The “bankruptcy liquidation” inexplicably Latham Bell brought a wave of “wild consumption”. Although the popularity did not cool down, Tucao followed.
“1999 coat, not selling 799, not selling 399, as long as 299.” The settlement of the live broadcast room was discounted, and Li Lin (pseudonym) did not allow Li Lin (pseudonym) to be tempting. Open Douyin and brush it to the live broadcast push, she placed an order “chop hands” for a few days.
Buyers poured in, and the collective “harvesting” of the merchants has already been launched. The Beijing News Shell Financial reporter searched and found that within the same time, at least dozens of Lathabel shop live rooms were carried on the online period. In addition, the emotional cards are frequent, “Supporting La Xiabeel, 7 days and 7 nights, and 7 nights and 7 nights.” Among them, after the end of November, a single live broadcast room has been broadcast 40 games within a month.
However, the “rescue” army originally intended to pick up the leak seems to have entered the OEM fan. “It feels strange for the printing box printing, it is very cottage.” Buyers think that buying fake goods is different from the “memories of memories” in the student days.
Following, the “OEM” business of La Xia Bell’s product was pushed to the stage.
In fact, as early as September 2020, Latham Bell adjusted its business strategy, and the business focus turned to the “brand authorization+operation service” model, among which brand authorization is the “OEM” that consumers are well known. At present, La Xiabeel has set up an authorized business department within the company. According to La Xiabeel’s financial report, the gross profit margin of the brand authorized business reached 100%.
Shell Finance reporters found that there are more than 100 shops or users named after “La Xiabeel”, including factory stores, brand stores, specialty stores, etc., and many companies behind them are online technology. Co., Ltd., clothing Co., Ltd., individual industrial and commercial households.
Rush into the live broadcast room, and the anti -wool?
Following the large -scale closing stores, continuous losses, and frequent lawsuit disputes, a news that is not unexpected to the market allows La Xiabeel to meet the transfer.
On the evening of November 22, La Xiabeel was applied for bankruptcy and liquidation by a number of creditors, and immediately appeared on the hot search. So far, 300 million readings have been read. Unexpectedly, after the news was released, consumers poured into the live broadcast room to “pick up”. In several live broadcast rooms, women’s clothing that used to be hundreds of or thousands of yuan in the past, hit a discount of less than one discount, and some priced prices of more than 3,000 yuan. Clothing, clearance price only costs about 300 yuan.
In consumer impression, Rhaxbe’s discounts have never been so low. Shell Financial reporters saw in the official flagship store of Douyin Laxibell that the purchase price of coats is generally 299 yuan, and the original price marked from more than 4,000 to hundreds of yuan. In addition, as low as 40 yuan and 30 yuan in the inside.
For a while, Latharbeel ushered in the “wild consumption” momentum. Usually watching the live broadcast room of less than 100,000 people, after the hot search at the end of November, it exceeded hundreds of thousands of people. Today, the news of the news of the application for bankruptcy has been released for more than a month, and the popularity of La Xiabel’s live broadcast room is still not too bad. Recently, in the official flagship store Taobao live broadcast, the number of viewers in real time was about 120,000.
Shell Financial reporters search saw that at the same time, dozens of “La Xiabeel Genuine Stores” were often broadcast live. Among them, at 8 pm on December 28th, the reporter retracted that at least 30 Lamabel flagship stores or La Xiabeel official accounts, specialty stores, and brand stores were broadcast on the Douyin platform for live broadcast. , Men’s and children’s clothing and shoe products are also sold.
Not only that, many Ratham Bell’s shops were broadcast intensively. The live broadcast of a Lathar Bell’s shop showed that from August 9th to November 19th this year, a total of 40 games were broadcast in three months, and 40 games were broadcast live in about a month after the end of November. On November 26, the video of “La Xiabeel La Chapeelle” Douyin account stated that the topic of “Latharbeel said that it has exploded” read more than 6 million on Weibo.
Shell Financial reporter noticed that under the hot sales market, La Xiabeel quietly evolved from the beginning of clearance to pre -sale. After the consumer placed the order, the factory was temporarily produced. Among them, a number of products sold at the end of November, the pre -sale date has been ranked until mid -January of the following year. In December, consumer comments were often promoted to be shipped at a video review area released by Latham Bell’s stores.
The pre -sale in the name of clearance is still continuing. On the evening of December 28, in the live broadcast of a Lathar Bell’s shop, the word “year -end promotion of down and clear warehouses”, the product details showed that the product was pre -sale, and the goods were shipped on the 7th of the next month. There are also shops at the end of the year, and the products sold on the event are also displayed as pre -sale, and the last month will be shipped at the latest month.
Shell Finance reporters saw in a Lathar Bell shop that a women’s clothing was about 10,000 pieces, and the discount was calculated at 299 yuan, and the sales were about 3 million yuan. In addition, there are thousands of women’s clothing sold thousands or even tens of thousands of women’s clothing.
However, after the crazy “chopping hands”, many buyers began to suspect that the price reduction was “fake” after receiving the goods.
Li Lin told Shell Finance reporters that she placed six or seven clothes in many Laxibell shops at a number of clothes for about 2,000 yuan. Waiting for nearly a month, the clothes have arrived in recent days. Compared with the clothes she received, she found that the style, texture and texture were different from what they saw in the live broadcast, “it should be well -behaved.”
The routing line is not straight, the water washing label is not matched with the tag parameters, the texture is poor, and the color fades are severely faded … Recently, as consumers received the goods one after another, a large number of negative feedback on the quality of Lathabel products emerged. Many consumers say that the product can be seen that the product is obviously “OEM”. The so -called ultra -low -price clearance actually corresponds to the value of the product itself. There are also many netizens who posted and told, prompting “Beware of wool wool to be reversed.” In the sound of bad reviews, there are no shortage of consumers who do not know “OEM”.
“The live broadcast room said that Lathar Belle’s bankruptcy cleared the position, we also believed it, and then bought it. The problem was that the live broadcast room said that 100 % cashmere, and it became 50 % of the gasoline. Financial reporters complained in Black Cats that there were 183 complaints about Latharbeel, of which many complaints involved recent promotional activities.
OEM truth: individual households
Bring goods to sell “genuine”
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Brand authorized gross profit margin
100%
Who is really La Xiabeel? Nowadays, more and more stores have emerged, which has become a question of many buyers.
Shell Finance reporters found on Taobao and Douyin found that there are as many as 100 shops or users named after “La Xiabeel”. Factory stores, brand stores, specialty stores, etc. are common words in these account names.
Shell Financial reporters inquired that the operation companies of La Xiabeel Douyin flagship store and Taobao flagship store were Shanghai Fanyi Technology Co., Ltd. The reporter saw through Douyin Search that most Latham Bell’s stores have not been certified by the platform’s official enterprise to register for personal identity. Among the accounts marked with corporate certification, shell financial reporters sorted out and found that many enterprises are network technology Co., Ltd., clothing Co., Ltd., and individual industrial and commercial households. From the perspective of registered capital, the small and medium -sized enterprises are the main aspects, as low as 10,000 yuan in registered funds, and 5 million yuan higher.
In a Ratham Bell shop with about 70,000 fans, shell financial reporters checked the merchant’s qualification information. The main body of the account was a clothing merchant bank in Suzhou, registered as an individual household, and registered in July this year.
Shell Financial reporters placed their clothes in the “Lathar Bel brand women’s clothing store” and “Lachapellehomme Shuangyi Store” respectively. Cultural Communication Co., Ltd. and a department store established in April this year, the latter registration type is individual industrial and commercial households.
In fact, as early as September 2020, Latharbeel had proposed a business strategy of branding.
At that time, La Xiabeel issued an announcement on adjusting the online business operation model. Subsequently, the shareholders meeting held on the 29th of the same month passed the resolution. According to the announcement, La Xiabeel’s online business model is adjusted to the “brand authorization+operation service” model, which will become a new model for subsequent company online business operations.
Recently, some investors asked “What are the accounts of your company or live broadcast platform account on the interactive platform? What are the authorized non -direct accounts? Is the income and inventory incorporated into the financial statement?” In this regard, La Xiabeel responded to the reply It is said that the company’s online business has adopted an authorized business model. In this model, the company handed over the online business to the brand operation company or dealer. It does not use its own funds to purchase online goods. The online income is based on the authorization fees.
Shell Finance reporters learned that the so -called brand authorization is the “OEM” well known to the public. This model mainly depends on the advantages of brand awareness and reputation, and sells brand tags to student manufacturers or dealers.
Earlier, La Xiabeel’s online business adopted the traditional model of “planning design-independent procurement-platform operation-online sales”. It needs to participate in each chain of product design, independent procurement, traffic operation, platform sales, logistics and storage and after-sales service In the link, the products are mainly sold through e -commerce platforms such as Tmall, Vipshop and JD.
From 2017 to 2019, the proportion of La Xiabeel online sales revenue accounted for only 13.65%, 14.13%and 10.65%of the overall operating income, and it has always faced problems such as gradually rising online traffic costs, weak online business profitability and other issues. Essence At the same time, the announcement stated that it requires a large number of resources such as R & D design, operation funds and marketing resources to fully maintain the value of online business brand value, supply chain system and traffic operations.
However, since 2019, the company has fully implemented the “contraction” strategy, and the resources they can invest are more limited, and there have been certain restrictions on the development of online business.
Under the new model, La Xiabeel’s online business adopts the “light assets” business operation model, authorizes its brand series of trademarks to suppliers, dealers and agency operators, etc., and submits the operation and management of online business to Professional brand operation companies operate on their behalf. In the future, it will no longer use its own funds to purchase online goods, and no longer operates the sales of e -commerce platforms independently.
In this model, the specific way of charging the authorization fee of La Xiabeel includes, but not limited to the sales of sales (including the platform deduction point to reduce the return amount) of the specific platform, Cost*product pieces, and the supply chain service or other value -added services provided by the company.
Since then, the brand has quickly authorized to become one of the main business of La Xiabeel. According to the 2020 report, the operating income of the authorized business in the fourth quarter was 19.18 million yuan, which accounted for 1.05%of La Xiabeel’s annual revenue. The half -annual report in 2021 shows that in the first half of the year, Laxibell’s authorized business realized operating income of about 65 million yuan, accounting for 23.3%of the revenue period during the reporting period, becoming the main profit growth point for the company’s business business.
According to the financial report, the company has set up a special authorized business team to further expand the live broadcasting channels and actively deploy the authorization business of short video platforms such as Douyin and Kuaishou.
According to the company’s organization structure released on June 11 this year, it can be seen that it includes the authorized business department and parallel to the president office and sales department.
The “OEM” business can be described as a money -making tool for Lathamberg. According to its 2020 report, the gross profit margin of authorized business reached 100%.
Shell Finance reporters have noticed that the well -known “OEM” enterprise Antarctic E -commerce has carried out brand authorization business for many years. In the 2021 semi -annual report, the gross profit margin of the brand comprehensive service business was 91.95%, and the gross profit margin of the dealer brand authorized business was 96.31%. Its brand authorization related businesses include comprehensive services or e -commerce services such as brand authorization, supply chain services, trademark management, and big data marketing for authorization manufacturers, and collect certain fees from them.
In contrast, Lahabeel, which is 100%gross profit margin, focuses on the operating income brought by the trademark itself.
Nearly 10,000 stores in the past
“Speed shrinking”
Facing the risk of delisting, bankruptcy
In view of the brand authorization model, how to ensure the quality of the product of the “La Xiabeel” tag, and since the implementation of “brand authorization+operational service”, Latharbeel has repeatedly prompting the relevant operating risks and the risk of damage to the brand, but the prompt prompts The content is more focused on business development.
It stated that there are factors such as the lack of implementation of the new business model, the restrictions on related business resources, and the inadequate willingness to cooperate with the stakeholders, which leads to the company’s business expansion and the risk of operating results that are not expected. At the same time, if the company’s brand authorization strategy and brand cultural management are improperly adjusted in a timely manner, it may adversely affect the company’s final brand image and brand value.
The countermeasures proposed by La Xiabeel is that it will maximize the stability of the company’s income by strictly screening agents, promoting sales commitments, strengthening brand authorization control, establishing poor exit and negative list elimination mechanism; The supervision of the product quality and standardized operation of the brand operation company to maintain and enhance the company’s brand reputation.
Shell Financial reporter sorted out the official announcement and financial report of La Xiabeel, and did not see the specific investment and measures in quality control.
La Xiabeel, who walked on the edge of bankruptcy, once expanded rapidly in the domestic clothing market, known as the “Chinese version of ZARA”.
In 1998, La Xiabeel was founded by the former controller Xing Jiaxing. In 2007, La Xiabeel received the first round of financing, and continuously received financing in 2008, 2009, and 2010. Investors include Ronggao Venture Capital and Junlian Capital. The strategy of direct operations, the number of stores is quickly rolled out in the country.
In 2014, La Xiabeel went to Hong Kong to go public. In 2017, it was listed in A shares and became the first domestic “A+H” stock marketing clothing company. From 2017 to 2018, La Xiabeel’s store remained at more than 9,000.
However, while having nearly 10,000 stores, Latharbeel has appeared in crisis. The operating model of “multi -brand and direct business” is facing the increasing pressure of operating costs such as labor and rent. According to the financial report, the first operating loss in La Xiabeel in 2018, and the net profit decreased significantly year -on -year.
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Since the second half of 2018, on the basis of the original direct -operated channel layout, Latharbeel has begun to implement business models such as associates, franchisees, and comprehensively sorting and evaluation of existing channels and all stores to quickly close losses and low lows and lows. Effect store. In 2019, Laxia Bell implemented a strategic contraction strategy. As of the end of 2019, the number of domestic operating outlets was 4,878, a decrease of 4,391 from the end of 2018, and the number of outlets decreased by 47.37%. In 2020, the number of operating outlets has fallen to 959. As of June 30, 2021, La Xia Bell had a total of 427 offline business outlets.
Entering 2020, affected by factors such as the new coronary pneumonia’s epidemic and closing of offline channel operations and decreased goods procurement volume, Lathabell’s operating income decreased significantly. At this time, La Xiabeel also involved debt overdue and litigation cases, and some assets were seized and frozen.
Due to the continuous losses in the past two years, on July 1, 2020, Lathar Bill A shares were warned by delisting risk, referred to as “La Xiabeel” to “*ST Laxia”.
According to the latest announcement of La Xiabeel, as of September 30, 2021, the net assets attributable to shareholders of listed companies were approximately -89,64.81 million yuan. At this stage, the company still faced greater debt burden and operating pressure. If the company’s net assets that have been audited at the end of 2021 are still negative, the company’s A -share shares may be terminated.
On December 30, Lathamber issued an announcement on the progress of accumulated new litigation, cumulative litigation and asset freezing, which made important risks, including the risk of coercive delisting of financial categories, the risk of being applied for bankruptcy and liquidation, and the risk of being applied for bankruptcy and liquidation. Lobricity and continuous operating risks, litigation and asset freezing risks.
As of now, the company’s cumulative amount involved in the case involved in the case involved was approximately 525 million yuan, and the amount of decisive cases had not yet been implemented by approximately 1.8 billion yuan. Due to more litigation cases, a total of 145 bank accounts of the company and subordinate subsidiaries were frozen and the frozen amount was about 111 million yuan. ; Due to the impact involving a number of lawsuits, the company’s 4 real estate (as of November 30, 2021, the total book value of approximately 1.646 billion yuan) was seized. The influence is not ruled out that the new cases of litigation or other companies are frozen.
Beijing News Shell Financial Reporter Simili Editor Wang Jinyu School pair Guo Liqin