With the disclosure of the 2020 interim report, well-known local women’s clothing listed companies have distributed report cards that are extremely rare under the impact of the epidemic.
According to statistical data, in the first half of 2020, 10 women’s clothing companies listed in Shanghai, Shenzhen and Hong Kong achieved operating income of 12.275 billion yuan, a decrease of 2.526 billion yuan compared with 14.801 billion yuan in the same period last year. The net income attributable to the parent company Profit was 1.401 billion yuan, a decrease of 443 million yuan compared with 2.945 billion yuan in the same period last year.
From the perspective of corporate performance, Jiangnan Buyi ranks among the net profit rankings At the top of the list, during the reporting period, on August 26, the company achieved operating income of 3.099 billion yuan and net profit attributable to the parent company of 347 million yuan, a year-on-year decrease of 7.70% and 28.48% respectively; in terms of brands, the JNBY brand achieved operating income 1.762 billion yuan, a year-on-year decrease of 6.3%. The revenue of growing brands such as CROQUIS (sketch), JnbybyJNBY and less was 1.263 billion yuan, a year-on-year decrease of 10.3%. The revenue of emerging brands such as POMMEDETERRE (Pengma) and JNBYHOME increased by 5.6% year-on-year, with a scale of only 75 million. Yuan.
During the reporting period, in order to maintain the brand value and image, Jiangnan Buyi still maintained the original discount level during the epidemic, resulting in a greater impact on product sales. Regarding the development ideas for the next fiscal year, Jiangnan Buyi will continue to upgrade stores and develop new online products. In terms of retail, first of all, in terms of brand, we terminated the SAMO men’s wear brand business, upgraded the Reverb environmentally friendly fabric brand, and opened a new “Jiangnan Buyi+” membership store; in terms of channels, we upgraded the store image and opened 30-50 new stores; online On the other hand, private domain traffic is also used to enhance stickiness with fans, and e-commerce platforms are used to clear inventory.
Disu Fashion ranked second with a net profit of 298 million yuan. During the reporting period, Disu Fashion achieved operating income of 986 million yuan in the first half of the year, a decrease of 11.24% compared with the same period last year. The net profit attributable to shareholders of the listed company was 2.98 billion, down 12.18% from the same period last year.
As of June 30, 2020, the number of Desu Fashion retail terminals was 1,108, with the number of stores increasing steadily.
In terms of brands, DAZZLE, a women’s clothing brand under Disu Fashion, achieved operating income of 571 million yuan, a year-on-year decrease of 11.14%; DIAMONDDAZZLE, a high-end custom women’s clothing brand, achieved operating income of 79 million yuan, a year-on-year decrease of 10.60%; and the young women’s clothing brand dzzit achieved operating income 331 million yuan, a year-on-year decrease of 11.00%; the men’s clothing brand RAZZLE achieved operating income of 4.3567 million yuan, a year-on-year decrease of 36.07%.
In terms of channels, the online business achieved operating income of 179 million yuan, a year-on-year increase of 22.08%, and the gross profit margin fell to 77.1% year-on-year; offline directly operated stores achieved operating income of 805 million yuan, a year-on-year decrease of 16.29%, and the gross profit margin Basically the same; offline dealers achieved operating income of 399 million yuan, a year-on-year decrease of 10.48%, and gross profit margin increased by 0.5pcts year-on-year to 71.72%.
During the epidemic, Disu Fashion continued to increase brand awareness through multi-channel and multi-level media cooperation, celebrity interactions and other methods. For example, d’zzit has reached a strategic cooperation with iQiyi’s flagship variety show “Youth with You 2”, participating in the show by customizing trainee uniforms, and also setting up a “Youth with You 2” section in offline stores. In terms of cross-border cooperation, we have cooperated with well-known IPs such as Astro Boy, Goofy, and Jungle King to launch brand co-branded series in different bands. In terms of brand endorsements, in addition to Liu Wen, Mitsuki Kimura, Zhou Dongyu and brand friend Zhong Chuxi, the company also has in-depth cooperation with many celebrities and KOLs, fully exposed on social media, and the brand influence has been further enhanced.
Shenzhen Elise Clothing Co., Ltd. (hereinafter referred to as “Elise”), which ranks second in net profit, achieved operating income of approximately 814 million yuan in the first half of the year, a year-on-year decrease of 35.7%; net profit attributable to the parent company was approximately 262 million yuan yuan, a year-on-year increase of 37.77%. As of the end of the reporting period, ELLASSAY’s main brand ELLASSAY had 299 terminal stores; the Ed Hardy series brand had 142 terminal stores; the Laurèl brand had 50 terminal stores; the IROParis brand had 61 direct-operated terminal stores (including domestic), self-portrait The brand has 1 terminal store.
In terms of brands, ELLASSAY’s operating income fell by 20.28% year-on-year to 381 million yuan. As of the end of the reporting period, it had 299 stores, with 161 direct-operated and distribution stores respectively and 138; Laurel’s operating income fell by 6.61% year-on-year to 51 million yuan. Yuan, as of the end of the reporting period, it had 50 stores (2 net closures);
The operating income of Ed Hardy and EdHardy There are 142 stores, 41 directly operated and 101 distributed stores respectively;
IRO has 61 directly operated stores globally, contributing operating income of 226 million yuan;
self-portrait has completed its entry into the domestic SKP shopping mall in Beijing The first offline self-operated store and the official Tmall flagship store were launched, achieving operating income of 1.9566 million yuan and a gross profit margin of 83.02%.
Liu Li, an analyst at China Merchants Securities, said that due to the impact of the epidemic, the apparel industry was under multiple pressures from declining revenue, profits, and operating cash flow in the first half of this year. However, some leading companies, such as Disu Fashion, have actively implemented reforms. After years of optimization and adjustment, they have proven their strength in adversity. While their performance exceeded expectations, various operating indicators have steadily improved.Turn.
Observation shows that in the first half of the year, under the influence of the epidemic, clothing retail sales of retail enterprises above designated size fell by 21.8%, of which online retail sales fell by 2.9%, and offline sales were expected to fall by about 30% due to the reduction in passenger flow. All leading brands, without exception, showed signs of decline in revenue, especially the revenue of A-share apparel leaders fell by 28%.
The spread of the epidemic has led to a reduction in offline store customer flow, and some brands are selling through store live broadcasts and WeChat Moments marketing; in terms of channels, department stores and shopping malls have launched rent reduction or rent-free preferential policies, and the number of leading brand stores There have been no large-scale closures. Structural adjustment is still ongoing. On the one hand, for the purpose of “stopping bleeding”, the closure of loss-making and inefficient stores will be accelerated; on the other hand, the epidemic will also cause small and medium-sized brands to accelerate their withdrawal from the market, the cost of acquiring high-quality shops will be reduced, and channel concentration is expected to increase .
Liu Li judged that the impact of the short-term epidemic on the industry has been reflected. In the medium and long term, the epidemic will accelerate the reshuffle of the industry. Leading companies in the segment have continued to consolidate their internal strength over the years and improve their core around products, channels, supply chains and other levels. Competitiveness, while relying on mergers and acquisitions to incubate new brands to expand the company’s scale, is expected to turn crises into opportunities. </p
