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Feel-good fashion pushes luxury lingerie sale in China
28 Jul '16
4 min read
Cosmo Lady, which has 8,600 outlets including Ordifen's 550 China stores, saw robust growth in its mass market sales last year, but warned about its profits for the first half of this year, citing China's slowing economic growth, consumer caution and competing online sales.
Hong Kong-listed Embry Holdings, which owns the Embry Form lingerie brand, said its group retail sales slipped by nearly a fifth in April-June on tougher competition and the economy.
Despite those bumps, the lingerie sector retains a strong appeal, said Eugene Mak, an analyst at China Merchant Securities in Hong Kong, and firms like Cosmo Lady are still outperforming other apparel retailers.
He predicts the market will hit a consolidation phase at some time. “It's a very young market, but in the near-term it's going to be messy,” he said. (SH)
Fibre2Fashion News Desk – India
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