The 32-year-old rich second generation became the richest owner. Can you save the Blue Ocean Building this time?

Jing Guan financial eye columnist

After Dayu proclaimed himself emperor, he passed the throne to his son Qi.

This is the earliest hereditary system in China. Until today, most enterprises still retain the practice of "hereditary system".

If you list the data, you will understand that two-thirds of the enterprises in the world are family businesses, and 70%-90% of the global GDP is created by family businesses. The number of employees employed by family enterprises in the world accounts for about 50%-80% of the total labor force, and 85% of private enterprises in China are family enterprises. * The data comes from Wu Zhijian, a survey subject in Zhihu.

Although people in China say that wealth cannot exceed three generations, historical data analysis also shows that only 30% of family businesses can spread to the second generation, 12% to the third generation, and 3% to the fourth generation and above. But it doesn't prevent the rich from inheriting their careers to their disappointing or disappointing sons.

Hard all my life, just for my wife and children!

If the son lives up to expectations, the possibility of making the family business bigger and stronger is still great.

The second generation godfather Michael Corleone completed revenge, expanded the family business and enjoyed the power of money;

Li Jianxi, the second generation president of Sanxing, made Samsung the largest semiconductor company and mobile phone manufacturing company in the world.

The mantle of the Blue Ocean family was also passed from Zhou Jianping to his only son, Zhou Lichen.

After graduating from the Finance Department of Tsinghua University at the age of 22, Zhou Lichen did not go home immediately to take over the family business, but chose to go to an investment institution in Shanghai to exercise.

He went to Zhixin Capital, an overseas investment fund management platform focusing on investing in the China market. Interestingly, Trust Capital once invested in Blue Ocean Building.

At Zhixin Capital, he broadened his horizons and accumulated many contacts. On 20 12, Zhou Lichen returned to the family business and took over the advertising department of Blue Ocean House.

20 17 Zhou Lichen officially took over his father's mantle and became the president of Blue Ocean Group. At that time, Zhou Xiaocai was 29 years old!

On 20 19, Zhou Lichen officially became the chairman of Blue Ocean Real Estate Co., Ltd. and Blue Ocean Group.

1. What does the Blue Ocean Empire depend on?

When Zhou Jianping spent 300,000 yuan to establish the third woolen mill in Jiangyin in 1988, no one expected that it would become a huge blue ocean empire.

After 33 years of development, the development of Blue Ocean House is inseparable from the troika-marketing, stores and brand matrix.

marketing

Zhou Jianping is a marketing expert.

1994 Wool Mill was upgraded to Jiangsu Sanmao Group Company. The name of Sanmao Group is rustic enough. After Sanmao Group went public in 2000, it was changed to a foreign-style international name by Lao Zhou: Saint Kai Nuo.

Under the name of high-end, the company went public, and the next step is to expand sales. Every spokesperson in Blue Ocean House's advertising career is extremely classic.

From Tony Leung Chiu Wai to Wu Dawei, from Yin to Du Chun, and from Jay Chou, the choice of spokespersons reveals the development and ambition of the House.

Especially in the Yin Dynasty, the government's net profit rose from 1 billion in 20 12 years to13.5 billion in 20 13 years, with a year-on-year increase of 1 157.58%!

The marketing of Blue Ocean House is also very direct. In the past, when TV was mainstream, sales expenses were mainly spent on TV stations.

After Zhou Xiao reached the summit, Lanhaihao put advertisements in various variety shows. Popular variety shows, such as Running Man, If You Are the One, Wonderful Story and Super Brain, are all platforms for its launch. During this period, the popularity of Blue Ocean House expanded rapidly.

From 20 13 to 20 18, Blue Ocean House ranked first in the market share for five consecutive years, reaching 4.6% in 20 18.

shop

In addition to marketing, another carriage that drives the Blue Ocean Empire is the store.

According to statistics, the number of stores of Lanhaifang Group increased from 3990 in 2065 and 438+05 to 7255 in 2020.

Simply talking about the stores of the Blue Ocean House series and choosing the geographical location of "prime location and diamond shop" is simply a criterion for judging whether the third-and fourth-tier cities are prosperous enough.

In fact, Blue Ocean Home in third-and fourth-tier cities is generally a franchise store, and direct stores are usually only opened in shopping centers in first-and second-tier cities.

What is a franchise store?

For example, you want to be a boss, but you have nothing but money. How do you start?

The franchise store of Blue Ocean House will help you fix everything: the boss directly signs an agreement with Blue Ocean House, and there is no middleman to make the difference; Blue Ocean House is responsible for the supply and sales management of goods, and the boss only needs to pay.

I prefer to call it "opening a shop like a fool", which is simpler than 4395 games.

This model of direct stores+franchise stores has expanded the stores of Blue Ocean House like mushrooms after rain. By September 30, 2020, the offline stores of Blue Ocean House were all over 3 1 province, covering more than 80% of counties and cities, and offline stores were opened in Southeast Asia.

Brand matrix expansion

Before 20 16, the brands of Blue Ocean House were generally divided into men's wear, women's wear, affordable wear and professional wear.

20 17, after Zhou Xiao took office, he carried out drastic reforms. The first thing is to subdivide the clothing industry and turn men's wardrobes into family wardrobes.

White-collar women's wear: OVV, after starring in "Nothing, Only Thirty", sales increased greatly.

Trend brand: Black Whale, although not well-known at present, has been living.

Sports men's wear: AEX, to meet the needs of sports people, but there are too many sports brands, and there is no prospect at present.

Children's wear: the boys and girls who have achieved holding in the 20 18 investment have accumulated a certain market before, and the number of stores is not included in the total number of stores in the group.

Home brand: Lanhai Youxuan, one-stop home product collection shop.

Zhou Xiao is really well-intentioned, and expanding the layout and brand matrix is the most popular practice on the Internet. At present, the women's clothing brand OVV has made some progress-after the hit of Nothing, Only Thirty, its sales volume and popularity have been effectively improved.

Second, the crisis in the second half of Blue Ocean Palace

Undeniably, Blue Ocean House occupies the first place in the domestic men's wear market by virtue of the advantages of troika. But in the second half of the story, the crisis is everywhere.

Excessive marketing expenses.

With the increase of advertising, the cost of sales is also rising. From 20 11.40 billion to 2.4 billion in 20 19.

The proportion of sales expenses has also increased. These expenses are the goodwill of Blue Ocean House, but intangible assets cannot be turned into tangible assets.

Inventory risk

First of all, let's talk about the hidden dangers brought by franchise stores, which is the biggest reason why Blue Ocean House is currently in crisis.

The "light asset model" of franchise stores has advantages and disadvantages.

The advantage is that the form of franchise stores allows many investors to enter, which ensures the expansion of Blue Ocean House stores, with traffic without advertisements and controllable products.

The disadvantage is that all the clothes that the franchise stores can't sell are borne by Blue Ocean House, and there is a risk of inventory transfer.

While the store is expanding rapidly, the inventory of Blue Ocean House is also increasing.

20 12-20 13 The gap between gross profit rate and net profit rate is too big, because there are too many inventories caused by the expansion of stores, and the unsalable inventory causes profits and losses.

Although the gross profit margin has always been high, the net interest rate is the basis for measuring whether a company's future cash flow is sufficient. However, the net interest rate of Blue Ocean House experienced a rapid increase at 20 14, and soon eased and declined, which showed that the profit of the enterprise was not as good as before to some extent.

Blue Ocean House's light asset model does have many advantages. The effective use of asset leverage improves the ability to integrate stocks.

Under the mode of ignoring assets, the goodwill of the brand is particularly important. Blue Ocean House has formed a unique impression of Blue Ocean in market occupation and sales for many years and has been recognized by the society.

But the disadvantages are more obvious. Blue Ocean House's light asset model needs constant capital injection to maintain brand marketing, but goodwill, an intangible asset, has too much uncertainty and great risk of being replaced as a fixed asset of enterprises.

The other is the inventory problem brought by the light asset model. Excessive inventory accumulation increases management costs and may depreciate.

After the initial period of high gross profit margin, Blue Ocean House, along with the inventory risk and the increase of asset-liability ratio, has been alleviated due to the increase of total assets of enterprises in the past two years.

At present, the short-term solvency (current ratio) of Blue Ocean House is in a normal state, and there will be no deficit after paying off debts, but the quick ratio was once lower than 1, which is not conducive to capital turnover.

Brand goodwill

Blue Ocean House is a men's wear brand, so I have consulted my male friends about their attitudes towards Blue Ocean House.

Most people hold a "indifferent" attitude: they will try on clothes offline, but if they buy them online, they rarely consider the Blue Ocean House.

Although the clothes of Blue Ocean House look a lot, and new products are constantly placed on the ground every month, in my shallow fashion vision, these clothes are too old-fashioned, which may not be acceptable to people around 30 years old.

An industry teacher who didn't want to be named said: Blue Ocean's shop is full of clothes, so it's quite embarrassing. Like a big store, I won't buy it without a big horn, even in Jay Chou!

Speak with faith and land with your voice.

The times are developing and men's aesthetics are rising. Men who go shopping more than twice a year are also very concerned about the style and design of clothes.

Third, can the Blue Ocean Empire regain its glory?

In 2020, the sales volume of "Blue Ocean House" declined briefly, but it is impossible to deny its position as the number one seller.

Even if the fast fashion collapses one after another, the blue ocean building with abundant funds will not fall down soon. In order to change the joining mode that leads to inventory, Blue Ocean Home Furnishing Group iterated the traditional distribution joining mode of clothing industry into a strongly controlled retail management mode.

In the supply chain, Blue Ocean House does not have its own factory, but it manages the whole process from production to sales in a unified way, reducing intermediate links and reducing costs.

At the same time, online resources are also expanding, and online and offline prices are the same, so that brand influence is not affected.

Even if the epidemic is so serious, the third quarterly report of Blue Ocean House shows that the company's online business income increased by 55.64% year-on-year, and the proportion of the company's main business income increased from 5.93% in the same period last year to 1 1.59%, fulfilling the target of 10% set at the beginning of the year ahead of schedule.

In the design of clothing, control has been strengthened. Designers in the headquarters evaluate which styles are more popular according to the fashion trend, and then let the factory make them to order.

In the past two years, Blue Ocean House has continuously launched a very popular IP joint fund. For example, cooperation with movies, games and even variety shows such as "Make a scene in Heaven", "Madagascar", "Attack of the King" and "Stimulate the battlefield".

Blue Ocean House also invited Zhou brand manager as a design consultant, and the overall style was minimalist and fashionable, finally getting rid of the colorful tacky.

This is the "fire" since President Zhou Xiao took office.

At the handover ceremony, Zhou Jianping taught Zhou Lichen the word "make contributions", and he did it.

There are many stories about the rich second generation. It is easy to conquer the world, but difficult to defend it. What Zhou Lichen learned was the "defensive" thinking that Zhou Jianping lacked.

Because of this, there is no need to be pessimistic about the Blue Ocean Building. After all, Tencent invested 654.38+0 billion in him. Ma Yun visited Amas, and Dong Qiang brought goods for him.

The power of capital, you know.

What Blue Ocean House should consider, or what President Zhou has been considering, is the core competitiveness. If you want to last as long as luxury brands, is this enough at present?

In order to seize the future, it is not just the problem of "rejuvenation". Will Can Zhou Jerry Lee, 32, be a good successor?