Securities Companies: Give Textile And Garment Industry "Optimistic" Rating
east
Negotiable securities
Textile recently released
clothing
H&M, headquartered in Sweden, is one of the world's most heavyweight brand apparel businesses.
H&M was founded in 1947. "First-class design, second class fabric, three price" is the consumer parity of H&M.
fashion
Understanding.
By the end of 2010, the company had more than 2200 stores in 38 countries. Its operating income in 2010 was more than 100 billion yuan, and its total market value exceeded RMB 300 billion yuan. It is the largest company in Stockholm stock exchange.
Orient Securities believes that from a global perspective, the public
Casual clothes
It is the costumes sub industry with the largest market capacity and the longest sustainable growth period. The most easily generated giant companies in this field are ZARA, H&M and UNIQLO, which are 100 billion levels of sales scale. The market capitalization of excellent companies also has huge capacity, for example, H&M has a total market capitalization of more than 300 billion RMB.
We believe that in the near future, we will learn from international peers and take full account of China's local businesses.
consumption
On the basis of characteristics, there will be hundreds of billions of brand clothing enterprises in China.
At present, according to the situation of domestic apparel listed companies, the companies closely related to H&M in the industry attribute are mainly American Apparel, Semir clothing and search special.
Maintain the "buy" rating of American Apparel.
Concerned about Semir clothing (not rating) below the issue price of investment opportunities.
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