The astonishing Chinese economy is growing at a splendid rate of more than 10% for the past 5 years. As the trade barriers have been removed by the Chinese government, more and more multinational companies are trying to set their respective businesses in this country in order to trap the astounding 1.3 billion potential customers. However, it should be noted that all those fashion companies who have by now entered China need to focus on the different regions of China, current trends, consumer behavior, pattern of living, income, wholesale, retailing, government regulations and other vital market components in order to enhance their business. Fashion in China is broadly categorized into two separate divisions. One segment is mainly associated with low priced basic clothing that is mainly sold under local brand names. And on the other hand customers can purchase these apparels in various Chinese departmental stores, multinational supermarkets and small boutiques.
While on the other hand, luxury brands and other expensive clothes sold in various branded showrooms and upscale departmental stores could be seen in China. As the Chinese economy is growing at a healthy economic rate of more than 10%, the country’s middle class can now have immediate access to several foreign apparel brands and other domestic brands as well. They have additional disposable income through which they want to buy trendy and fashionable clothes. This enhanced economic trend has resulted in the boom of fashion industry in China. Customers in China are getting more sophisticated and they wish to purchase extremely fashionable and higher quality clothes from their retailers. As a result of economic boom several fashion brands like Esprit, Glorious Sun, Tommy Hilfiger, Giordano, Guess, Baleno and others have emerged in the country. In this way, customers can have access to several multinational apparel brands under one roof without any hassles.
It has been noticed that the Chinese fashion industry has not only seen tremendous influx of Hong Kong and local Chinese fashion but increased arrival of foreign brands also. These apparel brands might be midsized in operations in their respective countries but may have a strong hold in Chinese market like Singaporean Apparel Companies such as Kevin and Samuel. In addition it has been observed that there are some fashion brands that are formed due to the recognition of other fashion brands in China in order to tap the productive fashion market. All these healthy fashion symptoms are considered to be extremely positive in China.
Fashion industry is also trying to make its strong presence in other second or Tier II cities in China. Cities like Beijing and Shanghai are considered to be the best markets for fashion industry in China. But now several fashion brands and other multinational companies are trying to capture Tier II cities in China like Tianjin, Chengdu, Nanping and other cities. Several prominent fashion brands like Jean West are already having its strong presence in various Tier II cities and even Tier III cities as well. This speaks for the volume and potential of fashion industry in China.
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