Main Professional License Our Child's Expansionist Ambitions Burst On The Scene
Last year in August, dear mother the first one-stop shop opened in Shanghai's
People's Square, has only been a short six months, the store had grown to a 10. At the recent 2007 China Retail Forum, the Goodbaby Group president Song Zheng also said stores will be fully under way, plans to open 25 this year, three years to plan for expansion to 500. The industry believes that, dear mother supplies one-stop shopping, their professionalism will create good children in the children's retail market out of a brand new model, the existing retail will generate a strong impact on separatism."Is not a transition, but to expand." Song Zheng said, "Good boy's goal is to only do manufacturing business from, into cater to manufacturing, with independent brand and independent Intellectual property rights And channel business. "
For the good boy's "ambition", it was suggested that such a question: so fast expansion, it will put pressure on its capital chain? Store fully under way, can impact within the department stores and hypermarkets Children's Products Sales channels? "We do not have funding pressure," Song Zheng also said, dear mother now 10 one-stop shop has three products achieved profitability. Tibet Road with its flagship store in Shanghai, for example, the shop was opened by the end of July last year, rental, renovation costs, costs of goods costing more than 500 million, today they have been close to breakeven. He also said that our child would not consider franchising within two years of practice, which may enlarge the risk management process.
Sales channels for the impact of the issue whether, Song Zheng also admitted that children's products market has huge development potential, between different forms of marketing can complement each other. The store is like a child now, the profitability is the best department store in the open, in fact this is a win-win. It is reported that, based on success in the international market, our child has received 12 first-line children's products worldwide exclusive brand in China Proxy Right. Song Zheng also believes that agents of these brands in the Chinese market sales, will help our child to the maximum extent share hundreds of billions of children's products domestic market cake. Good boy's goal is to occupy the Chinese mother and child as large as possible share of the market, of which half will be contributed by the sales agency brands.
Data show that in 2005, Goodbaby Group sales of 2.5 billion, 100 million yuan net profit in which the international (mainly U.S. and Europe) and the domestic market ratio is about 7:3. Although the children than in the United States Auto Market Field of the average annual sales growth of 5%, 10% good child in the U.S. sales growth to be very impressive, but the relative domestic hot Business Retail market, is still seems sluggish. Thus, large-scale into the domestic retail market has become a major strategy for our child. This also reflects our child in the treatment of domestic and international markets with different strategies??? In the world market, our child only do suppliers, not in a hurry to do the brand, so channels, but in the domestic market, our child is in these areas have to do.
Understand our child's stroller export to Europe market, the profit over 50%, far exceeding the OEM can earn up to 2% of the profits. Last summer, the good boy to enter the European market, new stroller, each sold more than 700 euros, "high price", the most expensive in Europe, the most high-end stroller. "Good boy was not eager to present the practice of copying in the domestic market to the international marketplace." Sung Cheng also said that in overseas markets, good children's strategy is: brand and channel, mainly through foreign Cooperation Partners do, they only do a good job Consumption Research and product development were designed.
The recent news from the Hong Kong market, our child to be listed in Hong Kong Financing 200 million U.S. dollars, the internationally renowned investment bank Credit Suisse Group and Morgan Stanley are interested in our child IPO's lead underwriter.
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