DE RUCCI, sleep fun, CBD speed up, software furniture industry add new male?
Since 2020, three other companies specializing in soft furniture have announced their listing plans and submitted their prospectus, including DE RUCCI, fun sleep and CBD home furnishing.
Source: Big material research
the pace of soft furniture advancing towards the capital market has all accelerated.
Big material research has noticed that since 2020, at least three other companies specializing in soft furniture have announced their listing plans and submitted their prospectus, including DE RUCCI, fun sleep and CBD home furnishing.
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previously, Gu Jia, SLEEMON, Minhua and dream Lily had already been listed in the industry.
The market value of Gu family is generally maintained at around more than 40 billion to 50 billion. The current market value of SLEEMON is more than 12 billion, dream Lily is also at more than 11 billion, and Minhua Holdings is about HK $More than 76 billion.
Of course, there are also many listed companies that are also making soft products such as mattresses and sofas. However, the above seven companies either started with soft furniture or focused on software, the whole revenue is mainly contributed by software.
DE RUCCI: take the high-end route and brand matrix
the information about listing on DE RUCCI also came from October 202020. at that time, it was mentioned that the registration of counseling filing was handled in Guangdong Securities Regulatory Bureau.
From the listing process, DE RUCCI has reached the second step, that is, the coaching phase, which usually takes several months and will be longer.
After the guidance is completed, the application materials will be submitted to the CSRC. Later, we will go through the stages of communication and feedback, upload and review meetings, and official release.
So, what is the revenue of DE RUCCI? Clear data will not be available until the prospectus is submitted.
However, there were previous reports that the revenue in the first two years of DE RUCCI reached 3 billions or 4 billions, and the plan of 10 billion yuan was formulated in 2017.
Compared with the influence index, SLEEMON is a segment, but the positioning is more high-end, and the value of customer orders is expected to be higher.
In some public information, DE RUCCI said that there are more than 4800 stores in the world, mainly in the Chinese market, and at the same time, Australia, the United States, Italy, Canada, etc.
According to the research of Big materials, the management strategy of DE RUCCI is quite unique:
first, it is quite successful in building high-end brands. Now I think of high-end mattress brands in the first time. DE RUCCI is basically one of them, which is not much different from the level cognition of brands such as jinkeer and Shuda.
Second, multiple sub-brands form a matrix, with DE RUCCI as the main force, creating multiple sub-brands, including glodia, Cage, 3D, 0769, V6, SOFINA, EDIC, Children, International, sleep aid, PAULY, Seuss, etc.
Each sub-brand has its unique positioning and target customer groups, such:
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glodia mainly focuses on female user groups, mainly in the styles of Jianou and so easy so beauty.
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Kaiqi mainly promotes fabric Thai latex, highlighting modern & minimalism.
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The 3D brand starts with 3D materials and is an independent brand starting from materials.
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Seuss is a sleep brand specially created for European style.
Third, the product keeps high-frequency innovation, from latex to intelligence, basically there is no lag behind, especially the current intelligent mattress, which can be said to be relatively ahead.
Fourth, the high activity and specific play of marketing can be ranked in the entire pan-home industry, such:
"Sleep Culture Tour" has been held for many years in a row; The white paper on sleep has been released; The sleep Music Disc "sleep" and new year's films have been produced, etc.
In recent years, the category layout of DE RUCCI is also expanding, involving massage chairs, home textiles, sleep aid products, sofas, bedside tables, dressers, leisure chair, beds, etc., and involved in electric bed, launching several products.
There is also a full bedroom design plan, including the overall matching design of bed frame, bedside table, bed end stool, occasional table and chair, clothes rack, dressing mirror, etc.
Fun sleep: 0.5 billion-level volume, focusing on online
the news in June showed that Chengdu's fun sleep technology updated the prospectus, in which a lot of tough data was posted:
star product latex mattress M1,2017-2019, annual sales exceeded 70000; Latex neck pillow Z2, annual sales exceeded 300000.
Revenue continued to grow. In the first quarter of 2021, revenue was about 0.112 billion yuan, up 29.65 percent year-on-year; Net profit was 16.8598 million yuan, up 29.76 percent year-on-year.
It is estimated that the revenue in the first half of the year can reach 0.227 billion yuan to 0.247 billion yuan, and the net profit is about 33.8098 million yuan to 35.7552 million yuan.
Big material research has paid attention to fun sleep. This is a company that makes furniture, home textiles and other products. The specific categories include mattresses, bedding, pillow, eye masks, quilts, sofas and so on.
In 2020, the gem pilot registration system began, and Shenzhen Stock Exchange announced the acceptance list. At that time, Dazhu research noticed that among the two selected enterprises in Chengdu High-Tech Zone, it was interesting to sleep in science and technology.
In the declaration published at that time, we could see the strength of fun sleep, focusing on the data from 2017 to 2019, with revenue of about 0.308 billion yuan, 0.48 billion yuan and 0.55 billion yuan respectively; Net profit of 25.1449 million yuan, 43.87 million yuan, 73.9298 million yuan.
Specifically, by 2019, the mattress income was 0.26 billion yuan, accounting for; The second was pillow products, with the income reaching 0.14 billion yuan, accounting.
Gross profit margin is relatively low, with 28.76%, 29.74% and 33.57% respectively in three years, which is lower than the level of peers.
According to the observation of big material research, it is obviously different from many traditional software furniture enterprises. The focus of fun sleep depends on online sales, especially Xiaomi crowdfunding platform.
By the beginning of 2021, qusleep has launched more than ten crowdfunding activities, and some products can achieve about 7 million fundraising amounts.
The product focuses on the cost-effective route, for example, the crowdfunding price of 8H latex mattress is 999 yuan, and the leather electric leisure sofa is about 1899 yuan.
In addition, Qu Siu also opened its own 8h home flagship store, Jingdong and Suning Tesco are the third four customers; In addition, some enterprises will buy Qu Siu's products as gifts.
High-speed development is related to the financing ability of fun sleep:
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first, I got the line of Xiaomi and got the smooth investment earlier, not only the capital, but also the traffic and consumption data;
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second, Chengdu Kuankuan cultural innovation, Zhongzhe Panshi, SLEEMON, shangqian growth, etc. all have investment.
As a home furnishing enterprise established only in 2014, whether it is the strength of financing, marketing innovation and growth rate, fun sleep is a rather hardcore force.
CBD home: Level 1 billion, Red Star Macalline, elegant home standing behind
A recent listing news comes from CBD home, which is far beyond wisdom. It mainly deals with soft furniture and wooden furniture. It has submitted a prospectus and plans to be listed on Shenzhen Stock Exchange. The sponsor is Everbright Securities.
It is planned to raise 0.725 billion yuan for the intelligent production transformation and upgrading project of CBD home furnishing Huizhou production base, as well as the CBD home furnishing Wisdom Center project.
The latter includes marketing network and logistics center construction projects, smart home research and development center construction projects, CBD home flagship store and exhibition center construction projects.
Moreover, through the prospectus, we can see that the strength of the company has exceeded 1 billion yuan in terms of revenue in the last 4 years.
Specifically, in 2018-2020, the revenue was 1.17 billion yuan, 1.221 billion yuan and 1.051 billion yuan respectively; The net profit of the parent was about 0.191 billion yuan, 0.104 billion yuan and 0.127 billion yuan respectively.
In terms of income composition, the situation in 2020 is: soft bed, sofa and mattress sales accounted for 31.49%, 24.81% and 18.88% respectively, adding up to about 75.18%.
Big material research found that cabinet products have accounted for about of CBD's total revenue, and the first two years have also been more than 11%, which means there is more than 100 million revenue.
Affected by the big environment in 2020, revenue and net profit all declined significantly.
The gross profit is relatively high. In 2018-2020, it was 43.11%, 45.52% and 42.86% respectively. On average, this figure is higher than that of the four listed peers, which is about more than 10 percent age points.
As far as the distribution of sales channels is concerned, like most soft furniture, distributors have an absolute advantage, with about 97.96%, 97.63% and 91.71% respectively from 2018 to 2020.
In addition, offline direct stores, e-commerce, hotels, decoration companies and other channels are also working hard to develop.
The study noted that among the shareholders of CBD home, besides Cao Shuhan and Yang Yuanchao as actual controllers, there are Tianjin Red Star, Tianjin unexpectedly, Jiaxing Juncai, Jiaxing Yongshang, Huangpu Yongping, fei Junyong Jun, Fei Junlong Cheng, Dan Yi Consulting, etc.
Among them, Tianjin Red Star, the full name of which is Tianjin Red Star Macalline world trade household Co., Ltd., is 100% controlled by Red Star Macalline household Group Co., Ltd.
Tianjin is actually the full name of Tianjin unexpectedly Zhiju equity investment fund partnership, and the shareholders include Juran home Financial Holding Co., Ltd.
In addition to the four listed companies and the three companies to be listed, there are still some powerful players in the software furniture industry, such as AIRLAND, suibao, skexin, aiyiris, etc. It is not excluded that there is also a demand for docking with the capital market.
Especially with the intensification of competition, the rise of market concentration and the strengthening of brand effect, if it is impossible to win in the links of capital, strategy, products, channels, terminals and customers, it is easy to lose the battle, and then lose the chance to win.
For many small and medium-sized software furniture enterprises, it may become more and more difficult to break out.
(Article Source: Sina home-public number, invasion and deletion)
