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Chinese mainland's lingerie market is in the midst of consolidation. On
one hand, growing demand for lingerie, especially in the high-end market, has
been drawing big international brands to the mainland. On the other hand, the
lower-end market has been saturated with domestic products and brands, few of
which stand out. The resulting fierce competition has left domestic lingerie
companies with falling profits, though some are finding ways to set themselves
Employees work at a lingerie factory in Dongguan, South China's Guangdong
Province, in March 2016. Photo: CFP
Graphics: GT Graphics: GT
A woman surnamed Zhuang Comprar
Botas Mujer UGG Classic Sheepskin Short 5825 Chestnut , a
29-year-old white-collar worker, snuck away from the office on her lunch break
Monday to spend about two hours shopping at the newly opened Victoria's Secret
(VS) flagship store on Huaihai Road in Shanghai.
Zhuang found the store impressive. Inside the four-storey, 2,404-square-meter
space, which opened on March 8, 2017 to mark the International Women's Day,
bouquets of flowers sat among thousands of pieces of lingerie, and the scent of
perfume hung in the air. On the walls, LED screens showed videos of VS models
strutting fashion show runways.
Mujer UGG Classic Sheepskin Short 5825 Sand Baratas , who did not
want to give her full name, ended up buying two sets of lingerie for about 1,500
It is unclear how well the VS brand is doing in China. When contacted by the
Global Times, the company would not disclose its sales figures for the domestic
Worldwide, its sales rose to $7.78 billion in 2016, up from $7.67 billion in
2015, according to the company.
VS has two flagship stores in the Chinese mainland, one in Shanghai and one
in Chengdu, capital of Southwest China's Sichuan Province Botas
Mujer UGG Classic Sheepskin Short 5825 Negras Rebajas , as well as
26 stores selling accessories and makeup.
Other foreign lingerie brands are also vying for a piece of the growing
Chinese domestic market. The Italian high-end brand La Perla, for example, has
opened nine stores on the mainland since it entered the market in 2007.
Foreign lingerie brands are coming to China just as the country's lingerie
market, particularly the high-end market, is taking off, said Cai Sujian, head
of the Jiangsu-based China Luxury Institute.
But Cai stressed that overseas brands such as VS are not going to
fundamentally alter the makeup of the domestic lingerie market, which remains
dominated by low-end Chinese brands.
"A price war is eroding the domestic lingerie market, and the industry is
undergoing a transition botas ugg bailey bow
mini ," he told the Global Times on Monday.
The rise of high-end
As Chinese women shed the stereotype of being
conservative and reserved, the demand for lingerie has skyrocketed in recent
The country's underwear market grew from $15.5 billion in 2010 to $25.5
billion in 2015, while sales of lingerie nearly doubled from $9 billion to $17.9
billion, according to a businessoffashion report in May 2016.
Official lingerie sales data in China in 2016 had not been disclosed.
Consumers interviewed by the Global Times also said they were willing to
spend more on lingerie. The aforementioned consumer Zhuang, for example, said
that in 2016 she spent about 300 yuan a month on average on lingerie, which
accounted for about 4 percent of her monthly income, but five years ago she
bought new lingerie less than once a year.
Another consumer, Helen Meng botas ugg bailey bow
baratas , a 30-year-old woman working in the fashion industry, said
she has been spending more on lingerie over the last two years.
"I think quality is more important than price, and I would consider buying
more expensive lingerie, like those priced above 1,000 yuan, as long as their
quality matches the price," she told the Global Times on Sunday.
It's the high end of the market that has been taking off, according to Cai.
"In the domestic high-end lingerie market, sales grew by more than 10 percent
year-on-year in 2016 botas ugg grises
baratas ," he said. "This trend has attracted overseas lingerie
brands, most of which are more mature than domestic brands, to the Chinese
Still, foreign lingerie brands pose little threat
to their domestic competitors, Cai said. The most significant competition in the
market right now is among Chinese brands.
Although demand for lingerie is rising, the fierce competition in the Chinese
market has not made life easy for domestic lingerie companies, said a salesman
surnamed Dai at lingerie maker Miiow Co, based in Wuhan, capital of Central
China's Hubei Province.
"Although the market has grown botas ugg marron
chocolate , there is too much competition," said Dai, who did not
want to disclose his full name.
The competition can be seen in the number of Chinese lingerie makers, which
have almost tripled since 2010, when there were about 10,000 such companies in
China, according to Dai.
Company costs have also increased.
"In 1998, when Miiow was established, the company paid a senior executive
about 2 botas ugg
chestnut ,000 yuan a month. Now, a person in the same position
makes about 30,000 yuan," Dai told the Global Times on Saturday. The average
annual salary for ordinary workers in Hubei was more than 5,000 yuan in 1998,
according to the provincial government.
Rising costs have eaten into lingerie company profits. Miiow could boast
profit margins of 30 percent in the late 1990s, Dai said. Now it is about 20
percent. He also noted that since 2014, the company's sales revenues have been
falling. In 2016, they slumped about 5 percent.
The board of directors of lingerie maker Guangdong Cosmo Lady Co botas ugg negras
baratas , which owns lingerie brands Cosmo Lady and Ordifen,
expected profits to fall 50 percent to 60 percent in 2016, China Fashion
magazine reported in January, citing the company's board of directors.
There is also a surplus of products on the domestic lingerie market, and
fierce competition has caused domestic companie
By Xinhua .