In 2022, these clothing brands are lining up to say goodbye

According to a previous report by “Lianship.com”, more than half of the 64 listed apparel companies in the first half of 2022 experienced a decline in revenue and net profit. Faced with declining performance, “closing stores and stopping losses” has become a common choice for companies.

According to public financial report data, in the first half of 2022, 56 listed apparel companies opened a total of 112,722 stores, while the number at the end of 2021 was 115,261, which meant a net decrease of 2,539 stores in the first half of the year, of which specific details were disclosed. The 38 listed apparel companies with store data have closed a total of 5,810 stores.

Store closings under pressure on performance are not limited to listed companies. This round of “store closures and exits” has swept from fast fashion brands and designer brands to “three pits” and even celebrity fashion brands. In 2022, it will be apparel companies A year of lining up to say goodbye.

“The old era is over” and more than 20 companies have closed a large number of stores or announced their withdrawal

At the beginning of 2023, the fast fashion brand ZARA’s store on Nanjing West Road in Shanghai has officially closed. This store, which opened on February 24, 2006, is the Inditex Group’s first ZARA store in mainland China. On the same day, ZARA Hangzhou Yan’an store also officially announced its closure. This was ZARA’s fourth store in Hangzhou. It opened in August 2014. With a business area of more than 3,700 square meters, it became the largest ZARA store in Hangzhou at that time.

Also closing its first store in the mainland is H&M. On June 24, 2022, the H&M store located at No. 651 Huaihai Middle Road, Shanghai, officially closed its store. This was also the first store H&M opened in the Chinese market in 2006. According to public information, H&M has completely retreated from first-tier cities such as Beijing, Shanghai, Guangzhou and Shenzhen to sinking markets, closing more than 40 stores in the first quarter of 2022 alone.

At the same time that ZARA closed its first store in mainland China, French fast fashion women’s clothing brand Cache Cache was conducting clearance sales in many stores in Beijing. On Xiaohongshu, user “Chong Chong” posted a post saying that French women’s clothing brand Cache Cache would withdraw from China. Market: “Due to the changes in the epidemic for three years, the French fast fashion women’s clothing company Beaumanoir has now withdrawn from the Chinese market.” Many netizens also commented under this post that the Cache Cache offline stores where they are located have also been closed.

In Shanghai, 1,300 kilometers away from Beijing, we bid farewell to Joyce, the originator of luxury boutiques. On January 15, 2023, the Joyce Shanghai Plaza 66 store officially closed. This is also its last independent store in the mainland market. store.

According to incomplete statistics from “Lianship.com”, in 2022, more than 20 apparel companies announced a large number of store closures, brand closures or withdrawal from the Chinese market.

Statistics from “Lianship.com” found that the fast fashion category is the “hardest hit area” for store closures. Among the 20 companies that have issued a farewell letter to exit in 2022, 10 are fast fashion companies, accounting for half of the total.

Specifically speaking, in addition to the large number of Cache Cache stores mentioned above that are suspected of withdrawing from the Chinese market, GAP is also closing a large number of stores.

In 2022, GAP will close stores in cities such as Beijing, Shanghai, Guangzhou, Shenzhen, Changsha, Qingdao, Chongqing, Nanning, Nanjing, Foshan, Hangzhou, Nanchang, Kunming and Zhongshan.

In July, the e-commerce flagship stores of three brands, Bershka, Pull&Bear and Stradivarius, owned by Inditex, the parent company of ZARA, issued store closure announcements. Starting from July 31, 2022, The online store will cease sales.

In June, H&M closed its first mainland store;

In May, the American fashion apparel brand AEO (American Eagle) announced the closure of its online Tmall store, and the brand officially withdrew from the Chinese market;

On April 1, the MONKI Tmall flagship store of H&M Group’s fast fashion brand officially closed;

In February, A&F closed its Shanghai Kerry Center store, which was also the brand’s first store in the mainland;

In January, the Tmall official flagship store of Uterqüe, a high-end brand owned by Inditex Group, was closed.

It is worth noting that in 2022, four brands of ZARA parent company Inditex Group alone will announce their withdrawal.

In addition, Hanfu brands Zhiyuji, Ducheng Nanzhuang, Yijin Jiudu, and Huajianxi have successively announced their closure;

In terms of fashion brands, Stylenanda, a Korean fashion brand popularized by “Descendants of the Sun”, completely withdrew from the Chinese online market in October. STAYREAL, a fashion brand founded by Mayday Ashin and illustrator Fuji Liang, opened its Beijing Xidan Joy City store in August. Closure means that STAYREAL no longer has a store in the northern market.

Designer brand Babyghost, buyer store JOYCE, and men’s clothing brand Slade also announced their withdrawal.

In May 2022, Slade, a men’s clothing brand under the Lingzhi Group, announced that it would close all offline stores in China before July 31.

Slade pointed out: The significant reduction in passenger traffic in offline shopping malls and department stores has brought challenges to its sales recovery, and the high store costs have also made operations unsustainable. The continued high incidence of the epidemic, the weakness of the offline consumer market and the difficulty in reducing rental costs have made Slade’s goal of coping with the transformation of the consumer market out of reach.

The reason given by Slade is also one of the main problems faced by apparel companies at this stage.

The rise of new brands, 92 clothing brands opened their first stores or innovative stores

Although the withdrawal of a brand is regrettable, the market was immediately occupied by new brands.

�According to incomplete statistics from “Lianship.com”, in 2022, 92 clothing brands will open their first stores or innovative stores in the Chinese market.

Trendy brands, sports and outdoor brands, and luxury brands are entering the Chinese market.

Just when Stylenanda and STAYREAL are about to fade away, the trendy brand CANOTWAIT_ managed by William Chan has settled in Xinle Road, Shanghai; the trendy brand SPOONYARD has entered Tianjin Vientiane City, and the national trendy brands CLIMAXVISION, SMFK, supertofu, RèSIMPLE, ALL BEINGS, 33 Trente Trois, etc. are occupying shopping malls, Korean brands such as ROMANTICCROWN, COVERNAT, pushBUTTON, WE11DONE, BLANC&ECLARE, Japanese AMBUSH, British A-COLD-WALL, Palace Skateboards, and American fashion brand Supreme have also entered China and opened stores.

According to incomplete statistics from “Lianship.com”, in 2022, 17 of the 92 apparel companies will be fashion brand companies, accounting for about 18% of the total.

In addition, with the popularity of the 2022 Winter Olympics, sports brands have also gathered in the Chinese market.

In 2022, Japanese outdoor brand Goldwin, Austrian ski brand HEAD, Norwegian outdoor brand Helly Hansen, American outdoor sports Penfield, NFL, DCSHOES, Amer’s ski brand Peak Performance, French outdoor sports brand K-WAY , Swiss sports brand X-BIONIC, etc. have all chosen to open their first stores in the Chinese market in 2022.

BY FAR, The Row, Berluti, JIL SANDER, AMIRI, Ferrari, etc. have joined, continuing to expand the luxury goods camp in mainland China.

In addition, clothing brands represented by Youngor and INXX are actively developing sub-brands and making layouts. Take Youngor as an example. In 2022, Youngor’s brands MAYOR and HART MARX will open their first stores in Nanjing and Shanghai respectively.

Fast fashion brand FOREVER 21 and American extreme sports brand DCSHOES also chose to return to the Chinese market in 2022.

AAA

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