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Recently, Fujian Septwolves Industry Co., Ltd. announced that it has completed the acquisition of 100% equity of Hangzhou Kenna Garment Co., Ltd. for a price of 70 million yuan. This means that seven wolves, a Chinese garment company with a manufacturing origin, formally entered the luxury goods market in a "bundle" fashion with the world's top luxury brands.
But in fact, the agency of the international brand represented by Kenneth is all signed in 5 years. This bundled acquisition of seven wolves is likely to last for only a short period of five years. Because at present, the international first-tier luxury brands have basically all recovered the agency rights in China, and the second-tier luxury brands have also shown the trend of turning into direct operations. However, the seven wolf’s 70 million yuan don’t depend on how many years of luxury goods it really wants to sell. With the acquisition of Kenner, seven wolves are hoping to capture some of their weak department store terminals and boost the marketing of the seven wolves' main brands through the channels of Kenneth’s major international brand agents.
At present, Hangzhou Kenner has opened 15 Connery brand outlets across the country and 4 Versace outlets. The main business areas are concentrated in the Northeast and East China. As of December 31, 2010, in the short period of two or three years, Kenna Garments achieved operating revenue of 66.37 million yuan and net profit of 7.84 million yuan. Zhang Jianmin, the general manager of Hangzhou Kenneth, once stated that this year, Connally’s outlets will expand from 15 to 18, and Versace will quickly expand from its current 4 stores to 11.
The acquisition of Hangzhou Kenneth can bring lucrative luxury agency income to seven wolves, but in fact, in addition to income from agency income, the combination of seven wolves and international luxury brands will also provide major brand marketing assistance. Today, the geographic boundaries of domestic and international markets have gradually been broken. China's Clothing entrepreneurs have realized that if they are not familiar with and master the international market trends and the game rules of the international market, then his share in the domestic market is also difficult to keep .
In addition, the acquisition of Hangzhou Kennametal has seven aspects for the seven wolves: one is to strengthen cooperation with international brands; the second is to create an international luxury brand into the Chinese market agency platform, the third is to provide opportunities for the seven wolves brand to enter the international arena. Through this cooperation, the seven wolves can provide Chinese consumers with more opportunities to contact international luxury brands. Seven wolves will also use their financial advantages, channel advantages, resource advantages and management experience to enter more Chinese international apparel brands into the Chinese market. Provide services.
Therefore, first of all, it must be internationalized before it can better stabilize the domestic market and then open up the international market. The acquisition of Hangzhou Kennametal is the brand foundation that Seven Wolves have laid for the international market. At the same time, the international brands represented by Hangzhou Kenneth have a strong initiative to enter the channels of high-end department stores. This intangible resource is undoubtedly a very big boost for the seven wolves to build high-end brands and enter high-end channels. It will bring Hangzhou Kenna into the Bag and provide a feasible channel for the implementation of the high-end strategy of the seven wolves.
The king of channels is the absolute truth of the apparel industry. Even seven wolves are still suffering from the department store channel. In the face of an endless stream of competing brands, brands such as the Seven Wolves began to show signs of aging and low added value. Some foreign brands started to drive Chinese low-end brands out of large department stores. The acquisition of Kenner can offset some of these adverse factors, while also allowing Seven Wolves to take a step away from international brands.
But in fact, the agency of the international brand represented by Kenneth is all signed in 5 years. This bundled acquisition of seven wolves is likely to last for only a short period of five years. Because at present, the international first-tier luxury brands have basically all recovered the agency rights in China, and the second-tier luxury brands have also shown the trend of turning into direct operations. However, the seven wolf’s 70 million yuan don’t depend on how many years of luxury goods it really wants to sell. With the acquisition of Kenner, seven wolves are hoping to capture some of their weak department store terminals and boost the marketing of the seven wolves' main brands through the channels of Kenneth’s major international brand agents.
At present, Hangzhou Kenner has opened 15 Connery brand outlets across the country and 4 Versace outlets. The main business areas are concentrated in the Northeast and East China. As of December 31, 2010, in the short period of two or three years, Kenna Garments achieved operating revenue of 66.37 million yuan and net profit of 7.84 million yuan. Zhang Jianmin, the general manager of Hangzhou Kenneth, once stated that this year, Connally’s outlets will expand from 15 to 18, and Versace will quickly expand from its current 4 stores to 11.
The acquisition of Hangzhou Kenneth can bring lucrative luxury agency income to seven wolves, but in fact, in addition to income from agency income, the combination of seven wolves and international luxury brands will also provide major brand marketing assistance. Today, the geographic boundaries of domestic and international markets have gradually been broken. China's Clothing entrepreneurs have realized that if they are not familiar with and master the international market trends and the game rules of the international market, then his share in the domestic market is also difficult to keep .
In addition, the acquisition of Hangzhou Kennametal has seven aspects for the seven wolves: one is to strengthen cooperation with international brands; the second is to create an international luxury brand into the Chinese market agency platform, the third is to provide opportunities for the seven wolves brand to enter the international arena. Through this cooperation, the seven wolves can provide Chinese consumers with more opportunities to contact international luxury brands. Seven wolves will also use their financial advantages, channel advantages, resource advantages and management experience to enter more Chinese international apparel brands into the Chinese market. Provide services.
Therefore, first of all, it must be internationalized before it can better stabilize the domestic market and then open up the international market. The acquisition of Hangzhou Kennametal is the brand foundation that Seven Wolves have laid for the international market. At the same time, the international brands represented by Hangzhou Kenneth have a strong initiative to enter the channels of high-end department stores. This intangible resource is undoubtedly a very big boost for the seven wolves to build high-end brands and enter high-end channels. It will bring Hangzhou Kenna into the Bag and provide a feasible channel for the implementation of the high-end strategy of the seven wolves.
The king of channels is the absolute truth of the apparel industry. Even seven wolves are still suffering from the department store channel. In the face of an endless stream of competing brands, brands such as the Seven Wolves began to show signs of aging and low added value. Some foreign brands started to drive Chinese low-end brands out of large department stores. The acquisition of Kenner can offset some of these adverse factors, while also allowing Seven Wolves to take a step away from international brands.
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