China's apparel market attracts foreign investors

In the first half of the year, per capita clothing expenditure was 668 yuan, which was a year-on-year increase of 2.4%. Chinese people spent money on clothes and clothing to create a huge clothing consumer market, which also attracted the attention of foreign businessmen.

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Statistics show that in the first half of this year, the per capita consumption expenditure of the country’s residents was 8,834 yuan, a real increase of 6.1% after deducting price factors. Among them, the per capita clothing consumer expenditure was 668 yuan, an increase of 2.4% year-on-year, and the share of per capita consumer spending was 7.6%.

A huge population base, nearly 110% of per capita spending is used to install. The huge Chinese costume consumer market has created irresistible attractions for foreign businessmen.

United States-renowned casual apparel manufacturer Gai Group announced in Shanghai recently that the largest Gap brand flagship store in Greater China has settled in Nanjing Road Commercial Street. In early 2018, the Group's China retail headquarters will also be located here.

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Gap, which has been established for nearly 50 years, entered the Chinese market in 2010. Currently, it has deployed approximately 160 stores in mainland China, Hong Kong, and Taiwan, and established e-commerce channels on well-known e-commerce platforms such as Tmall and Jingdong. .

McKinsey's "Accelerated Forward: The Road to Modernization of Chinese Consumers" released in 2016 shows that compared with 2012, Chinese consumers' spending on apparel has the highest growth rate among consumer products.

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While overseas brands such as Uniqlo and H&M have expanded the Chinese market through physical stores and e-commerce channels, other overseas brands have entered this promising consumer market through mergers and acquisitions. In April last year, Shandong Ruyi Group acquired SMCP Group for more than 1 billion euros. The latter owns Sandro and other three luxury luxury clothing brands. There are also a number of overseas apparel brands that incorporate the Chinese market into their global map in a similar way.

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