After entering 2019, Shanghai La Chapelle Clothing Co., Ltd. (hereinafter referred to as "La Chapelle"), which was once known as "national women's wear", ushered in the "first loss of listing" in the first quarter.

According to its first quarterly results report for 2019, during the period, La Chapelle achieved revenue of 2.372 billion yuan, a decrease of 6.94% from the revenue of 2.548 billion yuan in 2018; net profit attributable to shareholders of listed companies was 9.751 million yuan. Year fell by 94.4%.

In addition, based on the current situation of sales, gross profit decline, and transformational measures such as business transformation adjustment, cost reduction and efficiency increase, the company may have a negative impact on the company's performance. La Chapelle proposed a warning in this report: expected January 2019 The net profit attributable to shareholders of listed companies may fall by more than 50% in June.

Accelerating the transformation of 200 million shares of e-commerce subsidiaries

On the evening of May 7, La Chapelle issued three disclosure announcements in succession, intending to sell 54.05% of the equity of the holding subsidiary Hangzhou Wax E-Commerce Co., Ltd. (hereinafter referred to as “Hangzhou Trek”), and the equity transfer price of the transaction was 200 million. yuan.

La Chapelle said in the announcement that the sale is a decision made by the company based on accelerating transformation and making business adjustments. At present, La Chapelle is in the key stage of sorting out the existing brand matrix according to the company's development strategy and concentrating its superior resources to play the core brand's competitive advantage.

Market investors believe that the asset integration is related to the company's “first-quarter net profit fell by 94.4% year-on-year”. “It may be just the beginning, and there may be more integration trends in the future.”

In response to the concerns of the shareholders, the reporter specifically called the Rachael IR Department to inquire, and did not receive further explanation of the acquisition before the issue.

Store expansion "speeding" design homogeneity is serious

For a long time in the past, La Chapelle was once considered to be the leading women's brand that is “the best in the country”.

According to the data, La Chapelle Apparel Co., Ltd. was established in 1998. It has positioned itself as a “multi-brand fashion operation enterprise” on the external scale. It was listed on the main board of the Hong Kong Stock Exchange in 2014 and was listed on the Shanghai Stock Exchange in 2017. Listing.

La Chapelle has 12 brands including La Chapelle, Puella, UlifeStyle, Candie's and La Babité, and invests in seven brands, OTHERMIX, OTR, Siastella, INMIX, Segafredo, Champa, and Dream Life. As of June 30, 2017, La Chapelle had a total of 9,068 retail outlets covering 2,745 department stores and shopping centers.

This scale can be said to be quite "amazing". Compared with the Inditex Group, which has entered the Chinese market in 2006 and has Zara, Pull & Bear, Bershka and other brands, as of the end of FY2017, the total number of stores opened by Inditex Group in several brands in China is There are 593 stores, of which Zara has 183 stores, and there are more than 7,000 stores in the world. For the "super speed" of La Chapelle's store expansion in recent years, both in the comments of the apparel industry and in the reports of market investment institutions, basic consensus can be formed.

However, when reporters visited the stores of La Chapelle's brands, they found that there are homogenizations in design and pricing, whether they are original brands or investment brands.

Take the example of several sub-brand costumes displayed in the flagship store of Oriental Ginza in Beijing. At present, it is a style of “urban light mature woman” or “retro sport”. It uses a lot of chiffon and print details. distinguish. In terms of pricing, most dresses and suits cost more than 300 yuan. They compete with international fast fashion brands such as Zara and H&M, and they do not have a price advantage.

Source: Beijing News Author: Zhou Hongyan