Underwear Brand, An Li Fang, Declined 7% In The Three Quarter.

Recently, 7-9 months of this year

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The overall sales fell by 7% on a year-on-year basis, mainly due to the depressed domestic retail industry and the depreciation of the renminbi. In addition, the same store sales decreased over the same period last year in shops operating for more than 21 months.

At the end of September, the total retail outlets of the company were 2147, of which 1960 and 187 were sales counters and specialized stores, with a total reduction of 69 in total retail outlets compared with the end of December.

Insiders told reporters here that this year, for the whole

In the industry, the crisis and opportunity coexist, the whole industry is slowing down, customers' consumption psychology is more rational, and luxury goods sales represented by LV are gradually slowing down, and customers are inclined to spend more on advanced brands.

As for the particularity of underwear products, underwear consumption has significant experience economic characteristics.

The offline channel represented by Direct stores and franchisees is the main channel for underwear consumption. According to its brand positioning, an Li Fang chooses the right sales channels and promotes customer experience through the upgrading of stores.

While Li Fang Fang is further consolidating the competitive advantage of the core brand, efforts to cultivate and promote E-BRA, Andrew and IVU with potential and low penetration have achieved some results.

The reporter has learned that there are 7 brands in the company, including the main brand, an Li Fang, the young lingerie brand Fendi poetry, the beauty care specialist COMFIT, the comfortable and environmentally-friendly E-BRA, the fresh, fashionable, healthy, people friendly Ando, the noble luxury LIZACHENG and the men's underwear brand IVU.

Mi Hanjie, an analyst with GF Securities, said that although China's underwear market is huge, its market concentration is very low, and the proportion of high-end underwear market in the overall scale is relatively low.

According to Euromonitor data, the total sales of the top 15 brands in China's underwear market in 2015 accounted for only 12.2% of the size of the underwear market.

Among them, five high-end underwear brands Manifen, AI, an Li Fang, Ttiumph, Wacoal accounted for only 5.2% of the market share, accounting for relatively low.

However, according to MI Han Jie, in such mature economies as Japan and Taiwan, high-end underwear accounts for over 20% of the whole underwear market, and the market share of the industry's leading market is very high.

Considering that Japan and Taiwan have reached the developed and advanced level respectively in many years, and in recent years, the economic growth is slower. Referring to the experience of Japan and Taiwan, the potential space of high-end underwear brands in mainland China in the underwear market should be more than 20%.

Compared with the current share of only 5.2%, there will be huge room for growth in the future.

With the steady improvement of the per capita GDP in China, in the next few years, the underwear market in China may experience a more obvious consumption upgrade in the next few years, which makes the market share of the high-end underwear significantly improved.