchisees. However, the company still needs further coordination and adjustment of its affiliates and direct channels to ease the conflict between e-commerce and franchisees.

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< p > "do not do business", busy financing < /p >.

< p > in the case of slowing industry and declining performance, Luo Lai home textile chose to invest huge sums of money in financial products.

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< p > reporter statistics found that since October 2012, Luo Lai home textile has used its own funds 16 times to buy financial products.

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< p > October 2012, Luo Lai home textile invested 50 million yuan to the Xiamen international bank to purchase a financial product with an annual revenue of 5%, with a period of 71 days.

Only a month later, Luo Lai home textile announced that it invested 30 million yuan and 50 million yuan in the purchase of financial products to the Bank of China branch of Nantong economic and Technological Development Zone and Jiangsu branch of Shanghai bank respectively.

In December of that year, Luo Lai home textile also purchased a guaranteed floating income bank financial product to Xiamen International Bank Shanghai branch, which cost 50 million yuan.

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When p entered 2013, the frequency of investment and financing of the home textile industry rose sharply.

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< p > according to statistics, from January 2013 to May, Luo Lai home textile invested 5 times to Xiamen International Bank Shanghai branch to purchase financial products, with a total value of 250 million yuan.

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< p > besides, Luo Lai home textile (Tianjin) Co., Ltd., a wholly owned subsidiary of Luo Lai home textile company, has purchased a total of 450 million yuan of financial products in 7 purchases.

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< p > the most recent purchase of financial products by Roley home textiles was in October 14th. The total amount of money purchased by Roley home textiles and its holding subsidiaries in the past 12 months has totaled 180 million yuan, accounting for 9.51% of the latest audited net assets of the joint stock company, which is close to the upper limit of 200 million Yuan approved by the board of directors.

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< p > Zhu Qinghua said that Luo Lai home textile is keen on investing and managing money. It is not a case in point. Under the influence of the sluggish macroeconomic environment, the profit growth space of home textile companies is limited.

"If the company uses capital to expand production and the rate of return on investment will be more pessimistic, many enterprises will use their spare cash to manage their finances and realize the value of assets."

Zhu Qinghua said.

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< p > but the industry pointed out that too frequent investment and financing is not beneficial to the main business of the company. In the case of ensuring the interests of shareholders, home textile enterprises should invest their funds in R & D design, enhance internal management, and strengthen upstream and downstream construction.

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