8Seconds Plans To Enter China To Seize The Market Within Two Years.

The Republic of Korea

8Seconds has been established for 3 years, and its sales are excellent. Next step is to open up international markets.

At the end of December, 8Seconds is expected to be full year 2014.

An increase of 20% over the previous year, to 156 billion won, about 143 million 500 thousand dollars.

During this period, the brand opened two new stores, and the total number of stores has reached 28.

At the same time, brand sales in 2017 reached 380 billion won, about 349 million 490 thousand US dollars, and the number of stores reached 58.

"8 Seconds" positioned the target from the stage of commodity planning.

The first door to globalization is to prepare to enter the Chinese market.

In recent redesigned logo, the Chinese name of the brand has been added.

Jeong-Kim, President of 8Seconds, said 8Sceonds will open the store in China in 2 years.

"Chinese tourists are 8Second's largest international consumer group.

After stabilizing the Korean market, we will open up the international market.

Kim also mentioned that Korea's fast fashion market is currently growing at a rate of 7%. "The whole Korean fast fashion market will exceed 3 trillion won this year, equivalent to about 2 billion 760 million of the US dollar."

8 the first hair weaving of Korea, which is Seconds, is a direct enterprise of Korea Samsung Corp. Founded in 1954, it was mainly engaged in the production and operation of textile and garment products, and later expanded to the production and sale of high-tech materials.

Samsung has high hopes for "8 Seconds".

As the largest enterprise in Korea, Samsung has been involved in textile, finance, insurance, machinery, chemical industry and other fields besides electronic products.

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The US apparel retail giant GAP announced that the company has already worked with Zalando, Europe's largest clothing accessories supplier, to sell its clothing brands such as GAP and Old navy from May next year, hoping to expand its expansion in Europe with the help of e-commerce.

As early as 2007, GAP tested online sales, and online sales account for more than 10% of total sales.

These "new" drivers are the decline of performance.

In the third quarter, Gap brand sales in the same store showed a 5% decline, while Old Navy recorded only 1% growth, while Banana Republic sales remained flat, but they had been stagnant for 7 consecutive quarters.

In fact, the weakness of GAP began to appear ten years ago. In 2004, its sales volume was $15 billion 900 million, and by 2012 its sales volume was only $15 billion 700 million.

While H&M, Zara and other fast fashion brands are competing for their target customers and market share in the US market, Gap's dominance in the industry has been greatly affected.

The group's predecessor, CEO Gleen Murphy, implemented a radical reform in order to revitalize its business, but the effect was not obvious.

Murphy announced its resignation in October.

Before the group's new CEO Art Peck was mainly responsible for e-commerce, he saw the explosive force of online channels, so the emerging market as a breakthrough point.

In October this year, the number of GAP brand shops that had entered China for four years reached 100, and 10 new outlets will be opened by the end of this year.

After landing in Shanghai in March of this year, Old Navy recently extended its tentacles to Shenzhen, Guangzhou and Beijing.

However, compared with H&M and ZARA, the total number of GAP brands in China is still at the bottom.