Hui Rui Capital invested Bosideng in 2006. Bosideng’s gross margin was 38%. In 2011, Bosideng’s gross profit was 47%. During this period, prices of raw materials for down apparel soared, store rental, and human capital increased year by year. Shen Jingwu pointed out that if Bosideng does not choose to make a transition, it is feared that its price increase will not run out of cost.
Shen Jingwu's eight-year PE career can be condensed into three key words: HSBC Direct Investment, Bosideng, and Yonghui Supermarket. He joined HSBC Direct Investment in 2005 and invested in Bosideng after a year and a half. Later he was promoted to Greater China. In 2007, he led the investment in Yonghui Supermarket. This project devoted most of his efforts to those who knew him well and knew to chat with him. At the time, the word "Yonghui" appeared very high.
At the end of 2010, HSBC made a direct investment from HSBC and changed its name to Huirui Capital. At the end of April 2012, Hui Rui Capital received the 2011 Best Investment After Service Team Award from the China Investment Group, and Shen Jingwu returned to Shanghai, where he was born.
Bosideng from Functional to Stylish Promoters
In 2005, when Bosideng chose private equity funds, it was a big show in the PE industry. According to the data at the time of listing, its sales and profits in fiscal year 2005 (2005.4-2006.3) were about 3.7 billion yuan and 500 million yuan respectively. In 2006, it and its sub-brands had a market share of 40% in down apparel.
At that time, Hui Rui Capital did not do any major projects in Mainland China. Shen Jingwu left Shanghai to live in Hong Kong when he was 10 years old. He is not considered to be a "door-cleaning" person in the Mainland. But in the end, Bosideng Chairman Gao Dekang chose him and Hui Rui. In this regard, Shen Jingwu explained: "At that time, as long as you are sincere, entrepreneurs think you can cooperate, you have some knowledge of the capital market, it may be enough."
When Shen Jingwu and Gao Dekang talked about cooperation, they hardly touched on business operations. Strong as Gao Dekang, where there is a need for an outsider to come up with ideas on how to do a good job, he only needs Huirui Capital to assist companies in listing.
At that time, Shen Jingwu was not in a hurry to “put in after-serviceâ€. At this time, he realized that the scale of Hui Rui Capital's investment projects was generally more than US$50 million. The companies that met the requirements were not short of money or needed money but had no other choice. In other words, these companies do not seek private equity investment and the two parties are very much in the same relationship.
Shen Jingwu assisted Bosideng in its listing. At the same time, after repeated investigations and suggestions, Bosideng’s market share is so high that the best way for the company to grow further is to transform from functional down jackets to fashionable down jackets, which can provide more for Bosideng. Young customers are favored and prices have more room to increase.
This idea followed Gao Dekang. Bosideng went public in October 2007, and this transition was put on the agenda. From the slogan, they gave up the “Sinotech nano anti-caries and oil protectionâ€, and the designers team joined various fresh blood. The clerk who sold the down jacket in the last line was replaced by young people.
Hui Rui Capital invested Bosideng in 2006. Bosideng’s gross margin was 38%. In 2011, Bosideng’s gross profit was 47%. During this period, prices of raw materials for down apparel soared, store rental, and human capital increased year by year. Shen Jingwu pointed out that if Bosideng does not choose to make a transition, it is feared that its price increase will not run out of cost.
At the end of 2010, HSBC made a direct investment from HSBC and changed its name to Huirui Capital. At the end of April 2012, Hui Rui Capital received the 2011 Best Investment After Service Team Award from the China Investment Group, and Shen Jingwu returned to Shanghai, where he was born.
Bosideng from Functional to Stylish Promoters
In 2005, when Bosideng chose private equity funds, it was a big show in the PE industry. According to the data at the time of listing, its sales and profits in fiscal year 2005 (2005.4-2006.3) were about 3.7 billion yuan and 500 million yuan respectively. In 2006, it and its sub-brands had a market share of 40% in down apparel.
At that time, Hui Rui Capital did not do any major projects in Mainland China. Shen Jingwu left Shanghai to live in Hong Kong when he was 10 years old. He is not considered to be a "door-cleaning" person in the Mainland. But in the end, Bosideng Chairman Gao Dekang chose him and Hui Rui. In this regard, Shen Jingwu explained: "At that time, as long as you are sincere, entrepreneurs think you can cooperate, you have some knowledge of the capital market, it may be enough."
When Shen Jingwu and Gao Dekang talked about cooperation, they hardly touched on business operations. Strong as Gao Dekang, where there is a need for an outsider to come up with ideas on how to do a good job, he only needs Huirui Capital to assist companies in listing.
At that time, Shen Jingwu was not in a hurry to “put in after-serviceâ€. At this time, he realized that the scale of Hui Rui Capital's investment projects was generally more than US$50 million. The companies that met the requirements were not short of money or needed money but had no other choice. In other words, these companies do not seek private equity investment and the two parties are very much in the same relationship.
Shen Jingwu assisted Bosideng in its listing. At the same time, after repeated investigations and suggestions, Bosideng’s market share is so high that the best way for the company to grow further is to transform from functional down jackets to fashionable down jackets, which can provide more for Bosideng. Young customers are favored and prices have more room to increase.
This idea followed Gao Dekang. Bosideng went public in October 2007, and this transition was put on the agenda. From the slogan, they gave up the “Sinotech nano anti-caries and oil protectionâ€, and the designers team joined various fresh blood. The clerk who sold the down jacket in the last line was replaced by young people.
Hui Rui Capital invested Bosideng in 2006. Bosideng’s gross margin was 38%. In 2011, Bosideng’s gross profit was 47%. During this period, prices of raw materials for down apparel soared, store rental, and human capital increased year by year. Shen Jingwu pointed out that if Bosideng does not choose to make a transition, it is feared that its price increase will not run out of cost.
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