The women's brand "Klown" is listed on the parent company, and Gao Yuanyuan is ringing the clock.

Yesterday (February 14th), Anzheng Fashion Group, the parent company of the women's wear brand “Kangzi”, held a ringing ceremony at the Shanghai Stock Exchange and officially listed.

According to the media, after the Taiping Bird started the first shot of the apparel company in the A-share main board market in 2017, yesterday (February 14) another apparel company, the women's brand "Zizi" parent company Anzheng Fashion Group held at the Shanghai Stock Exchange Ringing the bell ceremony, announced the official listing. The opening price was 24.16 yuan, and it was the daily limit after the opening. After the listing, it surged 44%, reaching the limit of the listing.

The scene of the Taiping show on the Taiping Bird’s bell-studded ceremony was impressive, and Anzheng Fashion chose to go public on Valentine’s Day, and invited the popular lover’s actor Gao Yuanyuan to ring the bell.

At the scene, Gao Yuanyuan dressed in a red dress with a custom-made look. "Yesterday's venue layout made me amazing, let me feel the romantic sweet atmosphere of Valentine's Day, which also subverted my impression of the past financial institutions." Gao Yuanyuan said that although the contact with the brand is not long, Anzhen Fashion invited 5 VIP members. She was moved by the participation in the ringing.

Although the return from the previous acquisition of the brand was questioned by the industry, for the multi-brand strategy, Anzheng fashion is still persistent. Zheng Anzheng, the actual controlling shareholder, chairman and general manager of the group, said that after the listing, it will expand based on the existing five brand matrices, which may be rich in fashion sports and leisure. In the possibility of acquisitions and mergers and acquisitions after listing, he said that he does not necessarily peg foreign brands, or may acquire or acquire brands that have advantages in domestic channels.

Founded in 2008, Anzheng Fashion Group has an initial public offering of 71.26 million shares. The price of this issue is 16.78 yuan/share. According to the prospectus, the company expects full-year operating income for 2016 to be 1.15 billion yuan to 1.25 billion yuan, a decrease of 6.11% to 2.05% compared with the year-on-year growth in 2015, and a net profit of 210 million yuan to 230 million yuan, a year-on-year increase from 2015. 0.91% to 10.52%.

In addition, the fundraising use will be in the area of ​​supply chain center renovation and expansion, marketing network construction, R&D center construction, and information system construction.

Women's shuffling period, build multi-brand matrix

Yesterday, many of the guests present were accompanied by a Wenzhou accent, which was related to the characteristics of the family business in the Anzheng fashion ownership structure. According to the prospectus, among its major shareholders, Zheng Anzheng, Zheng Ankun, Zheng Anjie and Zheng Xiuping are brothers and sisters. Chen Kechuan and Zheng Xiuping are husband and wife, and the four shareholdings account for 78.784%.

As a warm merchant who loves Wenzhou Sanxian noodles in the mountains and seas, Zheng Anzheng, chairman of Anzheng Fashion Group, started his business in 1986 and began to develop step by step from the tailoring workshop. He then joined the Haining leather industry. In 2000, he completed the original accumulation and established the women's wear brand. "玖姿".

In the clothing matrix of Anzheng Fashion, as the first original brand in China, the main brand of mature women aged 28~49 is the backbone of the Group's operating income. In 2015, sales accounted for 66.66% of Anzheng Fashion Group. In the first half of last year, it was 52.93%. It is understood that in the 2015 national women's brand sales ranking of large-scale retail enterprises, Knee is listed as one of the top ten women's brands in the market share, and ranked third in the high-end women's brand sales ranking.

However, the domestic high-end women's market is fiercely competitive. In addition to facing the competition of foreign luxury brands such as Armani and Chanel, it is also necessary to deal with the rivalry of domestic rivals such as Langzi and Ge Lisi. According to the prospectus, in the first half of 2016, Anzheng Fashion's revenue was 529 million yuan and its net profit was 117 million yuan. In 2015, its revenue was 1.22 billion yuan. Although this score is lower than that of another apparel company Xinhe, which is in the IPO, it is higher than the other year's women's clothing listed companies and pre-disclosed listed companies. Including Langzi shares, Vignas and songs.

In Zheng Anzheng's view, the Chinese fashion industry is in the midst of an industry adjustment period. From now on, women's wear will enter the shuffle and the future apparel industry will continue to be subdivided.

Or layout casual fashion field

In the past few years, “Kitzi” has experienced a slight decline in market share. According to the statistics of China Business Information Center, it has dropped from 1.61% in 2013 to 1.29% in 2014 and then to 1.11% in 2015. The franchisee's income is related to decline.

At present, “Zizi” adopts a sales model of both franchise and direct sales. The “Yinmo”, “Anzheng”, “Mosak” and “Fina Morning”, which are in the brand growth period, mainly adopt the direct operation mode. Zheng Anzheng said that after the listing, the proportion of joining will be adjusted. In the future, joining and direct operations may be adjusted to half of each.

The Group is also aware of the risks of relying on a single brand. The prospectus mentions that the company's ability to operate multiple brands needs to be further strengthened. Judging from the frequent actions of Anzheng in recent years, it is actively relying on incubation and acquisition to find incremental growth through the layout of men's wear and middle-selling subdivisions.

Anzheng Fashion practices a multi-brand strategy to seize the diversified market. Its main business includes four mature women's brands such as “玖姿”, “Yinmo”, “Mosak” and “Fina Morning”, and “Anzheng” business fashion menswear brand. .

In 2008, the creation of the women's brand “Yin Mo”, which is positioned at the core age of 28~35 years old, opened the company's multi-brand operation strategy. As the company's second-largest women's wear brand, Yin Mo has a more high-end market positioning and price range than “Zizi”. Currently, 81 retail stores have been established nationwide.

Later, the “Anzheng” men's wear with 35-45 years old as the core age group was cut into the mid-to-high-end price market between the international first-line brand and the domestic Volkswagen brand. The brand is currently in the incubation period.

However, despite the certain increase in sales revenue of “Yinmo” and “Anzheng” brands, the performance of the two brands acquired by the Group is not satisfactory. In the second half of 2014, under the guidance of the multi-brand development strategy, the company has acquired two fashion brands, “Moss” and “Fina Morning”, in the middle of the mature women's clothing segment, but the income contribution is relatively small. . According to relevant data, Shanghai Mosak's net profit loss was 9.52 million yuan in 2015, and the profit was 1.25 million yuan in the first half of last year. The situation in Fiona morning was even worse. In 2015, the loss was 14.43 million yuan, and the loss in the first half of last year was 1.94 million. yuan.

According to the reporter's question and answer on the spot, Zheng Anzheng has a lot of thoughts about the future direction of the acquisition. He said that “the prospect of sports fashion is huge,” and said that after the listing, it will expand according to the existing five brands. For fashion sports or fashion casual categories. For the recent trend of the domestic apparel industry to buy foreign brands, he said that he does not necessarily focus on foreign brands, or may acquire or acquire brands that have advantages in domestic channels.

Establish an independent e-commerce brand

Compared with similar high-end women's clothing such as Langzi, Xinhe, and Ge Lisi, Anzheng's stores can be the largest. As of the end of June 2016, the number of terminal stores of the five brands was 897, of which 287 were directly operated stores and 610 were franchised stores, covering the key business districts of major cities in 31 provinces, autonomous regions and municipalities directly under the Central Government.

For the channel, the company constantly adjusts according to the floor effect and carries out structural optimization. During the period from 2013 to the first half of 2016, the number of new direct stores was 69, 89, 87, and 35, respectively, and the number of closed direct stores was 27, 41, 54 and 18.

According to the prospectus, its direct mode will mainly cover the northeast, east and south China regions and high-level markets, adopting the high-end market priority, strategic market priority and the layout principle of a city channel model.

There are also separate strategies for different brands. The company's "Zizi" and "Yinmo" women's wear brands will strengthen their penetration into second- and third-tier cities and South China, and further fill the gap in the market; "Anzheng" men's wear brand adheres to the development orientation of the high-level market, focusing on detailed and strict opening of the store. Rules and argumentation process; two emerging brands, Mosac and Fiona, will gradually sink sales channels after taking the lead in consolidating the market in first- and second-tier cities.

On the online part, its proportion is on the rise. According to the prospectus, from January to June 2016, the company's network sales accounted for 2.81%, 4.31%, 9.14% and 11.92%, respectively, and the overall trend is on the rise.

In 2010, Kneeling officially settled in Tmall to open a flagship store. In the following year, online sales exceeded 16 million yuan, and in 2012 it increased sharply to 36 million yuan. During the period, the brand experienced a development process from “sales inventory” to “developing new samples from stock fabrics” to “developing products for the online market”.

However, Zheng Anzheng said that the proportion of online sales in overall sales will be controlled at 30%, the company is still mainly offline sales, and online in addition to the role of five-year sales promotion, it will also be important Marketing platform.

With the development of the O2O business model and the relatively young online population, the company launched independent brands for online channels, attracting consumers at a price/performance ratio, or achieving simultaneous sales of online and offline products. At the same time, Zheng Anzheng also revealed that this year's men's wear brand will be omnichannel products will be opened, as well as online and offline goods synchronization.

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