Hailan House's performance growth slows down, second-generation successor hopes to inject new vitality

Source:中国经营报Date:2017/2/10 Click:0
Recently, Hailan Group (600398.SH), the parent company of the Chinese men's clothing brand, officially announced at the Pegasus Awards ceremony that the chairman of the group, Zhou Jianping, the son of Zhou Jianping, is the president of Hailan Group, and Zhou Jianping is still the chairman of the group. After entering the Hailan Group, Zhou Lizhen gradually led the Hailan House to move closer to young consumer groups.

Well-known economist Song Qinghui said, "At present, Hailan Group is actively exploring different fields and taking the road of transformation and development. Zhou Lizheng can inject young vitality into Hailan Group after taking over as the president of Hailan Group, but it will also face challenges from multiple factors. The reporter sent an interview letter to Hailan Group on related issues. The relevant person in charge of Hailan Group stated that the group currently has no interview coverage plan.

Hailan Group's second-generation succession challenges

Zhou Lizhen was born in 1988 and has worked for Zhixin Capital since graduation. Two years later, he returned to the headquarters of Hailan Group and later served as the general manager of Hailan House, a subsidiary of Hailan Group. He was recently announced as the president of Hailan Group.

Guo Yan, a professor at the Beijing Institute of Clothing Technology, told reporters, "Hailan Group's business is no longer limited to clothing itself. Zhou Lizhen, who has an age advantage, a financial background and investment work experience, is young and the Hailan Group's In terms of business operations such as investment and other business development in the future, it has a comparatively prominent advantage. "

It is understood that Zhou Lizhen took over the advertising department, commodity center and other departments during his tenure at Hailan House. During this period, he changed the advertising strategy of Hailan House, named and sponsored the popular video variety show, and increased the brand's attempts in the IP field. The frequency of Hailan House appearing in the eyes of consumers is increasing, and the way it appears is becoming more and more tide. Xue Danqing, a representative of Hailan House Securities, once stated publicly, "Since 2015, the fashion styles of Hailan House have reached 50% and will be more suitable for the needs of the post-80s and post-90s."

Gao Hao, director of the Global Family Business Research Center of the Wudaokou School of Finance at Tsinghua University, told reporters, "Second-generation succession will usually be three basic models-successors, entrepreneurs, and strategic investors. It is a single role, and all three of them may be reflected in him. "

According to the official website information of Hailan Group, in addition to operating apparel, Hailan Group has also established a company specializing in private equity investment, and has also entered commercial real estate and cultural tourism. Gao Hao said, "After taking over as the group's president, Zhou Liyi will consolidate and strengthen the group's industry and innovate in the traditional clothing industry to play the role of successor. Areas with large market potential and development space to achieve strategic transformation of enterprises. "

Gao Hao said, “Second-generation successors usually face qualifications, self-tests, environmental tests, and political tests. Qualification challenges are related to the experience and capabilities of new leaders before they take over. Zhou Lizhen, as a younger president, There may be some challenges and problems in this regard. "

"Usually, new leaders will propose new corporate development strategies and goals after succession. These goals usually have greater breakthroughs and progress than the existing situation. Whether or not these goals can be achieved is the self-test of the successor. The environmental test is that when an enterprise encounters some unexpected events, the successor's processing ability and effect will be examined internally and externally. "Gao Hao said. As early as Zhou Lizheng's tenure at the Hailan House, Zhou Lizheng actively tried and explored. After taking over the group, Zhou Lixuan's strategy is equally exciting.

He pointed out that the family business is the most vulnerable time when the company is inherited. The new leader means that the existing power, responsibility, and interest structure of the company will be broken. The power may be reorganized, which may change the business of many companies. Management behavior, daily work habits and interests pattern. As a result, someone may challenge the status of a new business leader. This political test is also a key factor for businesses and successors.

Slowdown in performance growth, hidden risks in inventory backlog

As the pillar industry of Hailan Group, in recent years, the apparel industry has continued to increase its performance against the background of the overall downturn in the apparel industry. According to the 2015 annual report of Hailan House, the annual operating income of Hailan House in 2015 was 15.83 billion yuan, up 28.3% year-on-year, and the net profit attributable to shareholders of listed companies was 2.953 billion yuan, up 24.35% year-on-year.

Guo Yan believes that "under the overall downturn in the apparel industry, the growth of Hailan House's performance is mainly due to innovation in business models, price advantages and clear positioning."

The reporter combed the Hailan House financial report and found that from January to September 2016, the company's operating income was 12.066 billion yuan, an increase of 6.56% over the same period last year. The net profit attributable to shareholders of listed companies was 2.414 billion yuan, an increase compared to the same period last year. 5.45%. In the first three quarters of 2015, the company's revenue increased by 39.04% year-on-year to 11.325 billion yuan, and the net profit attributable to shareholders of listed companies increased by 41.95% year-on-year to 2.29 billion yuan. Within one year, despite the increase in revenue and net profit of Hailan House, the growth rate slowed down significantly. Cao Lei, director of the China E-Commerce Research Center, told the China Business Daily that "in 2016, the penetration rate of online shopping in the apparel industry reached 36.9%. Currently, many apparel brands have begun to use the Internet platform, and online celebrity live broadcasts and online emergence in recent years Personalization and other methods have a greater impact on young consumer groups. "

He also pointed out that "the clothing industry is currently facing a relatively serious inventory problem. However, the inventory problem is not only caused by the inventory itself, but is largely caused by the improper management and supply chain operation." The reporter consulted Hailan Zhi The home financial report found that the risk of backlog of terminal inventory of Hailan House always exists. According to Hailan House's 2015 financial report, the inventory turnover days for the year were 298 days, an increase of 39 days from the previous year. According to "Beijing Business Daily" report, Hailan House's 2016 third quarter financial report shows that the inventory turnover days in this period increased by 56 days compared with the same period last year, and increased by 39 days from the interim report.

Guo Yan said, "When Hailan House purchases from upstream suppliers, Hailan House will not pay the full payment. If the products produced by the supplier cannot be sold in the Hailan House store, Hailan House Home has the right to return. In this way, Hailan Home itself does not bear too much inventory risk. "

Song Qinghui told reporters that "the relationship between Hailan House and suppliers is highly controversial in the industry." At the same time, he pointed out that "Hailan House's current business model also has hidden risks. For example, joining Hailan House requires Jiaotong University. The amount of margin has been dismissed by industry insiders as a “financial finance” disguised financing method. ”It is understood that in the past, the franchise store of Hailan Home had to pay a deposit of 1 million yuan, and the franchisee did not need to personally participate in the management of the store , Goods and store manager are all arranged by the headquarters. When the reporter called the Hailan House's franchise department, the staff told the reporter that Hailan House has not attracted investment since last year. The practice of paying a deposit is many years ago. The most recent approach before the suspension of recruitment is that the franchisee only needs Responsible for rent and renovation costs, no need to pay a deposit, daily operations and management is still the responsibility of the headquarters.

A Hailan House franchisee in Chengdu told reporters, "Although the joining mode of Hailan House has changed, from the past type of finance-the method of deposit payment to the subsequent payment of rent and decoration costs, the decoration is made by Hailan House. I'm responsible for it, the cost is much higher than the normal market price, and the profit of franchisees is now much lower than before. "

The reporter called the Hailan House franchise department on related issues. The staff said that the decoration of the franchise store was borne by the headquarters and the expenses were borne by the franchisees. The specific franchise needed to be interviewed by the company. Now Hailan House does not attract investment.

Song Qinghui believes that “the fast-developing Hailan Group is showing signs of fatigue in the face of strong rivals. A new force is urgently needed to achieve breakthroughs in fashion design and version upgrades. At this time, Zhou Liyu, 29, took over The president of the company is the best spokesperson. "