Outdoor Clothing Has Become A New Force But It Has Been Flat.

stay clothing As the industry continues to slump, outdoor clothing, as an emerging force in China's apparel market, is growing rapidly. Relevant data show that the scale of China's outdoor products market has increased from 60 million yuan in 2000 to 11 billion yuan in 2011, and the compound growth rate has exceeded 40% in the ten years.

However, the performance of outdoor clothing brands in the capital market is not very prominent. The investment data provided by the Qing Research Center show that from 2008 to now, there are only 6 investment cases in the outdoor clothing market. In 2010, compared with the 2012 years, the performance of the outdoor clothing market was even, with only one enterprise being invested.

"The outdoor industry will grow rapidly and its future development potential will become the focus of attention of PE," Wang Yixuan, an analyst at Qing Ke research center, is optimistic about the development prospects of the outdoor industry.

　　 Rapid expansion of market

With the continuous upgrading of consumption, the awareness of tourism and outdoor life, the demand for outdoor products in the consumer market is also improving. Outdoor products have become one of the potential segments of the garment industry.

The research report pointed out that in the past 2000-2010 years, the total retail sales of outdoor products industry in China has achieved an average annual growth rate of 47.33%. Among them, the total retail sales volume of domestic outdoor industry is 42.7% in 2007-2010 years, and the outdoor industry in the future will continue to maintain a good growth trend.

"Outdoor market line-up is getting stronger and stronger. In addition to attracting sports brands such as ADI, recently discovered that VANCL, which has always been advertised as the Internet fashion brand, has also begun to make an assault suit." A Post-80's media enterprise white-collar worker and a China Securities Journal reporter were talking about the Internet purchase.

Coincidentally, in October 24th, Li-Ning Adventure (Lining exploration) brand's first direct store, the flagship store of the Lining Central Park opened, which means that Lining officially stepped out of the first step to enter the outdoor market.

According to introducing, Lining's determination to layout outdoor industry has a long history. In 2005, Lining used a 50 year contract to win the French outdoor brand Aigle and set up AI Gao (China) outdoor sporting goods Co., Ltd., responsible for producing, marketing and selling Aigle brand outdoor sports and leisure wear in China. shoes Products.

With the gradual acceptance of outdoor brands, both domestic and foreign brands show an explosive growth trend. Related reports show that The North Face (Lois FIS) in September 2009, the number of stores in China is 292, as of now nearly 500. The US outdoor brand Columbia has about 300 stores in China 3 years ago, with more than 600 stores in the first half of this year. The growth rate of Pathfinder is even more obvious. The number of stores at the end of 2006 was 186, and the number of stores in the first half of this year has reached 1226, with 189 new stores opening annually.

In terms of profitability, both domestic and foreign brands have achieved fruitful results in China. Columbia said the Asia Pacific region, represented by China in the first half of this year, has the most obvious growth momentum. Since the launch of the Pathfinder in 2009, its performance has increased rapidly, with net profit almost doubled in 2011.

"The domestic outdoor market is replicating the golden trajectory of sports brands in the past ten years," a senior veteran of outdoor products said.

　　 VC/PE less investment

According to the analysis report of the Qing Research Center, in 2008, Sanfo outdoors and Pathfinder two enterprises were invested, and the Pathfinder went public in Shenzhen Stock Exchange in 2009. In 2011, three enterprises of M360, Sanfo outdoor and Kang Jian wild were invested, becoming the largest number of cases in outdoor brands in recent years. In addition, only one enterprise was invested in 2010 and 2012 years.

There are two reasons for the outburst of investment in outdoor industry. Firstly, outdoor products are small market, and the audience is only interested in outdoor sports. At the same time, they do not exclude the lack of awareness of outdoor sports among Chinese consumers. Therefore, there is no standard requirement for outdoor products, which leads to the lack of demand. Secondly, the domestic outdoor industry itself is in the initial stage of growth, the number of brands is not large, and the capital market lacks selectivity and attention to it. According to the analysis of Qing Ke research center, the outdoor industry will grow rapidly, and its future development potential will become the focus of attention of the industry. We can infer that the outdoor industry will usher in a new development trend.

Donghai securities analyst Zhang Xian Ping It is believed that compared with traditional casual wear and sports fashion products, outdoor products emphasize functionality, with higher technology content in product function design and fabric selection. The design of outdoor products is not only limited to the functionality of the products, but also the requirements for appearance and fashion are more and more stringent. This makes outdoor products can also be used in daily life and become a daily consumption.

The research center of Qing Ke believes that Pathfinder, as the first listed outdoor product company, has played a leading role in China's domestic outdoor products companies. There will be more enterprises going public in the future.

At present, the domestic listed companies engaged in outdoor products brand are only two Pathfinder and Jialin Jie, but not less than 10 companies are planning to go public, of which Sanfo outdoor has been listed in the IPO declaration enterprise list issued by the SFC.

In the prospectus, the Pathfinder listed the 3 foreign brands of Columbia, rolls FIS and OZARK as the main competitors, but within 3 years, domestic brands rapidly expanded with the speed of obviously faster than foreign brands, and the competitors faced by the Pathfinder grew more and more. Sanfo outdoor sales reached 1 billion 800 million yuan in 2009, with more than 30 stores and its own outdoor clubs.

"Of course, the Pathfinder is successfully listed, making the first demonstration for other outdoor products enterprises." Wang Yixuan, an analyst at Ching Ke research center, thinks that, first of all, after exploring the listing process, the Pathfinder can standardize and rationalize the operation and management, channel marketing and other operational links, and provide an effective reference value for the unlisted or listed companies. Secondly, the successful listing of the Pathfinder has raised the concern of the outdoor industry and laid the foundation for its long-term development. Finally, attracting capital market to invest in its funds to help enterprises grow rapidly.