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In the half-concealed adult products industry, mentioning "Uncle Chun" Lin Degang can be described as a veteran figure. . In 2002, Lin Degang founded Chunshuitang. From the beginning, he aimed at the e-commerce market that was not yet mature at the time. From the time point of view, it was even earlier than Taobao. Later, it became an offline franchise chain store. After failure, the focus was again on e-commerce. . After several ups and downs, I have seen too many stories. Uncle Chun once wrote a best-selling book "The Beauty of Adults" from the experience of opening a sex shop. He is also a contributor to many well-known fashion media for both sexes. However, the original intention remains unchanged in the end: Attention to the three aspects of "people, health and desire". Nowadays, after several trials and hardships, Changzhou Chunshuitang Health Technology Co., Ltd. (Chunshuitang for short, stock code: 839466) finally ushered in the New OTC listing.
Today, Xiaowen has an exclusive interview with Chun Shu Lin Degang, to explain to you how this company, which has been deeply involved in the industry for 14 years, has received ten fund investments but has lost nearly 10 million yuan a year, and how will it get out of the industry-wide decline in the sex market.
14 years of industry accumulation, nearly 10 million R&D investment
In 2002, e-commerce began to sprout, and Lin Degang, who has been working hard in the Internet field, predicted that with the growth of the post-80s, the concept will be more open and adult products will become a promising future. The market, and its private nature, makes people more willing to buy online. Therefore, he established Chunshuitang and quickly completed the original accumulation in 2003. But after all, the entire industry was still in a gray area at the time, and it was often negatively reported by the media. In 2004, adult product e-commerce companies quickly exceeded 10,000 from a few hundred. The price war between each other put the entire industry in a dilemma, which also made Lin Degang in 04 , In 2005, the business of Chunshuitang was suspended and tried other options.
However, the career dream in his heart has never gone far. In the second half of 2005, Lin Degang discovered the concept of "sex toys", especially a British sex toys company called Annsummers, which relies on online shopping and 150 physical stores, with annual sales. Surpassed 1 billion yuan, becoming one of the famous British companies.
So Lin De just returned to Chunshuitang and started the business of franchising physical stores. But this road was not smooth. With the increase in franchise stores, various management problems began to emerge, such as store training, product quality control of each store, marketing, procurement, service, etc. They are also unable to keep up completely. The consequences are not only unprofitable, but also invisible damage to the "Chunshuitang" brand.
So, around 2009, Lin De Congo retired the franchise stores and returned to e-commerce again. His "brilliant man breaking his wrist" courage and keen control of the market also made Chun Shui Tang finally catch up with the new wave of e-commerce development. .
However, the detours of the past ten years have not been in vain. Whether it is the accumulation of historical experience or the brand awareness in the industry, Uncle Chun said in a positive tone: We are the boss! The
transfer book also shows that compared with companies in the same industry, Chunshuitang currently ranks No. 2 in market share, No. 1 in competition, No. 1 in brand awareness, No. 1 in patent barrier advantage, and is the vertical ranked No. 1 in the industry. E-commerce platform and high-tech intelligent product research and development enterprises.
Yes, we can see that Chunshuitang is an enterprise that can be called a "high-tech intelligent product research and development type", because Chunshuitang has been leading the industry on the road of brand development. Uncle
said: “In most people’s perceptions, many sex products in the international market are designed and made in China, but what everyone does not know is that these products are not only made in China, but most of them are designed in China , The domestic R&D level is fully in line with international standards, and Chinese-designed and Chinese-made erotic products are mostly exported.”
Currently, Chunshuitang is equipped with a R&D team of nearly 30 people, with an annual investment of nearly 10 million, and adopts small but precise development. Strategy, launched more than 20 own brand products. He said: "Although the sex toys on the market are similar in category, for this type of product, safety and a good user experience are the most important, so it is Chunshuitang that guarantees the highest quality among similar products. The greatest advantage lies.”
Currently, the company has 5 utility model patents (of whichOne has obtained PCT patent protection); 21 European design patents; 4 software copyrights; the company has 81 domestic and foreign registered trademarks. Among them, ihole for men’s prostate health, iball series of main products for women’s postpartum pelvic floor muscle health, and Musketeer vibrators, etc. are all well received in the market.
Regardless of whether it is its own brand or an agency brand, Chunshuitang is also the country's first sex toy e-commerce brand with a one-year warranty. This move has undoubtedly increased user stickiness and consumption dependence.
NEEQ sex toy vendors have been losing money year after year. Chunshuitang is confident that it will achieve substantial profits in the future.
The traditional sex toy industry can basically maintain 30-50% gross profit from manufacturers dealing with brands, wholesalers, retailers and customers. Space, and the e-commerce channel conservatively predicts a gross profit of 50%.
It can be said that the traditional lucrative adult products market, once plugged in the wings of mobile Internet and smart equipment, coupled with the pursuit of consumer groups, should be able to quickly take off. However, in the past two years, sex e-commerce has been at a loss. .
In May of this year, the sex e-commerce company Daqu, which was registered on the New Third Board, lost 800,000 yuan, 2 million yuan and 8.8 million yuan in 2013, 2014 and 2015 (as of September) respectively. The health loss of
lovers is more serious. From 2013 to May 2015, they were in a state of loss. The data were -73,214,300 yuan, -29.7228 million yuan, and -11.3694 million yuan; the same was true for the newly listed spring water hall of
, in 2014. From January to June in 2015 and 2016, the company’s net profit was -11.2462 million yuan, -18.4853 million yuan, and -11.209 million yuan (unaudited).
However, regarding the performance loss, Uncle Chun said: This is nothing!
He said that, in fact, Chunshuitang’s losses were caused by the company’s early investment in R&D, promotion, team upgrades, etc., but this does not reflect the true situation of the company, because R&D itself generally has a 9-month lag In the early stage, not to mention promotion and team upgrades are necessary energy for the long-term development of an enterprise, so short-term profit and loss is not important. The early investment in building core competitiveness can prepare the company for long-term development and is ready to go. .
Indeed, the transfer book shows that from 2014 to 2015, Chunshuitang has performed or is performing promotion costs as high as 10.903 million yuan. In 2014, Chunshuitang's revenue was only 18.4853 million yuan, which shows that it has indeed lost its blood.
public information shows that from the beginning of the reporting period to the date the feedback report was issued, the company had 3 financings with a financing amount of 73 million yuan. Investors included 10 funds including Hangzhou Anzefu, Shenzhen and Shenghuiying. It can be seen that the capital market is generally optimistic about the development prospects of the sex industry.
Faced with Xiaowen’s doubts and concerns, Uncle Chun also gave an example of education to explain vividly. He said: “It’s like if you only want your child to go to elementary school, then the initial investment is naturally small, and the child goes to primary school. Work, parents can quickly get rewards. And if you want to train a college student, or even a graduate student, the time and energy invested in the early stage will inevitably increase greatly, and correspondingly, the final output and return will naturally not be comparable to the “primary students” "On the same day." Uncle Chun
said: "Chunshuitang invested a lot of money in research and development and branding in the early stage, the purpose is to achieve substantial profits in the future! I am also confident that this goal can be achieved!"
accelerates the layout of the reproductive health ecological strategy, According to data from Analysys think tank, the scale of B2C transactions of health products for both sexes in China reached 3.38 billion yuan, a growth rate of 60%. The rapid development of e-commerce platforms and increased awareness of sexual health will further increase the transaction scale of the B2C market for health products for both sexes. It is estimated to be 8.55 billion yuan in 2016 and 13.25 billion yuan in 2017.
Lin Degang said: “At present, the online and offline market of the domestic adult products industry is about 30 billion yuan. With the opening of people’s minds, the market is still accelerating, while the global market is as high as 800 billion yuan.”
So, how to lead The company's team grabbed a market of 100 billion yuan, and Uncle Chun also gave usA set of clear development ideas:
[Balancing the two sides of "sex", and the taste is normalized] Uncle Chun said: "Sex" is always a balance between two aspects. On the one hand, it is the privacy that needs to be protected, on the other hand, "Sex" itself is not ashamed, and it is not that it cannot be discussed. "
With the development of society, people are becoming more tolerant of gender issues. The more open-minded post-80s and post-90s have also begun to become the main consumers in the market. Therefore, Chunshuitang will continue to cooperate with fashion media to Sex toys and the topic of “gender” are incorporated into the way of fashionable life, and it is advocated that “gender” is a popular symbol and a kind of “sentiment” in life.
will also organize some seminars to improve the intimate relationship between the sexes. And publicity activities, while letting everyone accept the concept of "sex normalization", further enhance the brand awareness of Chunshuitang.
In addition, Chunshuitang also invested in the first love hotel by the West Lake in Hangzhou, covering an area of 9,000 square meters, with a design Chinese style, modern interior design, supporting sales of Chunshuitang sex toys and self-designed sex home furnishings, hoping to let couples staying in the hotel feel the "warm" service. The hotel is expected to be officially in the first quarter of 2017 Opened.
[ R&D and e-commerce are equally important, the sword refers to the global adult product market ] Uncle Chun said that in terms of research and development, the industry itself still has a lot to do. Therefore, with the successful listing on the New Third Board, Chunshuitang will continue Accelerate the pace of development, expand the research and development of independent brands, further improve the research and development and sales of smart comfort products and smart reproductive health products with independent intellectual property rights, complete the production chain of private brand smart medical devices and smart sex toys, and accelerate Landing a reproductive health ecological strategy. In the future, the dual model of e-commerce platform and independent research and development of its own brand will allow Chunshuitang to achieve faster revenue and profit growth through the combined sales channels of e-commerce retail, domestic distribution and foreign trade export.
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