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I.T Group Ushered in the Year

 

Once upon a time, Hong Kong was the window for China to accept trend information, and the I.T Group was the representative.
Thirty years ago, the IT Group was only a small 200-square-meter store in Causeway Bay, Hong Kong. From the sale of “parallel imports” to the first barrel of Dacoz gold, it has grown to become one of the largest fashion retail stores in Hong Kong. . Ta stands in the clothing retail industry with more than 300 international brands and a number of its own brands, and has become a fashion “sacred place” for fashion chasers and many stars.
However, with the weak retail industry in Hong Kong, the acceptance of new things by Chinese consumers has surged, and the trend of business has begun to move from the edge of niche to the center.
Can the expansion of the I.T Group's territory in mainland China bloom like Hong Kong? The brand aging problem that every company will encounter after a long period of operation, can I.T Group adapt to market changes through new attempts?
Sinking in the second and third tier cities in the Mainland
In 2002, the I.T Group began to rush out of Hong Kong to locate the Chinese mainland market. Ta opened the first flagship store outside Hong Kong in Shanghai Xintiandi, opening a window for mainland young people to understand foreign trends. Three years later, the I.T Group was listed on the Hong Kong Stock Exchange in 2005.
Around the millennium, the development of the fashion industry in the Mainland has shown a situation of polarization. On the one hand, it is a luxury brand with high prices, and on the other hand, there is no quality and cheap brand.
IT, a natural group that has its own "Hong Kong-style trend", opened up the mainland market at that time, and introduced a large number of brands at one time with the help of the "buy shop" model: most of the fashion brands operated by "Big IT" come from masterpieces from all over the world. "Small it" is mainly based on the sale of European, Japanese and Korean youth trends. This way of doing business provides another direction in the development of polarization.
Hundreds of overseas brands and private brands have once allowed I.T Group to play different brand portfolio stores to quickly occupy the mainland market.
However, in recent years, the rapid development of fast fashion and light luxury brands has also squeezed the living space of the I.T Group in the Mainland to a certain extent. In the past few years, the IT group, which has always been the "best city, the best shopping mall, the best location" as the principle of opening a store, has already encountered bottlenecks in the first-tier cities such as Beijing, Guangzhou and Shenzhen. The saturated market has forced it to sink. Go to the second and third tier cities in the Mainland to find development opportunities.
At present, I.T Group has more than 500 direct retail stores across the country, covering more than 30 first- and second-tier cities. From the big data statistics of the winners, in the newly opened shopping malls of 50,000 square meters and above in 19 cities under the national key monitoring, IT Group's own brands “Big IT” and “Little IT” have 19 stores and 34 stores respectively. .
In addition, in order to adapt to the development of new domestic retail trends, IT Group is still making some new attempts: “Little IT” launched five different concept stores, including blue block, red room, green gallery, pink podium and yellow yard, which are integrated into fashion apparel. Elements such as daily necessities, footwear accessories, theme areas, and art installations are trying to create a sense of freshness for consumers.
What is needed is not discounted goods, but "new" and "tidal"
In fact, the development and expansion of the I.T Group in the mainland has also been cold. Especially in the past four or five years ago, the concept of the shop in the mainland is still in the cultivation stage, and the trend culture is in a small situation in the Mainland. Coupled with the impact of e-commerce and RMB exchange rate fluctuations, the situation of I.T Group was once pessimistic and its performance fell sharply.
However, this situation ushered in a turnaround at the end of 2014. This was first of all thanks to the emergence of trendy brands such as Vetements and OFF-WHITE. In particular, OFF-WHITE quickly became popular in Europe and America after its establishment in 2014. The I.T Group seized the market by cleverly playing the domestic and international trend “time difference”. In December of the same year, it became the OFF-WHITE China regional partner, helping the brand to open stores in Beijing, Shanghai, Tianjin and Xi'an.
In addition, in February 2018, I.T Beijing Market, co-founded by I.T Group and Kawakubo's Dover Street Market, was renamed Dover Street Market Beijing and officially became the world's fifth largest member of the Dover Street Market family.
Both parties perform their duties, daily operations are managed by I.T Group, and planning and creativity are handled by Dover Street Market. At the end of the same year, the fashion brand NAYOUNG Na, created by female star Xie Na, will also officially enter the I.T Group.
In addition to the agency brand, the I.T Group still focuses most of its 11 brands on izzue, b+ab, 5cm, etc., which contribute about 60% of sales each year. Shen Jiawei said that the group's target consumers are not cheap, they want new and ever-changing things.
In order to improve the speed of product renewal of its own brands and reduce the discount rate of goods, I.T Group also tried to adjust the supply chain system to reduce the design and production cycle of products from the previous six months to about three months.
Whether introducing new brands that match the young consumer base or adjusting the supply chain, I.T Group is concentrating on capturing the young consumer base.
In order to cater to the market, make multiple attempts
In addition to opening different store types and introducing new trendy brands, I.T Group is still making some new attempts to adapt to changes in the domestic market.
1. Find Wu Yifan as the spokesperson
The explosion of “Hip-Hop in China” in 2017 also boosted the trend culture into the mainstream of the business. Wu Yifan wore the show, which directly stimulated the demand for trendy clothing by young people in mainland China. In view of this, the I.T Group decided in the same year to appoint Wu Yifan as the first spokesperson since the establishment of the group.
2. Accelerate the promotion of e-commerce business
With the increasingly perfect e-commerce environment in the mainland market, I.T Group, which has always been the main line, is also actively expanding its online business. At present, the Group has established multiple platforms in the form of single-brand and multi-brand online stores in Tmall, and has established cooperative relationships with other online wholesalers in the Mainland. In 2017, the Group launched its official e-commerce platform, ITeSHOP, to further expand its market layout and open up online and offline channels as never before, extending the I.T Group to the entire mainland.
3, launched the glasses concept store NEITH and neith
In September 2018, I.T Group announced the official launch of the newly established eyewear concept store NEITH and Neith, which sells branded glasses from around the world. In November of the same year, the first NEITH also settled in the first floor of Galeries Lafayette in Shanghai. The I.T Group plans to launch a single store this year, with the intention of opening 10 to 20 independent stores within three years. The location is biased towards the selection of clothing stores under the I.T Group.
I.T Group's development of new business this time is in line with the positioning of the big I.T and small i.t. According to the plan, NEITH is positioned at the high end, and the neith is more popular. It also provides glasses for luxury brands such as Gucci, and also collects more eye-wearing brands to cover different groups of customers already owned by the group.
  to sum up:
What the I.T Group is facing is a fashion industry that has already accelerated its overall speed. The future development in the Mainland is still unknown.
The group turned its attention to second- and third-tier cities. Although compared to first-tier cities, local consumers face relatively few options. However, its income level and consumption level are limited. How to maintain brand tone, product cost performance and acceptance while the channel sinks is the key.
With the increasingly attractive form of designer brand collection stores, domestic platforms or brands such as YOHO! and Jiangnan Cloth have begun to diversify their business through brand and category combination to enhance their market share in the designer brand apparel industry. And influence.
Faced with the fiercely competitive fashion industry in the Mainland and young consumers who are more and more critical about personalization, how to achieve a balance between commercialization and differentiation has become a challenge for the I.T Group.

I.T Group ushered in the year
Once upon a time, Hong Kong was the window for China to accept trend information, and the I.T Group was the representative.
Thirty years ago, the IT Group was only a small 200-square-meter store in Causeway Bay, Hong Kong. From the sale of “parallel imports” to the first barrel of gold, it has grown to become one of the largest fashion retail stores in Hong Kong. . Ta stands in the clothing retail industry with more than 300 international brands and a number of its own brands, and has become a fashion “sacred place” for fashion chasers and many stars.
However, with the weak retail industry in Hong Kong, the acceptance of new things by Chinese consumers has surged, and the trend of business has begun to move from the edge of niche to the center.
Can the expansion of the I.T Group's territory in mainland China bloom like Hong Kong? The brand aging problem that every company will encounter after a long period of operation, can I.T Group adapt to market changes through new attempts?
Sinking in the second and third tier cities in the Mainland
In 2002, the I.T Group began to rush out of Hong Kong to locate the Chinese mainland market. Ta opened the first flagship store outside Hong Kong in Shanghai Xintiandi, opening a window for mainland young people to understand foreign trends. Three years later, the I.T Group was listed on the Hong Kong Stock Exchange in 2005.
Around the millennium, the development of the fashion industry in the Mainland has shown a situation of polarization. On the one hand, it is a luxury brand with high prices, and on the other hand, there is no quality and cheap brand.
IT, a natural group that has its own "Hong Kong-style trend", opened up the mainland market at that time, and introduced a large number of brands at one time with the help of the "buy shop" model: most of the fashion brands operated by "Big IT" come from masterpieces from all over the world. "Small it" is mainly based on the sale of European, Japanese and Korean youth trends. This way of doing business provides another direction in the development of polarization.
Hundreds of overseas brands and private brands have once allowed I.T Group to play different brand portfolio stores to quickly occupy the mainland market.
However, in recent years, the rapid development of fast fashion and light luxury brands has also squeezed the living space of the I.T Group in the Mainland to a certain extent. In the past few years, the IT group, which has always been the "best city, the best shopping mall, the best location" as the principle of opening a store, has already encountered bottlenecks in the first-tier cities such as Beijing, Guangzhou and Shenzhen. The saturated market has forced it to sink. Go to the second and third tier cities in the Mainland to find development opportunities.
At present, I.T Group has more than 500 direct retail stores across the country, covering more than 30 first- and second-tier cities. From the big data statistics of the winners, in the newly opened shopping malls of 50,000 square meters and above in 19 cities under the national key monitoring, IT Group's own brands “Big IT” and “Little IT” have 19 stores and 34 stores respectively. .
In addition, in order to adapt to the development of new domestic retail trends, IT Group is still making some new attempts: “Little IT” launched five different concept stores, including blue block, red room, green gallery, pink podium and yellow yard, which are integrated into fashion apparel. Elements such as daily necessities, footwear accessories, theme areas, and art installations are trying to create a sense of freshness for consumers.
What is needed is not discounted goods, but "new" and "tidal"
In fact, the development and expansion of the I.T Group in the mainland has also been cold. Especially in the past four or five years ago, the concept of the shop in the mainland is still in the cultivation stage, and the trend culture is in a small situation in the Mainland. Coupled with the impact of e-commerce and RMB exchange rate fluctuations, the situation of I.T Group was once pessimistic and its performance fell sharply.
However, this situation ushered in a turnaround at the end of 2014. This was first of all thanks to the emergence of trendy brands such as Vetements and OFF-WHITE. In particular, OFF-WHITE quickly became popular in Europe and America after its establishment in 2014. The I.T Group seized the market by cleverly playing the domestic and international trend “time difference”. In December of the same year, it became the OFF-WHITE China regional partner, helping the brand to open stores in Beijing, Shanghai, Tianjin and Xi'an.
In addition, in February 2018, I.T Beijing Market, co-founded by I.T Group and Kawakubo's Dover Street Market, was renamed Dover Street Market Beijing and officially became the world's fifth largest member of the Dover Street Market family.
Both parties perform their duties, daily operations are managed by I.T Group, and planning and creativity are handled by Dover Street Market. At the end of the same year, the fashion brand NAYOUNG Na, created by female star Xie Na, will also officially enter the I.T Group.
In addition to the agency brand, the I.T Group still focuses most of its 11 brands on izzue, b+ab, 5cm, etc., which contribute about 60% of sales each year. Shen Jiawei said that the group's target consumers are not cheap, they want new and ever-changing things.
In order to improve the speed of product renewal of its own brands and reduce the discount rate of goods, I.T Group also tried to adjust the supply chain system to reduce the design and production cycle of products from the previous six months to about three months.
Whether introducing new brands that match the young consumer base or adjusting the supply chain, I.T Group is concentrating on capturing the young consumer base.
In order to cater to the market, make multiple attempts
In addition to opening different store types and introducing new trendy brands, I.T Group is still making some new attempts to adapt to changes in the domestic market.
1. Find Wu Yifan as the spokesperson
The explosion of “Hip-Hop in China” in 2017 also boosted the trend culture into the mainstream of the business. Wu Yifan wore the show, which directly stimulated the demand for trendy clothing by young people in mainland China. In view of this, the I.T Group decided in the same year to appoint Wu Yifan as the first spokesperson since the establishment of the group.
2. Accelerate the promotion of e-commerce business
With the increasingly perfect e-commerce environment in the mainland market, I.T Group, which has always been the main line, is also actively expanding its online business. At present, the Group has established multiple platforms in the form of single-brand and multi-brand online stores in Tmall, and has established cooperative relationships with other online wholesalers in the Mainland. In 2017, the Group launched its official e-commerce platform, ITeSHOP, to further expand its market layout and open up online and offline channels as never before, extending the I.T Group to the entire mainland.
3, launched the glasses concept store NEITH and neith
In September 2018, I.T Group announced the official launch of the newly established eyewear concept store NEITH and Neith, which sells branded glasses from around the world. In November of the same year, the first NEITH also settled in the first floor of Galeries Lafayette in Shanghai. The I.T Group plans to launch a single store this year, with the intention of opening 10 to 20 independent stores within three years. The location is biased towards the selection of clothing stores under the I.T Group.
I.T Group's development of new business this time is in line with the positioning of the big I.T and small i.t. According to the plan, NEITH is positioned at the high end, and the neith is more popular. It also provides glasses for luxury brands such as Gucci, and also collects more eye-wearing brands to cover different groups of customers already owned by the group.
  to sum up:
What the I.T Group is facing is a fashion industry that has already accelerated its overall speed. The future development in the Mainland is still unknown.
The group turned its attention to second- and third-tier cities. Although compared to first-tier cities, local consumers face relatively few options. However, its income level and consumption level are limited. How to maintain brand tone, product cost performance and acceptance while the channel sinks is the key.
With the increasingly attractive form of designer brand collection stores, domestic platforms or brands such as YOHO! and Jiangnan Cloth have begun to diversify their business through brand and category combination to enhance their market share in the designer brand apparel industry. And influence.
Faced with the fiercely competitive fashion industry in the Mainland and young consumers who are more and more critical about personalization, how to achieve a balance between commercialization and differentiation has become a challenge for the I.T Group.

09 апреля 2019 12:32

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