Esprit and GAP chose to cut off their tails to survive. Topshop, Forever 21, Newlook sadly withdrew from the Chinese market, and Iger went bankrupt… In the past, fast fashion brands captured countless consumers with their “fast pace” and following fashion trends. , but what I didn’t expect is that these fast fashion brands have failed one after another. Industry analysts believe that as consumers become more and more rational today, fast fashion needs to innovate and make breakthroughs to explore the transformation path of sustainable development.
Another fast-fashion women’s clothing choice to “close”
Recently, Another established fast fashion women’s clothing brand has declared “bankruptcy”. It is the French fashion women’s clothing brand Etam.
When it comes to the brand Iger, many consumers should be familiar with it, especially women born in the 80s and 90s. As a former “leader” in the clothing industry, Egger has stores in many large shopping malls.
It is reported that in 1916, Eiger’s first retail store named Etam opened in Germany. By 1928, the chain store developed to Paris and gradually became a famous women’s clothing chain in France and even Europe, with its headquarters in Paris, France. In 1982, Etam opened a store in Paris. Relying on the world’s most famous fashion capital, Etam has gradually become a famous women’s clothing chain store in France and even Europe.
In 1994, the Egger clothing series was introduced into the Chinese market and the first store was opened in China. In the next ten years, Egger ushered in a period of rapid development in China. According to relevant statistics, its number of stores in China once exceeded 3,000, and it has become synonymous with “high-end” and “fashion” in the minds of many girls.
But after 2002, global fast fashion brands entered China one after another, and Iger gradually broke away from the trend of the entire industry.
Public data shows that in 2015 and 2016, Egger’s operating losses in China reached 7.4 million euros and 19.4 million euros respectively. The losses in two years were equivalent to more than 200 million yuan. In the same year, the parent company listed in France announced its delisting. At the same time, Egger is ushering in a wave of store closures. So far, Egger has 0 stores in the Chinese market.
According to information pushed by the Shanghai Bankruptcy Court in November, Iger, a fashionable women’s clothing brand, has entered the “bankruptcy” process, and its assets are also undergoing “special “deal with.
Many fast fashion brands have lost the market
In fact, the entire fast fashion industry has recently Two years of struggling to move forward.
The reporter noticed that in the past two years, many brands that are familiar to consumers have staged a major retreat.
For example, in December 2018, New Look announced on its official WeChat public account, official Weibo and Tmall flagship store that it would close its Chinese stores and Tmall flagship store; in September 2019, TOPSHOP also announced Withdrew from the Chinese market; subsequently, Foever 21 announced its official withdrawal from the Chinese market, not only canceling its Chinese official website and flagship stores such as Tmall and JD.com, but also closing all its offline stores; last year, Old Navy, a sub-brand of the American fast fashion brand GAP, also stated will exit. Domestic brands have also felt the pain of the reshuffle period. Women’s clothing brand La Chapelle closed about 4,400 stores last year.
This trend has continued this year. Esprit announced its complete withdrawal from the Asian market, and as strong as ZARA, its parent company Inditex also announced the closure of 1,200 stores worldwide in June this year…
at A visit to the market revealed that from the perspective of street-facing stores, fast fashion has also lost its past style. Taking the Jiefangbei business district as an example, there are currently only two fast fashion brands left in the street-facing flagship stores.
“Several fast fashion brands we have settled in before have been replaced by sportswear brand flagship stores.” said the person in charge of Bayi Plaza.
Fast fashion needs to open up a new track of “sustainable fashion”
Fast fashion brands follow the “fast pace” The fashion trend has captured countless consumers, but now, why are they losing out?
In this regard, retail industry analyst Li Yunyang said that the change of brands is closely related to changes in public consumption habits. Fast fashion has quickly captured the market due to its novel styles and rapid updates. However, as more and more trendy brands enter the field of vision of young people, and fast fashion has relaxed its quality control in recent years, the market performance has gradually slowed down. decline.
Retail industry expert Min Guangya also said that the essence of fast fashion brands is to imitate the styles of some first-line big brands and push them to consumers at a faster speed. However, in terms of speed, fast fashion is not fast. The so-called “Fast” is more like a false proposition. After all, the seasonal clothing sales pattern will not change. With the downturn of the global retail industry, fast fashion has also lost its immunity.
“Since the global fast fashion brands entered China in 2006, it has gone through more than ten years of development. Now the consumer groups accumulated by these brands have been lost, and their requirements for product quality have exceeded Requirements for product freshness. In addition, these brands have not cultivated new consumers well during the more than ten years of development in China, which makes young consumer groups not interested in such brands.�” Min Guangya said.
Two analysts believe that as consumers are becoming more and more rational, fast fashion needs innovative breakthroughs to achieve “sustainable fashion.” At present, many fast fashion Fashion brands are also exploring the transformation path of sustainable development.
For example, Uniqlo is promoting the concept of environmental protection this year. Currently, GAP is also simplifying product configuration, focusing on jeans, khaki pants, T-shirts, sweatshirts/ pants, the four pillar products.
Similarly, C&A also stated that in the future, it will develop ecologically friendly cotton products, focus on sustainable fashion, and create three strategic pillars-sustainable products, sustainable supply, Sustainable living. In addition, Cos, a brand of H&M Group, has launched a second-hand fashion platform called Resell to carry out resale business. The digital platform is positioned as a circular and sustainable solution.</p
