On September 10, Xinjiang La Chapelle Clothing Co., Ltd. (hereinafter referred to as “La Chapelle”) announced that the company’s Chinese name will be changed from “Xinjiang “LaChapelle Fashion Co., Ltd.” was changed to “Yi Xin Group Co., Ltd.”, and the company’s English name was changed from “Xinjiang LaChapelle Fashion Co., Ltd” to “Yi Xin Fashion Group Co., Ltd”.
La Chapelle explained the reason for its name change as being to “accurately reflect the company’s strategic plan for multi-brand development” and “to support the company’s brand lines based on the company’s new retail reform and the need to develop online brand licensing business.” development of authorized business.”
Photo according to La Chapelle official website
While announcing the name change, La Chapelle also announced that it would add Internet of Things technology services, Internet of Things technology development, information system operation and maintenance services, software development and sales, investment management and consulting, 19 operating businesses including the development, transfer, consulting and services of information technology and textile technology.
It is worth mentioning that this is the second name change of La Chapelle this year. LaChapelle announced on March 31 that the company name was to be changed from “Shanghai LaChapelle Clothing Co., Ltd.” to “Xinjiang LaChapelle Clothing Co., Ltd.” and the registered address was also moved from Shanghai to Xinjiang. It is reported that related work The matter was completed in July.
In the relevant announcement, La Chapelle said that it changed its registered address mainly to obtain support from the policies and funds of the place of relocation, so as to broaden the company’s financing channels and fundamentally ease liquidity. pressure. It is worth noting that La Chapelle’s two name changes did not involve its operating brands.
Behind the fact that La Chapelle changed its name twice a year was its performance declining year by year, delisting warnings and frantic store closures. Data shows that from 2017 to 2019, La Chapelle recorded net profits attributable to the parent company of 499 million yuan, -160 million yuan and -2.17 billion yuan (the same below), while non-net profits after deduction were 380 million yuan, -245 million yuan and 2.24 billion yuan. billion.
Affected by the company’s net profit losses for two consecutive years, La Chapelle received 12 delisting reminders within half a year, and officially announced on June 30 this year that its A-shares would A delisting risk warning will be implemented from the next day.
While performance is declining, La Chapelle is closing stores frantically in order to “actively shrink and focus”. Relevant financial reports show that the number of La Chapelle’s domestic operating outlets plummeted from 9,269 at the beginning of 2019 to more than 4,800 at the end of 2019, and as of June 30, 2020, the number dropped to 3,667.
In addition to closing stores, La Chapelle seems to be interested in focusing its business development resources on the “online model.” According to reports, La Chapelle will rely on new information service business operations, such as omni-channel data analysis applications and member consumption behavior analysis.
Whether La Chapelle’s business transformation, name change, expansion of business scope, channel adjustment and other measures can really usher in new development opportunities remains to be tested by the market.
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