Recently, Lianshang’s column summarized China’s fast fashion trends in 2020 and analyzed the fast fashion trends in 2021. According to incomplete statistics, in 2020, 8 fast fashion brands, including H&M, ZARA, UNIQLO, MJstyle, MUJI, UR, C&A, and GAP, opened a total of 203 new stores in the mainland, setting a record low.
01
Poor sales performance, Gap considers selling its Chinese business
Gap is working with an advisor to study options and has reached out to potential buyers to gauge acquisition interest. Relevant negotiations are still at an early stage, and a decision may be made to retain this business. The company’s revenue from Asia continues to shrink, accounting for about 5% of the total, data show.
02
8 fast fashion brands opened 203 new stores in 2020, a record low
Recently, Lianshang’s column summarized China’s fast fashion trends in 2020 and analyzed the fast fashion trends in 2021. According to incomplete statistics, in 2020, 8 fast fashion brands, including H&M, ZARA, UNIQLO, MJstyle, MUJI, UR, C&A, and GAP, opened a total of 203 new stores in the mainland, setting a record low.
The reasons for the decline in store openings include: changes in the market and consumer customer groups, online impacts and epidemics, and the brand’s own management cannot keep up with the “fast” pace of the market.
Looking forward to 2021, the trends of fast fashion brands include: the sinking of international and domestic fast fashion, the entry of major sports stores, the entry of lifestyle collection stores, the entry of innovative life experience formats, Domestic leisure or domestic retail collection stores will fill the space.
03
H&M suspends orders from Myanmar
The world’s second largest Apparel group-Swedish Haynes Morris Group announced that it will suspend orders from Myanmar suppliers.
As we all know, the current situation in Myanmar is tense. Myanmar trade unions are calling for the expansion and extension of the scale and duration of strikes to protest the military’s seizure of power. This will undoubtedly cause a heavy blow to the manufacturing industry.
H&M Myanmar General Manager Serkan Tanka said that in view of the current practical difficulties and uncertain situation in Myanmar, the company’s operational capabilities in Myanmar are limited, including raw material import, manufacturing and logistics transportation. All encountered serious challenges. </p
