The Major Sports Brands Are Low-Key, "Married Women", Quanzhou Men's Clothing Is Strong Against The Market.

Entering the late December, the major movements brand The first two quarters of 2012 Order-placing meeting The results were released in a low profile. The adjusted data still maintained a low growth trend, and no one had an open growth rate of over 10%. After two years of Hurricane strikes, local brands have shrunk in the number of commercial streets in some commercial streets under the pressure of international brands' aggressive comeback. Department store The shops also came back. High proportion of inventory, brand influence stagnation and high channel construction spending, so that local brands have to enter the defense; some production bases in the field may also delay the pace of construction, and try to resolve the financial pressure generated by the intermediate production links.

In contrast, Quanzhou's men's clothing, the biggest industry news this year, was the landing of A on May 19th. The stock price remained above 22 yuan, and its market value was over ten billion yuan, while the listed companies such as Li Lang and seven wolves were equally firm. They began to build innovative industries platform and acquire international brand agents to carry out the innovation and operation of brand fashion. From the three or four line market, the Quanzhou men's wear brand has been quite consolidated in the domestic market. In the face of the challenge of "midlife crisis", we have adopted the experience of international brand to carry out a bold counterattack and rush to the high-end first-line market.

　　 High inventory repurchase pressure

In sporting goods companies, inventory is no longer a problem, and increasing inventory is the most painful thing. In the first half of this year, Lining's interim profit was 294 million yuan, down 49.49% compared to the same period last year, but the inventory was up to 992 million yuan, an increase of 186 million yuan compared with the beginning of the year. Another data is that in the first half of 2011, the average turnover period of Lining's stock was 72 days, which was half more than that of 2010's 48 days.

Despite temporarily leaving the throne of "one brother" in the country, Lining's data are still the most concern of the industry. The role of the vane is also very obvious. What people are more interested in is their operation mode, so that the professional managers who jump from Lining to other brands will be known as "airborne" two characters. Quanzhou's sports brand Legion has many "Lining molecules" input, but this does not solve the universal problems.

Lining's inventory is about 15%, but some local brands are over 30%. 2011 less than 3 billion yuan in the first half of the year is facing nearly 5 to 1 billion yuan inventory problems, especially the inventory turnover period, which has increased to about 80 days from 50 days in the same period last year. "This will actually cause two problems, including two aspects of repurchase and new products." Mr. Lin, senior industry analyst, first analyzes the continuous introduction of new products every quarter. Therefore, the company needs to repurchase the inventory from the dealers to make room for new products. Secondly, the backlog of inventory has digested by various means, and has taken part of the consumption of new products. Meanwhile, the impact of buyback on the brand is very negative.

"How to balance the marketing of new products and inventory is directly related to the final total revenue of enterprises, but it is very easy to ignore it." Mr. Lin told reporters that the book inventory is only part of its actual inventory, and a large part of it has been wholesale to dealers but has not been sold. When 1000 or 2000 new products are listed at the same time, the stock that has been granted to dealers is likely to be faced with the pressure of repurchase and reduction, resulting in a sharp decline in net profit, which is obviously not good news for listed companies.

　　 Channel pressure

In the past 10 years, China's sporting goods market has experienced a period of rapid development, especially when compared with men's clothing, the difference is more obvious, which benefit from the channel bonus is very obvious, but this dividend is gradually becoming a pressure, and began to bite.

According to authoritative industry reports, there are about 8684 shops in men's clothing companies listed in A shares and Hongkong market in the end of 2010, while the sporting goods market in the same period is only about 1/2 of men's clothing, but the number of shops is about 57893, which is 5.7 times that of men's clothing companies. Take Lining as an example, the total number of shops listed at the end of 2004 was 2887, but by the end of June 2011, the number of Lining stores has increased to 8163, which has maintained almost 1000 stores each year.

However, sporting goods companies rely on new outlets to increase their performance. They have hit the ceiling, and many local brand stores have broken through 7000. However, the following are huge cost expenditures, as well as enhancing brand influence through store resources and raising gross margins through brand pull. "There is a great resistance to the adjustment of channels." A listed company's marketing executives analysis, the entire industry is facing adjustment, the first thing to move is the channel, for example, take control and route, increase direct stores, etc., but it should be noted that some sporting goods business operators in some two or three line cities are in the hands of large distributors. If they want to withdraw completely, they will touch on the interest issue, so this adjustment will not be accomplished overnight; on the other hand, the professional manager, compared with the old brother team at the beginning of the business, will be trusted by the founders.

way out

Sports brand: channel lighten up and light up

We can draw a bigger curve by acquiring high value and reducing the proportion of production and processing links through R & D and market. However, at present, the problems faced by Jordan sports are not exclusive. For example, in the expansion of its own capacity, leading enterprises such as PEAK, XTEP and Hongxing Erke have chosen to build production bases in the field.

"To achieve rapid and steady development of enterprises, we must be good at doing well in addition and subtraction." In the view of PEAK group CEO Xu Zhihua, the expansion of its own capacity is not wrong, because the market is still expanding. "If the value created by R & D and the performance of marketing drive exceed the production link, the radiant curve of the smile will be bigger and bigger." Xu Zhihua believes that the growth of performance has shifted from quantity to brand recognition, and the value created by R & D is only increasing. In the period after 2008, the channel expansion of sports brand has reached an unprecedented speed, and in the short run, it has also brought scale dividends to enterprises.