FBI-2019年中国服装市场报告（英文）-2019.6-48页_3mb

China Apparel Market Summary (2019)

Core Content

The China apparel market experienced a slowdown in growth in 2019 and 2020 due to increasing economic uncertainty, despite a strong uptrend in 2018. The market saw a peak growth of 7.8% in 2018, the highest since 2014, but this is expected to decelerate to 3.5% and 3.2% in the following years. The market is dominated by local and international brands, with a growing emphasis on e-commerce and specialty retailing.

Main Market Trends

• Internet Retailing Dominates Growth: Internet retailing has become the fastest-growing retail channel, with a significant increase in market share from 12.4% in 2014 to 31.9% in 2018.
• Specialist Retailers Gain Momentum: Specialist retailers and department stores are increasingly competing in the market, though department store sales have been declining due to market saturation and competition from e-commerce.
• Market Share Distribution: In 2018, womenswear held the largest market share, while sportswear and childrenswear showed the strongest growth potential. Sportswear, in particular, saw the highest growth rate at 19.5% yoy, outperforming the overall market growth.

Key Apparel Sub-Sectors

• Womenswear: The largest sub-sector in 2018, with a market share of 42.3%. Sales growth improved in 2017 and 2018, but is expected to decline to 2.7% in 2019 due to macroeconomic uncertainty.
• Menswear: The second largest sub-sector, accounting for 27.6% of total sales in 2018. Similar to womenswear, it has seen some recovery but is also expected to face declining growth in 2019.
• Childrenswear: Delivered strong growth momentum since the implementation of the two-child policy in 2016. The sector is projected to benefit from increasing birth rates.
• Sportswear: The fastest-growing segment in 2018, with 19.5% yoy growth. It is driven by rising health awareness and government policies promoting sports participation.

Top 5 Apparel Brands (2018)

Top 10 Listed Apparel Companies in China (2018)

Local Brands' Expansion Strategies

• Diversification of Product Lines: Brands are expanding into new categories and markets to increase brand value and market size.
• Flagship Stores and Concept Stores: Launching flagship stores and concept stores to enhance brand image and customer experience.
• Global Expansion: Local brands are entering overseas markets, particularly in Southeast Asia and Europe, to increase international presence.

Key Examples:

• JNBY: Launched SAMO and REVERB in 2018, focusing on designer fashion and sustainable practices.
• HLA: Expanded into Singapore, Malaysia, and Thailand with new store openings and product line adjustments.
• Semir: Introduced Balabala into the Hong Kong market and launched a new concept store in Shanghai.
• Bosideng: Re-launched its flagship store in London and plans to close non-down jacket stores to focus on core business.

Foreign Brands' Market Activities

Entering the China Market

• Bogner: Opened its first store in China in November 2018, targeting the ski and luxury markets.
• Kamakura Shirts: Launched its flagship store on Tmall, gaining popularity alongside luxury brands.
• Allbirds: Entered China with physical and online stores, focusing on sustainable and comfortable footwear.
• Champion: Expanded with eight new stores in 2018, driven by U.S. domestic demand issues and China's growth potential.
• Zadig & Voltaire: Partnered with local retailers to expand in China, aiming for 10–15% of global revenue in the region by 2024.
• COS: Launched its first menswear store in Beijing and expanded online via Tmall.
• Skechers: Opened its 3,000th store in China, which is also the largest in the world.
• Mango: Signed a cooperation agreement with Hangzhou Jingzhe to expand in China.

Exiting the China Market

• Nine West: Closed its last Beijing store in 2018 and exited the market due to declining revenue and profits.
• New Look: Withdrew from the China market in 2018, citing lack of local knowledge and high investment requirements.

Conclusion

The China apparel market is undergoing significant changes, with both local and international brands adapting to new market dynamics. While local brands are expanding through diversification and global outreach, foreign brands are either entering the market with new strategies or exiting due to challenges. The rise of e-commerce and the focus on sportswear and childrenswear indicate a shift in consumer preferences and market opportunities.