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Old Fashion And Fast Fashion Encounter "Middle Age" Crisis

2014/8/7 9:14:00 14

in the current background of the depth adjustment of the entire garment industry and the attack of many fast fashion brands such as H&M and ZARA, the old fast fashion in China has encountered the "middle age" crisis.

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reporter saw from agate's report that in the first half of this fiscal year, its revenue was 598 million euros, down 1.6%. compared with the same period last year. The European market grew by 4.8% to 411 million 700 thousand euros compared with the same period last year. The Chinese market dragged its feet, and dropped sharply from 6.1% to only 186 million 800 thousand euros compared with the same period last year.

for the decline of China's performance, Iger pointed out that AGG had difficulty in product and business mode. In 2013, IgG sales had declined, especially in department stores.

"the decline of China's performance in China has other reasons besides the impact of the overall environment."

Xiong Xiaokun, a light industry researcher at CIC, pointed out that, on the one hand, its innovative ability declined, and the design style has gradually weakened to the attractiveness of consumers; on the other hand, the activity of the sales link was low and slightly tired; in addition, its brand publicity did not expand further, resulting in the weakening of brand influence and the impact of other emerging brands.

agogue is not the first old brand of "fast fashion" under attack.

Si Jie global sales in China from 2011 to 2013 have experienced three years of decline, with sales of only HK $2 billion 670 million, HK $2 billion 587 million and HK $2 billion 410 million.

"The biggest problem of Si Jie world is brand aging."

Cui Hongbo thinks.

in fact, whether it is agge or Si Jie universal, it has a very glorious history in China.

In 2008, its sales reached HK $37 billion 200 million, with a net profit of HK $6 billion 400 million.

Cui Hongbo, founder and CEO of Shanghai Zheng Jian Brand Management Consultants Ltd., points out that this is related to the rough growth pattern of the entire garment industry in the past. P

"In the past, it was the two way to push up sales, open stores and raise prices, but now the bubble brought by this development mode has been squeezed."

and in Xiong Xiaokun's view, the emergence of the "middle-aged crisis" of old fashion and fast fashion is due to the fact that its own innovation and pformation have not kept pace with the pace of market development.

"Compared with the new generation of fast fashion brands, the old fast fashion brand has a higher price, and the garment renewal speed is slower, the style innovation is not high, and the competitiveness is gradually weakened."

Xiong Xiaokun thinks.

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On the implementation of P, agge has long been aware of the bottleneck of China's market development.

It is understood that AI plans to end 200 sales counters, while opening independent stores in the shopping center, to strengthen the development of online sales.

According to its first half financial report, in the first half of the year, IgG has closed 88 stores in China, and its total number of stores is 3080, which is 275 less than that of 3355 a < href= http:// www.sjfzxm.com/news/index_c.asp www.sjfzxm.com/news/index_c.asp > /a in 2012.

although this adjustment has some effect, it is still difficult to save its predicament.

In the semi annual report, IgG pointed out that online sales and shopping centers grew better, but still failed to offset the impact of the decline in department stores.

P > for future adjustment, Iger points out that the future needs to adapt to the consumer diversity of the Chinese market, reduce discounts and operate at a new brand platform to emphasize the foundation of the IgG French brand and to meet the taste needs of Chinese consumers.

"this adjustment needs a cycle."

Cui Hongbo thought the adjustment would be very difficult.

"It doesn't mean that if you want to pform to a fast fashion, you will become a fast fashion brand. The most important thing is that the consumer should think you are a fast fashion brand."

Cui Hongbo believes that this needs new ways to drive.

Whether these old brands can be adjusted depends on whether their style, design can be differentiated, whether they can keep up with the trend, and whether their brands have independent personality and appeal.

these old fashions are dominated by agents before, and store management is not strong enough.

Now the fast fashion giants are mainly direct battalions and have strong retail operation capability.

"Old brands can actually learn shop management experience and so on," Cui Hongbo pointed out.

In the semi annual report, P announced that it would launch a series of make-up for the European market.

A spokesman for the brand said in an interview with Agence France-Presse that 600 cosmetic products, 32 accessories (painting, make-up sponge, etc.) and bath products (shower gel, moisturizing lotion) will be launched from now until the end of September. They will open 15~25 square meters of "special counter" in Eiger brand store and sell products in the official website.

Although it has not disclosed whether the make-up series will enter the Chinese market, he also revealed in the semi annual report that it will concentrate more on controlling inventory in the Chinese market and put power under the sales management level, which will be closer to the 3000 stores.

In particular, it will focus on building a platform that can accommodate more European brands, so that the industry is full of reverie for whether it will bring the make-up into the Chinese market in the future.

At present, in the Chinese market, IgG has ES, underwear series, E-Homme and E&Joy series specially designed for shopping centers.