Shanghai La Chapelle Clothing Co., Ltd. (hereinafter referred to as "La Chapelle") announced today (January 15th) that it will expand the financing channels, adjust the debt structure, meet the company's Romwe Promo Code operational needs, and promote the company's sound development. Registered to issue medium-term notes or ultra-short-term financing bonds of no more than RMB 400 million.
It is understood that the use of funds is mainly used to supplement the company's working capital, repay financial institution loans, use funds for project matching, and other expenses allowed by the medium-term notes.
The proposed registration and issuance has been reviewed and approved by the company at the 22nd meeting of the third board of directors held on January 15, 2019, and needs to be submitted to the shareholders meeting for deliberation.
In addition, La Chapelle announced on the same evening that the company intends to use its own funds of RMB 50-80 million to repurchase the company's A-share public shares in a centralized bidding transaction. The repurchase application is for equity incentives and employee stock ownership plans. The validity period shall be within 6 months from the date of the general meeting of shareholders and the class shareholders' meeting to consider and approve the matters related to the repurchase.
The repurchase price range is RMB 7.31/share – 13.50 yuan/share; if the total amount of repurchase funds is 80 million yuan and the lower limit of the repurchase price range is 7.31 yuan per share, the number of shares repurchased is about 10.943 million shares, accounting for about the company. At present, the total share capital ratio is 2.00%, accounting for 3.29% of the company's current A share capital.
In accordance with relevant laws, regulations and normative documents, in order to establish and improve the company's long-term incentive mechanism, promote the company's long-term development, and at the same time based on the confidence of the company's sustainable development, effectively protect the interests of investors, the company's management considers the company's A shares recently The secondary market performance, combined with the company's actual operating conditions, financial status, and future profitability and development planning, is planned to carry out this repurchase program.
According to public information, La Chapelle was founded in 1998 and listed on the A-share market in 2017. It is a fast-fashion, multi-brand, all-direct fashion group that is positioned in the mass consumer market. It is mainly engaged in fashion design, brand promotion and sales. In order to provide consumers with fashion, quality and cost-effective fashion products, the main public women's casual wear. The company currently owns LaChapelle, Puella, Candie's, 7m, POTE, OTHERMIX and other popular fashion brands with complementary styles and customers. The products include T-shirts, jackets, shirts, skirts, sweaters, pants, etc. Covering the market demand for women's wear, and gradually extending the product line to men's and children's wear products to fill the gap in the market.
According to La Chapelle executives in early May 2018, compared with similar companies, La Chapelle's main competitive advantage is the characteristics of the business model, specifically:
First, almost all of the company's stores are directly operated stores, and only the investment brands have some franchise stores. In the future, La Chapelle plans to launch a smart store and improve the humanization of the consumer scene. Although the full-operate model is relatively costly, it helps the company to implement these changes more quickly and easily in the future.
According to this person, as of 2017, there are 9,448 stores under the La Chapelle line, which is equivalent to 9448 “billboards”, which can promote the brand and enhance the online sales of the brand. Creating brand effect through offline stores is also the value of the full-direct mode; as a comparison, Taiping Bird has franchise stores. The image and benefits of franchisees are related to the level of franchisees themselves. There will be differences between franchisees. . Taiping Bird will have some street shops in the third- and fourth-tier cities, but La Chapelle's stores are located in department stores or shoppingmall, and there are no street shops.
Second, La Chapelle has three major logistics centers (Taicang, Tianjin, Chengdu): the company is excellent in logistics. After establishing its own logistics center, the company will not appear to be unable to send out the goods; the company also uses RFID system to cooperate with logistics. Improve logistics efficiency.
In addition, La Chapelle has the advantage of a stable team, and the stable team is conducive to the company's brand precipitation history, heritage culture, and continuity style.
CITIC Jiantou Securities analyst Shi Wei believes that La Chapelle's "independent cultivation + mergers and acquisitions" two-wheel drive multi-brand strategy, deep ploughing the vast mass clothing market, men's wear and children's wear, e-commerce sales follow-up explosiveness. The channel network is densely covered across the country. The full-direct mode helps the strategy to advance rapidly. The RFID system is fully launched, and the operational efficiency is expected to rise sharply. The competitiveness will continue to improve in the future.
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