In the recent years, the sales volume of high-end lingerie in Wuhan market in China grows up in a rapid speed. Although only a minority of Wuhan¡¯s citizen can afford to consume these high street products, this niche market still gains and remains steady customer base.
In the recent years, the sales volume of high-end lingerie in Wuhan market in China grows up in a rapid speed. Although only a minority of Wuhan’s citizen can afford to consume these high street products, this niche market still gains and remains steady customer base.
And the high end lingerie market in Wuhan province is dominated by foreign brands while local brands have to target at the middle or low end market, even though they source the best fabric from all over the world and the quality and craftsmanship reach the international leading standard. The reason is that international brands master the high value-added part of the whole industry chain, including innovative design, sales and fully make use of international source of manufacture. But local lingerie company is just earning the low profit of production. Without their own design and professional marketing and sales teams, local lingerie company just sells RMB25-100 per lingerie. However, the high end lingerie can be sold over RMB 500-1800 per lingerie. It means that the profit of each foreign lingerie equals to that of each local lingerie.
Li Qun Bao, the general secretary of Han Apparel Trade Association, said that local lingerie companies should build up their own brand as soon as possible because many international lingerie brands have quietly entered into the Chinese market. These foreign brands have firstly open up the market from coastal areas and are expanding to central and western areas of the country. A new wave of severe competition is coming soon.
Comments
View more