The down jacket with a list price of 1598 yuan costs only 75 yuan? Recently, Yi Nian (Shanghai) Fashion Trading Co., Ltd., a registered company of The Korean Yilian Group in China, was fined more than 14,000 yuan by the Beijing Xicheng District Market Supervision Bureau for shoddy charging, and this topic also landed on the first hot search yesterday (February 9). According to Tianyan, Yinian (Shanghai) Fashion Trading Co., Ltd. is wholly owned by Yinian (China) Investment Co., Ltd. On February 10, Nandu reporters called Yinian (China) Investment Co., Ltd., but as of press time, the phone could not be connected.
Screenshot of Weibo
The cost of down jacket is only 75 yuan, and the list price is 1598 yuan
The hang tag premium is up to 20 times
According to the penalty information, after investigation, Yinian (Shanghai) Fashion Trade Co., Ltd. entrusted Dandong Xiangteng Garment Co., Ltd. to produce 80 products for it on July 2, 2021, with a production cost of 75 yuan / piece. The products indicate the implementation standard GB/T14272-2011 "Down Clothing", GB18401-2010C "National Textile Products Basic Safety Technical Specifications".
On September 20, 2021, the company used 7 of them for sale at the counter of Beijing Hanguang Department Store Co., Ltd. (Hanguang Department Store) and 2 of them for sale at the counter of Beijing Juntai Pacific Department Store Co., Ltd. (Juntai Department Store) with a list price of 1598 yuan per piece. As of November 3, 2021, a total of 2 pieces (1 of which were sold by spot check) had been sold and had not been recovered. Sales totaled 2237.2 yuan (sold at a price of 30% off the list price). After deducting production costs and expenses withheld by the mall totaling 742.86 yuan, and paying taxes of 171.89 yuan, the company made a profit of 1322.45 yuan. The total value of the above products is 14382 yuan.
The Xicheng District Market Supervision and Administration Bureau of Beijing Municipality believes that the above acts violate Article 39 of the Product Quality Law of the People's Republic of China, which stipulates that "sellers selling products shall not be adulterated or adulterated, and shall not be falsely filled with truth and shoddy products, and shall not be passed off as qualified products with unqualified products", and according to Article 50 of the Product Quality Law of the People's Republic of China, Yi Nian (Shanghai) Fashion Trading Co., Ltd. was fined 14,382 yuan.
Screenshot of the official website of the Beijing Municipal Bureau of Market Supervision
He has been fined many times for product quality problems and false publicity
Previously, the sale of "wool coats" was detected without wool
According to the National Enterprise Credit Information Publicity System, before that, Yinian (Shanghai) Fashion Trade Co., Ltd. had a total of 5 administrative punishment records. Last year, he was fined twice for product quality problems, including his washed jeans and trolley cases being unqualified.
Screenshot of the official website of the National Enterprise Credit Information Publicity System
It is worth mentioning that on June 8, 2021, he was fined 200,000 yuan by the Shanghai Municipal Bureau of Market Supervision for false publicity, and the decision of the administrative penalty showed that the product with the brand SPAO and the nominal product name of the women's wool coat was detected to have 100% polyester fiber and no wool component in the fabric and lining. The Shanghai Municipal Supervision Bureau believes that the company produces and sells women's coats that do not contain wool ingredients, but adds the word "wool" to the name of the product, which is suspected of violating the provisions of the first paragraph of article 8 of the Anti-Unfair Competition Law of the People's Republic of China and constituting false publicity.
Screenshot of the administrative penalty decision
background
In recent years, it has sold its brands several times
THE E · LAND GROUP) official website shows that it was founded in 1980, initially started as a women's wear business, has now become The number one fashion retail company in South Korea, with brands including ELAND, SPAO, Prich, new balance and so on. The official website also shows that in 1994, Yilian Group entered China, successively introduced more than 40 brands, and had more than 7,000 stores in more than 100 large cities across the country. In 2007, Yinian (Shanghai) Fashion Trade Co., Ltd. was established.
Screenshot of the official website of Yilian Group
In recent years, Yilian Group has sold its brands many times. According to reports, the purpose of selling assets of Yilian Group is to improve the financial structure, and its debt ratio has climbed year after year, reaching 399% at the end of 2013, while Yilian Group's long-term goal is to reduce the debt ratio to 100%.
In 2017, Yilian Group sold its brand Teenie Weenie (Winnie Bear) to China's Vignace Fashion Co., Ltd. (later renamed Jinhong Group) for a transaction price of about 5 billion yuan. "TeenieWeenie China" official micro introduction, the brand was founded in 1997, in 2017 by the Chinese fashion company Jinhong Fashion Group wholly acquired, the brand inspired by the classic Ivy League style of the 1950s, with bear cartoon image depicting the lifestyle and dress code of the upper class in the 50s.
However, in 2019, the two parties went to court over a dispute over the sale and purchase contract, and Yilian Group hoped that Jinhong Group could pay the transfer price of 454 million yuan owed and the liquidated damages for late payment. On October 20, 2020, Jinhong Group issued an announcement that it and its subsidiaries intend to sign and implement the Settlement Agreement with Yinian Shanghai and other relevant parties, and the two parties reached a comprehensive settlement with a total settlement amount of 476 million yuan.
Screenshot of the announcement released by Jinhong Group
On May 2, 2019, Xtep International issued a transaction disclosure announcement, saying that the company decided to acquire a full stake in E-Land Footwear USA Holdings for $260 million in cash. E-Land Footwear USA is an American entity established after the acquisition of Korea Yilian Group, which owns three well-known global sports brands K-Swiss, Palladium and Supra, as well as two sub-brands PLDM and KR3W.
In addition, on April 25, 2020, SPAO Guangzhou R&F Haizhu City store was officially closed, which is the brand's first and only store in South China, according to SPAO's announcement, the closure of the Guangzhou store is due to the company's operational strategy adjustment. According to the SPAO WeChat public account, the brand is a fast fashion brand under the Yilian Group, positioned as "suitable for Asian body type, skin color, temperament", "with a variety of color options and affordable pricing". According to public information, in December 2013, the brand opened flagship stores in Shanghai and Beijing for the first time, officially entering China, and opened more than 50 stores at one point in its glory days, but after 2017, it experienced large-scale store closures. According to the data of the official public account, the brand currently has 14 stores in China.
Written by: Trainee reporter Feng Jiaju
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