Home / Knowledge / News / Apparel/Garments / Apparel businesses will continue to close stores in China
Apparel businesses will continue to close stores in China
15
Mar '14
Some clothing businesses will continue to close stores in China as they would not be able to bear the cost pressure that comes along with a sharp increase in the number of stores, coupled with rising rents, high inventory and other factors, aver market analysts.
 
Top apparel brands like Zara, H&M, Uniqlo and Esprit have felt the impact of rising rents and other factors.
 
Hong Kong-based apparel brand IT’s interim report for fiscal year 2013-14 shows the Group’s net profit fell to 76.8 percent year-on-year, and it had to close 43 stores across China.
 
Last year, Smith Barney costumes closed over 200 stores. 
 
Sportswear brands like Anta, Xtep, 361° and other brands cumulatively closed more than 6,000 stores over the last one year period. However, these brands have increased efforts to sell online.
 
Experts say the dilemma currently being faced by the Chinese apparel industry is not unique to China. In Germany, famous brands have closed stores mainly due to competitive pressure from small clothing store chains and online shopping portals, according to the German Textile Retailers Association.
 
The apparel industry trend is making its impact also on the wholesale clothing industry, which is now trying to introduce new wholesale network model. Over the next five years, more than 60 percent of the traditional wholesale clothiers will have to change to new trading patterns or face extinction, according to analysts.
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search