Wen shang first leather industry O2O model "bright bag" to repeat the "Vipshop" myth

At the end of may, guangzhou liangbao network technology co., an e-commerce company controlled by wen shang, quietly listed on the tianjin stock exchange.

It opened at an offer price of $8 per share, with more than 100,000 shares traded at $10.19. The company got off to a good start with a plan to raise 100 million yuan in financing for its leather e-commerce platform, bright bags, through equity trading platforms and other channels.

On that day, among the investors who bought shares, the temperature traders who knew them well were the main force. Xie lingna, chairman of liangbao network technology co., said it was the first time that the company had "told a story" to the capital market.

From traditional leather goods makers to e-commerce entrepreneurs who can picture the future in tens of billions of markets, it took just over four years for ms xie and others to change their roles. Occasionally, when investors question her record, she responds with the industry-standard peer story of her town (founder) and town (company) : "Vipshop is less than four years old from launch to launch."

High frequency transformation

In fact, Vipshop was a small player in the e-commerce industry when xie lingna and her partner hu yuandi started planning a company transformation.

It was around 2008, as the financial crisis hit, and the tamar leather goods they founded struggled with shrinking orders and struggling to collect cash.

"The export market is depressed, the domestic sales are difficult to collect money, and almost every payment is a bloody history of fighting with agents." Mr. Hu said that after a rethink of the traditional provincial agency model, the company decided to cut its meat to survive, calling all of its more than 200 terminal stores closed.

What should replace traditional marketing channels? After a number of high-level meetings, tema has set up a strategy for export, e-commerce and TV shopping.

"When I started to dabble in e-commerce, I was also hit by a big blow." Xie lingna recalled that at first, the company directly put the product on the Internet after shooting, but to her surprise, there were no professional artists, photography, advertising or even website editors. The images of the products sold on the Internet, especially the leather products, were completely different and could not arouse the interest of consumers.

After bringing in dozens of e-commerce teams, it was time for tamar to hit the net.

In the next two or three years, taima has cooperated with almost all major domestic e-commerce platforms: they are major customers of the production of mai bag; Many of its brands are leading in sales on Tmall, jd.com and other platforms. In vipshop, tamar also organized many promotions..

TV shopping, is to buy 1 get 2 free, go is medium low course, 298 yuan a set to sell 3 packets, after ceaseless grind, they realized the sale of 25,000 sets every month or so.

Even so, the founders felt a sense of entitlement, especially as the rapid rise of Vipshop in the same town was "exciting" for them.

In 2012, xie xiaoling, inspired by a Japanese apparel O2O platform enterprise, decided to launch a new round of transformation and build her own O2O e-commerce platform.

A few months before xie lingna decided to enter the O2O platform, a big event happened in shiling town, guangzhou, the leather capital of China where taima company is located. Her former collaborator and early e-commerce platform idol, "mai bag", completely quit the leather manufacturing base due to product quality problems and frequent return rates.

"The shiling and even guangzhou huadu district, with a manufacturing capacity of 62% of the world's luggage, has created a huge space for integration." It is also an impetus for her to press ahead with the O2O project, xie said.

Sales business model

The innovation of offline promotion and experience mode is the highlight of the O2O mode.

The bright bag platform is set to open an offline experience store in every city in the country, xie said. The store only needs about 9 square meters of space, including an O2O machine that can be operated on a touch screen and connected to mobile phones, and dozens of samples of luggage and bags.

"" agents can sell bags directly through experiential stores, but that's not their main business, and their biggest responsibility is to promote the website to every customer who enters the store." " The resellers of the bright bags each have a qr code, the equivalent of a membership card, with a discount on the website shopping, she said. After the agent presents the "membership card", every expenditure incurred by the membership card in any place can be counted into the performance of the agent, so that the agent can get a certain share.

In addition to the store experience, brightbag company is also preparing to push the O2O machine to places where the potential consumption of various boxes and bags, such as hairdressing and hairdressing, clubhouse, shoe and clothing store, will become a store in the store, which will become another kind of agent for brightbag.

"" with such a placement, we can push the network across the country at a lower cost in a very short time." " According to xie, at present, the O2O machine of bright bag has been developed and put into use, and just last month, its two offline experience stores in guangzhou have opened.

"" we hope to use the 100 million yuan raised to conduct preliminary layout in the national market." " She said.

Rapid landing on the day of the exchange for financing, to some extent can confirm the "urgent" xie lingna and others.

In common cases of e-commerce entrepreneurship, entrepreneurs generally experience the process of independently promoting projects to a certain degree -- introducing venture capital -- through several rounds of financing and then being assisted by venture capital to promote the securities capital market. But xie lingna and others went directly to the stock exchange. "" the O2O business model that we pioneered in the industry has been basically mature and initially launched." " In e-commerce, she told reporters, projects can't wait, and when ideas are relatively mature, they need to be done with great fanfare, because no one can predict what will happen in a year or two.

After completing the initial placement, she said, the "bright bag" will still choose to introduce venture capital and eventually go public.

Thank you to Vipshop

Unlike a few years ago when they first entered the e-commerce industry, xie lingna and others felt completely different in this round of transformation with e-commerce as the main industry.

"More partners are familiar with the e-commerce business. Before we could introduce the project, many wenzhou villagers interrupted and said," I understand your model and there is a lot of space." She analyzed that she had seen the demonstration effect of Vipshop, and had dealt with Vipshop generally. In the leather goods and luggage industry, wen shang became very proficient in e-commerce.

According to hu, so far, dozens of leather brands have reached cooperation agreements with bright bags, of which a considerable number are wenshang enterprises.

Among investors, there are many more who use Vipshop when asking questions. As a result, xie lingna once in a while made fun of the scene, saying, "it's really impossible to compare our fame now, but what will happen in a few years' time?