Text | Huashang Taoluo Horse wing fly
11 years ago, the advertising slogan "Fall in love with SHE, love Daphne" became a household name; 11 years later, Daphne rushed to the top of the hot search because of her withdrawal from offline.
On August 25, Daphne announced that it would completely withdraw from the physical retail business of domestic mid-to-high-end brands. Many netizens expressed regret: Grandpa Qingjie (Grandpa's youth is over). After all, Daphne really carries the memories of the 70s, 80s and even the post-90s generations.
Daphne is a well-known casual women's shoe brand in China, entered the mainland market in 1990, with the positioning of urban beauty, coupled with the star spokesperson effect attracted a large number of female consumers, with annual sales of up to 8 billion yuan! After 5 years, it was successfully listed in Hong Kong.
2012 was daphne's peak, achieving revenue of HK$10.529 billion, 6,881 stores, and almost all the commercial streets of various cities in China.
However, with the diversification of consumer culture and the rapid development of the economy, Daphne has always stared at her own acre and three points of land, only expanding stores, not innovating in design, and gradually "passing".
According to Daphne's financial report, since 2015, Daphne has achieved revenue of 8.38 billion, 6.50 billion, 5.21 billion, 4.13 billion and 2.13 billion yuan, and in the first half of 2020, the revenue decreased by 85% year-on-year to HK$212 million, although the revenue still exceeded 100 million, but the decline was getting bigger and bigger.
Between 2015 and 2019, Daphne's net profit was HK$379 million, HK$734 million, HK$994 million and HK$1.07 billion respectively. By the first half of 2020, the net profit loss was HK$141 million, compared with a reduction in the loss margin.
The number of stores daphne values most has also decreased sharply. From 6,881 stores at its peak in 2012, it has fallen to less than 300 today. In 2019 alone, the total number of Daphne stores decreased by 2395, with an average of 6.7 stores closed per day.
Along with the number of Daphne stores, the stock price also plummeted, falling for 8 consecutive years. From the peak of 2012 10 yuan / share, fell to only 0.22 Hong Kong dollars / share, the market value has also fallen from 18.6 billion Hong Kong dollars, fell to 330 million Hong Kong dollars, equivalent to only 1.6% of the market value.
In addition to Daphne, Belle is also a well-known women's shoe brand after the 80s and 90s. Its brands such as Tianmeiyi, Sikato and TaTa are regular customers in shoe cabinets. At its peak, Belle had more than 2,000 offline physical stores nationwide and had won the first place in China's women's shoe sales list for 13 consecutive years.
In 2014, Belle began to decline, turnover began to gradually decline, in 2017, the "shoe king" Belle announced its delisting, and finally was acquired by other brands, announcing the end.
The decline of these shoe and apparel giants began to appear from 2012, and it is the international fast fashion brands that have entered the Chinese market in a big way. At the same time, the rapid rise of China's e-commerce, in the sinking market, online shopping has brought many cheap and high-quality brands, attracting many consumers.
But in the face of the era of online shopping e-commerce, these old brands did not seize the opportunity to carry out drastic reforms, but indulged in the false prosperity brought about by store expansion. Therefore, those who have lost the opportunity to do so, whether it is channel expansion or brand promotion, are lagging behind other new brands, and will naturally be gradually eliminated by the market.
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