An enterprise engaged in consumer finance switched to a luxury cross-border e-commerce company. From a market value of 10 billion U.S. dollars to a market value of less than 500 million U.S. dollars, the fun shop on the edge of delisting has begun a "fancy" transformation.
This time, it is the "luxury e-commerce" that has launched a shopping platform called "Wan Limu" with a huge subsidy of tens of billions, which has attracted a group of "wool parties" in a short time.
Will Wanlimu’s new project, Wanlimu, a 10 billion subsidy program, burn a future?
First of all, Wanlimu followed Pinduoduo’s tens of billions of subsidies. Although it was a bold attempt to "blood", the volume of the Qudian is not Support tens of billions of subsidies. According to the financial report data, the annual net profit of Qudian in the past three years was 2.16 billion yuan, 2.491 billion yuan, and 3.352 billion yuan. The tens of billions of subsidies have exceeded the total profit since the listing of Qudian.
According to the latest financial report of Qudian, net profit in the fourth quarter of 2019 decreased by 85% from the previous quarter. And Wanlimu claims to be self-operated on the whole site, and the products are all luxury goods with a high unit price. This requires huge financial support, and it is also not a small expense to support tens of billions of subsidies. Therefore, it may be necessary to draw a question mark as to whether Wanlimu has sufficient capital reserves to maintain the operation of the platform and tens of billions of subsidies. Secondly, luxury e-commerce has always been a "hard bone". Even NetEase Koala, who has been struggling to survive in the industry for 5 years, finally sold himself to Alibaba.
After Qudian entered the game with Wanlimu, it faced players like Ali, JD.com, and Secoo. No matter whether it was financial strength, supply chain capability, or user trust, Wanlimu had no obvious advantages.
In addition, the threshold for cooperation in the luxury goods industry is extremely high, and brand owners have extremely high requirements on the online environment. Low-price promotions and full discounts are not in line with the positioning of luxury goods; and from the consumption habits of the main luxury consumers, luxury goods There are very few factors driving social purchases, and the frequency of purchases and repurchase rates are very low. It is still very difficult for Wanlimu to achieve user retention and conversion. #趣店#
The source of true and false goods has become the biggest "Rashomon" about Ten Thousand Miles, and the gate of cross-border e-commerce.
Before founding Qudian, Luo Min had already started his own business eight times. Since the founding of Qudian, Luo Min has started his own business no less than ten times.
This is Luo Min's style: quick start, quick trial and error, and quick end. Dabai Automobile is a living case: In January 2018, Luo Min, who has no experience in the automotive field, announced the launch of the auto finance business "Dabai Automobile" under Qudian. In 2019, Qudian reported in the first quarter earnings report. Said that the overall contraction of Dabai Automobile business.