Not long ago, the two Hong Kong stocks listed underwear companies both issued a profit warning, compared with the first half of last year, An Fang Fang over the same period this year, the overall sales fell by about 18%; urban beauty (02298.HK) net profit fell 35% to 40%.
For the decline in sales, An Lifei and urban beauty invariably attributed to the slowdown in economic growth, consumer intentions tend to be cautious, while the city also think that the rise of micro-business to bring some impact on its sales. For underwear this product, women will suddenly reduce the consumption of it? Female compatriots will really find micro-business to buy underwear it?
Will the decline in consumer demand fall?
Not long ago, the two Hong Kong stocks listed underwear companies both published earnings warning, compared with the first half of last year, An Fang's overall sales fell about 18%, operating more than 18 months of shops, same store sales also recorded more than 10 percentage points decline , While the number of retail outlets decreased by 30 compared to the end of December last year. Urban beauty is expected in the first half of this year, net profit fell 35% to 40% year on year.
Another A shares of underwear company Huijie shares (32.300, -0.10, -0.31%) in a quarterly forecast in the first half of this year, net profit changes in the range of 102 million to 140 million yuan, the range of change in -20% To 10%, while its net profit in the first half of 2015 reached 127 million yuan, an increase of 33.53%. Huijie shares said the performance changes in the first half of this year because of the new men's underwear brand Qiao Baishi, skin care products into a larger early.
It is noteworthy that the two Hong Kong stocks listed companies last year's net profit rose year on year. Urban incomes increased by 23.6% and 27%, respectively, to RMB4,953.4 million and RMB550 million respectively. Anritsu achieved revenue of HK $ 2.536 billion in 2015, an increase of 6.41%. Excluding exchange losses, net profit reached 2.23 Billion Hong Kong dollars, an increase of about 14% over the previous year.
In fact, in the past five years, urban beauty net profit to achieve positive growth, the average annual compound growth rate of more than 30%. For the first half of the decline in net profit, urban beauty that is the economic slowdown consumption to become cautious, the overall operating expenses rise, and micro-business development due. An Li-fang also believes that consumption concerns prudently lead to weak retail environment is an important reason for the decline in sales, in addition, the decline in gross margin, the overall operating expenses and the devaluation of the renminbi also led to this year's poor situation.
Economic down, women do not buy underwear? "Every business has its own stage of the goal, this goal may be and the economic cycle, and the environment is inconsistent. Underwear is a more just needed," said the company, Products, or firmly optimistic about the market prospects.
Micro-business development is rapid
Relying on the size of the streets around the shop, urban beauty accounted for 3.3% of the country's market share, but because of the rapid development of micro-net profit fell? The power of micro-business really so big?
"Daily Economic News" reporter contacted a main non-ring bra underwear brand micro-agent, which said, "We found the factory surface materials and first-line brand is the same, but no shop fees, star endorsements and other costs , So the price is cheaper than the first line brand.
Reporters in the brand official website to see, bra price of 200 yuan to 300 yuan. The micro-agent told reporters that you want to become a brand agent, just need to buy a try, and then pay 300 yuan agent fee can be, and sell a bra, the agent can make a net profit of seventy to eighty yuan.
Although it is not possible to know the size of the underwear business, but from its superior supplier sales scale can be a glimpse of its development. "Daily Economic News" reporter found that the underwear micro-business is a new board of three listed companies Kunshan takeoff underwear Technology Co., Ltd. (hereinafter referred to as take off underwear) the largest customer.
Take over underwear 2015 annual report shows that the company achieved annual operating income of 224 million yuan, net profit of 21.9067 million yuan, an increase of 83.52% year on year, 71.04%. Which on the micro-brand sales reached 73.2746 million yuan, accounting for 32.65% of annual sales.
For whether to consider doing business, urban beauty executives to accept the "Daily Economic News" reporter interviewed "no". Brand positioning than the city of high-end Amway, Huijie shares will still be the line as a business focus, Huijie shares in the 2015 annual report said that the future department store direct sales counters will remain the mainstream sales channels.
Yan Hongzhong to "Daily Economic News" reporter said that both online and offline, the future must be the whole channel development, "for consumers, the choice will only be more and more rich.
International big coveted the Chinese market
Not long ago, another Hong Kong stocks lingerie company Virginia released the 2015/16 earnings, as of March 31, net profit rose 39.3% year on year to about 466 million Hong Kong dollars, and its chest, sports bust and personal underwear business income An increase of 21.1%. With the city beauty, An Li-fang these directly for the end consumer underwear business different, Virginia mainly for the global underwear business and sports brands to provide design and foundry business, its customers include Victorias Secret (hereinafter referred to as Victoria), Bali, Maidenform, CalvinKlein and so on.
Compared to the domestic underwear market, Europe and the United States underwear market is more mature. These European and American underwear brand has long been satisfied with the stability of the European and American markets, is gradually to the potential of the Chinese market expansion.
According to media reports, Victoria will be out in Shanghai, China's first underwear flagship store, by the parent company L Brands straight. Victoria's retail stores in mainland China were operated by a Malaysian company and did not sell underwear. It is understood that the Italian luxury underwear brand La Perla, the German underwear brand Triumph (Triumph) will also increase stores in China, and extended to the market outside the mega-city.
In the international brand step by step pressing at the same time, the domestic market has more and more small and beautiful underwear vertical electricity business development. These vertical electricity business more emphasis on underwear design sense, at the same time as a result of the removal of the intermediate links, the price is more close to the people.
Public data show that in 2014 China's per capita consumption of consumer underwear is only 169 yuan, far lower than the United States, Britain and Japan 73.9 US dollars, 87.1 US dollars and 85 US dollars. According to the consulting firm Frost & Sullivan statistics, 2009 to 2013 China's personal clothing industry sales revenue from 113.7 billion yuan to 1944 billion yuan, the annual compound growth rate of 14.4%, by 2018 China's personal clothing sales of up to 455.3 billion yuan, Of which about 60% of women's underwear.