[Case] the only product: The Wolf of Wall Street to develop history one afternoon two years ago, the four Chinese people in New York's Four Seasons hotel lobby, discussing a major event on the only product of fate. Representatives of the two venture capital firms. They are the only product in Guangzhou Information Technology Co., Ltd. (hereinafter referred to as 'the only product will'), Chief Executive Officer (CEO) Shen Asia, Chief Financial Officer (CFO) 杨东皓 and investment will be the only product. world of warcraft cosplay They were to make a decision, so let the only product in the United States. Prior to help represent them in the US investment bank Goldman Sachs to tell them, may be $ 6.5 per share in the United States, the success rate of about 70%.
Then takes stock fraud in the United States because of the financial crisis into a crisis of confidence in US capital markets will only feel the only product worth the price. Goldman Sachs is recommended only product will 'rush it.' On, the price $ 6.5 is really low, doing so before the company $ 300 million valuation. Executives themselves very well, the company will soon be profitable. They had hoped to sell at least a share of $ 8-10. Not on, then when the next opportunity to re-listed hard to say. 'Finally decided to go public because the relatives of our executives and executives, relatives and friends were both in New York, are waiting for a celebration, if not listed telling people we have to return to it, can not say ah. Anyway, they also confused and 8 6 5 5 What is the difference, so this decision will soon reach a consensus within five minutes. 'Yangdong Hao recalls. The decision made within five minutes, the achievements of the only product. March 6 after two years, the market capitalization of the company was the only product will break through $ 10 billion. The Chinese Internet industry in the United States and listed companies in Hong Kong, the market capitalization of over 10 billion US dollars of the company, only Baidu, Tencent and Qihoo 360. NetEase's market capitalization in 2013 to over $ 10 billion, later fell back, only products will thus become China's first five rushed over $ 10 billion market capitalization of Internet companies. Just as with the Netease, the only product's market capitalization has fallen back to about $ 7.8 billion (March 25, 2014). Two years, the company rushed to the market value of $ 300 million from $ 10 billion, the share price rose from $ 6 was $ 180. The only product of five consecutive profitable quarters, China's import and B2C electricity supplier currently the only profitable company. This is a miracle or two foam Wenzhou alliance CD products will be mainly founded two Wenzhou -? Shen Asia and 洪晓波. Shen sub-agents to do the battery started once to get all the front-line agency in southern Zhejiang battery brand. And later he opened a battery factory, to do the battery export business. Hong Xiaobo 8-year-old immigrant to France. In France parents do catering and real estate business, I hope he can take over. Hong Xiaobo that his father never borrow money business, mobile phone operators Bluetooth devices and other wireless products, but business is not good. In 1998, the two met and started doing mobile phone accessories business partnership. Shen Asia is responsible for domestic purchase, Hong Xiaobo responsible sellers in Europe. At that time, a $ 5 phone accessories, can be sold for $ 5 in Europe. This is the pot of gold they earn. One day in 2007, Hong Xiaobo found his wife often early in the morning, log on France Outlet website VP (Vente-privee.com, hereinafter referred to as 'French VP'), to buying brand-name discount package. This year, the US site Gilt French VP of business model transformation, specialize in luxury goods at a discount. Hong Xiaobo find Shen Asia, made in China can copy a. Both were at the Cheung Kong Graduate school, then find the other two do the clothing business from Wenzhou fellow classmates - Law Group boss Peng Xing and domestic women's brands EU force boss Xu Yu, also a student from Hangzhou.
Five people scrape together 30 million yuan, co-founded the only product. At that time, there have been several brand-name discount mode electronic business website. For example 88brands and VIP Deals like. There are some French people in China directly founded by copying the French model 'VP'. The only product on the line when in December 2008, Cosplay Costumes the choice is fully imitate Gilt luxury flash sales model, introduced rationing discount luxury is no longer available after buying. At the same time the only product will join the Chinese Characteristics - provide genuine insurance if consumers buy a fake brand-name, to get a full refund, hoping to dispel consumers' concerns. It was the only product lines sold only 18 single month, and most of them are Hong Xiaobo and Chen Ya themselves and friends take care of business. This state continued until March 2009. Invested temple library and other luxury goods companies originated Capital Partners Lei Zhonghui Southern Weekend reporter said that in 2009, when the top luxury brands to a network of authorized channel very cautious, luxury electric provider can not get too much supply fake luxury goods online shopping market run amok, consumers do not really believe that the Internet can buy luxury goods. CD products will be quickly adjusted for product positioning, give top line brand, aimed at Adidas, Nike, Casio and other Chinese consumers are more familiar with the second and third line brand, started a major transformation of the only product. From selling luxury goods to 'sewer' in April 2009, women's brand EU force (Ochirly) announced the opening of an exclusive network limited sale will be the only product meeting. EU force is one of the founding shareholders of the only product of Xu Yu to create a national women's brand. CD products will transition very smooth, then every year a large number of garment-season products and Potter stock through this 'sewer' to clean up. According to the prevailing data Ereli, 2008 fashion goods (including clothing, footwear, cosmetics, etc.) to become the biggest users of online shopping product categories, especially apparel, trading volume since 2007 over Mobile phones and other goods in the first place.
And suppliers of specific cooperation model, some CD products will be bought out, mainly for Nike and Adidas brands such a class. CD products will require advance payment buyout, purchase large amounts can not be returned. Most goods are consignment model, might purchase large amounts and then passed back. Second and third tier brands, the only product will also be required to begin the advance, usually about 15% of the price of goods. After a bigger tsubasa wigs scale, in addition to Nike and other suppliers, the majority have been achieved postpaid. Who requested anonymity, a clothing brand leader told the Southern Weekend reporter, who was the only product will find him, said four reasons, one could help with treatment Potter and season products. The second is to help make some free brand advertising. For example, the only product SNS will do some sort of social marketing on the site. Third, the only product will be limited limited sale model, it does not affect the next line of the price system supplier. And brands can also pick up some new products to sell only products will do some tests. Fourth, the credit period is short, do not pressure supplier payment. So far the only product will remain with the account of a month or so. Other electricity providers are mostly account of at least three months. 'The first reason other electric providers are able to meet me, but behind the three reasons I could not refuse, especially the account of. Can do only product was only a month back section.' The person in charge of the Southern Weekend reporter recalls, it was discovered that often do not return, because selling too fast. So in the end, and the only product signed a cooperation exclusive sale platform. Unlike most electric business is different, the only product in the first two years, no angel and no introduction of venture capital investment. This is related with the founder. Shen Asia and 洪晓波 two are doing business background, independent of the five founding shareholder of related Internet. The future success of the business tier cities only product, not only because it was originally found a hungry market of sale mode, into the female consumer-oriented clothing, and more importantly, it is trying to figure out consumer psychology After creating a Leihu 'The Wolf of Wall Street' sales model. Is known as 'The Wolf of Wall Street,' the Jordan Belfort, in the 1990s, started to sell junk stocks started his way, let telemarketers sell to customers to win the trust Kodak and other blue chips, and then sell those junk stocks, and thus eligible for Lee lucrative. In 2009, after the transformation of fashion, the only product on the one hand the introduction of second and third tier international brands, at a steep discount to attract consumers, on the other hand, side by side with these international brands on the shelves is the play of a variety of foreign names domestic brands. The only product of strong packing capacity for these domestic brands appear historic, reputable. For example CEEN policy Well this presentation brand shoes in Guangzhou, the only product that is: the 1880s began the old Shanghai, developed in the 1940s in London and return to the beginning of the 21st century leather capital - Guangzhou. For consumers first-tier cities, such a combination seems very dissonant. Beijing A IT public relations firm after 80 girls on the Southern Weekend reporter that she was from a friend at home the first time I heard only product will, that sell luxury goods or a second-tier brand. Later found not only international big, more so in this small town home selling brand. 'Brand span really big, home of a friend said, in a small town, or the pursuit of brand-name consumer psychology, as long as they opened the store to think it is a great sign.' 'I am most depressed, and often is the clothing brand display drawn into, but found it did not able to see the clothes, like feeling deceived by the poster. It's like the discount sale store moved to the Internet, can be left to the last discounted clothes, certainly not selling paragraph it. 'she said.
The only product of the market does not really first-tier cities. According to its CFO Yangdong Hao said, the only product in order accounted for only about 13% of first-tier cities, second-tier capital city accounted for 30%, even four-city and county have accounted for more than 20%. In fact, three or four lines of consumer and do not care to buy is not an international brand, Anhui civil servants a ground-level city on the Southern Weekend reporter said he often buy clothes at the meeting only products, I have bought a German brand pants, but I did not go to Baidu, it is not really a German brand. 'I will kick off two or three hundred, the quality is also very good, is not an international brand is not important.' Edit In fact, the only product will not be like 'The Wolf of Wall Street' sell the junk, but to build up a team of 600 people of buyers (many of whom are 'Ruili' 'Xin Wei' and other fashion magazines as well as women's department store industry buyers), the domestic brands selective. In order to provide consumers with a good consumer experience, also established a 800-person call center. Logistics secret in creating such a mode, it only product will do as much as possible to reduce costs. The two main electricity supplier is the advertising costs and logistics. After only product will cut shoes and apparel electricity supplier, electricity providers to give up other conventional burn smashing ad buy traffic patterns, to maximize the retention of the French 'VP' and Gilt American imitation: focus limited offer of sale mode, sell brand-name discount and take strict membership system, relying on word of mouth marketing, do not rely on advertising promotion. Earnings data show that at present the only product with nearly 50 million members, repeat purchase rate of over 70%, in order to provide more than 90% of existing customers. In other words, the only product will not need to spend a lot of advertising costs to get traffic and new customers. And rely on advertising to obtain new customers precisely the Internet where most burn electricity supplier. Financial report also shows that companies from the later 2009, gradually reduce the marketing costs, the current proportion of revenue has been below 5%. Many peers are around 10% -20%. After eliminating the need for ad spending, the only product will even want to even logistics costs are down to a minimum, and later some of the brand positioning is similar to the collapse of discount electricity supplier logistics allow the company to realize that money can not save. Shanghai was a company called Barbara BRAIN brand discount site founder is French, the French business model is completely copied VP company. The results fell in the summer of 2010. Mainly because there is no own warehouse, so brands do direct distribution. The site is too small too brands, distribution is not positive, long delivery time, causing consumers refunds surge, finally announced it closed. Deals logistics system with other electricity providers are different. Deals short period, inventory turns less than a week. If the delivery time more than ten days, which means a consumer buying next time, have not received the goods on time to grab. By this time who would like to order? 'In other countries, the distribution of brand-name discount are seven weeks, but for Chinese consumers, not to send the goods within three days of the past, he is likely to return to claim a refund . 'Tang Chi, senior vice president of Reliance only product will be responsible for the logistics business told the Southern Weekend reporter. Two years after the establishment, the only product will have no financing. In October 2010, after realized the importance of logistics, the company completed a $ 70 million first round of financing, to enhance the delivery speed. Meanwhile, Shen Asia attracted Don leaning wisdom. The supply chain of people worked in China Resources and other companies serving Dangdang, Dangdang designed a comprehensive set of logistics system. The only product in the past with a lot of electricity supplier companies, using a courier train service. That entrusts several courier companies, stop all resolved from the warehouse to the consumer doorstep. Such a model for other electricity suppliers is more appropriate. But the only product distribution are mostly women's fashion and other users need to try on merchandise, some customers try on twenty to thirty minutes, couriers can not wait.
Consumers should return replacement, the couriers do not bother to waste any more words. After the logistics system transformation, it became the main transport plus landing with the model. From the warehouse to the main transport in cities, the only product will do their own half, outsourcing half. From the front door of the floor with the city, looking for the best local distribution companies. To encourage the enthusiasm of the courier company, the company gave them a single price increase to 6.5 yuan profit, other electricity providers to large are thirty-four yuan per unit profit. In addition, the only product will fall with these courier companies training. For example, when the customer try on clothes feel small. They teach courier would reply:. 'This has always been self-style clothes, now popular in this style, this product was originally limited buying limit, has been pretty good to grab you no longer consider' This greatly reduces the return the replacement rate. Meanwhile, the only product will give up some orders. For example, ordering a commodity Daxinganling region, may commodities in Guangzhou. Such orders only product will take the initiative to give up. Brands products into which the warehouse, on the product line on which regions and cities, consumers do not see in other cities. Avoid Consumers do not want to grab the only product will ship phenomenon. May 2011, the only product will be the second round of $ 50 million in financing for the construction of main transport networks. Tang Chi reliance example, a shuttle between Guangzhou, Kunshan, general social logistics to take a trip, we need 42 hours, the price of 15,000 yuan, and the only product will take a trip, just 28 hours, the price of 12,000 yuan. Warehouse to buy land from the lease into the positions. Tang Chi lean calculations, although pre-positions into large, but in the long run is cost-effective. After listing in March 2012, the company financing over seventy million US dollars, the money is used to invest in warehousing. The only product of the ceiling US investment bank Piper Jaffray said in a research report, China's clothing market Potter approximately 400 billion yuan, the only product currently representing less than 5%. Short term, it seems difficult to see the ceiling. In addition anonymous person with a foreign investment bank, the Southern Weekend reporter, he said the investment bank to maintain the only product will buy rating. But he believes that the company faces a variety of risks, including a growing number of competitors, the apparel industry inventories are reduced, the layout of the slow movement on other factors. Indeed, the only product will increase a lot of competitors in 2013, Jingdong, Dangdang, Lynx, where customers and other electricity providers have been offering sale mode. Some electric district insiders told the Southern Weekend reporter, where customers are doing sale of the time, if the consignment of goods from suppliers to the commission is very low, only about 5%. The commission only product will be about 15% -20%. This makes a lot of suppliers have turned to cooperate with any customer. Called 'red' flash sales channel Jingdong on-line positioning is simply locked the only product. To this end, Jingdong introduced different account of. That 'T + 1' new settlement system, the account of the shortened to 'Order Completion Time +1 day', even shorter than the only product. Previously, supplier feared Jingdong platform such cooperation, would disrupt their own pricing system offline, but also disturb himself in the Jingdong non-flash purchase price of the product system. In this regard, Jingdong solution is to flash sales into the secondary domain name, with the main station area to separate the user from the home page flash purchase entrance, saw a famous sale platform. In addition to the inlet and domain segmentation, goods also made a segment, the brands on the flash on the goods purchased with the master store goods is not the same, as is the master does not affect sales of regular-priced items. Clothing, general manager of open platform Jingdong Liu Division of the Southern Weekend reporter that Jingdong flash sales platform also offers brand new when test marketing service. After the initial rapid development, the only product growth started to slow. Results, its 2012 revenue rose to 204.7%, in 2013 it dropped to 145.1% .. In response to competition, in February 2014, the only product holding cosmetics vertical electric providers Le Bee network, expand their category.
Market Le Bee network in a city, this is precisely the advantage of the former and the lack of unfamiliar battlefield, the two sides can form complementary advantages. In the Beauty industry, the only product will also be replicated in the apparel industry's own pattern. Meanwhile, the only product also intends to develop the second quarter of 2014, the luxury electric provider business. But the situation is not optimistic. In fact, the only product will mock objects has begun to get rid of dependence on luxury goods and fashion goods. As early as in early 2010, the only product imitators Gilt American sites began to expand product categories, extending to wine, resorts and some sort of designer brands. France 'VP' in addition to luxury goods, but also began to sell a lot of products, and even sell saplings. For the only product, it now faces a dilemma: if to follow his 'teacher' category expansion, it means self-B2C China with other no difference. If you do not follow, to continue to root out the luxury and fashion goods market, is facing supply shortages.