Here, Paul French of Access Asia explains to Forbes that 20% growth of retail in China is not an exaggeration due to skyrocketing incomes in second and third tier cities. Fast Fashion brands Zara, Mango, H&M, and others are having their moment while The Gap missed the boat.
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He notes that the American brand should have developed Banana Republic, a point with which I readily concur since there is a lack of high quality, but basic, work wear on the market. French also notes that the two routes for local fashion chains to rise is through acquisition of foreign brands or development of their own manufacturing base. Many apparel manufacturers have realized that the way to truly snatch a slice of their own country’s rapidly growing retail market is to switch from export-reliance to retail. In meeting foreign competition, local brands compensate for lower quality design, products and marketing with better distribution and market access.
The same Forbes blog by Russell Flannery, comments on the priority that leading domestic chain, Metersbonwe, places upon internet sales, as it takes on foreign rivals.
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