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American Stock Crisis Warning &Nbsp; Sports And Leisure Apparel Investment Has Been Saturated.

2012/3/21 16:29:00 21

According to ChinaVenture group analysis, the inventory crisis of Smith Barney is not enough because of the different inventory types and statistical methods.

Garment industry

Facing the overall business dilemma, this has raised early warning to the relevant enterprises and institutional investors.

As an important part of consumer goods, the clothing industry has been favored by many PE in recent years. However, the sportswear market frequently appearing in IPO in the past few years is now saturated and gradually fading out of investors' perspective.

In the future, leisure business men's wear and fashion women's clothing, focusing on high-end and high-end consumer groups, will have stronger investment value because of its stable demand, high added value, strong consumer purchasing power, relatively high brand loyalty and lack of local leading enterprises.

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The sub sectors of the industry, the garment industry and the home textile industry play a leading role in the whole industry. From the perspective of the industrial chain, the chemical fiber, textile and retail industries have issued the "12th Five-Year plan", which has benefited the whole industry chain, especially in the middle reaches of the garment industry.

Since 2007, a total of 82 Enterprises in the domestic garment industry have obtained VC/PE financing, with a total scale of 9 billion 427 million yuan, with an average investment of 114 million yuan.

Among them, the two largest financing cases occurred in this year. They are Italy Heji group's brand, L Capital and CITIC industrial fund 200 million dollars, and local sports clothing brand Lining 1 billion 34 million yuan to introduce strategic investors TPG and GIC.

From the scale of subdivision financing and the quantity distribution of cases, sports and casual wear accounted for 30.4% and 20.7% of the industry respectively. Footwear, men's clothing and women's clothing enterprises are also the hot spots of institutional investment.

Recently, many local enterprises, such as Lining, 002331.HK, PEAK (001968.HK), Anta (002020.HK) and other enterprises in 2011, have reported a slowdown in corporate profits and a weak growth in performance.

Due to the saturation of sports and casual wear market, the problems of excessive competition of domestic enterprises, loss of executives, the surge of stock in the past quarter, homogenization of products and blind expansion have led to problems. It is difficult for first tier cities to compete with international brands such as ADI, Nike and so on. The four tier cities have less purchasing power, and the performance of two or three tier cities is difficult to upgrade.

ChinaVenture group analysis shows that leisure business men's wear and fashion women's clothing, which focus on high-end consumer groups, are characterized by stable demand, high added value of products and strong purchasing power of consumers.

brand

With relatively high loyalty and lack of local leading enterprises, the industry development space is large, and PE institutions can pay close attention to it.

From an enterprise perspective, the introduction of PE institutions in addition to the hope of bringing funds to enterprises, more emphasis will be placed on whether organizations are rich in resources and experience in helping enterprises form a team of designers, developing channels and improving management efficiency.