How Did La Natsu Bell Become So Popular Today?

According to the world clothing shoes and hats net, recently,

The performance of the first 9 months of 2017 has been announced, achieving a revenue of about 6 billion 232 million yuan, an increase of 7.72% over the same period last year. Net profit attributable to shareholders of listed companies is about 340 million yuan, up 4.5% over the same period last year; the basic earnings per share is 0.62 yuan, and the weighted average return on net assets is 9.4%.

By the end of September 2017, there were 9258 counters and stores in the city, including 820 cities in the first tier cities, 3477 in the second tier cities, 2588 in three cities, and 2373 in other cities. 5582 of the counters were distributed according to the nature of the channel, 3664 of which were monopolized, and 12 were joined. The reporting period corresponded to 388 new franchised counters, 887 franchised franchised stores, and 887 franchised stores.

Meanwhile, in October 2017, when La Natsu Bell issued new shares in the A share market, according to the securities times stock market big data, new media "data treasure" statistics, 133 stocks for the first time received institutional concern.

Among the stocks that have announced the target price, La Natsu Bell's target is the biggest increase, with a target price of 30.80 yuan and a 73.72% rise.

So, in fact, La Natsu Bell, the price flat, the plain Shanghai.

Is the company always this good?

In 2012, La Natsu Bell had already queued up to sprint A shares IPO, but unfortunately experienced IPO's eighth "closing". At the end of May 2013, La Natsu Bell appeared in the list of "termination review" companies announced by the SFC, and A shares were destroyed.

However, after the A share market suffered setbacks, La Natsu Bell did not give up the way of listing. Instead, he chose to bypass the Hong Kong stock market and was listed on the main board of the HKEx in October 2014.

However, La Natsu Bell's subscription to the HKEx was cold, and the fund-raising situation was not as good as expected.

According to the prospectus released by La Natsu Bell, only about 95% of the public offering shares were subscribed and no full subscription was made; the offer price per share was HK $13.98, the lowest limit for the range of HK $13.98 (HK $-18.2).

It is not just the cold subscription of new shares, but from the performance of La Natsu Bell after the listing of Hong Kong stocks, the market does not seem to buy it.

After reaching HK $20 in February 2015, it basically hovered around the issue price. Since the end of 2015, the share price has been below the issuing price for a long time.

In fact, La Natsu Bell's cold war in Hong Kong stock market is not accidental.

In early 2017, La Natsu Bell released his 2016 performance report.

In clothing

Against the backdrop of "cold winter", La Natsu Bell relied on the rapid expansion of shops to increase revenue and break through billions of dollars.

But the earnings report still shows that La Natsu Bell's net profit has dropped for the first time since its listing, and the number of stores that has grown sharply has led to overall revenue and increased cost pressures such as rent.

As a traditional clothing brand, La Natsu Bell looks forward to a diversified way to break through the bottleneck of performance.

In 2015, La Natsu Bell just added 1500 new stores.

In the case of unsatisfactory progress in the Hong Kong stock market, La Natsu Bell began to seek to return to A shares.

In November 2015, La Natsu Bell disclosed the prospectus, and proposed to issue more than 54 million 770 thousand shares of new shares, with a total fund-raising of 1 billion 640 million yuan, of which 1 billion 560 million yuan was used to expand the company's retail network.

In the prospectus, La Natsu Bell said that the company's financing channels and methods in China are relatively single, and its business is concentrated in the domestic market, and there is no matching domestic equity financing platform.

Returning A shares to establish a domestic equity financing platform will help La Natsu Bell improve the diversity of domestic financing channels and reduce the risk of debt financing.

From the information disclosed in the prospectus, La Natsu Bell chose to continue expanding the stores.

The prospectus shows that La Natsu Bell expects to invest 1 billion 556 million yuan of funds raised by IPO to the expansion project of the retail network, and plans to build 3000 new retail outlets in the next three years, including 2094 new outlets and 906 new outlets.

As of December 31, 2016, La Natsu Bell had 8907 stores nationwide, compared with 1841 in 2011, which has expanded 4.8 times. If the plan is successfully implemented, three years later, the company's network will probably exceed 1.

According to the prospectus information, although the expansion of direct retail outlets, integration of online and offline business, so that the company can more effectively manage brand and price, but the new retail outlets will significantly increase inventory and operating costs.

If the company fails to achieve the impact of the rising cost of digestion through the continuous growth of operating income, a significant increase in related operating expenses will have a negative impact on the company's financial position, business performance and development prospects.

It is worth noting that according to statistics in the prospectus, La Natsu Bell net interest rate is significantly lower than the industry average.

The following is the gross margin and net interest rate of the same industry in the prospectus.

In the 2014-2016 years, La Natsu Bell's net profit margin was 8.23%, 8.85% and 8.85% respectively, while the average industry value was 18.05%, 16.89% and 15.67% over the same period.

So how did a garment company with a net interest rate that was significantly lower than the industry average become such an institution?

Opening new retail outlets

Since La Natsu Bell entered Tmall in August 2014, the sales scale has been increasing rapidly.

On this basis, the company also collaborated with Tmall in intelligent matching project, which provides intelligent matching algorithm, docking technology and other support to provide consumers with professional collocation services.

In addition, with the full development of the commodity through sector, members and other aspects will also be launched soon after the stabilization.

In 2016, La Natsu Bell began testing the smart store with the fitting mirror.

The smart clothing shopping wizard in the store loaded Tmall's new retail intelligence matching technology and opened up the flagship store of Tmall brand.

You only need to select the clothes of the central instrument before coming to the mirror, and you can automatically show more collocation ways associated with this dress on the big screen, which greatly improves the efficiency of the store related recommendation.

Multi brand + full direct + Deep Participation supply chain

La Natsu Bell's multi brand operation mode can effectively break the limitations of single brand in consumer group, dressing scene and style style coverage, establish a broader customer base, improve the company's penetration in the mass fashion market; "full direct sales network + full channel retail mode", continue to expand the retail network to cover the breadth and depth; efficient and deep participation supply chain system, and improve the company's rapid response capability.

Still positioning the middle end of the public casual wear

In 2015, the market scale of China's adult casual wear was 605 billion 500 million yuan, an increase of 5.51% over the same period last year, accounting for 57.90% of the adult clothing market and a larger market space.

The middle leisure clothing market, because of its huge consumer base and stable demand, will still occupy a larger proportion in the future.

From the point of view of concentration, the market competition of China's mid-range casual wear is fierce, and the market share is mainly international brand, but the market concentration tends to improve.

Among them, La Natsu Bell's market share ranked third, about 5%, and the top two were international brands.

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