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Founder, Chairman and CEO, Baozun Inc., Vincent Qiu recently shared in Hong Kong Economic Journal on GAP’s transformation in China since Baozun’s acquisition last year. The apparel brand’s transformation has reached the mid-way mark and is adjusting its style and product offerings to cater to Chinese consumers sense of #fashion and lifestyles. As a major fashion brand, Gap's extensive operations consist of various aspects - from #design, #supplychain, factory management to fabric innovation. These insights in brand management helps Baozun to ensure seamless integration from supply to demand. The team plans to expand GAP's presence by opening more stores this year in China. Read more about the Hong Kong Economic Journal coverage here: https://lnkd.in/gisWh6gg #Baozun #ApparelIndustry #ProductDesign #Phygital #eCommerce #BrandStrategy #Apparel #SocialCommerce #Retail #DigitalCommerce

In fact, I am very optimistic about the current trend. I believe it is very suitable for the current situation in China. After more than 40 years of reform and opening up, the economic resources that the younger generation can master are much less than what their predecessors could obtain at the same age stage. However, the tremendous development of productivity has greatly enriched material production in China, and prices are also very affordable. For young people, as long as they don't buy houses or indulge in luxury consumption, they can live very well. In that case, they don't need to choose luxury brands. On the contrary, with the construction of a cost-effective supply chain, local design capabilities are also developing, and local designers and consumer brands are more suitable for the taste of young people. They also do not impose excessive premiums. Such consumer products truly match the lifestyle of young people. This cannot be considered as a downgrading of consumption; it is simply a development that restores the essence of consumer behavior.

China's Youth are Rebelling Against Prestige... In a bold departure from traditional fashion norms, young Chinese are flocking to wholesale markets for their clothing needs. Rejecting the notion that style is tied to brand prestige, these forward-thinking individuals have embraced the idea that value isn't defined by a high price tag. Wholesale markets, once considered outdated, are now experiencing a revival as vibrant hubs of fashion exploration. Even amidst the hustle of Beijing's Third Ring Road, these markets draw in a continuous stream of youth seeking a unique shopping experience detached from inflated prices. Here, clothes are priced at a mere fraction of what one might find in high-end stores, allowing fashion enthusiasts to fully indulge without financial strain. This shift is more than just a change in spending habits; it's a complete reimagining of consumption. Wholesale markets are now akin to treasure troves, where each purchase is a victory, and personal style takes precedence over fleeting trends. By embracing the tactile, real-world experience of shopping, these young shoppers are rewriting the rules of fashion engagement. In this evolving landscape, wholesale markets have transformed into havens of affordability and authenticity. Fashion education and inspiration now thrive in these bustling spaces, where trendsetting market owners curate a genuine experience rooted in the heart of fashion evolution. As styles fluctuate rapidly in the digital realm, these individuals are redefining their relationship with fashion. By seeking affordable yet stylish items, they're reasserting control over their wardrobes and expressing their individuality without compromise. Through this movement, the power of fashion language is reclaimed, proving that style isn't confined to brand names or price tags. What do you think about the shift? #China #Fashion #GenZ #Trends #ChineseConsumers #Retail

The reason the wholesale markets are thriving is because the prestige brand product and the wholesale products are exactly the same. Luxury brands must not only add marketing value to their products but actual premium materials that are not excessively marked up to survive this new generation of buyers.

China's Youth are Rebelling Against Prestige... In a bold departure from traditional fashion norms, young Chinese are flocking to wholesale markets for their clothing needs. Rejecting the notion that style is tied to brand prestige, these forward-thinking individuals have embraced the idea that value isn't defined by a high price tag. Wholesale markets, once considered outdated, are now experiencing a revival as vibrant hubs of fashion exploration. Even amidst the hustle of Beijing's Third Ring Road, these markets draw in a continuous stream of youth seeking a unique shopping experience detached from inflated prices. Here, clothes are priced at a mere fraction of what one might find in high-end stores, allowing fashion enthusiasts to fully indulge without financial strain. This shift is more than just a change in spending habits; it's a complete reimagining of consumption. Wholesale markets are now akin to treasure troves, where each purchase is a victory, and personal style takes precedence over fleeting trends. By embracing the tactile, real-world experience of shopping, these young shoppers are rewriting the rules of fashion engagement. In this evolving landscape, wholesale markets have transformed into havens of affordability and authenticity. Fashion education and inspiration now thrive in these bustling spaces, where trendsetting market owners curate a genuine experience rooted in the heart of fashion evolution. As styles fluctuate rapidly in the digital realm, these individuals are redefining their relationship with fashion. By seeking affordable yet stylish items, they're reasserting control over their wardrobes and expressing their individuality without compromise. Through this movement, the power of fashion language is reclaimed, proving that style isn't confined to brand names or price tags. What do you think about the shift? #China #Fashion #GenZ #Trends #ChineseConsumers #Retail

Here's exciting news for eco-conscious fashionistas in Hong Kong! 500-backed Carousell Group’s secondhand fashion platform REFASH just launched in Mong Kok, expanding beyond their existing network of 20+ stores across Singapore and Malaysia. The new store offers women’s fashion items from Singapore and other Southeast Asian brands, unique and otherwise unavailable in Hong Kong. These items even go at up to 70% off the original retail price. Shoppers may even snag ‘famous’ pre-loved clothing from REFASH’s ‘Celebrity Closets’, featuring items from 10 local influencers and celebrities who are passionate about the sustainable fashion movement. Founder & CEO Aloysius Sng shared, “REFASH started 8 years ago to extend the lifespan of clothes and build a more sustainable future for fashion. I am heartened that over the years, we have collectively diverted over 7.3 million clothes from landfills and given over 3.6 million used clothes a second life.” Learn more: https://bit.ly/4dlmpBF Siu Rui Quek | Marcus Tan | Lucas Ngoo #500Global #500SoutheastAsia #500Strong #startups #technology #innovation #venturecapital #asia #southeastasia #singapore #hongkong #fashion #secondhand #preloved #recommerce Photo credit: Marketing-Interactive

💹 Hong Kong-listed fashion company Bossini has reported a 69 per cent increase in its loss for last year, despite a 5 per cent overall sales increase and a gross margin improvement from 47 per cent to 50 per cent. Chairman and executive director Jianguo Zhao said foot traffic in stores has continued to improve since the end of the pandemic and the return of tourists to Hong Kong and there were “positive signs of recovery in varying degrees” in its core markets of Mainland China, Hong Kong and Macau. Bossini said it is focusing its resources on the repositioning of ‘Bossini.X’ in China, transitioning it from a brand of cost-effective everyday clothing to functional light sports clothing. Full article: https://lnkd.in/gJ2-MYVD Inside Retail Asia

Providing indepth analysis to the case study of apparel business expansion wherein the US based jeans manufacturing company want to expand its business achieving 25% growth in revenues and have decided to enter the Chinese market and thus needs relevant detailed suggestion and solution to achieve this or alternatives solution to expand its business- Firstly to expand the business to other countries we need to look upon various key pointers like: 1. Import policy of countries where we intend to introduce and expand our business 2. Trade Barriers , Duties and Trade Agreements 3. Consumer choices 4. Consumer behaviour 5. Also the economic status of targeted consumers In case of China where the US based mid price jeans manufacturer wants to introduce its business to low-mid income adults, it will prove to be an herculean task as: China has 182$ Billion worth of exports in apparel market whereas it only has 11$ Billion worth of imports which suggests a bleak future for a foreign company to set up its fortunes in China in apparel business. Also Chinese rules promote local items over international products. Apart from this the Consumer choices in China reflect two key parameters which are: 1. Fit and Comfort are main priority 2. Local brands are preferred So on concluding based on all the above facts and facets it becomes clear that the company would not be able to hit its target of augmenting its revenue by 25% if it decides to invest and expand its apparel business in China and thus i would recommend it not to invest in China. Additionally in my opinion, to augment its revenue by 25% or more, the company should look for options on investing in countries like India, Pakistan and other South-east asian countries which have vast middle age population that prefer international brands over local brands and that too at mediocre rates due to majority of the population of these countries lying in middle class income level and poverty. Also these countries give high regard to fashion-sense. For all these reasons i believe investing in these countries and introducing its apparel business in jeans category would bring the US based firm desired growth in terms of increament in its revenue by 25% or much more. #consultingcases #casestudy #metvy #iimbangalore

👖🎌 Sourcing in Vietnam 🎯🇻🇳 🏭 Eighty factories and 240,000 workers make Uniqlo’s products in Vietnam, making the country one of its top manufacturers in Asia, CEO of UNIQLO Vietnam has said. Uniqlo, which started life as a humble little store in Hiroshima in 1984, has now grown into the biggest clothing retailer in Asia and one of the four largest in the world. 🗣️ In a recent statement Hideki Nishida said: "From our local partners’ factories, ‘Made in Vietnam’ products are distributed to over 2,400 stores worldwide, playing an important role in our global value chain." 📍 Last year, more than 50% of products sold at Uniqlo stores in Vietnam were manufactured locally. 🌍 Fashion products made in Vietnam are also gradually increasing their global market share. 🧮 Data from investment firm Mirae Asset Global Investments shows that in 2022 they held a market share of 18.3%, 15.6% and 31.1% in the U.S. Japan and Korea. ⏩ Fast Retailing, Uniqlo’s parent company, has outsourced manufacturing to Vietnam for more than 20 years, decades before the fast-fashion retail giant opened its first store in the country, in HCMC, in 2019. 👷♂️ Some 240,000 workers are currently employed or involved, directly or indirectly, in their production process in Vietnam. Uniqlo has around 1,000 employees working in its retail operations in Vietnam. ♿ Nishida promised to increase the rate of Vietnamese store managers, which is currently 70%, and also hire at least one disabled person in each store as part of the brand’s commitment to inclusivity and equal opportunity. ♻️ Uniqlo’s partners in Vietnam are all capable of producing many of its key products, such as the ultra light down product line, trademarked HEATTECH fiber technology, with the faux fur coats made entirely from recycled PET bottles with advanced manufacturing processes. ⚙️ To aid its partners, Fast Retailing sends the Takumi team, a group of skilled artisans, to offer technical knowledge and support, ensuring all products meet global safety and quality standards. 🆕 Despite the gloomy economic outlook, Uniqlo managed to open seven new stores this year to take its total number to 22 in the country. 📈 Fast Retailing’s net profit for the financial year ending August was up 8% at JPY296 billion (US$1.9 billion), thanks to record revenues of JPY2,770 billion (US$18.6 billion). https://lnkd.in/gFY_EeQh

Thrilled to introduce "Unboxing China's Global Brands"-a new series that dive into the success stories of Chinese brands making a mark on the global stage. While Shein has become a well-known name, many other Chinese brands are thriving under the radar. First up: Miracle Miles - a maverick that doesn't quite fit our mold. Born in New York with a CEO who migrated from China in his teens, this brand masterfully leverages the retail networks of the US and the manufacturing prowess of China. Here are the highlights: 1. Started as a brick-and-mortar women's shoe seller in 2009. 2. Shifted to online marketplaces in 2014, leading to rapid growth. 3. Established a diverse brand portfolio catering to various customer segments. 4. Following SHEIN‘s path: Digitalized supply chain, leveraging data-driven strategies for success. 5. Expanded globally, serving over 16 million customers across 10 countries. 6. Reopened brick-and-mortar stores in 2023, marking a return to offline retail. #MiracleMiles #Retail #Ecommerce #Growth #Expansion