The capital group, which is dominated by Anta, announced that it will acquire the entire shares of the famous Finnish sporting goods company Amma Fen Sports at a price of nearly RMB 40 billion, of which Anta Sports owns 57.95% of the joint venture.
Perhaps many people are a bit strange to this Finnish Dacoz sports brand, but if you mention the Archaeopteryx brand, everyone knows it, and Archaeopteryx is a sub-brand of Amadea Sports.
It is understood that Amalfi brand products are mainly exported to Europe, America, Middle East, Africa and Asia Pacific and other countries and regions. It is understood that after completing all the acquisition processes, Amalfi will join the Anta Group as a sports goods group. Anta executives said that the acquisition is a very important step for Anta's internationalization process.
Anta’s handwriting is not that big. At one time, domestic sports brands were ordinary cheap impressions in the eyes of Chinese people. With the development of sports fashion in China, domestic brands including Anta are showing a trend of accelerating to catch up with international giants.
According to industry insiders, the reason why Anta has acquired a foreign brand Amalfi has something to do with the previous achievements in international brand operations. In 2009, Anta acquired the Italian sports brand Fila, which is in a state of huge losses, from Belle International. Through its strong brand operation capability and product enhancement capability in the Chinese market, Anta has made the Fila brand alive in the market, and in recent years, The Fila brand has maintained double high digit growth and is also a huge driving force for the rapid growth of Anta in recent years. Such a successful operation has undoubtedly accumulated Anta's strong ability to operate international brands.
Industry welcomes good development opportunities
The big move of Anta's overseas mergers and acquisitions highlights the turbulent trend of the domestic sportswear industry.
The industry believes that as more and more young people love fitness and the demand for sports in the public is gradually rising, the sportswear industry has ushered in better development opportunities. According to the statistics of China Sportswear Industry Market Prospect and Investment Strategic Planning Analysis Report released by Prospective Industry Research Institute, from 2012 to 2017, the market size of China's sportswear industry continues to expand, with an average annual compound growth rate of 6.5%. In 2017, the market size of China's sportswear industry exceeded 100 billion yuan, reaching 104.5 billion yuan, an increase of 9.77%. According to preliminary estimates, the market size of China's sportswear industry will reach 114.7 billion yuan in 2018, an increase of 9.76%.
Sports have gradually become a trend in China, especially since many young people after the 80s and 90s prefer to invite friends and colleagues to exercise together. Sportswear companies seize the opportunity to develop products for young consumers, accelerate online and offline layout, and upgrade stores online, and have entered large shopping malls with better experience, hoping to gain more market share.
Miss Zheng, who works in Fujian, is a 90-year-old. Because she is practicing yoga and running, she comes to the shopping mall’s store every quarter to choose clothes for her and her family to practice yoga and running. Young people now prefer this kind of clothing, not only when they are exercising, but also when they are having a leisure time with friends.
“The buying behavior of young consumers has changed. From the past, they like to go shopping and now they like to visit the CBD and shopping malls. In the past two years, the integration of urban integration has accelerated. Many third- and fourth-tier cities and even first- and second-tier cities, large shopping centers abound. Yes, the number of stores in large shopping centers has far exceeded the layout in other channels,” said a sportswear brand executive.
Some sportswear manufacturers are keenly capturing changes in consumer trends, designing products around young groups, and satisfying consumers' demand for product quality, shopping environment and services. They have upgraded their stores to large shopping centers. It is understood that in the past two years, the number of Xtep brand stores in large shopping centers has increased by more than 100%.
In addition to the layout line, many sportswear companies also rely on the characteristics of young people to buy products online, and continue to increase investment in e-commerce, hoping to gain more market share. It is understood that the Anta Group's e-commerce business unit has experienced rapid growth in the past two years, maintaining a high double-digit growth, and the proportion of e-commerce has gradually increased, accounting for about 20% of the group's business.
Strengthen research and development to enhance core competitiveness
In recent years, consumers not only pay attention to the functionality of sportswear, but also pay more attention to the beauty of clothing. With the deep integration of fashion and sports, the fashion of sportswear has gradually become a trend, and some powerful sportswear companies have formed international designers. Leading design team, these designers and research and development departments work together to develop sportswear that combines the functionality of sports while meeting the fashion sense of everyday travel. Some powerful sportswear companies also try to grasp the market consumption trend, increase R&D investment, and design sportswear with both sports functional and fashion elements, which will enable enterprises to have more core competitiveness.
361 degrees international professional running shoes is a brand that talks more in the running circle. At the end of December 2018, the company launched the chestnut-throated tiger-bird series running shoes, and the sales reached several thousand pairs, exceeding the company's expectations.
It is understood that the 361 degree running shoes, each sample production not only needs to collect various data such as rebound, shock absorption, etc., but also carefully select the appropriate fabrics, through the R & D team constantly trial and error, meet the requirements before they can be introduced to the market in batches. .
"The chestnut-throated tiger bird is a bird with high flying skills and endurance, so its natural attributes fit very well with our professional running shoes. This shoe, we are the trend designer from the United States, put this The fashion elements of a bird are integrated into professional products, and we will further integrate some IPs at home and abroad into our professional products in the future,” said Lin Kebei, director of footwear products at 361 Degrees.
In the research and development department of Xtep, some subjects will wear running shoes in development, with reflective signs on them, and run tests on professional runways. The research and development personnel use the infrared motion analysis system to detect the joint movement and stress during the running of the subject, and obtain scientific data through analysis, so that the finally developed running shoes have better cushioning and rebounding functions.
Strive for overseas markets
With the national fitness and social factors, China's sportswear industry has entered a period of rapid development, and the implementation of the “Belt and Road Initiative” has brought new development opportunities to sportswear companies, in addition to Anta. Many companies are targeting overseas markets.
In the process of opening up the South American market, the official supplier status of the 361 Degrees Group Rio Rio Olympic Games played a significant role. At present, Brazil has 361 degrees of the world's largest overseas sales point. According to the 2018 semi-annual report released by 361 degrees, 361 degrees have 1,316, 986 and 518 sales outlets in Brazil, the United States and Europe respectively.
In fact, as early as four or five years ago, the 361 Degree Group began to lay out in advance. In 2014, they set up a dedicated product team overseas to develop the most advanced professional sports shoes. Currently, their products are in Europe, South America, The North American, Asian and even Australian markets have been fully integrated. Recently, 361 Degree Group has reached a strategic cooperation agreement with Sun Valley Department Store of Indonesia, and the other party will become a very important distributor of 361 degree products in Indonesia.
With the improvement of product quality, the recognition of domestic sportswear in emerging markets, especially in Southeast Asia, has become more and more high in recent years, which has led some sportswear companies to increase their efforts in the layout of emerging markets.
In the past three years, Xtep's sales growth in the Southeast Asian market has exceeded 100%, and the momentum has been quite rapid. The senior management of the group attributed it to the relatively high similarity of consumers and the intimacy of the so-called Asian brands.
From the performance of investors' attention, most of the leading sportswear listed companies are concentrated in Hong Kong stocks. In addition to their own performance has been greatly improved, these sports brands have also been favored in the capital market. At the beginning of 2018, as of February 2019, the overall market value of major sportswear listed companies increased by 17.59%, while the Shanghai Composite Index fell 17.72%.
Hao Shuai, chief analyst of Guotai Junan Securities Textile and Apparel Industry, believes that there are several reasons for the improvement of domestic sportswear performance: First, it is to increase the support for the sports industry from national fitness to infrastructure construction at the national level; secondly, many domestic brands Vigorously increase the construction of its own brand, including channels, products, quality and research and development. Hao Shuai believes that with the gradual development of domestic enterprises in the future, the competitiveness of domestic brands will gradually approach or even exceed foreign brands.
The industry analysts believe that the investment opportunities in the sportswear sector can be expected. Investors can pay attention to domestic leading enterprises that have reached the same level as international first-line brands in terms of product design, store display and management level. On the other hand, they can also pay attention to some fine-molecule industry leaders who have performed well in sports and other sub-segments. These companies are growing at a faster pace and space, and will bring greater flexibility to corporate performance.
Q&A: The gap between domestic brands and international brands narrows
(Lv Ming, chief analyst of Tianfeng Securities Textile and Apparel Industry)
The sportswear industry has seen a rapid growth trend in recent years. What are the reasons for maintaining sustained growth?
In addition to the health concerns of the demand side, there are other reasons. In fact, the entire sports industry, including the sportswear industry, experienced a relatively large channel sinking process from 2001 to 2011, so the entire industry has developed rapidly at that time. From 2012 to 2014, there was a high inventory in the market. With the closing of the store, many corporate performances have fallen to a low point. Since 2015, domestic sportswear companies have made significant improvements by strengthening their management, including inventory and store adjustments. Larger recovery. It can be said that there is a certain factor that is the recovery growth. On the supply side, because the whole sportswear is a professional direction in the past, in recent years, with the rise of sports fashion, the company combines professional sports and fashion. It has spawned some new demands, sportswear has become more popular, not just the needs of professional athletes. The sportswear that is usually worn out is very fashionable, so the demand also promotes the growth of the entire sportswear industry.
How do you see the development of the overall sportswear industry in 2019? What changes will the overall competitive landscape have?
Judging from the 2019 sportswear industry, I believe that it will continue to maintain a relatively good growth. We expect that the sales of the entire sportswear industry will continue to grow by more than 10% in 2019. There are two points in the competitive landscape of this industry: First, the market concentration of the entire industry will be further improved. In the two years of 2017, the market share of the top five companies in the industry increased by two percentage points. We expect 2019. The trend of increasing industry concentration will continue. Second, I believe that the gap between domestic sportswear brands and international brands will gradually narrow.
Nowadays, domestic brands have a lot of overseas layouts. Can you understand that Chinese national brands are becoming more and more mature, and there is more and more space in the future. Compared with foreign brands, are there still gaps?
First of all, we must acknowledge that there is still a certain gap between domestic sportswear brands and international brands. For example, from the perspective of the size of shopping malls, international brands have greater influence and can get bigger store areas and more. Good location. From a marketing perspective, global brands can sponsor global events and collaborate with global sports stars. In terms of product design, they are also relatively leading the design of the entire industry. But on the other hand, we also saw that the gap between the entire domestic sportswear brand and international brands is gradually narrowing. We still use these three aspects. First of all, in the channel, we can also see that the domestic leading brands are now actively entering the shopping center, including when we launched market research in Beijing in 2018, we found that domestic brands are new in shopping centers. The opened stores are not lost to international brands, whether in the display of goods, in the image and lighting design of the store, or in the service quality of the staff. In product design, we are very happy to see that many domestic brands are actively participating in the International Fashion Week, bringing the domestic brand series to the world, and then starting to cooperate with global sports stars. So I believe that this gap is narrowing, and we judge that the gap in the future will be further narrowed.
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