"Horse Race Enclosure": Semir Apparel Expansion Network Pformed Into American Landlord

The price of 156 million yuan, which is 3 times higher than the value of the evaluation, is announced. "

"After the news, Semir clothing needle to the high price of the underlying assets for a time to become a hot topic in the two cities.

However, after careful examination of the evaluation report of the target assets, the reporter found that the high premium of Semir clothing may have a deep meaning behind it, because the shop bought by Semir clothing this time is the competitor of the United States barrack clothing rental store.

However, after careful examination of the evaluation report of the target assets, the reporter found that the high premium of Semir clothing may have a deep meaning behind it, because the shop bought by Semir clothing this time is the competitor of the United States barrack clothing rental store.

Zong Huichun, a representative of Semir apparel and securities business, told reporters that he would set up his own network after the maturity of American bond.

United States: has not yet experienced opponents changed landlord

According to the public information of Semir costumes, the shop located at No. 236 Yanan Road, Shangcheng District, Hangzhou, Zhejiang, is located in a complex building with a total of 6 floors, with a floor area of 2637.77 square meters. 1 to 4 floors of the shop are leased to Hangzhou Bang Wei Clothing Co., Ltd. for storefront use, with a lease area of 1758.51 square meters, and the lease period ended as of February 28, 2013.

according to

Public information shows that the Hangzhou Bang Wei Garments Co., Ltd. was founded in August 1996, with a registered capital of 10 million yuan. It is a wholly owned subsidiary of American Apparel.

Zhuang Tao, an American Apparel and securities representative, told reporters that when the store is open, it should be market-oriented.

When a reporter asked how much income the store had contributed each year, it said it would not disclose such detailed data.

But when Semir suddenly became a landlord of its own store, Zhuang Tao said, "no one has ever met".

"Never heard of it," said Cheng Yuan, a joint analyst at the apparel industry.

Cheng Yuan believes that Semir clothing is to use the advantages of capital to occupy favorable terrain, while building its own outlets, it can also pull out the competitors' network.

However, Semir dress is more calm about this.

Zong Huichun, Semir apparel and securities affairs representative, told reporters that the company did not intend to take the shop of Smith Barney clothing, but now it has not yet arrived, but there is always a deadline. After the lease expires, the company will set up its own network.

Analyst: two confrontation or reappearance

In fact,

The two casual wear enterprises have always been the focus of attention. In Semir, bang Wei, YISHION, Baleno, JEANSWEST, Giordano and many other casual wear brands, only Semir clothing and American Apparel are listed companies. The market will often compare the two, and both have their own advantages.

　　记者注意到，在网点方面，截至2011年底，森马品牌终端店铺达4000多家 (直营+加盟)，另一个巴拉巴拉童装品牌终端店铺达3000多家，而美邦服饰直营店1130家、加盟3663家，共计4793家，就店面数量而言，森马领先;就毛利率来看，森马服饰主营业务毛利率37.8%、综合毛利率37.38%，而美邦服饰主营业务毛利率43.96%，其中直营店和加盟店综合毛利率44%，这方面美邦服饰占优;虽然美邦服饰综合毛利率高，但其2011年99亿元的营收仅实现了12亿元的净利润，而森马服饰2011年的营收虽然为77亿元，但其净利润同样也达到了12亿元的水平;货币资金方面，由于上市不久，森马服饰手握近50亿元的真金白银，而美邦服饰的货币资金大概为10亿元左右。

What is worth mentioning is the market distribution of the two. From the 2011 Annual Report, Semir's clothing position is mainly concentrated in the central and large areas (the revenue is 4 billion 215 million yuan), while the main position of the United States apparel is in the eastern region (the revenue is 11 billion 573 million yuan).

Judging from the specific division of the two regions, it seems that the two companies do not have much to contribute to the main revenue contribution.

But this situation will change with the expansion plan of Semir clothing.

In the marketing network construction project of Semir clothing, we can see that many new outlets planned by the company are located in the eastern part of Hangzhou, Ningbo, Shanghai, Wenzhou, Guangzhou, Xiamen and so on, that is, they will accelerate to the core of the American state dress camp. Therefore, it is not surprising to see such things as American landlords and landlords.

Analyst Cheng Yuan said that Semir clothing now has the advantage of capital, such events may happen again in the future development of the two sides, but there are many stores in the United States have bought their own property rights, this situation Semir is unable to move.