Capital To Industry: Is It A Good Match Or A Grand Banquet?

In the capital market which is still in hot war, capital will is playing an important role in the fierce competition of China's garment industry. The clothing industry must face the reality of the capital baton guiding the development of the industry, and capital operation will become the turning point of the development of the garment industry.

As Peter Deruk said, "tomorrow will always come, and it will always be different from today. If we do not focus on the future, the most powerful companies will also be in trouble.

It is dangerous to be surprised at what happened.

Even the biggest and the richest companies can not afford such a risk. Even the smallest enterprise should be alert to this danger.

This is the choice facing today's clothing enterprises.

In recent five years, the development trend of hunters or hunters shows that clothing enterprises have gradually embarked on the road of capital operation.

Over the past two years, there has been blowout. More and more garment enterprises are involved in the game of capital operation. As a garment enterprise, it is a hunk for capital or a prey for capital.

After all, when capital and industry face to face, it is not a perfect marriage. It is the struggle of Hong men's feast. If we do not buy others, we will be integrated by others.

From the more than 40 textile and garment enterprises listed in the domestic market, including YOUNGOR, Shanshan, seven wolves and wedding birds, to the more than 10 domestic textile and garment enterprises such as Lining sports, Yong en international, Yongjia international, BELLE international, Anta sports, China trend, Bosideng and other small and medium-sized enterprises listed in Hongkong, Hongxing Erke and international sports such as Singapore listed, these enterprises are experiencing the joy and excitement brought by capital.

The seven wolves, BELLE and China have begun to take the pace of mergers and acquisitions and become hunters of capital.

Sports, 361 degrees, Jordan sports, etc., and Quanzhou men's Legion (such as nine men's men's clothing, Li Lang men's clothing, men's suit, Qipai men's wear, etc.), Wenzhou's shoe industry Legion (such as red dragonfly shoe industry, AOKANG shoe industry), Wenzhou's leisure dress Legion (such as Metersbonwe), Hangzhou Tai Zi Long men's wear, Beijing's white-collar women's clothing and men's clothing, etc., and more IT and clothing enterprises combined with PPG, red children, BONO, VANCL, BBS, JUSTZEE, EnjoyCS, shirtonline, Beyond Tailors, 51 lining spruce, conch, Dangdang, excellent network, Yi Shang net, Kai Li Shi (carris), chromatography hall and other light assets companies. In addition, there are many Jinjiang sports equipment groups (such as XTEP) who are actively preparing for listing.

These enterprises are in a glare between capital and capital.

Whether traditional men's clothing enterprises or modern women's clothing enterprises, no matter the rapid development of sporting goods enterprises, or the rapid growth of "light assets" companies, they have become the playthings of capital or the prey of capital pursuit, and ultimately to become a good hunter.

Capital operation is a double-edged sword for an enterprise. If it is used, it will be a magnificent pformation of two birds with one stone and two birds with one stone.

Lenovo or LV today's Lenovo investment holding group's predecessor is Lenovo technology, with the development of Lenovo technology, after tasting the joy brought by capital, Lenovo technology will be divided into Lenovo Group, digital China, Hongyi investment, and other five group companies.

After the establishment of Lenovo Group, through the power of capital, it successfully acquired the PC business of IBM, continued to expand and strengthen the main computer industry, established the digital group, entered the IT service business, extended from the computer hardware industry to the computer application service area, invested Hongyi glass as a platform, entered into the auto parts industry through the means of capital operation, and entered the pharmaceutical industry through the acquisition of Shijiazhuang pharmaceutical industry.

Based on the real estate industry, we will enter the real estate industry.

Lenovo Investment Holdings Group has turned from a science, industry and trade integration enterprise to an investment holding operation platform through the management idea of "building a team, setting strategy and bringing teams".

Such clothing companies as the seven wolves, YOUNGOR, and Shanshan are the loyal followers of Lenovo route, and the primitive accumulation of capital is based on the garment industry, and they are making great efforts to pform them.

The seven wolves, a clothing company in Southern Fujian, is already an investment company.

Seven wolves investment holding companies have included seven wolf jacket, wolf dancing, leisure, seven wolf wolf fashion, Gang Shilong fashion suit, love all sunshine men's clothing and other major brands. They also participate in seven wolves cigarettes, seven wolves leather goods, seven wolf wolf casual shoes, seven wolf wolf tea, seven wolf wine industry and seven wolf wolf socks industry, and participate in Industrial Bank and Everbright Bank.

Today, income from capital market is equal to the income of main garment industry.

YOUNGOR and Shanshan, Ningbo's industry giants, have gradually become a subsidiary industry.

Although there are more than 20 clothing brands in Shanshan, it also works with Japanese companies, involving men's wear, women's wear, sports, leisure and children's clothing.

YOUNGOR takes YOUNGOR brand as its core and penetrates every link of the apparel industry chain from the cotton planting area, textile factory, product design, garment manufacturing to retail terminal and real estate investment in Xinjiang.

At the same time, YOUNGOR and Shanshan founded their own investment companies in Shanghai. Shanshan investment holding group has some major groups such as Shanshan clothing, Shanshan technology and Shanshan investment.

Today, YOUNGOR and Shanshan have invested more than ten billion overseas, and have become an investment institution.

BELLE is determined to become a LV apparel industry group rather than Lenovo's development ideas.

BELLE's strategic positioning is retail, integrating the supply chain around the development needs of retail.

After the listing of BELLE, the main business of the shoe industry is the acquisition of Hongkong Mian Li, the acquisition of FILA's domestic brand rights, and the three brands and two shoe material production bases of the company.

For BELLE, after having capital, all strategies are to serve the strategy.

From the acquisition of retail network, the increase of brand number and the increase of production base, these are the thoughts of industry led, dislocation merger and group development.

BELLE's acquisition of Sendar brand is to enter the men's shoes market; the acquisition of Sendar's shoe material factory is for the rapid supply of products to the terminal; the acquisition of miaali is aimed at entering the shoe retail market in Hongkong, and the acquisition of FILA brand is aimed at strengthening and strengthening the retail market of sporting goods.

In the future, we need to buy some brands to enter the two or three line market.

BELLE's ambition is to become the LV of the world. It is not a Lenovo for China to become bigger and stronger.

The new starting point is the end of the goal. More and more enterprises want to make use of capital to achieve greater success.

Is capital operation a new starting point for garment enterprises or a destination?

With the power of capital, the enterprise is to sell a good price and sell the enterprise as a product.

Or bigger to buy brands, to develop themselves?

Or expand the channels to increase market share?

Or bigger to integrate the back end and control the whole industry chain?

Or become a capital investment company by developing cross industry?

This is a problem that garment entrepreneurs should consider carefully. This will become the key to cut the capital operation of garment enterprises. The direction is always much more important than the method, and the reason is much more important than the road.

From the prospectus of Anta sports, China trend and Bosideng, all of these are aimed at making the main garment industry faster and stronger.

If it is an industry led mode of capital operation, then the introduction of private equity fund PE, venture capital VC, IPO or shell listing, we must choose the way of operation from the perspective of industry development.

Lining's cooperation with Singapore's national bank before listing, Anta's cooperation with Alexander before listing, and China's cooperation with Morgan and Stanley are all precedents.

Why?

All these resources can be brought to enterprises behind these capitals.

Taking Morgan Stanley's investment in China's trends KAPPA, ZARA and Metersbonwe as an example, through the leverage of capital, Morgan Stanley can promote the understanding of fashion between KAPPA, ZARA and Metersbonwe.

Not long ago, under the operation of Morgan and Stanley, Metersbonwe executives went to Spain for high-level exchanges with ZARA. Metersbonwe valued ZARA's understanding of fashion, and ZARA valued Metersbonwe's domestic channels.

The same is true for L FASHION investing BELLE before BELLE international listing.

Another key idea is to determine whether capital operation is a process or a result. Is it a starting point or an end?

Taking Lining sports as an example, after the company went public in Hongkong in 2004, the spirit of passion and entrepreneurship that the company advocated in the past has been gradually diluted in the minds of employees.

Although the industry's natural growth today, Lining sports still has a higher growth, but with Anta sports, China trends, international sports, BELLE international, Hongxing Erke and other listed companies, as well as XTEP sports, Jordan sports and so on to be listed.

Marriage or struggle capital is a tool in the final analysis. Capital operation is always a process of enterprise development.

In the capital market coveted the clothing industry today, Chinese entrepreneurs should consider not only capital and capital operation itself, but how capital is used for us, and how capital operation helps enterprises develop rapidly.

The hunters who become capital or the prey of capital, the mentality of celebration or the state of celebration, all determine the result of the combination of capital and industry. It is the struggle for marriage or the feast of Hong men.