The "Shoe King" Daphne Has Been In A Bad Mood.

In fact, the performance of Daphne group has been going downhill in recent years.

Data show that in the period of Daphne's brilliant achievements, the market share of women's shoes is close to 20%, which is truly a "public shoe king". According to data from the 2011, the growth rate of Daphne's same store began to decline gradually. By 2015, it had plunged 18.5% and recorded a loss of HK $379 million. This is also the first performance loss of the group since its negative growth since 2012.

At the same time, the company's share price also began to shrink from 2013. As of October 24, 2016, Daphne's shares closed at HK $1.04, down 91.2% from its peak of HK $11.84.

The decline of Daphne's performance is partly due to women's shoes.

More and more, and the physical store rents, labor costs rose sharply, to the entity business has brought greater pressure, but also squeezed the profit margins of the physical store.

On the other hand, brand products lack of innovation, homogenization is serious, and their positioning and management strategy is not clear, in the challenges of foreign brands, it is difficult to attract personalized demand, sales decline rapidly.

The number of stores decreased from 6758 in 2014 to 4840, which has dropped by nearly 30% in two years, averaging two stores a day.

Recently, Daphne International Holdings Ltd released the third quarter 2016 operating data announcement.

As of September 30, 2016, Daphne group's core brand business and same store sales fell 13% year-on-year.

Meanwhile, the number of stores in the first three quarters of the group's core brand was reduced by 757.

Daphne group said sales decline was mainly driven by falling sales, while the average selling price of core brands declined slightly in the first three quarters of 2016.

Under the pressure of continuous sluggish sales performance, Daphne group began large-scale integration of the sales network, closed 805 stores in 2015 alone, and closed 757 stores in the first three quarters of 2016.

The number of stores decreased from 6758 in 2014 to 4840, which has dropped by nearly 30% in two years, averaging two stores a day.

Daphne said that closing the loss shop is conducive to improving the quality of the overall sales network in the future, but the consolidation measures such as the sharp closing of the whole year and the subsequent layoffs, the negative leverage effect has become another burden of Daphne's dismal earnings.

"It's not a big brand that's so expensive. The same price can buy a pair of more comfortable ones and a new style."

This is a netizen's evaluation of Daphne brand.

Once the "shoe king" seems to have lost its strength in the face of the market and consumers.

A 10 year old shopkeeper, Ms. Wang, also said that there were many "small brands" and Daphne's old women's shoes on the market. Although the popularity of these "small brands" was relatively low, they were cheaper at the price, and the styles were updated more quickly than Daphne, which attracted a large number of consumers. "This is a small brand," said Ms. Wang, who joined Daphne.

After realizing the importance of online business, these old cards

Started to act, Baili group launched an e-commerce website to purchase excellent products. On Saturday, the women's shoes were set up to set up an electric power company O2O, and Daphne continued to push the promotion of e-commerce.

This year, the double eleven Daphne Tmall flagship store started the pre-sale early. The reporter visited his home page and found that a winter boots with an original price of 499 yuan, the pre-sale price was only 199, and the discount was as low as 39.8%.

It is worth mentioning that the electricity supplier seems to be the only highlight of Daphne group's performance. In the performance announcement, Daphne has repeatedly mentioned the performance of its e-commerce business.

But there are also doubts that Daphne has never publicly disclosed its online sales performance. Daphne's position on the Internet is also very embarrassed. Its share is not as good as 1/10 of the group's business.

Straws.

In addition to brand aging, inventory backlog is also a problem for Daphne.

Public information shows that in 2015, Daphne's stock was HK $2 billion 92 million, and the stock turnover days were 218 days. In the mid 2016 earnings report, the number of storage cycles rose to 232 days. Daphne group said that the main reason for the sharp decline of the gross profit of the first half of the group was the important factor that forced Daphne to force the electricity supplier.

The industry believes that the threshold of footwear industry itself is relatively low. With the continuous influx of domestic and foreign brands into the market, there is a surplus of women's shoes in China. If Daphne can not return to the product itself and the needs of consumers, it will not be able to save itself.

In fact, in the face of the impact of factors such as electricity consumption and consumption upgrading, more than Daphne, some of the old women's shoes have gradually become the burden of the channel advantage, and the women's shoes market is no longer "expansion is king" mode.

In the two quarter of, the well-known women's shoe brand BELLE's mainland China retail operation data showed that in the 6-8 month, the domestic footwear business in the same group decreased by 10%, which has not been able to grow since the fourth quarter of the 2014 fiscal year.

During the period, the group continued to shut down, reducing 276 rooms.