Domestic Clothing Brand Electricity Supplier Three Years Financing Case

The rapid development of Internet makes the original clothing The brand structure is changing. Some Internet brands are taking advantage of the situation. They even try their best to get support. Another part of the traditional brand begins to innovate in the process. Who can represent? Clothes & Accessories The future direction of brand?

With this problem, the billion power network has collected and collated some clothing brands that have been invested in venture capital or PE since 2011, hoping to peek into the future of the brand from the eyes of investors.

Cowboy: local Cowboy brand opportunity

Investor: capital investment

Investment amount: RMB 20 million

Investment time: 2013-06-27

AI Ken is a Cowboy brand electric business. At present, there are two C stores in Taobao. Tmall has a B store. At the same time, it also provides cowboy products in B2B form to a comprehensive apparel brand under the line. Its record: landing on Taobao in June 2010, selling 17 pairs of jeans on the line for 6000 minutes, becoming brand after 3 months, double 11 in 2011, sales exceeding Levis 30%, and 80 million sales in 2012, 160 million this year, and 30% net profit.

But for AI Ken, there is a chance: AI can only be a cowboy. First of all, jeans can be divided into high and low seasons. This feature can reduce inventory pressure. China is the largest cowboy production base in the world, but there has been no local denim brand.

Product: AI Ken is "buyer +" Designer The first batch of goods sold on the line is sold by foreign brands directly from the processing plant. Of course, the price is very attractive, and then gradually increase their own design, and strictly control all aspects of style, edition, fabric, craft and so on. In short, it is cost-effective.

On the basis of products, it mainly relies on user word of mouth, and the current user's return rate within 30 days is 39%-50%.

Split silk: small minority sentiment after enlarged channels

Investor: Sequoia China

Investment amount: USD1000 million

Investment time: 2011-6-10

The following are from the view of breaking up the silk and creating the human rights:

There are tens of thousands of ways to make a brand. I think the minority brands in recent years mean that the individual's autonomy is greater, and they do not care about the outside world. Do not be entangled in the minority or the public. This is just a label from the outside world. It is most important to follow your heart. Like onion peeling until close to the inside.

We care about the data and feel that the data are very beautiful. We will be curious about what we have done, but we have nothing to do with it. It is just six words, "focus, focus, focus, products, products and products".

There are several reasons for cracking down on silk and silk: first, we have to do something to play. This channel is what we haven't done before. Second, we can see whether we can make profits under the line. Only by making profits, can we open second houses and then open a family. Third, the market under the line is also very large, so we can try it; fourth, we can interact well with online buyers.

In fact, the brand made by two designers sisters is to use the flat of the Internet to magnify the original minority style into a kind of public sentiment, and instantly open up a new potential market.

Lining: the future focuses on five core categories

Investor: TPG/ Singapore government fund

Investment amount: RMB 1 billion 30 million

Investment time: 2012-1-19

In January 12, 2012 and January 19, 2012, the Li Ning Co Ltd announced that the company had signed an investment agreement with the Tak Group and the Singapore government. The investment of the German group and the Singapore government invested 561 million yuan and 189 million yuan respectively in total, and subscribed for convertible bonds with a total amount of 750 million yuan for Li Ning Co. The term of the convertible bonds is 5 years, and the initial exchange price is HK $7.74 per share. At the same time, the TPG Asia Fund of Tak Tai Group invested HK $349800000 to acquire 53000000 shares of Li Ning Co.

In those days, Lining was also in a dilemma of high inventory and heavy channel pressure. However, in 2013, Lining improved significantly in inventory, sales network, profitability and cash flow, and the capital structure tended to be reasonable. Among them, the gross profit margin of Lining and red double happiness increased, driving the gross profit margin up 6.8 percentage points to 44.5%, and the average stock turnover days 104 days, increasing by 15 days per year.

At the same time, Lining resolutely withdrew from the non-profit market, cleaned up non-profit products and channels, and closed down inefficient stores. And clear positioning high-end, core and basic three level sporting goods market, the future will focus on basketball, running, badminton, training, sports and life five core sports categories, and invest in the establishment of the core operation platform.

Lining is a brand of traditional brands with relatively clear and clear knowledge of their positioning. So in the past two years, "high-end" and "professional" have injected vitality into Lining.

Emann: the driving force of strong operational capability

Investor: IDG/ Alibaba

Investment amount: about USD2000 million

Investment time: 2013

As an old brand VC, IDG is much more concerned about Amoy brands than other VC. IDG has invested a lot of Amoy brands, and now there are Koreas clothes houses, my one percent or three squirrels.

IDG investment, Yin man, must be optimistic about the development prospects of Amoy brand and the strength of Yin man (currently the top three of Taobao women's wear). In fact, according to the data released by emann, sales in 2013 were 760 million yuan, and another brand name of the group achieved sales of 360 million yuan. The total sales volume of the above two brands, Yin Mei and initial language group, has reached 1 billion 120 million yuan.

In addition, according to the news that the inten team itself has completed the capital operation, in 2013, Yin man completed the acquisition of the initial language of the Amoy brand and did not spend a penny of the group's money. Instead, he sold the transaction completed by about 15% of the whole group's shares. The initial language of mergers and acquisitions also shows Mr Yin's greater ambition for the market and his ability to leverage capital leverage. Perhaps this is just some basic requirements for the new force clothing brand.

All customers: capital is willing to rescue.

Investor: Lei Jun /IDG/ LIAN CE source / Sai Fu / Qiming / Temasek / CITIC

Investment amount: USD1 billion

Investment time: 2014-2-11

In February 11th of this year, fan Ke Cheng announced the completion of the seventh round of financing since its inception, amounting to more than 100 million dollars, led by Lei Jun, chairman of Xiaomi company, IDG, LIAN strategy source, Sai Fu, Qiming, Temasek and other shareholders to participate in the investment.

The financing is on the verge of the breakup of the capital chain, and there is a great sense of "straw saving". The industry is bluntly: "everyone is more angry because of the success of the new round of financing."

It is worth noting that this time, the new investor was not introduced. Lei Jun, a leading investor, is an angel investor of all customers. It is a multi-year partner with founder and CEO of all customers. The other participants are also the investors of the first six rounds of financing.

Van guest insiders said earlier that it might be inspired by Lei Jun, who started trying the "millet mode" from the second half of 2013, to achieve the ultimate single product, and has been tested on the products such as duvet. This idea is also revealed in the interaction between Chen and Lei Jun's micro-blog. Chen hoped to achieve the ultimate goal through raw materials, technology and quality, so as to regain the trust of the old users.

In any case, so many investment institutions and individuals are not willing to give up customers, and do not want to turn them into wasted opportunity costs.