Rush to “metaverse”: Hailan’s home has diversified and developed into a “wardrobe for the whole family”

Huaxia Times reporter Huang Xingli intern reporter Zhang Hanwen reports from Beijing

“Men’s Wardrobe” – Hailan’s house is also going to enter Metaverse.

Recently, Hailan Home Brand Management Co., Ltd. applied for the trademark of “Hailan home Metaverse”, which is internationally classified as “18 categories”

“Leather goods” and “25 kinds of clothing, shoes and hats”, the current trademark status is “trademark application”. However, in the context of cooling down the concept of “Metaverse” in the capital market, the news of Hailan house did not cause significant fluctuations in the stock price. On November 26, Hailan house closed at 6.35 yuan / share, slightly down 1.24%, with a total market value of 27.429 billion yuan.

On November 26, the reporter of Huaxia times learned from relevant people of Hailan home that this is not the first time Hailan home has set foot in Metaverse. Previously, Hailan home had cross-border cooperation with the mobile game Jedi survival: stimulating the battlefield and the first super realistic digital person ayayi in China.

If setting foot in Metaverse is the “upward exploration” of Hailan home for the future, adhering to the third and fourth tier cities and actively improving the market share in County cities is the “downward search” of Hailan home. After UNIQLO publicly announced that it had entered the sinking market, can the “national brand” Hailan home still sit?

Set foot in Metaverse and bring new inspiration to the development of industrial digitization

“Hailan’s house is a man’s wardrobe.” the concise and popular advertising language has made a reputation for Hailan’s house. But what Hailan family wants to do is not just men’s business. Public information shows that at present, Hailan home has many brands, including Hailan home (men’s wear), ovv (women’s wear), boys and girls (children’s wear), San Keno (professional wear) and Hailan preferred life hall (life home).

In the future, Hailan home may do business in Metaverse. On November 18, Hailan Home Brand Management Co., Ltd. applied for the trademark of “Hailan home Metaverse”, which is internationally classified as “18 types of leather goods” and “25 types of clothing, shoes and hats”. The current trademark status is “under trademark application”.

It is reported that Hailan home is not the first time to set foot in “Metaverse”. As early as 2018, Hailan home and Tencent’s mobile game Jedi survival: stimulating the battlefield carried out cross-border cooperation with the theme of “wearing Hailan home and stimulating eating chicken”. Hailan home launched T-shirts customized for Jedi survival: affecting the battlefield online, and Tencent also launched Hailan home customized fashion in the game.

On November 26, a relevant person of Hailan home introduced to the reporter of Huaxia times: “on October 25 this year, Hailan home cooperated with Alibaba’s Metahuman and ayayi, who is also the digital manager of tmall’s super brand day, to pay tribute to China’s aerospace spirit.”

There will be more possibilities between enterprises and Metaverse in the future. “Enterprise Metaverse” was proposed by Microsoft CEO Satya NADELLA in May this year. He said: “You can start with digital twins and build a rich physical or logical digital model, which can span people, places, things and their interactions, whether it is assets, products or complex environments. Digital twins bind the physical world in real time. You can use mixed reality to monitor and collaborate in the environment.” In short, this means that it will be possible for enterprises to replicate the changes simulated in the virtual world in the real world.

Although it is still in its infancy, enterprises have made similar attempts. This year, Gucci’s Centennial Exhibition Gucci Garden: archtypes is not only held offline in the Lord’s Square in Florence, Italy, but also in roblox The online game creation platform held an online virtual exhibition. It is worth mentioning that previously, rob Roth players spent 350000 robux (the currency on rob Roth, which can be converted into real currency, about US $4115) to buy a limited edition Gucci virtual package.

Referring to the motivation of Hailan home to set foot in Metaverse in the future, the relevant person of Hailan home told reporters, “the exploration of Hailan home on Metaverse has brought new inspiration to industrial digitization and gave designers, enterprises, digital fashion and digital economy a deeper understanding.” The person said that as a leading Chinese garment enterprise, Hailan home embraces the hot spots and opportunities of emerging things such as Metaverse, accelerates the digital transformation process of the textile and garment industry, and leads the digital innovation and development of the industry.

Inventory structure analysis

It still needs time to explore the real linkage with Metaverse. Back to the real market, Hailan family has to face the fierce competition pattern. UNIQLO recently announced that it will enter the third and fourth tier cities, which undoubtedly means that Hailan family will have a “positive confrontation” with it. It should be noted that, from the outside world, Hailan family still has many problems to be solved.

On November 26, Li Yingtao, a senior analyst of Analysys new consumption, analyzed in an interview with the Huaxia times that Hailan house operated in a joint venture with suppliers. “Sharing profits with suppliers, but also sharing risks.”

At the end of 2019, the inventory was RMB 9.044 billion, a year-on-year decrease of 4.53%, the inventory turnover days were 250 days, a year-on-year decrease of 36 days, the inventory / revenue was 41%, a year-on-year decrease of 8pct, the proportion of non returnable goods decreased by 3PCT to 41%, and the inventory impairment provision / inventory was 5.75%, a year-on-year increase of 1.72 PCT. In terms of stock age, the proportion of less than 1 year / 1-2 years / more than 2 years is 71% / 28% / 2% respectively, with a year-on-year increase of – 4pct / 3PCT / 1PCT. The company’s products are generally sold for two years, and the inventory is healthy in terms of product structure. The net business cycle was 65 days, a slight increase of 4 days over the same period, mainly due to the decrease in the turnover days of advances received and accounts payable. The inventory of 20q1 was 8.839 billion yuan, a decrease of 2.3% over the beginning of the year and a year-on-year decrease of 7.5%. The inventory did not deteriorate due to the epidemic situation, mainly due to the company’s promotion in January; The inventory turnover days were 319 days, an increase of 70 days year-on-year, the inventory / revenue was 230%, an increase of 73pct year-on-year, and the overall inventory pressure was controllable.

The returnable proportion of Hailan home down jacket with a high proportion has gradually increased, slowing down the inventory pressure of the company. From 2015 to 2019, the proportion of down jacket revenue of the main brand Hailan home increased year by year, reaching 12.22% in 2019. In 2019, 100% of the main brand down jacket will be bought out by the public, but by 2020q2, the buyout proportion will be only 30%, and the returnable proportion will rise to 70%. The increase in the returnable proportion of the main brand down jacket with a high proportion has reduced the company’s cash flow risk, slowed down the company’s inventory pressure, and further consolidated the asset light model.

Ding Shijie, an analyst at Guosen Securities, said that the company’s performance has basically returned to the pre epidemic level, and the inventory turnover has been greatly optimized. As a leading brand in the field of men’s wear in China, Hailan home has a certain scale and influence. At the same time, the company has actively reformed during the epidemic period. New brand incubation, new channel entry and new retail development are expected to bring the second growth curve to the company in the medium and long term.

Hailan home proposes a new plan for offline stores

This year, Liu Jingzheng, President and President of UNIQLO’s parent company infomercial group, publicly said that he would actively open stores in China’s second and third tier cities with low popularity of UNIQLO in the future. The second and third tier cities are just the “main position” of Hailan home.

Li Yingtao pointed out that UNIQLO and Hailan home belong to the “quality parity track” and “at the same time, this track has become saturated.” by the end of September 2021, Hailan home had 7537 stores nationwide, a net increase of 156 compared with the beginning of the period. At present, UNIQLO has more than 820 stores in Huamen. “At present, Hailan home has done very well in this track, and the number of more than 7000 stores across the country has become saturated. UNIQLO will be its biggest competitor in the future,” the above person added.

In the first three quarters of this year, Hailan home recorded a revenue of about 14.16 billion yuan, a year-on-year increase of 20.19%; The net profit was about 2.05 billion yuan, a year-on-year increase of 58.7%. However, Hailan home pointed out in its financial report that the high growth was attributed to the decrease in sales caused by the epidemic in the same period last year. Compared with the revenue of about 14.69 billion yuan and the net profit of 2.62 billion yuan in the same period in 2019, it decreased by about 3.6% and 21.8% respectively.

Revenue growth is blocked, and Hailan home may bet “treasure” on multi brand development and brand upgrading. At present, Hailan home has a number of other category brands, including customized clothing brand “San Keno”, boutique women’s clothing brand “ovv”, home brand “Hailan preferred”, etc. It is worth mentioning that, in addition to the main brand of Hailan home, St. Keno contributed the most revenue. In the first three quarters, St. Keno contributed about 1.48 billion yuan to Hailan home, while other brands contributed about 1.29 billion yuan in total.

“At present, the main goal of Hailan family is to develop upwards.” Li Yingtao thinks, “on the one hand, Hailan family can choose to take the route of brand upgrading, such as creating Hailan preferred home brand; on the other hand, it can refer to Anta’s acquisition of FILA to take the route of in vitro incubation.” however, the “Aiju rabbit” brand created by Hailan family has not achieved good results. It is reported that, The brand is the female version of Hailan home.

On November 26, relevant people of Hailan home told reporters that in terms of offline layout, Hailan home proposed the plan of “stable development and increasing floor efficiency” of stores. On the one hand, adjust and optimize the existing stores, and adjust individual stores with poor benefits and overlapping customer coverage; On the other hand, expanding stores around the core location of shopping centers and shops. At present, HLA has in-depth cooperation and rapid expansion with national systems and regional strong systems.

It can be predicted that there will be some positive competition between Hailan home and UNIQLO in the sinking market of second and third tier cities in the future. When the reporter asked relevant people of Hailan home how the company viewed UNIQLO’s entry into the sinking market and regarded Hailan home as a competitor, the other party said it was inconvenient to answer.

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