At this stage, China has gradually changed from "world factory", "Made in China" to "Chinese design", and has always insisted on originality, and is good at interpreting brand style local designer women's brand day with colors, patterns, and styles. Broadcasting has been listed on the Shanghai Stock Exchange since May 31, and it has received wide attention from the industry: even if high stocks are entangled in the market, it is not afraid to be listed and plans to speed up the opening of first- and second-tier cities.
Stable performance but high inventory threats
On August 22, Nippon Broadcasting Group Co., Ltd. (hereinafter referred to as "Japan Broadcasting Fashion, stock code: 603196" released the 2017 semi-annual report. The report shows that in the first half of 2017, the daily sales of the company reached 460 million yuan, a year-on-year increase. 13.99%, net profit of 25.24 million yuan, an increase of 32.20%.
Japanese Broadcasting said that the increase in profits in the first half of this year was mainly due to the steady growth of market channels. In the first quarter of 2017, the daily broadcast fashion achieved 237 million yuan, an increase of 3.83% year-on-year, and the operating profit reached 15.70 million yuan, an increase of 17.16%; in 2016, the daily broadcast fashion realized revenue of 949 million yuan and net profit of 77.752 million yuan; In 2015, it achieved revenue of 890 million yuan and net profit of 75.216 million yuan. In 2014, it achieved revenue of 911 million yuan and net profit of 84.370 million yuan. Japanese Broadcasting said that its profitability is relatively strong, and its operating income has remained stable in the past three years.
It is worth noting that during the end of 2014-the last three years of 2016, the inventory balance showed an upward trend year by year. The inventory balances at the end of 2014, the end of 2015 and the end of 2016 were 229 million yuan, 256 million yuan and 259 million yuan respectively.
For the high inventory problem, Nippon Broadcasting announced that it has started to apply the VMI supply mode since 2014, adopting the “small batch, multi-batch†supply mode to improve its fast supply capacity to control the inventory quantity, but to read through its calendar year. In the financial report, it is not difficult to find that the inventory quantity of the Japanese fashion has not been effectively controlled for at least three consecutive years.
Can the store solve the quality problem?
The Japanese-style fashion is not only plagued by high inventory problems, but the quality of the products frequently causes the industry to sigh and sigh. According to public information, in the past three years, Japanese fashion has been administratively punished for three times due to product quality problems. It has been repeatedly investigated and notified by relevant regulatory authorities, and 13 products have failed sampling.
In 2010-2016, the total retail sales of consumer goods in China increased from 588.7 billion yuan to 1,443.3 billion yuan, a compound growth rate of 16.16%; the growth rate dropped from 35.43% in 2011 to 7.04% in 2016.
After a period of rapid development, the current apparel industry has also experienced overcapacity problems. Many apparel companies have accumulated more inventory, faced with greater destocking pressure, and began to close down poorly performing stores. In the first half of 2017, the number of stores in the first half of 2017 increased by 50, and the total number of stores in the first half of 2016 was a net decrease of 37.
It is right to close a store with weak profitability and weak competitiveness. However, if the quality of the product is not in the first place, even if the original works with sufficient design sense are difficult to satisfy the more rational consumers for a long time, in the long run, it is very likely that the sales will not give force or even Gradually eliminated by the market.
"br oadcast: broadcast" has always been awesome
According to the China Garment Network, the founders are all designers of the Japanese fashion, currently operating three brands of "broadcast: broadcast", "PERS ONAL POINT" and "CRZ", of which "broadcast: broadcast" brand has more than 10 The operating history of the year has grown into a women's own brand with stable consumer groups, distinctive style and good sales performance, and has a high brand awareness in the domestic women's wear market.
In the first half of 2017, the daily broadcast brand “broadcast: broadcast†brand achieved revenue of 360 million yuan, an increase of 14.13% compared with the same period of last year; in 2016, “broadcast: broadcast†brand sales revenue reached 751 million yuan, slightly higher than The average level of listed companies in the women's wear industry was 739 million yuan; in 2014-2016, the main brand “broadcast: broadcast†accounted for 80.54% of the main business income of the Japanese fashion.
Offline channel revenue is more eye-catching
In order to enhance the breadth and depth of marketing outlets, and further enhance the brand image and influence, thereby enhancing profitability, the overall number of stores in the first half of 2017 increased by 24 to 910 in the first half of 2017.
At present, the offline broadcast marketing network has covered 30 provinces, autonomous regions and municipalities across the country. As of June 30, 2017, it has established a total of 910 sales terminal stores, using direct sales, joint sales and distribution sales models. In the first half of this year, the daily sales channels of Japan Broadcasting Fashion achieved a revenue of 407 million yuan.
According to Japan Broadcast Fashion, it will speed up its development by speeding up the opening of first- and second-tier cities' direct-operated stores, improving the control of channel terminals, and improving the supply chain management level. In the next three years, 209 new direct-operated stores will be established.
Lizhicheng multi-brand fashion operation management group
In order to improve the existing research and development conditions, the introduction of high-end design talents to create conditions, the Japanese broadcast fashion to build R & D centers and research and development laboratories: independent of the various brand divisions, mainly for new technology, new fabrics, new version of innovative research and development, the first half of 2017 The daily broadcast fashion increased by 2.262 million yuan in the same period of research and development expenses.
In the next three years, Nippon Broadcasting will strengthen its design and R&D investment, further promote brand building, and follow the brand development consisting of keywords such as “internationalization, new generation, and breaking marginsâ€.
Nippon Broadcasting Co., Ltd. said that it will continue to follow the business philosophy of “design-orientedâ€, create a new supply chain management model and an omni-channel retail network, and form a fashion product service system with consumer value experience as the core, and become a domestic A multi-brand fashion operation management group with an important position and strong competitiveness and brand influence in the international market.
Original quality also has to pass the quality
Inventory is a difficult problem for many clothing companies. The Japanese fashion is not only threatened by high inventory, but also has doubts about product quality. In the first half of 2017, Japanese-style fashion promoted consumption in the spring and summer of 2017, and the price of dresses was greatly reduced.
According to industry experts, the domestic retail sales of clothing will reach 2.1 trillion yuan in 2018, equivalent to 1.56 times of the total retail sales of social consumer goods in China in 2015. The new round of competition in the women's wear industry has already begun. Can the Japanese-style fashion cross the inventory barrier, whether the product can be both original and not on the quality black list, and what kind of gains and breakthroughs will be realized in terms of revenue and net profit?
Editor in charge: Wang Zhen
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