Late brand awakening, who will be the next Del Hui?
Date: 2018-01-16 15:37
This winter, it is particularly cold for shoe companies in Jinjiang, Fujian. Before New Year's Day, in the announcement of disposal of a debt asset package issued by the local official media “Fujian Dailyâ€, it had relied on Jay Chou’s endorsement and advertising language Deerway, and On The Way’s nationally renowned sports shoe brand Delphi was altogether over 600 million. In the case of yuan debt, Delphi's multiple assets, including plant, land, and warehouses, were listed for mortgage auctions.
Just five months ago, on August 5, 2017, another well-known shoe company in Jinjiang, Xi Delong, was also publicly announced by Jinjiang City Court for bankruptcy and reorganization because of debt problems.
Relying on the footwear industry, Jinjiang, a small fishing village located on the southeast coast, has developed into one of the richest county-level cities in the country after the reform and opening up. In 2005, Hongxing was listed in Singapore. In 2007, Anta landed on the Hong Kong Stock Exchange. Before and after 2009, many well-known brands such as Xtep, Peak, and 361 entered the capital market. Jinjiang shoe companies entered their peak period, with a population of 2 million in the region. More than one-third of people live around the shoemaking industry chain.
However, for the Jinjiang footwear industry, the peak is only the short-lived point of the steep parabola in their growth trajectory. Behind the tide of listing is the closure of hundreds of small and medium-sized shoe factories. In 2011, Hongxing Erke suspended trading on the Singapore Stock Exchange for alleged financial frauds, marking the beginning of a dilemma for large shoe companies.
With the bankruptcy of Xi Delong and Del Hui, consumers who used to know them are not satisfied, but inside the Jinjiang shoe circle, they are surprisingly calm. In 2011, shoes made in Jinjiang have been sold for years. A shoe factory owner who once worked at a local shoe-makers association lamented Tencent's Prism. For him, the decline of the shoe brand in Jinjiang is more like a late implementation ceremony after the final judgment.
Grasshoppers, cottages, brands, capital, expansion, and depravity, Jinjiang are drifting away from the shoes.
Jinjiang Business People's Late Brand Awakening
Similar to the coasts of Jiangsu and Zhejiang, the Jinjiang River is poor and has scarce resources. This is not a soil that can breed agricultural civilization. During the Ming and Qing Dynasties, the southern Fujianese became the main force of the Nanyang. After the reform and opening up, the overseas Chinese returned to China and Jinjiang found a way to survive. The owner of an underwear factory in Jinjiang, just because of the overseas Chinese sister's return to China, learned that there was such a thing as a bra. So he took down the research and made a fortnightly sale from thirty to fifty self-produced shops and gradually developed into a mass production plant.
Jinjiang shoe owners have the same experience. Ding Jiantong of 361 relied on the two thousand yuan raised from the fishing of the land and the wages of the migrant workers. In his living room, he built a family workshop with 5 pairs of Nissan shoes. Pick Jingjing Xu used the savings from his pull-up cart to open a sports shoe factory. Tebu Ding Shuibo and the sister brothers each invested 500 yuan to build slippers on the edge of the village by the river.
Like Jiangsu and Zhejiang, Jinjiang’s bosses can endure hardships and learn abilities. One is relying on shoes to make money while the other is swarming. A local shoe factory owner described Tencent's "Prism", but he also believes that unlike Zhejiang merchants, the Jinjiang businessmen are more concentrated in township entrepreneurs. They will not go to real estate to buy the bottom, as Wenzhou people do. Good at using the gold, the overall is more conservative, the business development is usually tepid, there is no particularly good things, there is nothing particularly bad.
Shijiabangwei, a Zhejiang shoe and apparel company that was founded in 1995, relied on the OEM model of its flagship brand. It soon began to establish the Jinjiang shoe company around 1990, but it has long been willing to make OEMs for Adi and Nike. Until 1998, only under the strong guidance of the government began to realize the concept of brand building, put forward the implementation of regional brand strategy, and occupy the market's dominance. By 2004, the Jinjiang municipal government was still spending more than 18 million yuan to reward the previous year's brand-building, certification, and bidding companies, encouraging companies to go global.
To be precise, around the year 2005, a group of shoe owners who took the lead in putting their heads off their shoulders had finally begun to raise their sleeves on the road to branding: In the 2006 World Cup in Germany, 25% of CCTV5's advertisements came from the Jinjiang brand and were taken for granted. For the Jinjiang Channel, the story of building a brand in Jinjiang also started overnight.
In 2003, Delphi signed 10 million yuan in two years with Jay Chou; in 2005, Xtep 8 million bid for Nanjing National Games sponsor, did not think that Mizuno from Japan took 10 million half-way to kill. As a result, Ding Shuibo, who had just left Nanjing, immediately returned and raised the price tag to 15 million. In the same year, Peak’s $4 million became a sponsor of Yao Ming’s NBA team’s Houston Rockets home Toyota Center.
Pike Billboard on NBA Stadium
Some swords go to the front. In 2000, the Jordan brand established in Jinjiang, relying on the same name as the United States, Jordan, to shape the brand image and market status. In 2012, Michael Jordan sued China Jordan. After a three-year lawsuit, the Beijing Higher People’s Court of Final Appeal defeated Jordan in 2015. The dissatisfied basketball god continued to appeal to the National High Court and finally won the lawsuit at the end of 2016. However, in July last year, because of the sponsorship of the Tianjin National Games, China’s defeated Jordan received a lawyer letter from the United States. The brand was in deep depression. The reluctant China’s Jordan counterclaimed the lawyer’s letter and infringed its reputation and claimed 1.1 million.
Despite brand awakening, in this batch of avant-garde bosses, Jinjiang merchants still maintain certain characteristics. A practitioner who has served as an executive in a number of Jinjiang shoe enterprises once summed up with Tencent's Prism. Compared with Zhejiang merchants, Jinjiang merchants have a more family-oriented concept, and when they are bigger, the professional managers survive in the enterprise. Not as good as Jiangsu and Zhejiang, Jinjiang merchants are not as hug-witted as Zhejiang merchants, and there is not much intersection and mutual assistance among enterprises.
A local shoe company who once had a middle-sized shoe company recalled to Tencent's Prism. Peiking Xu Jingnan, like everyone else, listed in the two years before its listing, suddenly became big after the IPO, and it was in contact with its own small-scale enterprise. There is a sudden loss. For those shoe companies that created national brands, the boss did not think it was great.
After a short capital feast
Around 2008, due to the reduction of foreign trade orders and the appreciation of the renminbi, many small and medium-sized shoe factories that made a living from export processing failed to survive the impact. At that time, those big Jinjiang shoe companies entered the capital market and enjoyed the capital feast.
Looking back now, compared with the early closure of the small and medium-sized factories, those brands that took the lead in expanding the size of the Jinjiang shoe ultimately failed to escape this industrial upgrade.
In the early days, these Jinjiang shoe companies that entered the capital market did reflect differences. In the two years after its listing, 361 (01361.HK) achieved a revenue of 5.5 billion yuan, an increase of 30% from the time of listing in 2009, a net profit of over 900 million, and exceeded 1.1 billion, surpassing the billion threshold; Xtep International (01368. HK) The revenue for listing in 2008 was only 2.8 billion yuan, the highest peak in 2012 reached 5.5 billion yuan, and the net profit also broke through from 500 million yuan to 1 billion yuan; in 2011, Peak Sports (01968.HK) 4.7 billion yuan. Revenue and 800 million net profit.
Listed shoe companies can get out of the trend of the entire Jinjiang footwear industry to come out, to a large extent thanks to listing financing, has a rapid exaggeration of capital, and this expansion is again reflected in the number of open stores. According to the Hong Kong stocks financial report, in June 2008, the number of 361 authorized retail outlets was 4,632. In 2011, the number reached 6,681, an increase of 66%; in 2011, Xtep also increased from less than 3,000 stores to 7,596; Peak was in 2009. On the basis of 6000 stores, it has reached nearly 8,000 in two years.
361 shoe workshop
At that time, everyone also compared each other and opened many stores, thousands of new shops opened every year, and the government also supported it. At that time, there was an official competition ranking to see who was able to compare them and everyone was proud of it. A shoe company owner in Jinjiang recalled to Tencent “Prism†that building more factories and opening more stores is the inertia of the bosses of Jinjiang.
Relying on a purely vertical expansion model, of course, it can be fragile. In the face of e-commerce shocks, consumer upgrades, and overcapacity, the tactics of expanding stores soon became falsified. Before Delphi and Xidron collapsed, Jinjiang shoe enterprises had already collectively indulged: as of 2016 financial statements, net profit of 361 had fallen to 400 million yuan, less than half of that at the time of listing; Xtep International’s net profit of 500 million yuan was equal to that at the time of listing; Sports delisted from Hong Kong stocks in 2016; Guiren Bird (603555.SH) pushed hard into A shares in 2014. Its first-year results did not look so good. Revenue and net profit fell by 20% and 26% respectively from the same period of last year before the listing.
When Jinjiang shoe enterprises are still expanding, there is research report analysis that Jinjiang brand convergence in the positioning and operation model leads to their own lack of characteristics, companies have little difference in capabilities. The latecomers are familiar with the success of the first-line companies and can quickly catch up if they can grasp the opportunities for growth in the industry. When the industry entered the adjustment period, the competitive landscape was solidified, making it difficult for these brands to produce true breakouts.
A senior executive who once worked for OEMs for a number of listed shoe companies told Tencent “Prism†that for them, listing and opening a store were only superficial. At that time, a large number of shoe companies had problems with the capital chain, and only a few had Health, even if it is a listed company, they do not allow credit.
After the problems with the head company of Jinjiang Footwear, the entire industry chain also suffered a fatal blow. The above-mentioned executives of the executive services collapsed a few years ago. He himself also traveled to Zhejiang, completely away from the Jinjiang shoe ring. The owner of a medium-sized shoe factory that has been in contact with the “Prism†of Tencent since the end of the 1980s started to engage in shoe-making and OEM business. It also suffered bankruptcy around 2015. He once planned to make a lifetime shoe, now Can only avoid debt.
For large brand companies, the government has been supporting and helping them. They don’t want them to close down. But now the government has no ability or need to do so. Delhui and Hi Delong’s collapse can’t blame anyone and the aftermath is being handled. Bosses are also looking for new outlets. Dr. Lu Qinghua, director of the Center for Business Research and Development at Huaqiao University in Quanzhou, told Tencent "Prism."
In the 13th Five-Year Plan of Quanzhou City, the automotive and integrated circuit industries have been developed as key industries in the future. The “Statistical Communiqué of the 2016 National Economic and Social Development of Jinjiang City†shows that the regional GDP was 174.4 billion yuan and the footwear industry output value was 1009. Billion yuan, accounting for 58%, and in 2012, this number was 70%.
Having experienced the transition period a few years ago, the Jinjiang region's economy can be said to have relinquished its dependence on the footwear industry. Lu Qinghua said.
Who will be the next Del Hui?
With the transformation of users, transformation of localities, and the downturn of the industry, the surviving Jinjiang brand still has to continue to live.
At the beginning of 2015, Ding Shuibo made special tactics for the return of sports from 3,000 dealers in the special ordering meeting. It has always favored the special steps of entertainment stars like Nicholas Tse and Han Geng, hoping to turn from casual sports brands to professional sports brands. 361 invested in ONE WAY, a Nordic outdoor sports brand, and created 361 outfits, which made efforts in professional sports and children's wear. After listing in 2014, Guiren Bird attempted to invest in many assets including sports games, sports insurance, and sports media, and hoped to rely on sportswear. After a delisting, Peak also expressed the need to establish an industrial ecosystem including sporting goods, sports events, sports big data and media.
In fact, diversification and full physical education already have pioneers. The Pathfinder (300005.SZ), a professional outdoor sports player, was forced by the downward pressure on the footwear industry. Since 2013, he has been involved in airline tickets, ski resorts, and outdoor travel online platforms to expand business categories, but it has not brought A fundamental change. In the second half of last year, Pathfinder who trod around in a circle announced that he would return to the main business of outdoor sports equipment. The whole sports and ecosystem concept is not a magic drug. In the Jinjiang listed shoe company, from 2011 to date, its share price almost all of them.
To some extent, An Ta Ding Shizhong may be the only one among the bosses of Jinjiang shoe companies who really jumped out of the thinking of township entrepreneurs. In 2004, Ding Shizhong, who did not lack funds, saw Li Ning's success, resolutely broke the concept of family business, and decided to let the company go public. In 2009, Anta acquired FILA, an international brand, and started a multi-brand strategy.
After the decline in 2012 and 2013 results, Anta Sports (02020.HK) had a revenue of 13.4 billion in 2016 and a net profit of 2.4 billion, which doubled from the trough in 2012. Its share price has risen from the lowest of HK$3 in 2012 to the latest HK$38/share, making it the only sample of Jinjiang shoe companies that has been approved by the market.
For the once brutal growth of the Jinjiang shoe company, the most brilliant period has long passed, to live, it is bound to have his own characteristics and extraordinary people, can understand their industrial restructuring and transformation, but the shuffle will continue, The eliminated, or doomed to be eliminated, this is normal again. For the future of Jinjiang shoe companies, Lu Qinghua made such comments on Tencent's Prism. When will the next Del Hui and Xi De Long appear in Jinjiang, who will it be?
Source: prism
Date: 2018-01-16 15:37
This winter, it is particularly cold for shoe companies in Jinjiang, Fujian. Before New Year's Day, in the announcement of disposal of a debt asset package issued by the local official media “Fujian Dailyâ€, it had relied on Jay Chou’s endorsement and advertising language Deerway, and On The Way’s nationally renowned sports shoe brand Delphi was altogether over 600 million. In the case of yuan debt, Delphi's multiple assets, including plant, land, and warehouses, were listed for mortgage auctions.
Just five months ago, on August 5, 2017, another well-known shoe company in Jinjiang, Xi Delong, was also publicly announced by Jinjiang City Court for bankruptcy and reorganization because of debt problems.
Relying on the footwear industry, Jinjiang, a small fishing village located on the southeast coast, has developed into one of the richest county-level cities in the country after the reform and opening up. In 2005, Hongxing was listed in Singapore. In 2007, Anta landed on the Hong Kong Stock Exchange. Before and after 2009, many well-known brands such as Xtep, Peak, and 361 entered the capital market. Jinjiang shoe companies entered their peak period, with a population of 2 million in the region. More than one-third of people live around the shoemaking industry chain.
However, for the Jinjiang footwear industry, the peak is only the short-lived point of the steep parabola in their growth trajectory. Behind the tide of listing is the closure of hundreds of small and medium-sized shoe factories. In 2011, Hongxing Erke suspended trading on the Singapore Stock Exchange for alleged financial frauds, marking the beginning of a dilemma for large shoe companies.
With the bankruptcy of Xi Delong and Del Hui, consumers who used to know them are not satisfied, but inside the Jinjiang shoe circle, they are surprisingly calm. In 2011, shoes made in Jinjiang have been sold for years. A shoe factory owner who once worked at a local shoe-makers association lamented Tencent's Prism. For him, the decline of the shoe brand in Jinjiang is more like a late implementation ceremony after the final judgment.
Grasshoppers, cottages, brands, capital, expansion, and depravity, Jinjiang are drifting away from the shoes.
Jinjiang Business People's Late Brand Awakening
Similar to the coasts of Jiangsu and Zhejiang, the Jinjiang River is poor and has scarce resources. This is not a soil that can breed agricultural civilization. During the Ming and Qing Dynasties, the southern Fujianese became the main force of the Nanyang. After the reform and opening up, the overseas Chinese returned to China and Jinjiang found a way to survive. The owner of an underwear factory in Jinjiang, just because of the overseas Chinese sister's return to China, learned that there was such a thing as a bra. So he took down the research and made a fortnightly sale from thirty to fifty self-produced shops and gradually developed into a mass production plant.
Jinjiang shoe owners have the same experience. Ding Jiantong of 361 relied on the two thousand yuan raised from the fishing of the land and the wages of the migrant workers. In his living room, he built a family workshop with 5 pairs of Nissan shoes. Pick Jingjing Xu used the savings from his pull-up cart to open a sports shoe factory. Tebu Ding Shuibo and the sister brothers each invested 500 yuan to build slippers on the edge of the village by the river.
Like Jiangsu and Zhejiang, Jinjiang’s bosses can endure hardships and learn abilities. One is relying on shoes to make money while the other is swarming. A local shoe factory owner described Tencent's "Prism", but he also believes that unlike Zhejiang merchants, the Jinjiang businessmen are more concentrated in township entrepreneurs. They will not go to real estate to buy the bottom, as Wenzhou people do. Good at using the gold, the overall is more conservative, the business development is usually tepid, there is no particularly good things, there is nothing particularly bad.
Shijiabangwei, a Zhejiang shoe and apparel company that was founded in 1995, relied on the OEM model of its flagship brand. It soon began to establish the Jinjiang shoe company around 1990, but it has long been willing to make OEMs for Adi and Nike. Until 1998, only under the strong guidance of the government began to realize the concept of brand building, put forward the implementation of regional brand strategy, and occupy the market's dominance. By 2004, the Jinjiang municipal government was still spending more than 18 million yuan to reward the previous year's brand-building, certification, and bidding companies, encouraging companies to go global.
To be precise, around the year 2005, a group of shoe owners who took the lead in putting their heads off their shoulders had finally begun to raise their sleeves on the road to branding: In the 2006 World Cup in Germany, 25% of CCTV5's advertisements came from the Jinjiang brand and were taken for granted. For the Jinjiang Channel, the story of building a brand in Jinjiang also started overnight.
In 2003, Delphi signed 10 million yuan in two years with Jay Chou; in 2005, Xtep 8 million bid for Nanjing National Games sponsor, did not think that Mizuno from Japan took 10 million half-way to kill. As a result, Ding Shuibo, who had just left Nanjing, immediately returned and raised the price tag to 15 million. In the same year, Peak’s $4 million became a sponsor of Yao Ming’s NBA team’s Houston Rockets home Toyota Center.
Pike Billboard on NBA Stadium
Some swords go to the front. In 2000, the Jordan brand established in Jinjiang, relying on the same name as the United States, Jordan, to shape the brand image and market status. In 2012, Michael Jordan sued China Jordan. After a three-year lawsuit, the Beijing Higher People’s Court of Final Appeal defeated Jordan in 2015. The dissatisfied basketball god continued to appeal to the National High Court and finally won the lawsuit at the end of 2016. However, in July last year, because of the sponsorship of the Tianjin National Games, China’s defeated Jordan received a lawyer letter from the United States. The brand was in deep depression. The reluctant China’s Jordan counterclaimed the lawyer’s letter and infringed its reputation and claimed 1.1 million.
Despite brand awakening, in this batch of avant-garde bosses, Jinjiang merchants still maintain certain characteristics. A practitioner who has served as an executive in a number of Jinjiang shoe enterprises once summed up with Tencent's Prism. Compared with Zhejiang merchants, Jinjiang merchants have a more family-oriented concept, and when they are bigger, the professional managers survive in the enterprise. Not as good as Jiangsu and Zhejiang, Jinjiang merchants are not as hug-witted as Zhejiang merchants, and there is not much intersection and mutual assistance among enterprises.
A local shoe company who once had a middle-sized shoe company recalled to Tencent's Prism. Peiking Xu Jingnan, like everyone else, listed in the two years before its listing, suddenly became big after the IPO, and it was in contact with its own small-scale enterprise. There is a sudden loss. For those shoe companies that created national brands, the boss did not think it was great.
After a short capital feast
Around 2008, due to the reduction of foreign trade orders and the appreciation of the renminbi, many small and medium-sized shoe factories that made a living from export processing failed to survive the impact. At that time, those big Jinjiang shoe companies entered the capital market and enjoyed the capital feast.
Looking back now, compared with the early closure of the small and medium-sized factories, those brands that took the lead in expanding the size of the Jinjiang shoe ultimately failed to escape this industrial upgrade.
In the early days, these Jinjiang shoe companies that entered the capital market did reflect differences. In the two years after its listing, 361 (01361.HK) achieved a revenue of 5.5 billion yuan, an increase of 30% from the time of listing in 2009, a net profit of over 900 million, and exceeded 1.1 billion, surpassing the billion threshold; Xtep International (01368. HK) The revenue for listing in 2008 was only 2.8 billion yuan, the highest peak in 2012 reached 5.5 billion yuan, and the net profit also broke through from 500 million yuan to 1 billion yuan; in 2011, Peak Sports (01968.HK) 4.7 billion yuan. Revenue and 800 million net profit.
Listed shoe companies can get out of the trend of the entire Jinjiang footwear industry to come out, to a large extent thanks to listing financing, has a rapid exaggeration of capital, and this expansion is again reflected in the number of open stores. According to the Hong Kong stocks financial report, in June 2008, the number of 361 authorized retail outlets was 4,632. In 2011, the number reached 6,681, an increase of 66%; in 2011, Xtep also increased from less than 3,000 stores to 7,596; Peak was in 2009. On the basis of 6000 stores, it has reached nearly 8,000 in two years.
361 shoe workshop
At that time, everyone also compared each other and opened many stores, thousands of new shops opened every year, and the government also supported it. At that time, there was an official competition ranking to see who was able to compare them and everyone was proud of it. A shoe company owner in Jinjiang recalled to Tencent “Prism†that building more factories and opening more stores is the inertia of the bosses of Jinjiang.
Relying on a purely vertical expansion model, of course, it can be fragile. In the face of e-commerce shocks, consumer upgrades, and overcapacity, the tactics of expanding stores soon became falsified. Before Delphi and Xidron collapsed, Jinjiang shoe enterprises had already collectively indulged: as of 2016 financial statements, net profit of 361 had fallen to 400 million yuan, less than half of that at the time of listing; Xtep International’s net profit of 500 million yuan was equal to that at the time of listing; Sports delisted from Hong Kong stocks in 2016; Guiren Bird (603555.SH) pushed hard into A shares in 2014. Its first-year results did not look so good. Revenue and net profit fell by 20% and 26% respectively from the same period of last year before the listing.
When Jinjiang shoe enterprises are still expanding, there is research report analysis that Jinjiang brand convergence in the positioning and operation model leads to their own lack of characteristics, companies have little difference in capabilities. The latecomers are familiar with the success of the first-line companies and can quickly catch up if they can grasp the opportunities for growth in the industry. When the industry entered the adjustment period, the competitive landscape was solidified, making it difficult for these brands to produce true breakouts.
A senior executive who once worked for OEMs for a number of listed shoe companies told Tencent “Prism†that for them, listing and opening a store were only superficial. At that time, a large number of shoe companies had problems with the capital chain, and only a few had Health, even if it is a listed company, they do not allow credit.
After the problems with the head company of Jinjiang Footwear, the entire industry chain also suffered a fatal blow. The above-mentioned executives of the executive services collapsed a few years ago. He himself also traveled to Zhejiang, completely away from the Jinjiang shoe ring. The owner of a medium-sized shoe factory that has been in contact with the “Prism†of Tencent since the end of the 1980s started to engage in shoe-making and OEM business. It also suffered bankruptcy around 2015. He once planned to make a lifetime shoe, now Can only avoid debt.
For large brand companies, the government has been supporting and helping them. They don’t want them to close down. But now the government has no ability or need to do so. Delhui and Hi Delong’s collapse can’t blame anyone and the aftermath is being handled. Bosses are also looking for new outlets. Dr. Lu Qinghua, director of the Center for Business Research and Development at Huaqiao University in Quanzhou, told Tencent "Prism."
In the 13th Five-Year Plan of Quanzhou City, the automotive and integrated circuit industries have been developed as key industries in the future. The “Statistical Communiqué of the 2016 National Economic and Social Development of Jinjiang City†shows that the regional GDP was 174.4 billion yuan and the footwear industry output value was 1009. Billion yuan, accounting for 58%, and in 2012, this number was 70%.
Having experienced the transition period a few years ago, the Jinjiang region's economy can be said to have relinquished its dependence on the footwear industry. Lu Qinghua said.
Who will be the next Del Hui?
With the transformation of users, transformation of localities, and the downturn of the industry, the surviving Jinjiang brand still has to continue to live.
At the beginning of 2015, Ding Shuibo made special tactics for the return of sports from 3,000 dealers in the special ordering meeting. It has always favored the special steps of entertainment stars like Nicholas Tse and Han Geng, hoping to turn from casual sports brands to professional sports brands. 361 invested in ONE WAY, a Nordic outdoor sports brand, and created 361 outfits, which made efforts in professional sports and children's wear. After listing in 2014, Guiren Bird attempted to invest in many assets including sports games, sports insurance, and sports media, and hoped to rely on sportswear. After a delisting, Peak also expressed the need to establish an industrial ecosystem including sporting goods, sports events, sports big data and media.
In fact, diversification and full physical education already have pioneers. The Pathfinder (300005.SZ), a professional outdoor sports player, was forced by the downward pressure on the footwear industry. Since 2013, he has been involved in airline tickets, ski resorts, and outdoor travel online platforms to expand business categories, but it has not brought A fundamental change. In the second half of last year, Pathfinder who trod around in a circle announced that he would return to the main business of outdoor sports equipment. The whole sports and ecosystem concept is not a magic drug. In the Jinjiang listed shoe company, from 2011 to date, its share price almost all of them.
To some extent, An Ta Ding Shizhong may be the only one among the bosses of Jinjiang shoe companies who really jumped out of the thinking of township entrepreneurs. In 2004, Ding Shizhong, who did not lack funds, saw Li Ning's success, resolutely broke the concept of family business, and decided to let the company go public. In 2009, Anta acquired FILA, an international brand, and started a multi-brand strategy.
After the decline in 2012 and 2013 results, Anta Sports (02020.HK) had a revenue of 13.4 billion in 2016 and a net profit of 2.4 billion, which doubled from the trough in 2012. Its share price has risen from the lowest of HK$3 in 2012 to the latest HK$38/share, making it the only sample of Jinjiang shoe companies that has been approved by the market.
For the once brutal growth of the Jinjiang shoe company, the most brilliant period has long passed, to live, it is bound to have his own characteristics and extraordinary people, can understand their industrial restructuring and transformation, but the shuffle will continue, The eliminated, or doomed to be eliminated, this is normal again. For the future of Jinjiang shoe companies, Lu Qinghua made such comments on Tencent's Prism. When will the next Del Hui and Xi De Long appear in Jinjiang, who will it be?
Source: prism
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