Behind the veteran brand underwear brand in China is moving

Time: 2017-11-29

On the evening of the 20th, "Victoria's Secret" fashion show premiere boarding Asia, set off a visual feast in Shanghai. CNBC, CNN and other foreign media commented that such a high-profile big-name event is one of the efforts made by the Nuggets in the Chinese market.

North American consumer desires to buy

Wealth management performance has slowed the trend of growth has long been well established, this occupy the US underwear market share of over 30% of the brand, have felt the winter. Data show that as of August 26, 2017, Vime's parent company L Brands net sales for the month of 842 million US dollars, down 1%, same store sales fell 4%; same month main store sales fell by 13% . This is already a net decline in sales of 8 consecutive months.

Analysis, the U.S. consumer's willingness to buy Vermeil has been rapidly declining. The United States CNN website on the 17th article pointed out that the problem with the dimension is that women no longer want it, compared to the sexy, the trend now more inclined to comfort. As a result, the "sexy" label met the secret of natural enemies - no rim underwear or sports underwear. In addition to comfort, this underwear than half underwear Vivian. Weimei also hastily launched a steel ring underwear to cater to new tastes, but consumers do not seem to appreciate the fact that after all, they have more options online and offline.

At the same time, the Vetiver show, which directly reflects the level of consumer concern in North America, has also begun to "tarnish." Analysts believe that although the big show has become the commercial IP, the brand and commercial impact of the show has begun to show diminishing marginal effects.

The high ratings of the Weili show suddenly turned sharply in 2015. According to public figures, the number of watchers watched 9.29 million in 2014 and suddenly dropped nearly 30% to 6.59 million by 2015.

Aiming at China

February of this year, VMI in Shanghai and Chengdu even opened two full-class flagship store, a formal large-scale into the Chinese market. China became the fourth Vimicro underwear market in the United States, Canada and the United Kingdom.

Since 1995, Weidi held 22 years of underwear big show, the majority held in the United States, only four times left the United States to meet the layout of the European market. Edmund Sau's executive director Ed Razek has told the "New York Times", in 2016 the total cost of maintenance of about 20 million US dollars, called the world's most expensive show. It is reported that Shanghai Wei Mi show on the 20th fares were fired to 300,000 yuan a.

CNBC reported on the 21st, Anusha Couttigane, senior fashion analyst at retail consultant Kantar, pointed out that the expensive Weimeixiu will have a positive response in the Chinese market, because in order to attract Chinese customers' attention, there must be some big scenes activity.

"Chinese consumers are becoming increasingly wealthy and increasingly exposed to foreign brands," said Matthew Crabbe, head of Asia Pacific research at Britishminster Market Research. "They will pay for high-quality, distinctive products." However, he also said that foreign brands into China is not easy, or to do their homework to study the localization of countermeasures.

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