The only product will have the Godfather behind it? Wenzhou shopping district to "backed up"

Reading: People are talking about whether there is a pusher behind the high price of the goods and the rumor of a version is, in the only goods will be listed at the beginning of the stock price fell sharply, Shenya in the fast, when the call to the Director of the Wenzhou Chamber of Commerce for help, in distress, a very short period of time, In Wenzhou businessman Circle together enough to let Shenya solve the urgent need before.

"Usually high-profile people will die quickly, and low-key people generally live a little longer." "Into the middle-aged Shenya, after a storm of public opinion, sitting in front of reporters." In just he was also because of the media crown "in the King of stocks" and "the first demon stock" in a big temper, "I am very serious in thinking about a problem," he told reporters, "perhaps henceforth I will never accept the media interview." ”

In January 2013, when the reporter went to Guangzhou to interview the only product meeting, the founder of Shenya said it would be his last interview with the media. From 2013 to now 2014, Shenya kept his "promise". But in his low-key at the same time, only goods will be in the capital market performance is out of hand. In March of 2014, only the stock price station has risen to 170 U.S. dollars, only the market capitalisation of more than 10 billion U.S. dollars, become following Baidu, Tencent , Qihoo 360 after the fourth market capitalisation of the internet company, turned into a hot in the electric circle of the upstart.

High stock prices on the only product will be the stimulation of ambition can be imagined, "China's electricity dealers have ended the era of hegemony, the overall situation has been set, and only the goods will occupy the top three in one seat." "March 6, only the product will CFO Yangdonghao to" Chinese entrepreneur "vowed to say.

As a Pianan in South China, far away from the electric business whirlpool, only goods will be ridiculed at the beginning of the establishment of the "sewer" to clean up the inventory, business model simple, page design "rustic", shopping experience is poor. But the reality is that as of the fourth quarter of 2013, only the gross margin of 24.5%, the same period when the 17.6%, Jingdong 9.8%. In the electric business platform almost the highest gross margin created the only product will be singing and crazy up 45 times times the "myth."

As China's exclusive interview with the founder and senior executives of the media, "Chinese entrepreneur" witnessed the only products will sit on the "Typhoon Mouth" process, a background of the electric business company from the giants of the jungle to kill a way out? is the high share price of the commodities market a big bubble in capital markets or a new race for the track? After a year, Only goods will stand on the cusp.

Tuyere and Foam

Shenya is a different kind of electricity quotient. Shenya, a traditional trading industry, and another partner Hong Xiaobo in the field of foreign trade in communications equipment in 10, unlike Ma Yun, Liu and other internet or it background entrepreneurs, Shenya and Hong Xiaobo do not understand the Internet (this point in the IPO is also criticized by investors), never claim to be "product manager", Even Weibo accounts.

"I'm not like their Beijing pie," he said. Shenya explained, "I am a Wenzhou person, and work in Guangzhou, Guangdong School is more pragmatic." ”

In the interview, Shenya repeatedly said, "We are not the same as they do the internet, because I do not feel that only the internet thinking to do a good job." He added, "What do we do at the right time, we're going to be a cloud computing center now, is that crazy?"

Interestingly, the company, which claims to be "internet-minded", stood in the seat of China's fourth-largest internet company a year later. Of course, this seat is more like a crater, the only goods will be listed since the stock price and market value has been controversial, when the share price reached 170 U.S. dollars, the market value of more than 10 billion U.S. dollars, markets to its value of "bubble" concern further intensified.

As a loyal U.S. stock investor, Xu Zhihong early on. He was the first to discuss the "snowball" of the U.S. Investment Forum. "Only product will give me the first impression is the hao123, rooted very deep, very familiar with the Chinese ordinary users, I know 3000 to 4000 yuan of girls at 10 o'clock waiting for the new goods." ”

Xu Zhihong found that only products will be one of the two major investment in the DCM fund in China to cast a series of grounding in the Internet project, are the business does not sound sexy, the stock is huge, such as easy car nets, 58 of the same city are DCM in the back of the pan.

One of the founders of the Hong Xiaobo was once a sporting athlete.

Because of this, only the product will bleed the beginning of the listing, Xu Zhihong very optimistic. But with the stock price soaring, like many investors, Xu Zhihong also began to doubt the "only product will" real performance can support the overvalued value, he will only the goods and when, Amazon and China and other similar electric business shares, the conclusion is "seriously overvalued", he even had "short" impulse. To his surprise, the only thing that had never given him the chance to go short was to rise to 170 dollars.

Li Chengdong, an independent electricity analyst at the network, told Chinese entrepreneurs that the difference in valuation methods was a major cause of disagreement. "The U.S. mother-and-child buyers zulily,2013 annual revenue of only 700 million dollars, with a market capitalisation of $7.715 billion trillion, Wall Street analysts look at the market p/s (the ratio of common stock to per-share sales) rather than the P (the ratio of stock prices to earnings per share). Li Chengdong that the fourth-quarter net earnings of the goods will be 651 million U.S. dollars, up 117.3% from a year earlier, achieving the goal of the first profit-making fiscal year, while most other electric dealers are still losing money. This bright-eyed performance makes Wall Street's confidence in the only thing that will increase: compared with the Zulily10-times market sales rate, only the goods will be more net profit and revenue, and less than 6 times times the market sales rate still has room for growth.

At the moment, the "clear stock" model has hit the ceiling, another focus of market skepticism, over the high value of 10 billion dollars. Yangdonghao to "Chinese entrepreneur" explained that, regarding the tail goods market scale, the outside world generally has a misunderstanding, thinks is the economic trend is bad, the recession economic cycle causes the massive inventory, "but in fact, even in the European and American mature market, also can have about 20% of sales from the tail goods." China's clothing size is 330 billion dollars a year, 20% is more than 400 billion yuan, we 2013 years to do more than 10 billion, which is completely without bubbles. ”

Still, there is debate over whether the stock price is reasonable at the moment, with some investors looking to have overstretched the momentum for the next two years, and facing a new dilemma: The electric-business giant is starting to snatch cake with it, while the existing growth rate is slowing Its 2010-2013 revenue growth was 1061%, 597%, 204% and 145%, and it needed new stories to inject momentum into growth.

2014, the only product will set up the "investment and mergers and acquisitions" strategy department, after the establishment of the Department's first action is to win the "Le Bee Net"-February 14, only the goods will announce the strategic stake in the Oriental popular music bee net 75% shares, this is the only product will be listed since the first big merger and acquisition investment.

"The market of beauty makeup is very big, have 120 billion, and 2015 will happen one biggest change, the electricity merchant will surpass Carrefour, Watson, become the second big channel of the beauty makeup field." Feng Jialu, vice president of the Commodities Union, explained the motives for the marriage.

The main consumer of the Internet is women, Shenya in the Wenzhou merchant Circle knows this and how to make money from women. Only one of the early shareholders of the EU-time force, a Wenzhou started the women's clothing brand to achieve a valuation of 2 billion of dollars, attracted the LVMH investment, "such people stealth in the only after the goods will determine the only product will be the same as any of the electrical quotient of the gene is not the same." "Heng, chairman of the consulting firm who focuses on women's consumption," said.

"Only the product will rise, the biggest impact is the day cat." "Heng to" Chinese entrepreneur, "said that the original brand of internet sales channel 70% is in the Sky cat, and now the shunt effect is obvious, the cat accounted for the ratio has fallen to 50%. On the other hand, Beijing East, which has always been dominated by male consumption, is also considering expanding to the female consumer market.

March 8, a competition for female consumers of the electricity business Open: "Cheat girls, the consequences are very serious!" has always been 3 C home appliances category mainly Beijing East unexpectedly put a series of female consumption-oriented advertising, main "beauty makeup" and other categories, at this time, Lok bee Nets "Peach Blossom Festival" is in full swing, Taobao is invited to the woman's mind, "Long legs God" min do endorsement. Behind all this, it shows that the electric business is aware of the enormous potential of the female consumer market.

In addition to the giant ring, the only product will also face the big shuffle of electricity quotient pattern. Tencent 214 million dollar stake in Beijing east has been the bottom of the net, and Tencent's platform QQ network shopping, Pat NET will be merged into the east, once the Beijing-East alliance with Tencent, Electric business will be rewritten. In this respect, the only product will give the response is the mobile terminal, in mid-March in the micro-letter "SELECT goods" channel launched the mobile end of the "timed snapping." Shenya said in a recent conference call that only the mobile end of the first quarter of 2013 accounted for 8% of total sales, the fourth quarter of 2013 grew to 23%, the last one months grew to more than One-third, and the future will continue to grow.

Reverse Internet survival

Only goods will be high stock prices behind there is no "push hands"? One version is, only the goods will be listed at the beginning of the stock price fell sharply, Shenya, and then called the Wenzhou Chamber of Commerce responsible for help. As a result, in a very short time, the Wenzhou businessman Circle has made up a sum of money for Shenya solution of the urgent.

Regardless of this version of True and False, the only product will and Shenya behind the Wenzhou business district is indeed a factor that can not be ignored. Data show that only the angel investors are Zhejiang Wenzhou people, and founder Shenya, Hong Xiaobo for the Yangtze River Business School students, of which two are the clothing brand Law Group boss Peng and the domestic women's brand European-time Force boss Xu Yu, no one has internet background.

What does a company with no internet genes rely on to gain capital? There are some little-known secrets about the only thing, perhaps to some extent, to tame the many doubts.

Shenya and Hong Xiaobo have long shared an office, in addition to the general manager of the use of transparent glass partition independent Office, the basic use of the full open, there is no obvious department logo. In addition to these transparent arrangements, it is rare to see traces of a typical internet company. And unlike traditional internet companies, the only thing that will occupy the most is the customer service department and the shooting room, IT department only occupies a small corner.

Shenya never wanted to talk about the buzzword in the IT world, "Big Data", "cloud computing" and so far away from him, "We are more of a traditional retailer." "Shenya to the Chinese entrepreneur," the technology of the product will not be strong in the whole it field, "We know more about business than electricity. ”

There are a few special points that can easily be overlooked. First, the only product will be a "heavy company." Jingdong main 3C and other standardized products, and only the product will be the lowest standard of clothing, shoes and hats and other general merchandise. "The biggest difference between us and Jingdong is that Jingdong does not need to buy a hand, there is no professional threshold, and we say that we should not sell out of things in the good sell the pick out, this threshold is how high?" Yangdonghao said that only the goods will have a team of more than 600 people buying. Buy hands are mainly from the "Ruili", "Xin Wei" and other beauty and fashion media editors, high sensitivity to fashion, which deals with inventory-oriented special selling site is the first hurdle.

Even, the only product will be huge online customer service team than the General Electric Company to "heavy". "There is almost no telephone service in Jingdong, and we have a call center of more than 300 people." "Shenya to the Chinese entrepreneur," said the fashion category of consumers and 3C department stores very different, only products will be more like online outlets.

The electric business circle has been arguing about the "buying hands" operation mode of the only products. A Dangdang staff told reporters, "When Amazon is using the long tail theory and large data for customers to accurately match the demand, there is only the goods will be so heavy offline way to do procurement, it is contrary to the nature of the electrical business." "and Shenya that only the product will be based on the category of clothing to determine the operation of the way, personalized category of operation and standardization of the category of different categories, the homogeneity of serious goods it is difficult to achieve high gross margin."

Second, the only product will be the only one does not set up a search of the electric business site. In other electric Shangdou vigorously improve the user's search experience, improve the accuracy of the search match, the only product will be contrary to the road, on the full page incredibly do not set a search box. Only allows users to purchase according to the brand link set by the only product, which stems from Shenya's understanding of women's business.

Heng The Chinese entrepreneur, setting up search on the internet is a masculine thought. Women's thinking is emotional and fragmented. "You see Suning and Jingdong are mainly text, unlike the only product will be a large picture, pink and purple page tone, stimulating the consumption of women." ”

Shenya do not want to enter the industry's fierce "parity" pattern trap, but constantly introduce new products to stimulate women's "impulse consumption." In Shen's view, most women buy is no purpose, to stroll mainly, only goods will attract is this woman, if once let her start to search, parity, thinking, then there is no perceptual consumption. This is why only the repeat purchase rate is the highest in the electric business industry, reached 70%, it is this 70% of repeat customers contributed 90.6% of the order volume.

"Only the product will be in operation thinking is very close to millet, only service a specific group of people, high loyalty, and will repeat the purchase." "Only one supplier of the goods will be able to digest the stock of the capacity is very amazing, according to his introduction, only the product will be the brand's operating capacity is the leading." "For example, if a brand is to be sold on a single product, it is measured by at least 200 stores online." "The supplier told the reporter, only the goods will sell the best is not foreign big-name, but more than two or three-line city stores more local brands." Shenya is very knowledgeable about the needs of customers in non-front-line cities, the name has been heard, plus the cheap enough, these two points can be sold online good.

With this series of seemingly "counter-internet thinking" moves, the product will grab a large number of three or four-line urban female consumers. "Most of them have a monthly salary of 2000 to 8000 yuan, not so sensitive to style, pay more attention to brand and price." Yangdonghao the "Chinese entrepreneur" to describe the main target group of the only product. According to Yangdonghao, only the goods will be in the first-tier city orders accounted for only about 13%, while the second-tier capital cities accounted for 30%, or even four-line cities and counties accounted for more than 20%. This is also from the Tang Tanji Logistics director of the interview was confirmed, "our Inner Mongolia and Guizhou province orders have entered the top ten provinces." ”

This explains to some extent that the only thing that can be "polarized" is the performance of "polarization": You may not even hear the name of the site and rarely see anyone else on the site when the price and performance are soaring.

If only the goods will be able to, as Yangdonghao said, the target positioning of the three-strong one seat, "Jing dong with only goods will have a war in the future," Shangxiang, a veteran of the electrical business, said to the Chinese entrepreneur, "only the goods in private will be jingdong as" the main competitor ", and this 38-section marketing war for them to flip the first shot.

"According to the electricity quotient three cent world pattern, only then the goods will now 10 billion US dollar valuation is also quite cheap." Yangdonghao the Chinese entrepreneur. Another former competitor, Short, is now in a different position before the dawn of the IPO.

And that's just what the outside world is worried about-whether it's going to be another bubble.