Local Men'S Wear Brand YOUNGOR "Abandon Ship" Clothing Main Business Suspicion

It is the most proficient in real estate development listed companies in the clothing industry, and it is also an alternative to the equity investment in the developers' camp.

At the same time, in such a huge capital circle, it can be regarded as the best selling men's clothing business.

YOUNGOR exists so miraculously in A shares.

It was originally the three driving force of "clothing, real estate and investment", but in recent circles, rumors of "YOUNGOR will let go of the clothing industry" frequently appeared.

Although YOUNGOR insiders have categorically denied it, its revival of clothing is not easy.

Rights protection storm

"I am surprised to see that Zhejiang YOUNGOR has gone bankrupt, and the remaining garments have been folded up for sale". "YOUNGOR (clothing closures)" is not clear about the true and false events, but its clothing is definitely not done now. "The old brand clothing brand YOUNGOR production plant is rumored to be closed. Today, only the clothing workers remember that YOUNGOR is no longer the clothing brand".

Recently, the news of YOUNGOR's garment factory closes on the Internet. Reporters have discovered that this may be related to YOUNGOR's rights protection.

According to the Beijing News, a post on YOUNGOR employees' rights protection was circulated on micro-blog in September 24th.

The Post said that hundreds of employees of YOUNGOR knitting factory are safeguarding their rights, so that traffic on YOUNGOR Avenue in Ningbo is paralyzed.

In September 28th, Liu Xinyu, YOUNGOR's director general, confirmed that the workers gathered in the net post did not happen.

It is understood that the "YOUNGOR knitting factory" involved in the "rights protection" of employees belongs to the "Sun company" of YOUNGOR, a listed company.

In late September, a staff member who participated in the Protection said that the knitting factory might be closed in the future but had to re sign the contract with the employees, and the service age and other benefits were all zero.

There is a saying that this happened in the event of employee rights protection, or related to the pformation of YOUNGOR.

A knitting factory employee said that after the expiration of the contract period of the knitting mill next year, YOUNGOR would be able to use the factory area to develop real estate projects.

However, the information was not confirmed by YOUNGOR official.

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According to Liu Xinyu, according to YOUNGOR's development strategy, YOUNGOR knitting factory, which is involved in the protection of rights, has been pformed in March 2013.

Today, because of the fact that the contractors are not in place, there has been a case of employee rights protection.

"Knitwear factory rights protection incident is a fuse of rumors, in fact, a few months ago, we heard that YOUNGOR might give up.

Rumors. "

Ma Gang, an independent critic of footwear industry, told reporters.

Lame carriage

The main reason for the four rumors is that YOUNGOR's clothing industry is carrying forward.

This year's report shows that in the first half of, the business revenue of the YOUNGOR clothing sector reached 2 billion 400 million yuan, a decrease of 1.06% over the same period last year.

Among them, in addition to brand clothing business growth of 4.52%, the apparel foundry business revenue decreased by 9.54% compared to the same period, textile business revenue plunged 70%.

On the other hand, the number of stores in YOUNGOR has declined for the first time in recent years.

According to the China Daily, as of June, there were 3078 sales outlets in YOUNGOR, a decrease of 4 compared with the beginning of the year, including 2605 direct outlets, 15 fewer than the beginning of the year.

In the past financial reports, the majority of YOUNGOR's stores are expanding.

It can be said that the downward trend of the macro economy, the change of consumer psychology, the impact of foreign brands, and the extrusion of e-commerce channels all pose a challenge to the development of YOUNGOR's clothing business.

Under such circumstances, YOUNGOR's performance has increasingly relied on the other two carriages.

In the first half of this year, YOUNGOR's real estate sector received 6 billion 200 million yuan of revenue, far exceeding the 2 billion 200 million yuan for the same period of the clothing sector.

Investment business realized 1 billion 800 million yuan of investment income and net profit of 1 billion 950 million yuan, representing an increase of 33.19% and 124.70% respectively over the same period last year.

Ma Gang told reporters that the clothing industry is becoming more and more difficult to do, YOUNGOR began to control the pace of opening shop, and in recent years, the company reduced its production to increase the proportion of outsourcing, garment factories repeatedly stopped, leading to speculation that YOUNGOR will let go of the clothing industry.

However, in his view, it is impossible at this stage, "after all, clothing is the most robust asset of the company, compared with real estate, investment risk is higher."

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According to the financial report, the gross profit margin of YOUNGOR real estate sector was 19.16% in the first half of this year, down 9.4% from the same period last year.

And with the sharp decline of A shares in June, the investment income of the company was also hard to achieve in the first half of the year.

Revival is not easy.

"Abandon clothes? Nothing! It has always been the main business of the company, and has maintained steady development."

YOUNGOR insiders clarify to reporters.

It is understood that at the end of October last year, Li Rucheng, the chairman of the less apparent YOUNGOR, said in a public activity that "the three carriages will shrink in real estate investment in the future. Financial investment depends on opportunities. Clothing is still the main business of YOUNGOR."

He said that clothing is his second occupation (the first is educated youth), is also his most valued occupation, even in the scene, he only depends on the visual inspection, can accurately "measure" a person's clothing parameters.

This is evident from the company's strategic plan.

At the end of April this year, YOUNGOR had announced that the total amount of funds raised by the proposed non-public offering of stocks should not exceed 5 billion yuan, which would be used for O2O marketing platform projects and YOUNGOR Hunchun garment production base projects.

Among them, the clothing O2O marketing platform project, which will be invested 3 billion yuan to raise funds, is a key link and an important part of the company's strategic pformation. Based on the acquisition and upgrading of existing direct stores, the company intends to actively develop online channels, integrate offline store marketing, and build a large membership system through the construction of O2O information system.

Platform.

But in the other two areas, YOUNGOR is also accelerating.

In real estate, the company disclosed plans to explore the development of pension real estate and tourism real estate. In June 9th, the company signed a strategic cooperation agreement with China CITIC Limited by Share Ltd.

Ma Gang speaks frankly.

Calls for pformation and adjustment have been going on for several years, and many companies want to rely on the power of the Internet, but they are walking in the same direction from the practical results.

Therefore, YOUNGOR's revival of clothing is not optimistic. It is very difficult to achieve a major breakthrough in the direction of garment industry.

Contacted by the Shanghai Securities brokerage researcher, YOUNGOR has been walking on three legs for many years, but many investors are still entangled. Is YOUNGOR's lack of business leading to the company missed the opportunity to make the main garment industry bigger or stronger? Or is it because of the support of real estate and investment that the main garment industry continues to develop?