Fuguiniao is bankrupt, do you remember those shoe brands with bird characters?

Generally, there are more brands with the word bird that make clothes, and maybe the noble bird makes sports and leisure shoes.

The noble bird has a face word, and it is estimated that it will also follow in the footsteps of the rich bird.

The sales volume of such a brand is okay now.

There are many shoe brands with birds, but they are not very famous, such as auspicious birds.

Woodpecker, noble bird, potter bird, Jacob, cuckoo.

There are quite a lot of name brands with birds, such as Taiping Bird, Guiren Bird, etc.

In addition to the noble bird, there are also noble birds, woodpeckers, and woodpeckers.

I used to hear of the Blue Bird brand, but now it seems to have disappeared.

I still remember that it was this noble bird, and this woodpecker, right?

Fuguiniao mainly wants to diversify its operations and try to develop new business sectors, but its lack of experience has led to the rupture of the capital chain.

From 2015 to 2017, Fuguiniao rapidly developed 10 investment enterprises. To the surprise of the rich bird who plunged into a new field, the road to transformation was full of thorns. In May and October 2015, Fuguiniao invested in Win-Win Club and Dingdong Wallet respectively, but due to lack of experience and huge investment amount, the company's capital chain was broken.

In order to supplement the company's funds, Fuguiniao has issued three bonds totaling about 2.5 billion yuan in the first two years. Among them, two bonds that have been effectively defaulted involve a principal amount of about $2.1 billion. The experience of folding the wings of the rich bird is typical and representative.

It is not uncommon for enterprises in traditional industries to transform into finance, culture, tourism and other fields in order to participate in the fierce competition of market saturation.

Among them, it is not uncommon to be dragged down because of blind investment. Shandong Tianxin Group, a leading textile industry with an annual income of 38.3 billion yuan, once had an asset-liability ratio of more than 100% in the process of industrial diversification, and finally declared bankruptcy and reorganization. In fact, until 2018, Fuguiniao's main business did not lose money.

The main reason for the collapse of Fuguiniao is blind investment and blind diversification. Looking back on its experience, there are at least three points for leading enterprises in traditional industries to think about.

After the rich bird was listed, it began to deviate from the painting style. It quickly grew into 10 companies, including mining companies, P2P companies, and even microfinance companies. An entity-born enterprise, after listing, is not committed to industrial development, but tries to make money through financial leverage!

After all, shoot yourself in the foot!

It was at this time that the rich bird began to go downhill.

The financial data from 2014 to 2017 show that Fuguiniao continued to operate poorly, losing money year after year, and its performance was in decline.

The performance declined year after year, and even there was a net loss, so he had to start borrowing from banks. However, Fuguiniao's credit rating has been downgraded from AA to CC, which means that "there is less protection in the event of bankruptcy or restructuring, and there is basically no guarantee of debt repayment".

The debts are high, and the rich birds are constantly fighting internally. Since November 2016, Fuguiniao has successively issued announcements on personnel transfers, and two independent non-executive directors and auditors have been dismissed. In early 2017, the resignation of the Company Secretary and Authorised Representative was announced, and the Chief Financial Officer resigned in March.

Since June 14, Long Xiaoning has ceased to be a member of the Audit Committee, the Nomination Committee and the Strategy Committee, as well as the special committee of the Board of Directors. Chan Wah Man also ceased to be a member of the Audit Committee and the Special Committee, and the Chairman of the Remuneration Committee.

Among the 6 reasons for their resignations announced by Long Xiaoning and Chen Huamin, they mainly disagreed with the company on financial and announcement disclosures, including Fuguiniao's failure to reply to the Hong Kong Stock Exchange's inquiries on factual information; the reasons for the delay in the publication of the financial report and the resumption of trading; There are differences of opinion on the company's financial information and 2016 interim results.

The industry believes that the removal of non-executive directors may be due to the disunity of voices within the company on the company's development plan, resulting in shareholder dissatisfaction.

There should be many reasons, for example, you can't keep up with the upgrading of products, resulting in the singleness of the product, and then there is diversification, which has not succeeded.

Blind expansion, the transformation has not improved, and it has fallen on Internet finance.

This must be his sales are not good, he can't sell, and the product design is not novel enough.

If you don't keep pace with the times, you won't be able to enter the market, and the consumer group is not obvious.

Fuguiniao's shoes first say that his quality is fantastic. It doesn't break out. Fuguiniao is known as the king of leather shoes in China, I think hisBankruptcy and quality certainly have nothing to do with it, it may be because of management, or other factors.

Many people still cherish the leather shoes of Fuguiniao, the quality is really good, and it is not bad to wear. Now, a generation of "China's leather shoe king" Fuguiniao has been robbed:The main founder passed away, the factory went bankrupt, and the 4 billion yuan could not be repaid, and now the listing status of Hong Kong stocks has been cancelled.

Fuguinian has been suspended for nearly 3 years, but the resumption plan has failed after all. These three years,Fuguiniao's turnover and profit fell sharply, from nearly 3 billion to less than 500 million in 2017, and there was a loss。Since then, Fuguiniao's financial report data has not been updated.

Fuguiniao has said that it is mainly due to the suspension of trading in shares and the existence of outstanding debts, which affects business operations.

On the one hand, the growth rate of the entire industry has slowed down, and according to the statistics of the National Bureau of Statistics, the growth rate of retail sales of shoes and clothing slowed down in 2016. Fuguiniao also explained in the 2015 financial report that the footwear and apparel industry is still in the bottoming stage due to the impact of macroeconomic prosperity and the development cycle of the footwear and apparel industry itself. On the other hand, just like Lin Heping's impression of "bright mind".In the context of the downward trend of the main business, Fuguiniao began other explorations.

Chief among them are microfinance P2P companies in the financial sector.

Someone revealed that behind the fall of famous brands like Fuguiniao, Delhui, and XidelongAn indisputable fact: blind expansion. At present, the adjustment of the entire footwear and apparel industry has not yet ended, and the industry reshuffle is still continuing.

I think the main reason is that many business opportunities are missed because of the lack of management skills.

It's not that you won't go bankrupt because there are a lot of people who like it, there are many reasons why a company goes bankrupt. Gaining a lot of people's affection, just because the brand is doing well, the reason for the bankruptcy is unknown.

Because their own strength was not strong enough, and their team may not run well, they ended up going bankrupt.

None of my friends around me know about this card, I don't know if many people like it, and if it is a brand that everyone knows, it will definitely not go bankrupt.

Maybe there are too few people who like it, or the production cost is too high, and the team can't operate well, and they can't survive.

It shows that although the quality of its products is good, it has not reached the diversification of products, and few people have bought leather shoes now, and Fuguiniao has not launched new product horns.

Known as the king of leather shoes in China, the "Rich Bird" comes from Shishi, Fujian. Positioning the low-end market and becoming the "county men's shoe handle". It is a pity that the former "shoe king" has come to this point.

On August 12, "Fuguiniao" disclosed the latest news that the last listing date of the company's shares will be August 23, and the listing status of the shares will be canceled at 9:00 a.m. on August 26. The company also said it is now seeking legal advice and may submit the decision to the Listing Review Committee for further final review, at which time further advertisements will be published.

Fuguiniao has been suspended since September 1, 2016, and has been suspended for half of the six years since its listing.

Once a generation of shoe kings, the former "rich bird" once won the title of "China's leather shoe king". In 2013, it was successfully listed in Hong Kong, the company had nearly 10,000 employees during its peak, and in 2018, the workshop was suspended, the loss of employees was serious, the inventory reached more than 300 million, and the debt of 4.2 billion yuan was standardized.

In the glorious past, starting from 40,000 yuan to be listed on the main board of Hong Kong, "Fuguiniao" and "Belle'，"Daphne"The four brothers Lin Heping founded "Fuguiniao" in the 80s of the last century, and began to develop and grow in the 90s.

At that time, Lin Heping took only 40,000 yuan and participated in the Shishi Tourist Souvenir Factory with 19 brothers, which is the predecessor of Fuguiniao Group. Because it is the first time to start a business, it is inevitable that there is a lack of management and operation, the labor is not clear, and each has its own ideas, resulting in the efficiency of the factory has not been able to go up. After persevering in the bumps and bumps for 5 years, many people are not optimistic about the prospects of the factory, and many people withdraw their shares.

Lin Heping learned from the pain, changed his strategy, re-produced footwear products, and registered the trademark of "Fuguiniao".

The result was an instant hit, selling 100,000 pairs of casual shoes that year, equivalent to ten times the plan, after the rise of Fuguiniao, in 31 provinces and cities across the country with a store department, after that, in 2013, Fuguiniao was listed on the main board of Hong Kong, but in 2014, Fuguiniao's performance declined, and from September 1, 2016 on September 1, 2016 on September 1, the company also had infighting, the company's founder died. Later, in order to recover, the company began to diversify and transform, investing in mining P2P companies and financial real estate mining, all of which failed, and then the company completely collapsed, and there was a beginning scene.

Now is the era of the Internet, and if you don't innovate, it can be easily replaced by the Internet.

The Rich Bird is really slowly moving from the position of the evil king to decay step by step, because their quality is really poor.

Due to problems with the business philosophy, Fuguiniao has a strong to weak and gradually depressed.

Perhaps it was because of the short-lived success that they slacked off on management, and they didn't know how to improve product quality.

Vicious circle, poor product quality leads to poor sales, and poor sales lead to cost savings.

Maybe it's because his products haven't kept up with the pace of young people.

Since 2015, Fuguiniao has vigorously developed its financial business and eventually became heavily in debt.

If the product can't be liked by consumers, no one will buy it.

It is because of his own poor management that he is declining step by step.

Like the more famous leather shoe brands in China, there are also Aokang, Red Dragonfly and Ilkang。These are very well-known leather shoe brands in China, and have a production history of more than ten or even twenty yearsIt can be said that it is a very good quality and ** leather shoe brand.

In today's society, choosing a good pair of leather shoes is the standard for a mature man. A man can be handsome or have no money, but he must have a good pair of leather shoes. Because that can bring out your personal temperament, it can be said that people rely on clothes and horses rely on saddles, and the most important thing for men is shoes, and everyone must have at least one pair of leather shoes in their wardrobe.

In China, the production of modern leather shoes has only a history of more than 120 years, but because the shape, style, structure and wearing function of leather shoes are superior to other footwear, the production of leather shoes has developed rapidly. Nowadays, leather shoes have become one of people's favorite footwear and one of the bulk commodities that beautify people's lives. High-end occasions must be inseparable from leather shoes

For example, Aokang, Red Dragonfly, and Ilcon are all very well-known brands in China. Especially their styles as well as **,And they have a lot of dealers all over the country, which can be very easy to buy. Of course, you can also get it available online.

And their quality and three-pack service are very in place. Not only that, they have a wide range of men's and women's leather shoes, but they also produce not only leather shoes, but also sports shoes.

Recently, however, the bankruptcy of the rich bird. It also indicates that the road of Chinese leather shoe brands in the future is very difficult. Because in the development of today's era of globalization, many international brand leather shoe manufacturers have entered the field of vision of the Chinese people.

Their very avant-garde design and very particular workmanship have been recognized by the Chinese people. Therefore, it also indicates that China's leather shoe industry will face cruel competition in the future.

Red dragonfly is also a good brand, and I personally think that the main thing made in China now is to look at **, and many of them are not very expensive.

Personally, I can't think of a good leather shoe brand, most of them are good foreign brands.

I think that now domestic products are gradually rising, must be foreign goods, the market of domestic products is larger, and more can be liked by Chinese, as long as the quality of goods is not a problem, you will be able to get huge benefits.

I know the Red Dragonfly, and I have one near my house, or Spider King, and it feels good. Domestic products are getting better and better now, and I now support domestic products.

The hottest leather shoe brand in China should be Red Dragonfly, which can be said to be a really old brand, and it must be able to do business and be honest.

The more well-known ones are red dragonflies, and the others are more foreign brands, and the domestic part still needs to be strengthened.