Taiping Bird Clothing Listed In The First Week To Achieve Three Consecutive Trading Boards

According to the world clothing and shoe net reporter, the "Taiping fashion dress Limited by Share Ltd", known as the Chinese version of Zara, has successfully landed in the capital market in January 2017.

In the five trading days after the listing,

Three consecutive days to achieve the daily limit, the fourth day to open the word board, creating the latest record of non bank class shares opened in the past year.

In 2011, the listing process was officially launched, and the IPO of Taiping bird went on for nearly six years.

During the two share reform, three years of standardized period, queuing for nearly three years.

"IPO for many years, I have lost my temper."

Zhang Jiangping, chairman of Taiping bird, said, "this is a one-time pass, but the road of listing is actually quite tough."

Listing is difficult with internal and external factors.

In 2011, the overall trend of garment industry was downwards, homogenization competition was intense, overcapacity was serious and profit margin was low.

Under the pressure of development bottlenecks, domestic garment enterprises have begun to enter the stage of integration of industrial resources, capital operation and international cooperation.

However, the high inventory of clothing industry is serious. In that year, the IPO veto rate was as high as 50%.

Similar to the tide of collective listing of express companies in 2016, they are eager to take the lead in industrial integration and occupy the advantage. In addition, the short time and low cost of listing in Hongkong, many garment enterprises fight for H-shares in the case of A share financing process being postponed.

For example, Shanghai's high-end women's clothing enterprises La Natsu Bell.

However, the listed companies in Hong Kong encountered the problem of low valuation and the cold of public offering, and many enterprises began to return to A shares to sprint IPO.

According to the public information of the SFC,

In October 28, 2014, the prospectus was submitted to the securities and Futures Commission. In July 2016, the SFC issued feedback on the initial application document. In the month, Taiping bird submitted a prospectus for listing and financing again. In December 2016, the SFC formally approved the first public offering of Pacific bird.

According to the prospectus, Taiping bird plans to raise 1 billion 529 million yuan, and the proceeds will be used for marketing network construction projects, Taiping bird East clothing finishing and distribution logistics center project and information system construction project.

Maybe it was a release of the IPO process in the past six years. On the day of the listing bell, Taiping bird moved a more elegant show to a rigorous Shanghai Stock Exchange.

On the same day, the Shanghai building was built into a modern flight with a sense of technology and a sense of future. Its five brands came on the stage in succession.

"The Shanghai Stock Exchange has informed us that we will be prepared after the time. We have spent a lot of energy on this show and have taken a lot of risks. But I hope that at least the regulatory authorities will feel that the fashion companies are different now. It has the soul, the courage to innovate and reform."

Zhang Jiangping told reporters.

The first time he met Zhang Jiangping was hard to relate his clothes and mental state to a fast 50 entrepreneur.

In 2016, at the bird bird Festival, which was founded by Taiping bird, he wore leather fur pants and stained his hair into the popular granny's ashes. At the scene, he also played the discs, shouting wheat and the standard DJ 20th anniversary.

This fashion and youth are not common among Zhejiang businessmen who are "grass roots".

Listing is a starting point and platform. With the power of capital market, Zhang Jiangping hopes to make the brand of Taiping bird more influential and tension.

Objectively evaluating the five brands of Taiping bird, he said that he did not meet his expected criteria: "China's brand is still relatively rigid, how can we make consumers feel bright and pleasant, and we are still exploring.

Now that information is spreading faster and faster, copying and plagiarism has gone nowhere.

We want to be original with intellectual property, and cooperate with foreign designers instead of plagiarism. This is the future development idea of Taiping bird.

Taiping bird's big investment in brand investment stems from several "big changes in blood" and has not yet formed a stable consumer brand awareness.

In 1995, Zhang Jiangping, an apprenticeship from a garment factory, entered.

At that time, Ningbo was the "men's wear market". Taiping bird also preferred men's wear as the main product.

"At that time, no money, no big brand, only a single man's clothing."

Zhang Jiangping said.

Like most of the private clothing enterprises at that time, the traditional clothing production started from the beginning without the concept of brand.

With the enhancement of national brand awareness, in 1996, Zhang Jiangping registered the brand of Taiping PEACEBIRD, and began to take the brand route: in 2001, the Pacific bird began to make the brand.

In 2007, it was formally pferred to the fashion field. In 2008, it created the Japanese and Japanese style Lok ting. In 2014, the new logo was replaced, the English name of PEACEBIRD was used uniformly, and the design consultant company Landor was also designed to design a brand new logo.

The employees of the company call themselves bird people and have the spirit of entertainment. When they plan market activities, they begin to hold music festivals. They invite young stars and singers who are popular with young people to come to the platform. With more than 500 designers, more than 8000 new styles of clothing are launched every year, pushing Zara to speed up directly to the Zara.

In pition, it is a painful pformation to abandon the original consumers and find new target groups.

"We must learn not to change for the opinions of individual consumers. Brands need their own opinions."

Zhang Jiangping said.

At present, Taiping bird has formed the core brand (PEACEBIRD Mens and PEACEBIRD women's wear), new brands (LED'IN Lok dress and children's wear mini peace) and start-ups (Materialgirl women's wear and Amazing peace).

Three brand combinations of different development gradients. In addition, Taiping bird joined French design brand Alexis Mabille in 2015.

At present, core brands and emerging brands have already made profits.

According to Euromonitor, Taiping bird ranked fifth in China's mid-range casual wear market in 2015, with a market share of 3.90%.

In the 2008 financial crisis, Taiping began to make electricity suppliers. It is one of the earliest garment enterprises in China.

From 2013 to 2015, the average annual growth rate of Taiping bird electric business was 67.29%.

2013, 2014, 2015 and 2016 1-6 accounted for 8.64%, 11.66%, 15.42% and 18.65%, respectively.

Along with the development of electric business, the sales channels of Taiping bird are also changing. The trend of street shops and department stores is decreasing rapidly. The two channels that are the fastest and the most profitable are the electricity suppliers and shopping centers.

"The proportion of electricity providers will be bigger. I think that the proportion of shopping centers will increase in the next five years to 30-40%."

Zhang Jiangping once joked: "we firmly clung to the two Chinese richest men."

One is to follow Wang Jianlin online in Wanda Plaza, and the two is to follow the development of Ma On line.

So far, the electricity supplier channel has played a role in cleaning up inventory. According to the prospectus data, as of June 30, 2016, the balance of commodities in major brands increased year by year, and Taiping bird's inventory accounted for 55.49% of the current assets, with an average level of 36.46% in the industry.

Zhang Jiangping told reporters that the future line will make efforts to promote the healthy development of the entire supply chain, production and marketing is good, profits rise, inventory will drop.

From 2013 to 2015, the net profit of Taiping bird was 210 million yuan, 430 million yuan and 530 million yuan respectively, and the compound growth rate was close to 60%.

But in 2016 1-9, net profit fell 21.12% compared with the same period last year.

Taiping bird said that the main reason for the decline in profits in the first half of 2016 was slow expansion of new franchisees, resulting in a decline in sales revenue from franchising channels. On the other hand, 161 new outlets in the first half of the year were 2016, resulting in a corresponding increase in sales costs.

In the past few years, the apparel industry, which has been going to inventory, generally wants to learn the flexible mechanism of Zara: the average shipment time is two weeks, which is 5 times that of H&M, and its inventory rate always stays at 15%, and all the clothes in its headquarters warehouse will not stay longer than 3 days. On average, only 15% of the clothes per quarter need to be discounted, and the other brands are 50%.

Zara has sacrificed many costs for its fast and flexible mode of operation: over 50% of its products are manufactured by itself or surrounded by a representative factory, which has been gradually outsourced in recent years. This mode allows Zara to react quickly according to the sales situation of the stores, and most of the remote pport chooses the aircraft. In freight and marketing expenses, Zara is biased towards the former, and marketing expenses account for only 0.3%-0.4% of the total cost.

Zara's business model is similar to "lean manufacturing". This is a management philosophy originating from TOYOTA's production mode, which is different from the traditional production mode. Its characteristics are "multi variety" and "small batch".

In 2001, Zara's parent group was listed in the Inditex of La Coruna, a port city in northern Spain, with a total market value of 9 billion euros. In 2015, the total market capitalization for the first time exceeded 1000 billion euros.

In 2016, with the continued downturn in the sales of competitors, the net sales of Inditex totaled 16 billion 403 million euros in the first nine months, up 11.3% from the same period in 2016, and increased by 14.5% according to the local exchange rate.

Zhang Jiangping took executives to visit Inditex's headquarters.

Headquartered in La Coruna, a port city in northern Spain, it is an important seaport and shipbuilding base in Spain. Its economy is mainly fishery and fishery processing.

Influenced by the successful experience of Zara, he felt that Ningbo is a city suitable for the development of the Pacific bird. "Big cities have a lot of pressure on life, so it's hard to create a happy atmosphere like today's Pacific bird."

Under the support of big data management of electric power providers, Taiping bird is also trying to build a system of small batch, multi batch and quick shipment, increasing the elasticity of supply chain, thus reducing the pressure of inventory.

From the point of view of the ratio of price to income, the price of the domestic clothing market is too high. Many insiders believe that the industry will be "de priced" in the future.

"We still need to lower prices and raise gross margins through circulation. I think it is reasonable to keep profits within the right limits and ensure the sustainable development of enterprises."

Zhang Jiangping told reporters.

On the other hand, Zhang Jiangping was careful to avoid learning from other clothing companies.

Encountered in the process of minefields.

In the face of the decisive crossroads in the development of enterprises, he gave up many other industries' investment opportunities, and did not plan to do too many brand mergers and acquisitions to enrich his business.

But now that I have chosen

This road must recognize this road.

We will not do too much M & A and do well in our main business.

"Wei"

The media positioned the Pacific bird as the Chinese version of "ZARA", but Zhang Jiangping and management clearly understood: "if Zara has evolved to the 5 version, then we are still only the 1 version of Zara, and there is still a long way to go."

More interesting reports, please pay attention to the world clothing shoes and hats net.