Another garment company is landing on the HKEx board. On December 29, Fujian Nochi Co., Ltd. (01353.HK, hereinafter referred to as "Noci") released its global offering notice and plans to launch the offering at a price of not more than HK $ 2.88 per share (H shares) and not less than HK $ 2.03 Price, the sale of 150 million shares worldwide. Among them, 15 million shares were publicly sold in Hong Kong and 135 million shares were sold internationally. It is also expected to be traded on the HKEx at 9:00 am on January 9, 2014. Star rating critic Chen Yonglu promoted the company in the columns of Apple Daily and Headline Daily News, referring to Nochi as China's first adoption of the SPA model, the use of a number of international fast fashion retailers, focusing on market-oriented procurement mode. Its characteristic is to focus on the management of retail terminals, at the same time have registered more than 1 million members, through the establishment of membership database to promote targeted marketing. In the past three years, Nuoqi's CAGR of more than 30%, I believe this year to maintain the ideal growth, coupled with the business model and ZARA and other international successful apparel brands similar to the profitability of the Mainland than other brands ideal, stock analysts said the company's Development has been looking forward to investors to pay attention. Deng Shengxing, a famous stock critic, also promoted Nochi in the Hong Kong Economic Times column, arguing that the group is characterized by the SPA mode adopted by a number of international fast-fashion retailers and believed to be effective in preventing over-stocking in the retail sector in the Mainland. Guo Jia Yao, chief strategist for China Yinsheng Wealth Management, said the company's valuation range is 12 to 17 times P / E, slightly higher than its peers. However, due to the unique operating mode, the higher valuation can be understood, the proposed cash subscription. Market news pointed out that the first day of Fujian Nuoqi International Placing has been oversubscribed. Unique business model is considered "domestic ZARA" And the recent successful listing in the Hong Kong Stock Exchange wealthy bird is different from the odd China is the first to adopt market-oriented fast-fashion business model of the clothing brand, the use of a number of international fast-fashion clothing Retailers adopted the SPA model (private label clothing retailer model). Similar to the model of leading fast-fashion retailers such as GAP, H & M, Zara and Uniqlo, this model of development manages retail outlets and integrates retail and supply chain as the main part. By capturing the latest fashion trends and customer preferences, the design and development , Promote new products that meet the market demand. Knock also therefore be called "domestic ZARA". Despite the rapid growth of casual wear market in mainland China, apparel brands are faced with the severe form of response mechanism, product homogeneity and low design capability of high inventory and inefficient market demand. The company insists on the market-oriented fast fashion business model and flexibility Ordering mode so that retail outlets can order small quantities according to sales demand during the quarter so as to respond promptly to changes in customer demand and reduce the risk of excess inventory. Targeted Marketing with Member Database Based on the SPA model, Nuokee innovatively launched a customer affiliate program and promoted targeted marketing more effectively through member database to meet consumer preferences and needs of affiliate customers. Since its customer affiliate program was established until June 30, 2013, Nuoci has accumulated more than 1 million registered members. The company uses its vast customer base to collect and analyze useful market and customer information such as fashion trends, customer income distribution, spending habits, size and preferences for apparel, and product design and development, customer service, sales and marketing activity. The Company standardized the management of its retail network using an integrated platform Nuoqi standardized the management of its direct sales and franchised retail outlets and formulated detailed guidelines on the management of retail outlets to regulate brand positioning, product display, staff recruitment, training and employee performance assessment . Through the integrated information management system developed by the Group called IEAP, Nuoqi effectively improves the management level of its supply chain and retail outlets, and real-time access to the inventory, sales and other operational data of its direct and franchised retail outlets through the information management system and in accordance with Real-time data Make decisions about production planning, sales and marketing, and inventory management. With its strong supply chain and retail management capabilities, backed by a replicable information management system, Nuoci's sales network will rapidly expand to other markets in mainland China. Expansion of strategic retail network focus on online sales With the sustained and steady growth of China's economy, China's average increase in apparel consumption and apparel brands to enhance marketing efforts, the Chinese men's casual fashion industry grew rapidly, according to Frost & Sullivan's research shows that China Men's Casual Fashion Market Total retail sales in 2012 reached RMB77.3 billion, representing a CAGR of 15.6% from RMB43.3 billion in 2008, while the CAGR for 2012-2017 is estimated to be approximately 17.6% . As of October 31, 2013, Nuoci has a total of 438 retail outlets, including 225 direct sales outlets and 213 franchised retail outlets. Nuoqi plans to expand its network of retail outlets throughout China. In response to the huge development potential of China's third and fourth tier cities under the continuous development of urbanization, Nuoxi intends to seize the opportunity of rapid growth of the Chinese men's casual fashion market. The strategic network of direct and franchised retail outlets not only ensures that the company rapidly grows its sales network throughout China with lower capital expenditures, but also the franchisees bring local market knowledge to help them succeed in joining the retail outlets in new markets. In addition, Nuoqi also proposed to gradually realize the online and offline integrated sales strategy in the coming years. The company gradually focused on online sales and has introduced Nuoci mobile mall, allowing members to quickly and easily through the smart phone to buy goods, to achieve online and offline combination. In the first half of 2013, the Company's revenue from third-party e-commerce platforms was RMB19.9 million, a year-on-year increase of 145%. Ding Hui, Chairman of the Group, said: "Looking ahead, we will seize the opportunities brought by the continued growth of the Chinese men's casual fashion market by implementing a series of strategies to enhance our overall competitiveness and market share, including expanding our strategic retail network and expanding retail sales Expand its online sales and develop online retail platforms, expand product lines and implement diversified expansion, expand its member database and strengthen the use of member databases. With our leading fast fashion business model and retail management business strategy, we We are confident of achieving our overall business objectives and maximizing shareholder returns. "