Lining Has Been Out Of The Trough Since Last Year. At Present, The Market Value Has Broken 20 Billion To See Where He Will Go Next.

In the fashion week of New York, Lining has earned enough attention and enthusiasm. How wonderful will Lining be in Paris fashion week?

With the revival of fashion retailing, the performance of domestic sportswear brands is also significantly warming.

Lining's (02331.HK) share price rose more than 6% to HK $9.73 per share in June 12th, and Anta sports (02020.HK) also rose sharply. Since the beginning of this year, Lining's stock price has increased by more than 30%, and its market value is on the 20 billion line.

Over the past 10 years, Gym shoes The share of clothing and shoes in the world increased steadily from 14.7% in 2007 to 17.7% in 2017. According to the latest report released by CBNData, the first financial and business data center, with the continuous upgrading of consumption, young consumers in China after 90's 00 have gradually lost interest in international fast fashion brands such as Zara and H&M. Domestic clothing is rising.

HSBC analysis pointed out that the quality of Anta, Lining and other high quality brands with the same store growth and steady expansion of the store revenue growth, and the improvement of profitability resulting from the improvement of turnover efficiency, become the main driving force to support the upward trend of valuation.

Last year, Lining's income increased by 10.7% to 8 billion 874 million yuan (RMB, the same below), gross profit increased by 12.7% to 4 billion 180 million yuan, and gross margin increased 0.8 percentage points to 47.1%. In the same store sales, Lining sales increased by 10% to 20% in the first quarter of this year, of which retail and wholesale channels recorded 10% to 20% and the number of units increased, and e-commerce increased significantly by 30% to 40%.

Recently, Lining quietly launched a small program mall. The small program mall has products of men's and women's shoes, children's shoes, men's wear and women's wear. The group said it will further integrate multiple brand resources into the electronic business platform in the future, forming the resultant force of shop matrix and shop matrix from the media.

From a continuous loss of about 3000000000 to a profit, Lining reversed for only a year.

It is noteworthy that Lining's first appearance in February this year was a stunning fashion week in New York. Although the western fashion language system was introduced, the whole show used Chinese elements, representing the classic color of the Chinese Olympic Games. The turn to let Lining in the middle and high-end market gradually consumers chase, brand hope gradually establish brand loyalty in the hearts of consumers, let local consumers feel that "wearing 1000 yuan of Lining, no more than wearing 1000 yuan Nike, Adidas poor".

A report released earlier by McKinsey said that the global fashion industry will create an incremental market of $2 trillion and 500 billion in 2018. And several emerging markets led by Asia will be the main thrust of the global fashion industry's growth. With the shift of the global fashion market to the East, it has also given the domestic fashion brand a broader expectation and market prospect. No one wants to see the rise of domestic brands more than Chinese consumers, but conquering consumers must be good products.

But as Adidas, Nike and other international brands and celebrities jointly create a series of sports shoes, as well as the main market segments of women, fitness and other niche sports brands are sought after by the market. Lining realized that from stop loss to return to the leading position of the industry, we must adapt to the new trend of the current movement and fashion penetration.

In 2010, Lining's sales jumped to 9 billion 478 million yuan, only a step away from 10 billion, but then began to slide. Ceng Huafeng, chief financial officer of Lining, said at the beginning of this year that the 2018 target was growth in the number of units, which means that Lining will enter the 10 billion club for the first time.

Credit Suisse earlier predicted that Lining's net profit from 2018 to 2019 would be 6.92 billion and 912 million yuan plus its own 2 billion 300 million cash and cash equivalents. This caused the industry to catch up with Lining. industry First, Anta sports conjecture. Relevant data show that Lining's price earnings ratio is 38 times, Anta is 30 times, but Lining's market value is only 15% of Anta, which means that Lining has the possibility of being underestimated, and there will still be room for growth in the future.

Some sources said that in order to further fashion For the right to speak, Lining will launch a new series in Paris men's wear week in June 21st.