Ke Eli Till Will Become Shenzhen'S First High-End High-End Women'S Clothing Listed Company.

< p > the domestic women's wear market is really interesting.

As one of the leading enterprises in the Shenzhen women's clothing industry, Chen Lingmei, who has advocated the concept of "a target=" _blank "href=" //www.sjfzxm.com/ ">" dress less than /a ", has not yet seen any listing of the winners. Chen Lingmei's son, Kim Lai Ming, is the first woman to be listed on the HKEx.

< /p >

In June 17th P, the company launched the global sale of the Ke Eli Till group, offering 125 million shares, including 12 million 500 thousand public offerings in Hongkong and 112 million 500 thousand shares in the international market.

The issuing price is HK $3.05~4.51 per share.

If the issuing price is HK $3.78 per share, the net proceeds will be HK $425 million 300 thousand.

It is expected to be listed on June 27th.

< /p >

< p > according to the prospectus, HK $212 million 600 thousand of the proceeds will be used to open up new a href= "//www.sjfzxm.com/" > retail shop < /a >, accounting for 50% of the total fund raised; HK $85 million 50 thousand for the development of new brands, accounting for 20%; HK $42 million 530 thousand for further development of e-commerce business, accounting for 10%; HK $42 million 530 thousand for the promotion and marketing of Ke Eli Till (Koradior) brand, 10%; 21 million 260 thousand Hong Kong dollars for upgrading ERP system, accounting for 5%; and the remaining 5% funds for working capital and general corporate purposes.

< /p >

< p > it can be said that compared with Chen Lingmei's winning clothing, as well as Mass Phil, glee, and other international counterparts, Ke Eli Till, who only started 7 years ago in 2007, is indeed a new star in Shenzhen women's wear industry.

But this new talent has become the first "crabs" to visit the capital market in Shenzhen women's clothing enterprises.

< /p >

< p > speaking of Ke Eli Till group, we have to mention the previous Shenzhen nears Clothing Co., Ltd.

In May 2007, Shenzhen nears dress was renamed Shenzhen Ke Eli Till, the Affiliated Companies of the group.

When Ke Eli Till was founded in Shenzhen, he was owned by Ke Eli Till, the chief executive officer, chairman and executive director of the group, Chen Lingmei and Jin Jingquan, 71.20% and 28.80% respectively.

< /p >

< p > March 2007, Jinming bought Ke Eli Till and Ke Eli Till 53.20% and 20.80% stake in Shenzhen, respectively, from Chen Lingmei and Jin Jingquan.

After the acquisition, Jin Ming, Chen Lingmei and Jin Jingquan hold 74%, 18% and 8% stake in Shenzhen, respectively.

In those days, Kim Ming and He Hongmei, the managing director and executive director of the group, founded Koradior brand.

In July 2011, Chen Lingmei pferred his 18% stake to Jin Ming's brother Jin Rui.

In December 2011, Jinming, Jin Jingquan and Jinrui pferred all the shares of Shenzhen Ke Eli Till to Shenzhen Jinxin and completed the reorganization of the company.

Before restructuring, Shenzhen Ke Eli Till has been a wholly-owned Affiliated Companies in Shenzhen Jin He Xin.

< /p >

After P, Koradior Investments became the sole shareholder of Ke Eli Till group.

Kingstun Holdings holds the full issued share capital of Koradior Investments, while Kingstun Holdings has all issued share capital held by Fiona Trust, and Fiona Trust is established by Kim Ming.

After the global sale is completed, Koradior Investments will hold about 65.25% of the issued share capital, and Kim Ming is the controlling shareholder.

< /p >

< p > at present, the largest OEM manufacturer of women's clothing products of the corltier group is Shenzhen's winner clothing.

Chen Lingmei, Jin Jingquan and Jin Rui hold 53%, 29% and 18% of the winners' clothing, respectively.

Meanwhile, Ke Eli Till rented a warehouse for the winner's clothing.

< /p >

In P > 2011~2013, the processing expenses (including VAT) paid by the cordial group to the winners' clothing were about 12 million 720 thousand yuan, 27 million 750 thousand yuan and 40 million 940 thousand yuan respectively, accounting for 15.50%, 21.41% and 23.97% of the total outsourcing and outgoing expenses of the outsourcing products of the group during the same period.

< /p >

< p >, therefore, after the release of the company, Shenzhen winner clothing will become its related party.

< /p >

< p > the main brand of Ke Eli Till group is Koradior (Ke Eli Till), which is a high-end fashion and metropolitan minimalist style. Its main target customers are 30~45 year old women with economic strength.

< /p >

< p > September 2012, the group launched the La Koradior brand.

La Koradior is more luxurious. It is located in high-end formal women's clothing. Most La Koradior products mainly use imported fabrics, and use brand crystal as accessories.

< /p >

At present, there are 61 members in the Group R & D design team, and Luigi Fabio Piras and "China top ten a target=" _blank "href=" //www.sjfzxm.com/ "designer" /a "P are the design consultants.

In 2011~2013, the total number of SKU launched by Koradior and La Koradior brands was 1122, 1456 and 2060 respectively.

< /p >

< p > prospectus data show that in 2011, the sales revenue of the group was 327 million yuan (the same below), of which direct retail outlets earned 317 million 300 thousand yuan, gross profit was 207 million 800 thousand yuan, net profit was 19 million 442 thousand yuan, gross margin was 63.54%, and net interest rate was 5.94%.

< /p >

< p > 2012, its sales revenue was 485 million yuan, an increase of 48.32% over the same period last year, of which the revenue of direct retail outlets was 433 million 500 thousand yuan, an increase of 36.62% compared with the same period last year; gross profit was 304 million 500 thousand yuan, an increase of 46.54% over the same period last year; net profit was 27 million 812 thousand yuan, an increase of 43.05% over the same period last year; the gross profit rate was 62.79%, and the net interest rate was 5.74%.

In 2013, its sales revenue was 701 million 900 thousand yuan, an increase of 44.72% over the same period last year, of which the revenue of direct retail outlets was 648 million 700 thousand yuan, an increase of 49.64% compared with the same period last year. Gross profit was 486 million 400 thousand yuan, an increase of 59.74% over the same period last year. Net profit was 80 million 112 thousand yuan, up 188% over the same period last year, with a gross margin of 69.30% and a net interest rate of 11.41%.

{page_break} < /p >

In P > 2011~2013, the sales revenue of its main brand Koradior was about 327 million yuan, 478 million yuan and 670 million 400 thousand yuan respectively, accounting for 100%, 98.52% and 95.51% of the group's total sales respectively.

< /p >

< p > in the first quarter of 2014, the group's revenue was 223 million 430 thousand yuan (Unaudited), an increase of 53.55% over the same period last year.

Revenue growth comes from the average selling price and sales volume of products.

Its gross margin is about 72.79%, a slight increase from 71.67% in the same period last year.

< /p >

< p > 2013, the sales volume of its outlets was 438 thousand, the overall average selling price was 1480 yuan, and the overall average tag price was 2309 yuan.

Among them, the average price of the winter clothing is 3579 yuan, the average selling price is 2295 yuan, the average price of the summer clothing is 1708 yuan, and the average selling price is 1095 yuan.

The sales volume of the electronic business platform is 62 thousand, the average selling price is 504 yuan.

< /p >

In P, the total number of retail outlets in 2011~2013 was 119, 177 and 254, respectively. There were 102, 150 and 205 retail outlets in department stores, 7, 11 and 26 in the shopping center, respectively, with 10, 15 and 10 stores.

Its main outlets are mainly located in the retail lots of the second tier cities, and the distributor shops are mainly located in three or four line cities, such as Urumqi, Ankang, Panjin and Zhangjiakou.

< /p >

< p > starting from 2012, the company started to set up direct stores, which opened 1 in the year and increased to 6 at the end of 2013.

< /p >

< p > in the end of 2013, 254 of the total stores, 213 were Koradior brand retail stores, 9 were La Koradior retail stores, the remaining 32 were double brand retail outlets, and Koradior and La Koradior were also sold in the store.

Of the 6 special stores, 5 sold Koradior brands and 1 were double brand stores.

< /p >

In the first quarter of 2014, P opened 19 direct retail outlets, adding 3 distribution stores and closing 2 inefficient outlets.

At the end of the year, there were 254 direct retail outlets and 20 dealer stores, and the number of VIP members was 34021.

< /p >

< p > according to independent market research company frost Sullivan data, with the 2013 retail income, Ke Eli Till is one of the leading and fast-growing enterprises in China's high-end women's clothing enterprises, ranking sixth in China's high-end women's wear market.

In 2011~2013, it occupied 0.72%, 0.87% and 0.98% of the high-end women's clothing market in China.

< /p >

< p > however, the rapid expansion of income and scale has also brought about rapid growth of inventory.

< /p >

In P > 2011~2013, the annual inventory provision of the group was 320 thousand yuan, 780 thousand yuan and 300 thousand yuan respectively, and the stock amount was 37 million 500 thousand yuan, 73 million 450 thousand yuan and 130 million yuan respectively, accounting for 33.93%, 41.95% and 40.16% of the total value of liquid assets respectively. The turnover days of the company were 94.57 days, 112.21 days and 112.21 days respectively.

Ke Eli Till group said that the increase in inventory turnover was mainly due to the continued expansion of the retail store network and the production of additional manufactured products for the purpose of planning new brands in the second half of 2014.

< /p >

< p > accelerating the opening of Direct stores is the main investment, and the new brand will be promoted in the second half of the year. < /p >

< p > consolidating and expanding sales network and channel is the next step for Ke Eli Till group to bear the brunt of.

< /p >

< p > according to the prospectus, Ke Eli Till group's main purpose of raising funds after listing is to accelerate expansion and set up a new direct retail store, which accounts for 50% of the total fund raised.

< /p >

According to the plan, next, in a second tier city with potential growth potential, the company will continue to expand its sales network mainly through direct retail outlets, mainly to those shopping centers that can enhance brand awareness. P

< /p >

< p > Ke Eli Till Group believes that the number of large department stores and shopping centers in the second tier cities in China is increasing rapidly, which is a great opportunity for the group to expand its retail network.

At the same time, it will continue to expand its market in the prime locations of three or four tier cities such as Jiujiang, Wenzhou, Yantai and Weihai.

< /p >

< p > according to the plan, 37 new outlets will be opened in the second half of 2014, and 75 new outlets will be opened before the end of 2015.

< /p >

Besides, P will continue to expand the business of e-commerce.

< /p >

< p > prospectus data show that in 2011~2013, sales of the three party e-commerce platform such as Tmall mall, Dangdang, vip.com and Wangfujing online mall increased from 2 million 850 thousand yuan to 31 million 380 thousand yuan, with a compound annual growth rate of 231.68%.

< /p >

< p > because the initial taste of sweetness, the company believes that the e-commerce platform sales potential is huge, will further expand the business of e-commerce, will increase the resources of Tmall store flagship store, and launch products on more third party e-commerce platform.

< /p >

Besides, P will also set up a design team to specializes in the unique products of the electronic business platform. Some of its products will be improved by the best selling products of the stores.

< /p >

< p > developing new brand is the second important development direction.

According to the prospectus, the amount of investment planned to develop new brand accounts for 20% of the total amount raised.

< /p >

< p > according to the strategic planning, "multi brand strategy" will be one of the important strategies pursued by Ke Eli Till group, through different brands of different positioning to meet the dress requirements of women of the same age level in different occasions.

< /p >

< p > on the basis of the existing two brands, the new brand Koradior elsewhere designed by the group and I.S. Planning of Korea design company is expected to be launched in the second half of 2014.

The brand style is positioned in a leisurely, modern and elegant manner.

< /p >

< p > Korea Companies I.S. Planning was founded in 2006, and has helped build a number of Korean women's clothing brands.

At present, I.S. Planning provides brand building and promotion services to several Chinese and international brands.

< /p >

< p > according to the bilateral agreement signed with I.S. Planning, I.S. Planning will cooperate with Ke Eli Till group to design and develop products, and provide planning design and related services for the next autumn, winter and spring summer series products of Koradior elsewhere brand. The first phase will be one year's cooperation.

< /p >

The P > Ke Eli Till group said it believes that the new brand will provide a new product line for target customers, which are complementary to the existing Koradior and La Koradior brands.

Through the development of new brands, further promotion of Koradior brand and promotion of sales growth.

< /p >

Besides, P also plans a strategic acquisition of women's clothing brands. "Priority will be given to acquiring brands that complement our existing brands without losing their unique style."

However, there is no clear takeover target.

< /p >

At the same time, the distribution rights of high-end women's clothing brands with potential development in China can be obtained by proxy P, so as to further develop brand combinations.

< /p >