What movements do you see in fashion industry both in global and domestic context?
In 2009, Rochas rebirth; on February 5, LVMH announced their 2008 whole year sales report which indicates their second half year net income dropped by 4.25% to 1.14 billion euro dollars, this is the first time sales drop since the year 2002. While the same time, China market contributed more than 20% of 2008 total income of LV. Talk about Gucci, the first half year sales in China market in 2008 increased by 97.8%.
Local brand fashion companies in China also increased investment in domestic market while keeping international market expansion to face the competition from international fashion brands optimistically.
It is the hardest time but at the same time its best time too, dark season and also a bright season, dismal winter but also spring full of hope; we feel disappointed but at same time it’s promising too.
In your view, where does retail for Designer Brand go different than that from apparel retail?
The fiercest competition is brand loyalty in the brand conscious economy age, like religion, for designer brands, selling out every piece of clothes is some sort of symbol of spiritual belief transfer. While ordinary apparel retail takes product as core, even if they have core brand concept and spirit, they lack the spiritual symbol which takes human concept leader as designer brand.
You cater to the China's rapidly growing urban elites and affluent female professionals; is your business experiencing the brunt of current recession?
Global recession has brought direct consumer market slump, but we can still see some international brands open new stores in China from time to time, there is still large potential in domestic middle and high-end market. In order to cope with this tough situation, we are continuing focus on brand building strength and adjusting marketing strategies, currently the brunt is on the areas that we can control.
How do you envisage trends and potential of Corporate-wear market in China? How is OmniaLuo prepared to bag-up maximum of it?
I think there will be a small hot period in the consumer market after this crisis, and witness a gradual transition to stable increase. Whereas the increasing role of China plays in international economy, the prospect of domestic consumer market is very attractive except for export.
We propose to set up LUO EVER and OM WEEKEND, two business collection brands customized for women at 30-45 and 18-30, we hope the two brands and OMNIALUO could come into a more perfect brand system to take up the market.
Any plans to design for masculine and kidswear too?
Well, currently we would like to focus only on women's wear as women's wear market represents most of the garment industry, and there is a great potential. We have no plans to enter into men's and children's wear sector presently.
DISCLAIMER: All views and opinions expressed in this column are solely of the interviewee, and they do not reflect in any way the opinion of Fibre2Fashion.com.