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Can The Concept Of Textile And Garment Subdivision Industry Be Favored By Capital Market?

2014/6/11 13:20:00 29

domestic < a target= "_blank" href= "//www.sjfzxm.com/" > textile < /a > a target= "_blank" href= "_blank" > clothing > Enterprise > Listing Road, which has gone through the wave of textile, men's formal dress, business casual men's wear, sportswear, youth leisure wear and women's clothing. However, a comparative analysis of the above 23 enterprises can be found that the current sprint IPO enterprises began to show some new characteristics: first, after the big industry, some leading enterprises in more subdivision industries began to seek listing; two, some strong women's clothing enterprises that were previously considered "not bad money" began to join the listing queue. 
How long can p be able to calm down when the 2 billion echelon Zhuo Ya team is enrolled? 
 has made a first report on the situation of domestic women's clothing enterprises queuing up IPO. According to the latest list, there are 4 women's clothing enterprises in 23 queuing enterprises. According to information from all sides, Taiping bird has also launched the listing process. In particular, it is noteworthy that Shenzhen's leading brand of women's clothing, IPO, has been the latest in the sprint of Xiamen, which is definitely a "blockbuster". It can even be considered that this is of index significance. 
Less than P, most of the women's clothing companies that sprint IPO, such as Vigna S, lady house, and Su Lang, although they have certain characteristics, their annual revenue is in the range of 5-10 billion yuan, and the brand strength is not very strong. It is not a leading brand in the domestic women's clothing industry. Even after being known as the "high-end women's clothing first stock", the shares of the group were less than 1 billion yuan a year, and the main business income increased by 23.39% in 2013, reaching 1 billion 379 million yuan. Although the scale of annual revenue can not fully represent the strength and profitability of a brand, it is a primary indicator of a strong brand. 
 but in fact, in Shenzhen and other industrial clusters, there are a number of "big guys" in the domestic women's clothing industry. They are recognized brands in the domestic market. Most of these women's clothing stores are direct outlets, with high-end brand positioning and prominent design style. But they are low-key and head into the market. Their sales performance is booming, and the annual sales scale exceeds 2 billion yuan. For example, Mass Phil's sales in 2013 exceeded 2 billion 500 million yuan; the 2012-2013 year revenue of Xin he shares was 2 billion 3 million yuan and 2 billion 96 million yuan respectively, with net profit of 455 million yuan and 363 million yuan respectively. 
 according to some investment institutions, these "big guys" have enough cash flow and rely on their own system to develop steadily. They are "not bad at all." their brands are the "beloved" that the major shopping malls and shopping centers are competing to introduce, and the brand owners are also "cattle people" in the industry. Some bosses are reluctant to contact investment institutions or even contact with any capital strength, let alone listing. 
 but in fact, after the successful listing of the group, the market speculated on who will be the next high-end female dresses. At that time, the industry was generally optimistic about the song. Because as early as March 25, 2009, it began to link up with capital. At that time, the global private equity "giant crocodile" Carlyle investment focused on the investment growth enterprise Carlyle Asia Growth Fund (CAGP), invested 150 million yuan to the song. Since then, Xia Guoxin, chairman of the group, has said on many occasions that he is going to go public, but he has not seen anything. 
 the "a target=" _blank "href=" //www.sjfzxm.com/ "dress" /a ", which has Zhuo Ya brand, has become a strong brand in the past few years, and has also introduced the capital strength on tall buildings. In December 2011, L Capital Asia, a privately held fund holding by LVMH group, signed the strategic investment cooperation agreement with it, becoming the second largest shareholder of Hsing ho. All two have given the market a lot of reverie. 
 in fact, in terms of investment institutions and capital, these brands are still short of money in the long run. Because foreign women's clothing enterprises, such as Prada group, have made many acquisitions and acquisitions with capital strength, and experienced rapid development before they finally became large fashion groups. At present, the brand concentration ratio of domestic high-end women's clothing market is still relatively scattered, and the strength of single brand group is still weaker than that of foreign countries. If we do not rely on the capital market, subsequent expansion will be challenged. 
 the two finally began to attack IPO, and finally broke the industry's view that these leading brands are unwilling to enter the capital market. This will undoubtedly arouse the reverie of the market once more. If one or two of them can fulfill their wishes, the competition pattern of the high-end and high-end women's clothing market will definitely change rapidly, and other competitors will be under pressure. Will this cause the shock of other women's "big guys"? So how long will the calm and calm Mass Phil and movie stars continue to calm down? 
Jordan and del Hui .
 23 enterprises, the only company that has passed is Jordan sports. In other words, when it comes to other brands, at this stage, it is almost a moment to celebrate. However, Jordan sports is depressed. 
 you must know that Jordan had been in sports, that was November 25, 2011 years ago. But since then, US basketball star MichaelJordan announced in February 2012 that Jordan sports had infringed on his right to name, so that Jordan sports originally planned to go public before the end of March 2012 has been postponed until now. 
Less than P, by May 9, 2012, the great bird, one of the competitors of the Jinjiang department, had succeeded. Since then, the IPO gate has been reopened in January. At that time, the market generally believed that after a long wait, Jordan sports and birds of honor will become the first batch of enterprises released after the IPO "gate". 
 but it turns out that only those who are released after a long wait are only birds of honor. At the end of January, you were listed as the only sporting goods company in A shares. Leaving only the dilemma of Jordan sports, he continued to feel melancholy. And whether it will eventually be listed, is still unknown. 
 > del Hui, if time goes back to five or six years ago, the gap between del Hui and XTEP, Anta and other partners is not so obvious. But since then, as Anta, XTEP, 31st, PEAK and China have been listed on the market, the gap between them and partners has been widening. Later, even the two or three tier brands of Hongxing Erke and "noble bird" have been listed. 
 for today's Dehui and Jordan sports, though the same as Jinjiang department, but as partners are listed on the market, continue to race, accelerate the channel integration and adjustment, and promote the future development of multi brand layout, if they can not be listed, even compete with their partners in the same level of competition. Even if it can be listed, it will be as embarrassed as a bird. The gap has been opened, and the market is adjusting. It is more and more difficult to catch up with peers. In any case, we can only rush ahead. 
 queuing enterprises highlight 3 sub concepts: /p >
 after the listing tide of textile, men's wear, sporting goods, youth casual wear and women's clothing, the listed companies are beginning to emerge in some more specialized subdivision industries. 
 outdoor concept -- the first hot concept is outdoor. The only outdoor product company in the A share market is the Pathfinder. When Lining, Anta's mass sports brand performance declined for 3 consecutive years, and experienced the development trough of the closing shop trend, the Pathfinder has maintained 40%-70%% growth for many years. Even in 2013, when domestic outdoor products < a href= "//www.sjfzxm.com/news/index_f.asp" > market < /a > the overall growth rate slowed down, its revenue grew by 30.74% compared to the same period last year, reaching 1 billion 445 million yuan, and net profit increased by 47.48% to 249 million yuan compared with the same period last year. The good example of the example undoubtedly gave the latecomers hope. 
 the queuing enterprise has added 1 outdoor products retail enterprises, Nanjing border town sports goods. But unlike the explorer's mode of production and marketing, the border town sports has no independent brand, but a professional agent who manages the international outdoor brand. Currently, it operates 3 famous European outdoor brands, including NORTHLAND (Austria outdoor brand), LOWA (Germany outdoor brand) and LEKI (sole brand agent of walking stick). In 2011, border town sports and LOWA Germany renewed the long-term exclusive agency agreement of LOWA brand in China, and signed the NORTHLAND brand licensing agreement with NORTHLAND Austria. By the end of 2012, there were more than 500 sports shops in border cities, with outlets all over the country's first and second tier cities, including high and medium stores and multi brand outdoor stores. From this point of view, this is a relatively characteristic enterprise. {page_break} 
P also has Jiangsu's Shenli industry, but it is not a terminal retail enterprise, but a foreign trade export fabric enterprise. Its main products are outdoor casual wear fabrics, and its core product is the fleece. The main customers of the company are the outdoor brand Columbia, the American children's clothing brand TCP, Russia's largest sporting goods retailer Sportmaster, Japan UNIQLO, and the American outdoor and garment leisure brand Dickies, which is one of the main suppliers of these international brands of fleece fabrics. In 2013, Jiangsu Shenli revenue was 998 million yuan, net profit 55 million 996 thousand and 500 yuan; in 2012, its revenue was 877 million yuan, net profit 57 million 282 thousand and 500 yuan; 2011 revenue was 724 million yuan, net profit 64 million 272 thousand and 100 yuan. 
 socks concept -- the second hottest subdivision concept is knitting, including socks and underwear. In the A share market, the concept of socks represents the shares of the company. In 2013, its revenue was 437 million 800 thousand yuan, and its net profit was 8 million 172 thousand and 900 yuan. In this queue, there are 1 Main hosiery concepts for Zhejiang Jian Sheng group. Jian Sheng group is an export company. The company mainly uses ODM and OEM mode to become service manufacturers of Okamoto, Itou Tada, Decathlon, Dao Bu, Pacific, Metro and other international manufacturers, for its production of PUMA (Puma), FILA, MIZUNO, NEW BALANCE (New brun), LEE, LOTTO, Adidas, TOMMY HILFIGER (Tommy) and other brands and rallies, MUJI products and other stores own brand hosiery products. Its core products are all kinds of cotton socks, and also produces all kinds of sports socks, such as golf socks, Ski socks, tennis socks, running socks and so on. In the past 2011-2013 years, its revenues were 397 million yuan, 445 million yuan and 558 million yuan respectively, and the net profit was 51 million 671 thousand and 600 yuan, 65 million 305 thousand and 500 yuan and 75 million 436 thousand and 500 yuan respectively, and the proportion of product export was 94.08%, 93.11% and 86.44% respectively. 
 socks industry as China has a certain advantage of subdivision knitting industry, the future "leading" enterprises still have room for growth. From the point of view of revenue scale, Zhejiang Jian Sheng has already outperformed the company, especially in recent years. But compared with many famous and market share brands in China, such as La Sha, Zhejiang Meng Na, Haining Nile, Zhejiang and so on, the export oriented Zhejiang Jian Sheng has a limited reputation in the domestic market. Moreover, from the past few years, foreign trade oriented enterprises will have a very low probability. I wonder if Zhejiang's health can achieve any unexpected results. 
 underwear concept -- domestic underwear enterprises (including traditional underwear and bra enterprises) are numerous, but generally speaking, the size of single enterprises is smaller than that of large loading enterprises. A shares market does not have a listed company with the concept of underwear. The concept of underwear is the Hong Kong Equity listed company, Li Fang. 
 there are 1 underwear enterprises in Jiangsu's AB group. But unlike AB's group of bra products, the group is a traditional lingerie group that combines weaving, dyeing and garments. The company has its own underwear brand AB, A&B and T6. Its products mainly include more than 20 functional underwear, pure cotton mercerized underwear, pure cotton mercerized vest, cotton Lycra underwear, thermal underwear, Model household casual wear and children's underwear. The market share is about 9% in the domestic traditional underwear market. 
 however, compared with the traditional concept of underwear, the current capital market is more concerned with the concept of underwear based on women's bra. According to the reporter, some investment institutions actively track and contact the leading brassiere brands in China. In the eyes of these investment institutions, the bra industry is a high growth industry worthy of investment after the high-end women's clothing industry. 
Data can also be verified by . In 2013, the shares of Hong Kong stock, an Li Fang, were HK $2 billion 235 million, an increase of 12% over the same period last year. This is already the 7 consecutive year of double-digit turnover since the launch of the company, and its net profit is HK $198 million, an increase of 8.07% over the same period last year. By the end of 2013, there were 2272 terminal outlets, of which 2082 and 190 were the number of counters and stores, of which the number of retail outlets increased by 151 in 2013. 
 but similar to the high-end women's clothing industry, the market share of several well-known brands in the bra industry, such as Ordifen and Adam, has increased year by year. The cash flow of enterprises is better, and the development trend of relying on their own funds is good. At present, there is no listing intention. 
 piglet ban IPO is broken down, and the child business game is "big guys" under pressure. /p >
 on the domestic clothing market, children's clothing is also recognized as a new growth point besides underwear and outdoor two pieces of "blue ocean". Especially after the liberalization of the national two child policy, children's clothing market is also given new opportunities. Of course, children's clothing enterprises are eager to seize the new market opportunity and establish a leading position. 
Less than P, there are 1 professional children's clothing enterprises in Guangdong. They also have 1 children's and children's clothing companies. At the same time, two children's products companies sprint IPO, which has never happened before. Unfortunately, in May 12th, piglet was terminated. Statistics show that there are 3 children's clothing brands of pig pig, Peng library, and ER Er Ma, and there are more than 2000 chain stores. 
Compared with P, blonde Rabbi is more competitive and has more competitive advantages. The company owns 3 private brands, including Rabbi, the next generation, and babby rabbi. The main products include infant clothing, cotton (clothing, clothing, household goods), infant and daily necessities (bedding, feeding, bathroom, toiletries) and maternal products. Among them, Rabbi is located in the middle and high grade, the whole product line is covered; the next generation is located in the mid-range, and the products are mainly clothing and cotton products. 
 according to the survey of Frost & Sullivan, only the enterprises of Li Ying Fang, Kai man Dongling (main brands "yellow duckling"), blonde Rabbi, good children and so on have realized the coverage of the whole product line of infant clothing, cotton products and daily necessities, of which only the golden hair rabbis are wholly owned by the mainland. In 2011~2013, the revenue of blonde rabbi was 256 million yuan, 333 million yuan and 380 million yuan respectively, with net profit of 49 million 200 thousand yuan, 69 million 20 thousand yuan and 87 million 370 thousand yuan respectively. By the end of 2013, its sales outlets were 1005. 
Less than P, we can see that only 1 of the companies that are related to the concept of children's products may be able to bring hope to them. 
 but overall, children's clothing market is under great pressure. The important reason is that a number of leading listed companies have crossed the border to enter the field of children's wear, and continue to invest more in order to bring high returns. The competition in children's wear market is becoming more and more intense. The competition pressure of professional children's wear enterprises is becoming more and more serious, and the difficulty of listing is increasing. 
 the biggest beneficiary of children's clothing is Semir shares. The vast majority of children's clothing enterprises were originally small in size and strong in regional brands. But in recent years, Semir's Barbara has grown rapidly to become the first known brand in the domestic children's clothing industry. At the same time, Semir also continued to overweight children's clothing market. In 2013, it announced the agency of Italy's high-end children's clothing brand Sarabanda and Minibanda, with multi brand layout and multi-layer children's clothing market. According to its spanformation plan, it will continue to increase investment in children's clothing in the future. In 2013, Semir's children's clothing business achieved a revenue of 2 billion 535 million yuan, an increase of 19.9% over the same period last year, and balbala's 3471 stores nationwide. The business scale of more than 2 billion 500 million yuan can be equal to the total annual sales of several or even a dozen or so small and medium-sized children's clothing enterprises. 
 in addition, a number of listed companies such as Mei Bang dress, seven wolves, Lining, 31st degree, Anta, XTEP and so on have all entered the market of children's wear, and they all have a good growth. For example, in 2010, the sales of children's wear products increased by 97.7% in 2012, reaching 370 million yuan, accounting for 7.5% of the group's total turnover. In 2013, its sales continued to grow 13.6% to 450 million yuan, the proportion of total sales increased to 11.7%, and the number of retail outlets increased from 1590 to 1858. In 2013, the revenue of other businesses including XTEP children and XTOP product range was about 162 million 800 thousand yuan, a significant increase of 114.9% compared with 75 million 800 thousand yuan in 2012, becoming a new growth point for the group and an increase of 150 sales outlets for children's products. 
 it can be found that the leading listed companies, with the comprehensive advantages of the famous brand, extensive retail outlets, capital strength and talent attractiveness, will soon become more powerful if they enter the a href= "//www.sjfzxm.com/news/index_f.asp" > children's wear "/a" market. In a few years, the sales volume has increased exponentially, reaching hundreds of millions of yuan or even hundreds of millions of yuan. This expansion rate is far from the professional children's clothing enterprises can compare. The fact that we have to admit is that when the "big guys" are playing with children's clothing, the development space of children's clothing enterprises will be squeezed quickly. And this time, the IPO of pig pig's death has undoubtedly cast a shadow over the situation which is not optimistic.