Foreign fashion dealers in the pursuit of investment behind the core competitiveness in the upstream

In the venture's willingness to reduce the risk of wind, the investment in the power of the current tightening, foreign fashion electric dealers have been coming to the financing news.

Into the June, the French fashion polymerization of the electric business Rad, the United States Internet men's brand combat Gent, the Internet beauty brand Julep, the design of electric dealers fab.com are announced to get the VC injection. Just two days ago, social electric fancy and fashion flash Ideeli also had a new round of financing, it is worth mentioning that the former overall valuation amounted to 600 million U.S. dollars.

Comparatively speaking, the domestic fashion electricity dealer's recent financing performance is mediocre. These early concentrated in the field of luxury goods power, the peak period of 2009 to 2011, the period of time, the domestic rapid emergence of more than 40 luxury sites. In addition to the professional self-luxury shopping site, only the goods will, go Show network, Jiapin Network, Shang Network and other fashion sites have dabbled in the luxury market.

At that time, these luxury electric dealers are still the favorite of VCs and private-equity eyes, but right now, NetEase still goods, call HA network, respect cool net all have already announced close, the still goods net that is immersed in the storm of layoffs, walk show net, Jiapin Net also had to start to diversify business, transform to live, the domestic capital market is like the fashion electric dealer to enter "Limbo".

Why can foreign fashion electric dealer "scenery alone good"? How should domestic peers get out of the trough?

A luxury electric trader with a fever receding

Du Yan, a researcher in the investment consultancy retail industry, looks at the difference between a fashion electric dealer and other platforms, focusing on fashion products and luxury goods. In the past, the fashion electric dealer is so hot, because "the domestic e-commerce development is extremely rapid, and the domestic luxury market is also in the high-speed development stage." Luxury by the electric Business Express, ' strong coalition ' attracts many investment institutions.

To set up in 2008, take the show network as an example, 2011 won the first round of 20 million U.S. dollars, Kai Peng Investment, the same year in August, the show net again harvested from private equity 100 million U.S. dollars in the B-round financing, this is China's electric business industry in the history of the largest B round financing.

But young founders apparently haven't figured out how to deal with a steady stream of huge sums of money.

In a short span of one year, the catwalk network will expand the previous 500 team to 1300 people, and the annual sales of more than 30 million euros in the Italian luxury electric Yoox team only 300 people.

In this respect, the electric business analyst Ruzenwang in the "First financial daily" interview that Yoox to outsource the technology business to other companies, so there is no technical team, the whole team scale reasonable, people effect is very high.

In addition, the large-scale investment in television advertising, subway ads and even outdoor advertising has also led to the criticism of fashion dealers. Some industry insiders said that some luxury goods dealers spend on advertising costs "within 3 months will be able to burn out 60 million yuan."

Crazy expansion, disorderly competition, layoffs, capital has not had time to receive the return has been poured cold water. Since the second half of 2011, VCs and private equity investment in the entire electricity business has slowed rapidly, the second half of the disclosure of investment events only 34, 2012 continued to decline.

DU Yan Macro believes that the development of domestic fashion and growth of a prominent feature is the scale-driven, rather than profit-driven. "The madness of the scale expansion is the inevitable choice of the electric Business Enterprise competition survival, along with the wind throws to the electric dealer, the customer to the shopping gradual rationality, the electricity merchant will pay more attention to the profit ability." Du Yan told reporters.

Optimizing supply Chain is the key

Counter-view foreign fashion dealers, now the landscape is still unique, they reflect the current characteristics of fashion dealers: small and beautiful, cost-effective, speed and uniqueness. The mature and calm business environment is an important prerequisite for the benign growth of foreign fashion electric dealers.