Major Clothing Brand Depend on China for Success
Published By : 26 Aug 2015 | Published By : QYRESEARCH
In Beijing’s Chaoyang district, which is known for its Solana shopping area, young men and women adorned in latest fashion hang under the amalgamation of foreign clothing stores lugging their latest purchases.
In this trendy shopping arena, which is similar to that of big any other big metropolis like London, or New York, it is evident the reasons China has emerged as one of the biggest markets in the world for consumer gods, particularly clothing,
The rise f fashion=conscious consumers combined with weak performances of the largest retailers in the world in their home markets in Europe and the United States have been the main reasons for rapid expansion of brand names in China.
Though growing quickly, the Chinese market is still at its nascent stage of expansion, with abundant opportunities for foreign apparel brands.
The county manager of the company Hennes & Mauritz AB at the Chinese market stated that in 2015, the United States and China would be the biggest markets of expansion for the brand.
H&M, the Stockholm-based company will continue expansion in this year through its higher end store COS (which stands for Collection of Style) out of several locations. This also includes a new store of the company in the Beijing’s commercial area Sanlitun.
The Swedish company also have plans to open almost 400 new stores this year, with the highest number of store opening to be hosted by China and the United States.
H&M forayed the Chinese market in 2007, last year opened 69 new stores in China, which rose the total to 271.
In the interim, San Francisco based GAP Inc. is switching its focus to the global market, especially to reduce dependence on China and North America, where the company is grappling to win back customers.