Red Star Macalline, which has not broken through the market for one year, is breaking news. On February 11, Red Star Macalline Group officially announced that it will wholly acquire the third-ranked JSWB in China's home furnishing industry. In the next few months, China's home furnishing industry will usher in the largest integration in history. Some insiders said: "On the one hand, the home industry as a whole is in a surplus stage, and the industry needs to integrate between enterprises; on the other hand, the home industry is in a surplus stage and provides conditions for integration. The transformation of the home market in the future is full of suspense. "This acquisition will set off a wave of consolidation in the industry and a major earthquake that will change the overall industry landscape.
Retaining Jisheng Weibang to promote dual brand strategy
The acquisition of JSWB by Red Star Macalline can be described as twists and turns. As early as the second half of 2009, the industry was rumored that the two giants of China's home furnishing industry, Red Star Macalline and JSWB, carried out the so-called "deep cooperation." In January 2010, more media took the lead in disclosing internal news – originally known as “acquisitionâ€, which ended in failure. However, in the process, neither party has issued any official statements. Since then, news about the merger and acquisition of the two sides has continued to spread, and it has been unsuccessful for four years.
On February 11, the official V of Red Star Macalline officially announced that it would acquire the third-ranked JSWB in the industry. The two parties have signed a framework agreement and will complete all acquisitions in the near future. At the same time, it declared that "in the next few months, China's home furnishing industry will usher in the largest industry consolidation in history." It is understood that the two sides have officially signed the previous day, and JSWB has already announced the matter to insiders. The reporter was also confirmed by the head of the Red Star Macalline South China Operations Management Center. The official documents of the group were also issued on the morning of the same day. After receiving the news, the whole team expressed their excitement and thought that this would make up for the Red Star Macalline in South China. There are shortcomings and disadvantages of market channels.
The reporter was informed that after the completion of the acquisition, Red Star Macalline will continue to retain the “Jishuang Weibang†brand, and use its accumulated brand influence and market reputation to promote the “double brand†strategy: JSWB will retain the original brand and continue the high-end route. The Red Star Macalline is dominated by mid- to high-end audiences, which can complement each other and occupy different market segments.
In the official text of Red Star Macalline, it was stated that “the building materials category will be added to the “Furniture Village†model of JSWB and become the world home factory direct sales center.†In this regard, the industry interprets this as the management of JSWB will be implemented. Localization.
Or sprint for the listing of the first listing store
Red Star Macalline has been working hard to achieve the listing plan. In December 2013, the China Securities Regulatory Commission announced on the official website the list of auditors and the review process for initial public offerings (IPOs). Red Star Macalline entered the list of basic information submitted by the Shanghai Stock Exchange for the first time, which means Red Star Macalline, which has been listed for many years, has entered the substantive declaration stage. If the listing is successful, Red Star Macalline will become the first listed home store in China.
According to the information table, the declared enterprise is Red Star Macalline Home Group, the registered place is Shanghai, the industry is wholesale and retail, the proposed listing is Shanghai Stock Exchange, and the sponsor institution is Huaan Securities Co., Ltd., the state of remarks It is in the first trial. A Red Star Macalline executive told reporters that "for Red Star Macalline with annual sales of more than 60 billion yuan, the financial data for these months is a huge project. If there is no accident, it may be the end of this year. It will be successfully listed at the beginning of next year."
It is understood that the fast-expanding Red Star Macalline has repeatedly raised funds, but because the enclosure is too fast, it has been in the rumors of difficult capital turnover. From the outside world, it is advantageous to choose M&A for the Red Star Macalline that is sprinting. Because mergers and acquisitions can directly increase the assets and market share of Red Star Macalline and stabilize its position in the industry, it is conducive to attract investment institutions to invest in Red Star Macalline. However, a senior furniture agent who did not want to be named vividly compared it to "there is no limit to the listing, and it may be a deep abyss."
Guangzhou market pattern changes
It is reported that Red Star Macalline has opened 125 stores in more than 90 cities across the country and has become a leading company in China's home circulation industry. JSWB's outlets are mainly in the economically developed Yangtze River Delta, the Pearl River Delta and the northeast region centered on Changchun. Its “Furniture Village†brings together more than 1,000 domestic and international home furnishing brands, with exclusive or flagship display of nearly 70 brands in dozens of countries. The hall, which is dominated by high-end market positioning, has always been regarded as one of the leading stores in the field of home furnishing in China. After the acquisition of JSWB, Red Star Macalline will strengthen its market in Shanghai, Guangzhou and Changchun to further consolidate its home market. Industry experts pointed out that the current domestic home furnishing industry brand concentration is still very low, the national channel flagship will be conducive to the formation of large brand manufacturers, with a strong brand incubator role. However, there are still many concerns behind the frenzied expansion of home stores. The closure of the Oriental homes last year and the collective strike of B&Q are a microcosm.
According to the year-end statistics of the China Furniture Association, sales of home stores increased in 2013, but profits fell, and the industry had a surplus of stores. On the other hand, many merchants complain that the entrance fees and rents are too high. There are already building materials companies to build their own channels to counter the high rents of home stores. Red Star Macalline acquired JSWB, and the two sides will be able to integrate horizontally and make a large-scale, consolidate the leading position of the Guangzhou home furnishing industry, far from the competitive strength of competitors. In the industry's view, the home needs a sense of experience, perhaps not like the ordinary shopping malls will be greatly affected by e-commerce, but the drawbacks of the old model have begun to vaguely emerge. "The era of rapid growth has passed, and the home sales industry has entered the new bottleneck era. The current mode of pursuing scale or blind high-end is bound to be difficult to sustain." Li Zhikuan, general manager of Gao Dehui said. On the one hand, the scale of concentration is improved, and on the other hand, it is a small and sophisticated life experience. The change of the home circulation market is worth waiting for.
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