Compared with other brands, Tebu, a well-known local sports brand, obviously has a first mover advantage
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At that time, local brands developed rapidly in the early stage with the help of regional and price advantages, but they could not form core competitiveness due to insufficient technology accumulation, vague positioning and insufficient brand information
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Especially after 2010, the market fell into the dilemma of “oversupply”, and the industry entered the cycle of destocking
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Dong Guojian, a young player from China, has attracted much attention
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01 industry is good, brand is collective After 2014, China’s sports consumer market has shown a rapid upward trend in both scale and growth
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Tebu found the market trend earlier than the industry, but it was not until 2014 that the company strengthened its misplaced competitive advantage with the “three-year reform strategy”
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From December 2018 to November 2019, Tebu’s running shoes sales in Taoxi channel accounted for more than 35%, higher than other domestic sports shoes and clothing leaders
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From 2007, Tebu began to lay out the running field
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According to the “2017 Internet sports consumption report”, nearly 1 / 4 of consumers pay more attention to improving sports professionalism and tend to buy professional equipment and footwear products
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On the morning of September 29, 2019, the streets of Berlin were packed with people, and tens of millions of people witnessed a world-class marathon participated by tens of thousands of people
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For local brands, the only way out for enterprises is to realize redemption through reform
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And technology has become the core element of building barriers for enterprises: through continuous accumulation, the final realization of the product feedback, enterprises thus form a positive cycle
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If technology is the foundation of competitiveness, then marketing is a powerful means to reshape consumer mind and expand brand influence
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It has become the most significant year-on-year growth in recent years
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In the Xiamen horse race on April 10 and 11, more than half of the runners who ran for three hours wore Tebu 160x running shoes, making them the brand with the highest wearing rate
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For Tebu, a local enterprise, stepping on the industry trend, reshaping its brand image and consumer cognition with “running experts”, giving the enterprise a brand new value core and outlining the imagination space for investors: since October 2020, Tebu International (HK: 01368) has risen by more than 50%
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Tebu has formed dislocation competition with the brand image of running experts, realized performance growth with multi brand operation, and superimposed the future expectation of moving closer to domestic substitution
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As a well-known local enterprise, Tebu bears the responsibility of breaking the monopoly of foreign brands and “Matthew effect”
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This year, Tebu held more than 430 running activities, established 8 running clubs, and sponsored 53 events nationwide
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According to the annual report of China Marathon 2018, 1581 marathons were held in China with 5.83 million participants
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He stepped on the special step to race at 160x and crossed the finish line in 2 hours, 08 minutes and 28 seconds, creating the best result in his personal history
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At the same time, foreign brands have entered China one after another to suppress local brands
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And Tebu also ushered in the highlight moment, which not only realized the sales miracle of 1.2 million pairs of single products, but also let the enterprise go out of Jinjiang, Fujian Province and radiate the national market
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Under the favorable situation of the industry, both international brands and local brands are aiming at this trend to launch functional products
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In the Xu Ma competition, Peng Jianhua, Yang Shaohui and Dong Guojian, the top three competitors, won excellent results for the special 160xpro and will go straight to the Olympic Games
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In 2019, Tebu running shoes ranked first among local brands in China’s marathon running shoes market share
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In 2015, Tebu launched a three-year reform strategy, with the core idea of “technology breakthrough and differential positioning”, focusing on more professional products and realizing the transformation from “fashion movement” to “sports fashion”
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Under the “secondary resonance” of technology and marketing, Tebu successfully broke the circle
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From Xiama to Xuma, Tebu has become the brand with the highest sense of existence
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At the same time, we will cooperate with international material suppliers such as 3M and Dow to jointly develop functional running shoes
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As night running and marathon become more and more popular, the consumer market has formed a new trend
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By analyzing the mode of foreign enterprises, we can find that the core logic of brand capturing people’s heart is “technicality + design sense + influence”
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The latest consumption data for April shows that on the Jingdong platform, the turnover of running shoes increased 152% month on month; The turnover of running pants increased by 135% month on month
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Through practice, reflection and learning, Tebu makes up for the shortcomings of design and technology on the basis of regional advantages and its own marketing advantages.
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This marketing strategy creates a precedent and becomes a classic case in Chinese business history
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In the past Xiamen horse race, more than 51% of the elite players who ran within 3 hours wore special step, higher than Nike (26%)
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The annual total output of Marathon industry is 74.6 billion, and the driving effect of related industries has been initially formed
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The plight of Tebu is actually the epitome of the industry
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Through 14 years of accumulation, Tebu has become the local brand that sponsors the most events: so far, it has sponsored more than 1000 marathon events
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In 2012, Tebu established the “special runner” and signed with American sprinter Gatlin in the same year
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But in the later development, Tebu’s brand image of mass sports was deeply rooted, which led to the solidification of consumption circle and limited the growth space
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Since 2007, Tebu has focused on running, and now it has become the local brand that sponsors the most marathon events
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The change of business strategy has brought the improvement of business data
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But this process has not been smooth
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03 reevaluate Tebu and move closer to domestic substitution Driven by technology and design, the voice of domestic brands is gradually rising, and foreign brands are no longer the only choice for Chinese consumers
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Projected to the business performance of the company, the company presents a trend of income diversification
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The turning point of valuation may have come
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In addition, among the top 9 players, Tebu 160xpro occupies 7 seats
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One of the subdivision trends is the formation of subdivision and specialized consumption trend Since 2014, the number of Marathon participants and events has increased year by year
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From the growth trend of R & D expenses and proportion, Tebu is moving closer to “technology casting competitiveness”
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In fiscal year 2018, Tebu’s revenue increased by 24.83% year on year to 6.383 billion, and its net profit increased by 60.86% year on year to 657 million
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The creation of historical moments is not accidental, but the result of painstaking efforts
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At the same time, product innovation can be realized through technology accumulation
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In 2019, Tebu launched the precision marketing strategy of “Chinese racing”
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In 2019, Tebu created the power nest pb-x technology, combined with the international trend of carbon plate, launched 160x racing shoes, sponsored professional marathon athletes, and won the recognition of the core user groups
With the rapid iteration of products and the continuous manufacture of popular products, the brand popularity and loyalty continue to maintain under the promotion of marketing
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From popular brand to running expert In 2001, the poster of Nicholas Tse stepping on special shoes was posted at the door of shops in Fujian, which became the common memory of a generation
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The logic supporting this conclusion lies in: the focus of corporate strategy under the trend of consumer market
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For a long time, it is difficult for enterprises to break through the bottleneck
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With the increase of consumer groups in the field of segmentation, there is a new demand for professional products
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Zhaoyin international, the seller’s organization, believes that the valuation of Tebu still has room for improvement
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In 2018, Tebu created a world-class running science laboratory, X-lab, with more than 40 international scientists and engineers
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