The Internet Fashion Industry Fund

Recently, nine Mu Wang announced that the company's wholly-owned subsidiary of Tibet nine capital investment limited liability company to promote the establishment of the Internet fashion industry fund, investment in Internet lifestyle related projects, the scale of the fund is 1 billion yuan.

Company stock resumed yesterday.

According to the announcement, the fund is proposed to

(referred to as "Jing Lin investment") is the fund manager, the scale of the fund is 1 billion yuan.

Nine Sheng investment, as a limited partner of the fund, intends to subscribe to the amount of 990 million yuan, accounting for 99% of the total capital contribution of the fund. Jing Hui investment, as a general partner, intends to make an amount of 10 million yuan, representing 1% of the total capital contribution of the fund.

The fund will focus on consumption upgrading and mobile Internet themes, focusing on Internet lifestyle.

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The fund plans to be in the form of equity, permitted convertible bonds, options, options and income rights which are permitted by laws and regulations.

New three board enterprises or listed companies will invest in fixed investment projects.

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Bosideng group's main business is the "down" brand as the representative of the down garments, according to the 2013 fiscal year report shows that as of March 31, 2014, Bosideng income of 8 billion 238 million yuan, of which the brand down clothing income 6 billion 57 million yuan, accounting for 73.5%.

But this core business is facing enormous challenges.

Not long ago, Bosideng's earnings warning showed that in the financial year ended March 31st this year, the income and net profit of the company's down garment business had a serious decline compared with the same period last year, because the performance of the traditional down jacket sales season before the Spring Festival did not meet expectations.

Another reason is to sell stocks, and the company consciously reduces the production of new products.

The main business is in the doldrums and the inventory remains high, so Bosideng finally began to push forward the strategy of "four seasons".

Independent analyst Ma Gang analysis of garment industry believes that Bosideng's revenue structure has been too single, and its down season has strong seasonal and substitutability. In order to reverse the declining trend, the strategy of "four seasons" is inevitable.

In fact, Bosideng's "four seasons" strategy began in 2010. At that time, in order to find new profit growth points, Bosideng began to increase the proportion of non feather down sales.

Reporters visited Bosideng financial report shows that in fiscal year 2013, Bosideng non feather down business sales amounted to 1 billion 300 million yuan, accounting for 15.8% of the company's total revenue, compared with the 2012 quarter of fiscal year 10.2% increased slightly.

However, as a new business line of the group, the down business is not so stable.

In the first half of fiscal year 2014, the proportion of Boston's non feather down business in the company's total income dropped to 14.7%.

It is understood that Bosideng non feather plate is mainly supported by Bosideng men's clothing, Jesse, Mogao three brands, of which Bosideng non feather plate is the largest contribution to Bosteng men's clothing.

According to Boston's interim results in 2014, its men's business revenue was 112 million yuan, up 16.4% over the same period last year.

However, compared with the two brands of Mogao, the contribution of Jesse and Mogao was somewhat poor. The former's income increased by 9% compared to the same period last year, while the latter decreased by 2.7% over the same period.

In order to further realize the strategy of "four seasons", Bosideng began to plan the development of children's clothing business when the development of women's clothing was uncertain.

4 at the end of the month, after the introduction of new investors, Bosideng CEO Gao Dekang announced that the brand of children's clothing would be listed by the end of this year.

In the face of frequent seasonal movement of Bosideng, the outside world seems to be not optimistic.

Ma Gang said that before carrying out external expansion, Bosteng first needed to solve the problem of internal management. "We can clarify our current management problems before we talk about expanding other businesses."

It is understood that in addition to Boston CEO Liang Xuhui before, Bosteng has left several executives, family management family management, "airborne" professional managers are very difficult to put a good idea down.