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Market Analysis: Don'T Blindly Fashion The Brand To The End.

2019/9/23 22:43:00 3

Apparel IndustryLiningLa Natsu Bell

In 2019, for China's apparel industry, it is still a year of opportunities and challenges. According to the National Bureau of statistics, the growth rate of clothing retail sales in China has slowed down year by year. In the first half of this year, clothing retail sales reached 474 billion 970 million yuan, and the overall market still had a downward trend. With the change of consumption to a more diversified and personalized direction, whether garment enterprises can quickly respond to market demand has become the key to "survive". Many enterprises in the industry have begun to transform.

History needs accumulation, and the industry can not fail to summarize. This is also true for clothing brands. In the first half of 2019, how did the domestic clothing brand market perform? The winning business network exclusive plan "clothing brand positive and negative" series of reports, through the earnings report, from the positive and negative dimensions, summarize and reflect the top 10 domestic clothing brands. This will witness the transformation of the local clothing brand and reflect on its future.


Lining regained land lost by "fashion", but lacked product R & D power.

Lining's "transcript" in the first half of 2019:

As of the first half of June 30th, the sales of domestic sportswear brand Lining increased 33% to 6 billion 250 million yuan over the same period last year.

Gross profit margin increased by one percentage point to 49.7%, and net profit rose 196% to 795 million yuan.

Cash flow increased by 107% to 1 billion 366 million yuan.

Lining's stock price has increased by 131.65% since the beginning of this year, and its market value is nearly three times that of the same period last year.

What are the breakthroughs?

Fashion has become Lining's "weapon" to recapture the past.

Frequent appearance of International Fashion Week: in February last year, Lining first came to New York fashion week. As a result, Lining began to use the international fashion Monday road to open up the situation, frequent Paris men's clothing week, New York fashion week, the fashion of the country to refresh the impression of the outside world on Lining.

Launched the middle and high-end product line: in March this year, Lining first put forward the concept of Lining fashion line, and made clear the positioning of the product line targeting the high-end market with sports fashion style.

Constantly optimize channel structure and supply chain

Online and offline: Lining's main channels include efficient shops, China Lining and Chao Dian, professional sports shops and clearance channels. And the group transferred some of the original stores to dealers, and agreed to open large stores and fashion stores, so that the income of franchisers was recorded in the middle section of 40%. In addition, the mid term financial report shows that the growth rate of e-commerce channel revenue has recorded a 30% high growth, and the electricity supplier has become one of the fastest growing channels for Lining.

Open the "self built factory" mode: add the fashion line, and brand challenges the efficiency of design and supply chain. This year, the supply base of Guangxi invested by Lining group was officially launched, opening the "self built factory" mode, providing footwear self-produced, and the brand also began to build factories and self built small version rooms, and can make samples and projects in small quantities.

   What are the problems?

Lack of core competitiveness of technological R & D: Lining's "fashion heart" is known to all. However, on the long term plan, Lining needs continuous innovation of products and launches explosive market to detonate the market. Whether it is "professional" or "fashion", technology development is the core competitiveness of sports brands, which puts forward higher requirements for the design ability of Lining brand.

But at present, Lining's spending on R & D is very low, and R & D expenses account for 2% of the total revenue. The investment in Anta has remained above 5% in recent years, and Nike has reached 9%.

Market size is limited by many aspects: first, Lining's high-end fashion strategy has gradually affected the brand's channel strategy, with a second tier city as the main battlefield, but the high rent of the second tier cities limits its expansion speed.

Secondly, apart from Lining's main brand, Lining maintained a relatively prudent development strategy for the acquisition of the international brand, while the brand Danskin, Lotto Lotto and Aigle AI, which had already been acquired, did not exert too much effort and expansion.

Finally, many brands of sports fashion brands have grasped the market segments, but the more market segments, the easier it is to get saturated. Lining also constantly stressed to the outside world that tide brand is not the direction of Lining, and fashion line is only part of the business. It can be seen that Lining has realized that before the end of the fashion and younger trend, the long-term layout will be made ahead of schedule. How to find that precise point between "professional" and "fashion" is an absolute technological activity.


La Natsu Bell lost 498 million in the first half and more than 2400 stores.

La Natsu Bell's "transcript" in the first half of 2019:

La Natsu Bell's revenue declined in the first half of the year and expanded to 498 million.

Revenue was 3 billion 951 million yuan, down 1 billion 190 million yuan from 5 billion 141 million yuan a year, down 23.16% from the same period last year.

Net profit attributable to shareholders of listed companies is -4.98 billion yuan.

What are the breakthroughs?

To work with many IP to attract young audiences: to promote the brand vitality to consumers, La Natsu Bell actively promoted IP cooperation, respectively, with fashion illustrators, street graffiti artists, literary writers, dance studios and famous IP. They launched Puella x MARK WIGAN, 7 Modifier Keith Keith Haring, 7 Modifier x Anthony, 7 Modifier Korea Korea dance studio, 7 x china dance studio and * * * cross border cooperation, attracting young consumers with new elements.

The effectiveness of member marketing was remarkable: by the end of June 2019, the total number of effective members of La Natsu Bell was over 11 million. In the first half, the number of newly recruited members exceeded the total recruitment in 2018, and the proportion of member sales accounted for over 40% of total sales, representing an increase of over 30% over the same period last year.

What are the problems?

In the past few years is still crazy expansion, now La Natsu Bell began to shrink wildly. By the end of June 2019, there were 6799 retail outlets in La Natsu Bell and 2470 stores.

Domestic apparel retail market continued to slump, gross margin fell.

La Natsu Bell stores reduced passenger traffic and sales fell sharply. Affected by multiple factors, La Natsu Bell's main women's clothing brands La Chapelle, Puella, 7 Modifier and La Babit were down more than 20% year-on-year.

The actual effect of the adjustment of the company's business transformation and the reduction of capital and efficiency still needs time to reflect.

The external financing environment is changing, and the company is facing the risk of the equity pledge burst. Moreover, the company's continuous repayment of bank loans has a negative impact on the order and the new products.


It has high fashion, high performance and high distribution channel.

In the first half of 2019, "report card":

The group achieved double growth in revenue and net profit in the first half of the year.

Operating income was 1 billion 111 million yuan, an increase of 14.42% over the same period last year.

Net profit attributable to shareholders of listed companies increased by 1.09 percentage points to 339 million yuan.

   What are the breakthroughs?

The value proposition is clear, dig deep into its own brand style: Di Su fashion and Disney cooperate with the brand IP, launched the series of products of "flying elephant" and "Seven Dwarfs"; signed the Japanese young idol Kimura Hikaruki as the spokesperson for the brand of DIAMOND DAZZLE; also commissioned the famous Japanese designer, Shan Shan Tong, to design a brand-new image of the brand stores. At present, the new image of RAZZLE and DAZZLE stores has been launched. It is expected that the new image of DIAMOND DAZZLE and d 'zzit shop will be launched in the second half of this year.

To enhance retail capacity and store effectiveness: in the first half of the year, di Su continued to promote retail 3C training, and implemented the "mysterious visitor" project to improve store and shopping guide's retail capabilities. In the second half of 2018, the new shopping guide salary scheme also mobilized the enthusiasm of shopping guide, formed a good competition scope, and promoted the improvement of store efficiency.

  What are the problems?

The proportion of direct sales and distribution is not balanced: the distribution mode of Di Su fashion has been a large proportion. As of June 30, 2019, its distribution terminal reached 688, and it was nearly 2 times that of 362 stores directly operated. During the period, the distribution mode accounted for about 40% of the total revenue. However, because dealers' management is independent of local fashion, their daily operation may have a great difference with the local fashion in terms of product concepts and operating standards, which will adversely affect the brand image and sustainable development of Di Su fashion.

Inventory control is inadequate: from the inventory control point of view, the fashion season has not been improved. From 258 million yuan at the end of 2018 to 280 million yuan in the period, the proportion of stocks in assets increased further, from 7.2% to 8.4%.


Mei Bang clothing: the first half of the profit from the loss of 138 million, into a predicament.

Smith Barney's first half of 2019 "transcript":

Last year, the United States made a loss and suffered a serious loss. During the period,

Smith Barney's apparel revenue reached 2 billion 699 million yuan, down 31.47% from the same period last year.

Net profit attributable to shareholders of listed companies is about -1.38 billion yuan, down 359.61% compared to the same period last year.

As of June 30, 2019, the total assets of Smith Barney's clothing were about 6 billion 679 million yuan, and the net assets attributable to shareholders of listed companies were 2 billion 736 million yuan.

  What are the breakthroughs?

Change the past single leisure wind: Metersbonwe changed the past single leisure style into five styles: NEWear, MTEE, ASELF, N vachic, HYSTYL. Thanks to the continuous upgrading of the competitiveness of the five major brand products, the United States and the United States apparel sales in 2018 achieved comparable sales growth of about 7%.

Adopt a strategy of sound management: Aiming at the risk of seasonal fluctuations in the performance of apparel industry, the United States and costumes reduce the risk of operation by adopting deep fund mining, selecting the best selling styles, and effectively reducing the costumes.

The strategy of "shopping center + traditional business circle" parallel development is implemented: the American Bon apparel can optimize the terminal store structure through this strategy, and vigorously develop franchising channels, and close some direct and inefficient stores. With the strategic adjustment of the company's channel upgrading, the expansion effect of franchising channels showed that the number of franchising revenue in the first quarter of 2019 increased by two digits.

  What are the problems?

Facing the pressure of "excessive inventory": from 2015 onwards, the inventory of American bond clothing increased year by year, reaching 2 billion 565 million yuan as of the end of 2017, although the inventory in 2018 decreased by 8.42% to 2 billion 349 million yuan, but the proportion of inventory accounts for total assets is still as high as 32.58%. It is the first place in seven peers of Hai Lan home, Semir, La Natsu Bell, Taiping bird, seven wolves, news bird and wgnnasse, and the turnover days are 208 days.

The profit situation has been in the "roller coaster" state: the data show that the net profit of Smith Barney apparel from 2014 to 2018 is 146 million yuan, -4.32 billion yuan, 36 million 158 thousand and 600 yuan, -3.05 billion yuan, and 40 million 361 thousand and 600 yuan respectively, and the operating profit is 178 million yuan, -1.51 billion yuan, 156 million yuan, -3.06 billion yuan and 55 million yuan respectively. The net loss in the first half of 2019 amounted to 138 million yuan. It can be seen that since its first loss in 2015, its net profit and operating profit have been in the "roller coaster" state.


Taiping bird national fashion "pacesetter", but was joined, high inventory dragged behind.

The first report of Pacific bird in the first half of 2019:

In the first half of 2019, revenue and net profit declined. This is also the first time since the first quarter of 2019, the second consecutive quarters of revenue and net profit fell.

During the period, revenue was 3 billion 120 million yuan, down 1.54 percentage points over the same period.

Net profit attributable to shareholders of listed companies was 132 million yuan, down 33.06% compared to the same period last year.

As of June 30, 2019, the number of stores under Taiping bird line was 4427, a decrease of 167 compared with the same period last year.

What are the breakthroughs?

Emphasize fashion, transform from product, channel and marketing in all directions.

Product development: focus on youth culture, launch the brand advocacy of "Taiping youth", focus on building cross border joint product R & D capability, and use cross-border brand to enhance the freshness and topic of commodity design.

Brand building: courageous "going out" has become one of the first domestic brands to debut in New York fashion week China Japan. It pioneered the "Bird Man Music Festival" and exported bird culture in the pan entertainment era.

Brand marketing: leveraging the crossover, joint with Phoenix bike, Godzilla, Disney, Coca-Cola and other super IP; and the use of Prada, Dior, Tiffany and other brands have been photographed flat Westling Natalie, shooting Saint Laurent and Burberry advertising film Ruth Bell and other young and high quality promotional line-up;

Expand channels: vigorously enter the shopping mall, sign strategic cooperation with the quality real estate enterprises such as India and Longhu, and upgrade the "four wheel drive" mode of street stores, department stores, shopping centers and electricity providers to the new four-wheel solid drive channel layout, attach importance to the development of Ole, and carry out the "Ole plan" with Shanghai Bailian Group and Shanshan Group.

What are the problems?

Joining, high inventory dragged behind

From the first half performance report, we can see that the franchisee is still the core component of the Taiping bird store. The number of stores is 2830, accounting for 63.9% of the total number of stores, but its revenue has dropped by 20.93% over the same period last year. Obviously, the Pacific bird is also facing the "hijacking".

First, restricted by the order mode, the latest products are hard to reach the franchised stores directly, lack of fashion elements nowadays. Moreover, the store image and display of goods will be restricted by joining, and the rate can not change with the brand at the first time. In this way, consumers will produce false appearances which are inconsistent with the actual situation, and directly lead to the damage of brand reputation.

Looking at the most troublesome inventory problem in clothing industry, Taiping bird has been reduced by 1 billion 694 million yuan, compared with 1 billion 836 million yuan at the end of 2018, but still accounts for 31.5% of total assets, which is higher than the average level of garment industry.


Anta's revenue growth ranks first in the industry, repeatedly challenged by short selling agencies.

Anta's first report card in the first half of 2019:

Anta group's revenue increased by 40.3% to 14 billion 810 million yuan, ranking first in the industry.

The profit attributable to shareholders increased by 2 billion 480 million yuan, an increase of 27.7%, and maintained a nearly 20% growth every six years.

Net operating cash inflow amounted to 3 billion 440 million yuan.

What are the breakthroughs?

The three major brand groups should be set up to deepen the sports market: create a professional sports brand group mainly based on Anta, Anta children, Spandi (SPRANDI) and AntapluS; fashion sports brand group mainly based on FILA, FILA FUSION, FILA KIDS and Xiao Xiao cattle (KINGKOW); outdoor sports brand represented by AMER SPORTS (amifen sports), Desanto and kirong sports. The three brands focus on their respective fields and achieve full coverage of consumers and full coverage of channels.

At the same time, Anta has created four categories of basketball, running, comprehensive training and sports life to promote growth. Among them, running and comprehensive training classes are rapidly distributing professional sports market with scientific and technological innovation.

The store's image is more digitalized, younger and professionalized: the ninth generation of Anta's new image store has appeared in Chongqing, Shanghai and Nanjing. With digitalization, youalization and specialization, the shop has more technology sense and fashion sense and enhances the interactive experience. In addition, the image of Anta children's new 4 stores has also been upgraded. It is mainly focused on professional sports, Trend Sports and baby children. It also has a new child testing system, which brings new shopping experience with scientific guidance.

What are the problems?

Questioned by the three largest short selling agencies: in the past year or more, Anta encountered Blue Orca Capital, GMT Research Limited and Muddy Waters Research muddy water three big short selling agencies sniper raid.

In July 8th, mudshui released the first short selling report for Anta, saying that Anta secretly controlled most of its first class dealers, thereby inflated sales and profit margins. The report caused Anta's market value to evaporate by about HK $10 billion 900 million and choose an emergency suspension. The next day, Anta issued a notice and resumed.

In the second reports of muddy water, he questioned Anta's largest shareholder, saying that in the 2008 Anta IPO, Anta insiders were suspected of using the agent system to transfer high-quality assets of listed companies (international brand retail business).

This year's semi annual report may be a powerful counterattack to Anta's doubts about the short selling of outside agencies. Anta disclosed the core data of FILA for the first time. In the first half of 2019, the gross profit of FILA reached 4 billion 673 million yuan, up 79.2% from last year's year-on-year, far exceeding the ANTA brand.


The main brand of Hai Lan home is strong and stock is still a big problem.

Hai Lan House's first report card in the first half of 2019:

Hai Lan home Limited by Share Ltd achieved revenue of 10 billion 721 million yuan in the first half of 2019, up 7.07% compared to the same period last year.

Net profit attributable to shareholders of listed companies was 2 billion 125 million yuan, an increase of 2.87% over the same period last year.

Net profit attributable to shareholders of listed companies after deducting non recurring gains and losses was 1 billion 990 million yuan, down 2.51% compared to the same period.

Among them, Hai Lan's main brand revenue reached 8 billion 628 million yuan, an increase of 5.05% over the same period last year.

What are the breakthroughs?

Multi brand operation ability: Hai Lan home group is mainly based on Hai Lan home, and there are 7 sub brands. Among them, the main brand of Hai Lan home has strong development momentum, which is closely related to improving the location and layout of stores, optimizing stock stores, enhancing the efficiency of single stores, and optimizing the channel structure. In addition, every brand of Hai Lan's home has developed better.

In the first half of the year, haalang's home took part in the London Fashion Week and held a number of brand launches in Thailand. It carried out a series of cooperative activities with IP, and outdoor advertisements and TV shows to show the brand strength.

Online expansion of social networking platform: hainang's home, while consolidating the advantages of the traditional mainstream platform, actively expands the social networking business, increasing the entrance of brand traffic, and making full use of new media such as WeChat, micro-blog, jitter, and fast hands to enhance communication and interaction with consumers and enhance customer stickiness.

   What are the problems?

Inventory is still a big problem: in recent years, the inventory problem of Hai Lan's home has always existed. In 2014~2018, its year-end ending inventory balance was 6 billion 90 million, 9 billion 580 million, 8 billion 630 million, 8 billion 490 million, 9 billion 470 million, respectively. The proportion of inventory accounts for revenue was 49.3%, 60.5%, 50.7%, 46.6% and 49.6% respectively. Although the total inventory was 8 billion 842 million yuan at the end of 6 in 2019, 6.66% lower than the beginning of the year, and the main brand inventory decreased by nearly 18 at the end of 6 months, and the turnover of stock was accelerated. But the high inventory problem is still the main problem facing the family.


GXG electricity supplier's strongest selling fashion men's clothing is facing the problem of traffic capping.

GXG "transcript" in the first half of 2019:

The group achieved revenue growth in the first half of the year, but net profit declined.

Revenue 1 billion 686 million yuan, an increase of 10.6% over the same period.

Net profit was 88 million 200 thousand yuan, down 17.9% compared with the same period last year.

What are the breakthroughs?

The electricity supplier has strong selling power, and the effect of inventory clearance is obvious: GXG group's online channel sales are growing at a high speed, increasing by 14.9% to 562 million yuan. In terms of overall revenue, online channel sales ranked first in 33.4% place. Among them, GXG group's core menswear brand GXG in 2018 to achieve a single brand breaking 400 million, Tmall men's clothing (men's clothing store) sales first. The development of online channels has effectively controlled its inventory, which has dropped by 1.58 billion over the same period last year, to 808 million yuan.

Using IP to jointly interpret the trend of the country: a series of joint market promotion activities has laid the foundation for GXG group to enhance customer loyalty. Such as: GXG X NetEase news "endangered animals" theme immersive flash shop will combine social hot spots and commodities to attract consumers to buy; GXG X BE@RBRICK joint concept store first entered Tokyo, Japan; GXG joint BE@RBRICK launched a joint series of products, which sold out on Tmall and the official website; GXG also combined Tmall's "national tide action" in the "Guset Nation China" exhibition in the interpretation of Chinese fashion.

What are the problems?

Facing the dilemma of electricity supplier traffic capping: as the online traffic tends to be saturated, the cost of obtaining electricity providers is increasing. The increase in the proportion of GXG e-commerce channel sales will definitely affect the overall gross profit of the group. During the period, the gross profit of GXG group was 838 million yuan, down 1.4% from 850 million yuan in the same period in 2018. At the same time, the gross profit margin of online channels has also declined by 5 percentage points over the same period.

Line down the whole shop: offline, affected by market factors such as the transfer of business circle and rising operating costs of stores, and the upgrading and integration of offline channels, GXG adjusted its store network in the first half of 2019, shutting down offline stores that failed to reach the established sales target. The total number of shops was reduced from 2250 at the end of 2018 to 2139 in the period, and 111 stores were closed.


Semir apparel children wear strong, main business bottlenecks.

Semir clothing in the first half of 2019, "transcript":

In 1-6 months of 2019, the total revenue of Semir apparel reached about 8 billion 219 million yuan, up 48.57% over the same period last year.

Operating profit reached 999 million yuan, up 15.29% over the same period last year.

Net profit attributable to shareholders of listed companies was 722 million yuan, an increase of 8.20% over the same period last year.

As of June 30, 2019, the total assets of the company amounted to 14 billion 808 million yuan, and the net assets attributable to the parent company owners were 10 billion 951 million yuan.

What are the breakthroughs?

The children's clothing sector was strong: in the first half of 2019, Semir clothing further optimized the children's clothing section, built a combination strategy of Barbara as the leading brand, supplemented by Macal and other brands in the mass children's market segments. In the high-end segment market, the main force built a combination of KIDILIZ CATIMINI and ABSORBA based retail businesses, and focused on the development of shopping centers, department stores and outlets. The first half of the report shows that its children's clothing business income of 5 billion 212 million yuan, an increase of 81.66% over the same period.

What are the problems?

The main business is facing a bottleneck: in the past two years, compared to the children's clothing plate with strong development momentum, the proportion of Semir's main business casual wear has declined year by year. In stores, children's clothing amounted to 5546, while casual wear was 3858 (excluding KIDILIZ group).

It is worth mentioning that, despite the fact that Semir's clothing business revenue has shown a continuous upward trend, it has not always been stable in terms of profits. Data show that in 2017, the net profit and operating profit of Semir apparel showed a drop of nearly 20%. To this end, finding new profit growth points has become the key to the development of Semir apparel.


YOUNGOR (clothing) for 4 consecutive years of revenue growth, transformation is still a long way to go.

YOUNGOR (clothing) in the first half of 2019, "transcript":

YOUNGOR group achieved double-digit growth in revenue and net profit, its revenue was 4 billion 583 million yuan, and net profit attributable to shareholders of listed companies was 2 billion 27 million yuan, representing an increase of 27.81% and 36.16% respectively over the same period last year. Among them:

YOUNGOR fashion apparel sector contributed to the bulk of brand revenue, accounting for 68.86% of total revenue, reaching 3 billion 156 million yuan, an increase of 11.86% over the same period last year. The apparel sector has been showing a trend of revenue growth for 4 consecutive years.

Net profit attributable to shareholders of listed companies was 648 million yuan, an increase of 6.90% over the same period last year.

What are the breakthroughs?

YOUNGOR, the three driving vehicle of clothing, investment and real estate, began to return to the main garment industry in 2016. During this period, YOUNGOR continued to carry out a series of reform and upgrading from upstream supply chain to terminal sales.

Using intelligent manufacturing to upgrade the industrial structure: at the beginning of this year, YOUNGOR joined the "A100" strategic partnership program. It accelerated the docking with Alibaba in terms of the operation of electric business, the transformation of the main brand, the incubation of MAYOR brand, the utilization of designer resources, the integration of consumers in the whole area, the data platform, and Ali cloud, which laid the foundation for the comprehensive digital transformation of enterprises.

Reshaping the three elements of "people's freight yard": in June of this year, YOUNGOR opened the first fashion shop concept with "business fashion elements" in China. For the first time, it used the combination of celebrity endorsement and fashion KOL to promote the theme, and won the recognition of high-end shopping centers in fashion and exposure. As of the end of the reporting period, the workshop has been located in 5 shopping centers.

What are the problems?

For 40 year old YOUNGOR, polishing at the end of the product has always been its core competitiveness. But with the younger and more individualized "Z generation" on the retail stage, the upgrading of consumption has higher requirements for brand interaction in product design and marketing. At present, YOUNGOR is still in the initial stage of transformation, facing new challenges.

Content marketing is insufficient: Jagl started late in content marketing, though he had tried some content marketing earlier, but the effect was not significant. What YOUNGOR is doing is just complying with the marketing environment and has not undergone qualitative transformation.

Channel upgrading challenges: during the period, shopping mall outlets and self owned outlets still account for a larger proportion, with 1338 stores and 473 stores, accounting for 78.64% of the total number of stores in 2303. Fortunately, its direct battalion accounts for over 90%, and self owned online stores are mostly self-supporting property, which provides strong support for the adjustment of later channels. In the first half of 2019, the number of stores in YOUNGOR shopping center was further upgraded, and there were 42 new stores, totaling 289.

To understand the market trend and comply with market demand is the key to the apparel industry to get out of the predicament. From the changes and latest achievements of the above 10 domestic listed garment enterprises, we can see the future development trend of the garment industry.

Industrial chain shortening: more and more enterprises begin to build their own factories. Before, from factories to consumers, there are at least three links in their hands. In the future, they may be directly from factories to consumers.

The transformation of products to younger, personalized and customized products: with the 90 and 00 becoming the main force of consumption, the younger generation of products has become the direction of transformation of many enterprises. These young consumers also pay more attention to the personalized and fashionable consumption experience. In the future, the brand can rely on big data and provide personalized service for individuals.

Build more brands and focus on different market segments: more and more enterprises will build multi brand matrix on the basis of main business, focus on different market segments, and achieve full coverage of consumers and full coverage of channels so as to gain new profit growth points.

Cross border marketing has become a trend: cross-border cooperation has become an indispensable means of clothing brand manufacturing topics and trends. How to cross the border cooperation, collide different sparks, tell the story of the brand, let consumers feel sympathy, and create sales, is the value of brand cross-border.

Digitalization will permeate the garment industry: in the future, the application of digitalization in clothing brand will continue to deepen, through the digitalization and intelligent application of hardware and software, to enhance the efficiency of enterprises and provide consumers with a better consumption experience.

Online and offline integration accelerates: throughout the apparel retail market at home and abroad, more and more clothing companies begin to accelerate integration online and offline.

The brand collectively sinks three or four line cities: at present, the second tier market is nearly saturated, and the three or four line cities that have not been fully developed become the "new battleground" of the domestic clothing brand.

No innovation is like waiting for death. Companies that are more powerful than you are constantly changing and innovating according to the needs of the market and consumers. Do you still act?

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