Jinjiang Will Welcome Fourth Business Casual Men's Wear

< p > here the world is < a href= "//www.sjfzxm.com/" target= "_blank" > clothing < /a > a href= "//www.sjfzxm.com/" target= "//www.sjfzxm.com/" > shoes < < hat net "Xiaobian introduced to you is Jinjiang will usher in business casual men's fourth shares. < /p >
< p > from the business mode, the tiger basically sells wholesale goods to all distributors and orders by distributors. The head office does not have a unified retail price and does not set retail prices for distributors and two level distributors. It only guides them to sell at 3~5 times the wholesale price of products. In 2011~2013, the average wholesale price of each male trousers was 103 yuan, 115.7 yuan and 125.3 yuan respectively, and the average wholesale price of each pair of clothing was 157.3 yuan, 170.8 yuan and 179.7 yuan respectively. < /p >
< p > tiger thinks that the wholesale price is a relatively low percentage of the proposed retail price, so that distributors and two level distributors can earn higher profits through each product sold. This "wholesale pricing strategy" has always been a driving force for the company's sales growth. Providing guidelines for retail price ranges rather than fixed retail price points will help distributors to flexibly adjust retail prices within the proposed retail price range based on changes in retail market, competition and customer demand in the area of operation. In this way, distributors and two level distributors can flexibly carry out promotional activities or seasonal sales, so as to maintain brand awareness and reduce inventory level. < /p >
< p > shop, tiger's < a href= "//www.sjfzxm.com/news/index_s.asp" > retail shop < /a > almost all by distributors and two level distributors. In 2011~2013, its distributors were 42, 44, 45, and two distributors were 147, 164 and 177 respectively. The number of terminal shops was 1085, 1205 and 1300, but only two self operated shops were located in Quanzhou, Fujian. < /p >
< p > from year to year, there were 175 new stores and 39 stores in 2011. In 2012, there were 210 new stores, 90 stores, 172 new stores in 2013, and 77 stores. By the end of 2013, it had 968 stores located in department stores or shopping centers (mostly in department stores), and the remaining 330 were independent shops. Among them, the number of shops in the first tier cities is 126, accounting for 9.7%; the number of shops in the second tier cities is 359, accounting for 27.6%; the number of shops in three cities is 448, accounting for 34.5%; the number of shops in four cities is 367, accounting for 28.2%. < /p >
< p > overall, there is a clear gap between the tiger capital and the "nine herd king" brand, but it still has a certain position in the business casual men's wear market. According to the Sullivan report, in 2013, retail sales accounted for about sixth of China's high-end men's clothing market, which accounted for 30.4% of China's men's clothing market, ranking sixth. In the high-end business casual men's wear market and the high-end business men's clothing market, they ranked fifth, accounting for 4% and 2.9% of the market share respectively. < /p >
< p > < strong > raising funds are mainly used for brand promotion and R & D, and the new leisure fashion series < /strong > /p >
< p > according to the prospectus, about 27% (HK $105 million 700 thousand) of the proceeds raised after the listing of the tiger market will be mainly used for brand promotion and marketing, such as advertising on the CCTV channel and advertising on the airport. Meanwhile, some existing retail outlets are planned to be renovated in 2014. < /p >
< p > about 20% (HK $78 million 200 thousand) of the fund-raising funds will be used to enhance the strength of research, design and product development, and will enhance cooperation with reputable design institutions such as the Shanghai standard. As a matter of fact, since May 2011, the tiger has hired a famous fashion designer from Shanghai, known as a href= "//www.sjfzxm.com/" target= "_blank" and "designer /a" Wu Xue Kai, as the fashion consultant of the company. < /p >
At the same time, in 2011, it signed a 5 year strategic cooperation arrangement with Donghua University, Shanghai, and jointly studied production technology, < a href= "//www.sjfzxm.com/" target= "_blank" > textile < /a > products, materials and so on. According to this arrangement, Donghua University will provide tiger's training on product development and product technology according to company requirements. Tiger City will jointly research and develop the selected technology and products with Donghua University. < /p >
< p > by the end of 2013, there were 124 members in the design and product development team of tiger capital, and 15 patents in trousers, tops and molding equipment, such as 8 cm crotch technology, healthy trousers, etc. < /p >
In order to enhance research and product development capabilities, tiger has also made a 3 year cooperation agreement with China Institute of standardization in January 2014. < p > According to the agreement, the R & D center in Huian, Fujian province will be designated as the center for the establishment of China's men's wear industry standard (men's clothing industry (tiger) standardized R & D center). < /p >
< p > about 13% (HK $50 million 900 thousand) of the fund-raising will be used to expand the distribution network and provide store decorations for distributors and two level distributors. The cost will be borne by the head office. It is expected that some 200 stores will be added by the end of 2014, and 100 existing stores will be renovated. < /p >
< p > in addition, about 20% (HK $78 million 200 thousand) of the fund-raising will be used to repay part of the bank loans, including an additional bank loan balance of about $19 million 400 thousand (about HK $150 million 400 thousand) expected to be raised before the listing to repay the controlling shareholder of Guo Jianxin. About 10% (HK $39 million 100 thousand) will be mainly used to install the ERP system, and the relevant ERP system suppliers have already started discussions. < /p >
< p > according to the plan, tiger will manage the whole value chain of design and product development, production, inventory control, marketing, advertising, sales and distribution through ERP system, and will require distributors and two level distributors to install ERP system in retail stores. The system will provide real-time sales orders, sales volume and inventory level information. < /p >
< p > the remaining 10% (HK $39 million 100 thousand) will be used for working capital and other general corporate purposes. < /p >
< p > according to the plan, in order to expand and improve the product mix, tiger is going to push the "leisure fashion series" product line with the target customers of 18~30 years old customers. The new product line will be sold exclusively at the retail outlets of a small number of distributors and two level distributors, and appropriate expansion plans should be conducted according to customer feedback. Tiger said that the new product will expand the company's product supply, further provide diversified products, and optimistic about the market potential of the new product line. Tiger also believes that "this will complement the strategy of consolidating the company's strong position in the men's wear industry". For the next development, tiger said, "the main goal is to consolidate our position in the high-end men's and men's trousers Market, strengthen our control over distributors and two level distributors, and improve our design and product development capabilities. We seek to implement the natural growth strategy, and there is no acquisition plan or acquisition target. " < /p >
< p > retail price, only to guide them to sell at 3~5 times the wholesale price of products. In 2011~2013, the average wholesale price of each pair of < a href= "//www.sjfzxm.com/news/index_f.asp" > tiger < /a > men's trousers was 103 yuan, 115.7 yuan and 125.3 yuan respectively, and the average wholesale price of each piece was 157.3 yuan, 170.8 yuan and 179.7 yuan respectively. < /p >