Chinese And Foreign Brands Compete For High-End Female Underwear Market

High end women

The sales situation is better than China's overall decline in the luxury market, exacerbating the international market.

Facing high-end with local rivals

Competition.

Global market research firm Ying Mint said that the US brand Victoria'sSecret will open its first store in China, including some high-end underwear brands including Italy's top luxury brands LaPerla and Germany Triumph, which are increasing stores in China and expanding beyond the mega cities to open up the market that has doubled to US $18 billion over the past 5 years.

Chinese consumers are becoming more sophisticated.

Women are now more confident in buying things for themselves. Beijing has launched an anti - flaunt consumer movement, which seems to be shifting money from Chinese luxury handbags and accessories to sports and leisure equipment and more intimate underwear.

"(now in China) luxury is no longer something to buy, but to make you feel good," says LaPerla's Asia chief.

The consultancy predicts that the Chinese women's underwear market is expected to have a retail value of US $25 billion next year - two times that of the United States and 33 billion US dollars by 2020.

In addition to multinational companies, local underwear companies such as love, Manifen and so on, are also chasing this big money, aiming at more high-end customers, and constantly improving the quality of products.

"This means that those foreign brands must be better at competing with local brands, not only in terms of quality but also in innovation," said Kleib, director of British mint.

In view of the gloomy prospect of the global market, those international brands have regarded China as the first choice to help boost overseas sales.

Insiders say that many Chinese people wondered why they spent so much money on underwear that nobody could see.

Nowadays, the concept of underwear has changed in China.

Gao Qiannan, 22, said she spent more than 1500 yuan on underwear every year, and didn't think there was much difference between foreign brands and Chinese brands. "If I could buy a domestic brand, I would buy it.

But if I like the style of a foreign brand, I will buy it. "