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1、China Consumer & Retail Private Equity - 2010 & Beyond Consumer-Driven Investment Themes,May 2010,Presented by K.C. Yoon,Page 2,Jan 2010,Version 3.0 by KC Yoon,Presentation Background & Storyline,China Weathers Crisis Well -Emerging with Stronger Economic Foundations,Foreign & Domestic Funds Flow in
2、to Consumer Consumption Sectors,Key Consumer Trends and Potential Investment Themes,ONE: Domestic Brands Going Nation-wide,TWO: Internet Changing the Traditional Business,ONE: Strength in Domestic Consumption,TWO: Broad-based Drive for Domestic PE,THREE: Govt Focused on Fundamentals,FOUR: Competitiv
3、e Markets,Government taking Active Role to Promote Private Equity investments,Maturing PE Market,Global Trends Impacting China,Domestic Trends Impacting Consumption,THREE: Changing Lifestyle of Middle-class China,Page 3,Jan 2010,Version 3.0 by KC Yoon,China Weathers Crisis Well -Emerging with Strong
4、er Economic Foundations,Foreign & Domestic Funds Flow into Consumer Consumption Sectors,Key Consumer Trends and Potential Investment Themes,ONE: Domestic Brands Going Nation-wide,TWO: Internet Changing the Traditional Business,ONE: Strength in Domestic Consumption,TWO: Broad-based Drive for Domestic
5、 PE,THREE: Govt Focused on Fundamentals,FOUR: Competitive Markets,Government taking Active Role to Promote Private Equity investments,Maturing PE Market,Global Trends Impacting China,Domestic Trends Impacting Consumption,THREE: Changing Lifestyle of Middle-class China,Focus of Todays Presentation,Pa
6、ge 4,In 2009: Macro-Factors Driving Chinas Consumer Economy,3,Growth of Chinese Middle-Class,Urbanization and Growth of Cities,Growth and Impact of the Internet, 200 Cities with 1M residents,By2015, 300M lower-middle class; 100M luxury consumers,NOW 300M users;RMB 120B online consumer sales,Demand f
7、or home-related products and services,Demand for lifestyle & convenient services,Demand for better healthcare,Over 110 high-consumer potential cities with 34% of GDP,Most widespread media- access middle-class consumers,Growth of B2C,IKEA continue to open 2 stores/year,Sunning plans a B2C site,Korea
8、SK Telecom to invest RMB500M in qingxuan its B2C site,President 7-11 to open3-7 stores in Shanghai plans for 300 stores in 3yrs,China Chain Nepstar drugstar open/acquire 700 stores 2008, plans 3000,Letao to open largest online toy store in China,Sunning plans 500sqm stores in the rural areas targeti
9、ng 3000,Retailers continue to expand network,Page 5,In 2009: Key Consumer Trends with Investment Potential,+,1,Growth of Chinese Middle-Class,Urbanization and Growth of Cities,Growth and Impact of the Internet,Govt Stimulus,“City-Living” Consumer Services,Affordable Luxury for the Young Affluent,“Ma
10、ss Market” + “Good Enough” Products,Online Consumer Brands,“Knowledge” Services,“Health”+ “Well-being” Services,Large Market,Criteria for Investment - Luxury Brands Fit Criteria!,High Growth,Able to Sustain Good Margins,Defensible Niche,+“GREEN” - Increasingly important Global trend,3,Page 6,2010 &
11、Beyond: Same Core Drivers but with New Focal Points,Growth of Chinese Middle-Class,Urbanization and Growth of Cities,Growth and Impact of the Internet,Broader Consumer Base,2nd/3rd Tier Cities New Growth Areas,Mobile & Ecommerce Create Market,Population (millions) from 2007-2025 : 6 New Megacity Clu
12、sters,Online Shopping Growth 2007-2013 (RMB 00M),3,Source: McKinsey Global Institute CAC model, McKinsey Global Institute analysis,Source: iResearch report 2009,Page 7,Global Trend- Focus on Capturing “Emerging” Luxury Consumers,Shifting of Growth to “Emerging” Markets i.e. China,Increasing Trend of
13、 M&A of Luxury Brands,Cash-rich Chinese Companies Seeking Foreign Brands,Acquisition of “Volvo” by Chinese Automaker Geely,Global Luxury Players Seeking to Acquire Domestic Brands/Retailer,Interest in European Fashion Brands by Chinese parties,Foreign Brand Expand/Acquire Chinese operations,Increase
14、d Market-entry by Foreign High-end Consumer Brands,Fashion Brands Burberry & Mango Expands Aggressively,Proliferation of International Fashion & Lifestyle Brands,Page 8,Domestic Trend Rapid Rise in “Luxury” Consumers,Growth of Chinese “High Net Worth Individuals”,Values Associated with Luxury Drives
15、 Consumption,Chinese Luxury Needs Pervades through their Lifestyle (F&B, Clothes, Personal care, Living),By 2009 China will have over 320,000 HNWI with Total Assets of USD1 trillion; Across 1st to 3rd Tier Cities,Source: China Merchant Bank & Bain Report 2009,“In 2008, Chinese Domestic Luxury Market
16、 was valued at USD8.6 billion” Bain “China to overtake Japan as the worlds 2nd largest luxury market by 2010” China Herald 2009,Page 9,China Consumer/Retail Investment Themes for 2010 & Beyond,Domestic Consumer Brands & Retailers Going Nation-wide/Capturing Market Share to be Market Leaders,1,Products & Services Leveraging on Mobile+Internet to Overcome Traditional Business Model for Rapid Growth,2,New Needs Created by Changing Lifestyle of Middle-
