High End Underwear Has A Market In China. Many Brands Have Spotted This "Fat Meat".

Another two high-end underwear brands have opened new stores in Hongkong.

Last month, London's underwear brand Agent Provocateur opened a new store in Hongkong.

Prior to this, the brand created by the Empress Dowager Vivienne Westwood's son Joseph Corre in 1994 has two franchise points in Hongkong, and there are 7 entity stores in China.

Founded in 1954, Italy La Perla has also opened fourteenth stores in Hongkong and Mainland China.

Now the brand is famous for selling sexy underwear, including beaches, stockings, dresses, evening gowns and high heels and perfume.

According to data released by RTG Consulting, a luxury consultancy, last year, China's underwear market had an estimated sales volume of US $20 billion, which is expected to increase by 18% yuan this year.

It accounts for 1/3 of total sales.

Both Agent Provocateur and La Perla indicate that they see strong consumer demand in Asia.

La Perla can be considered as a return to the Chinese market.

In the 1992 year of the year, the brand had entered the mainland with its cooperation with the Beijing group, and opened stores in Beijing, Shanghai, Guangzhou and Dalian. At that time, the product design failed to take care of the shape of consumers in Europe and Asia, and finally had to gradually withdraw from the Chinese market.

Chiara Scaglia, general manager of La Perla, said that sales in Asia now account for 15% of its total sales.

Compared with the same period last year, sales in Asia increased by 40%, exceeding 30% of the global sales growth.

But the brand does not plan to open more new stores, but plans to increase sales in the same store.

"The old shops are doing well."

Chiara Scaglia said, "in Asia, our customers like our underwear products very much."

This category accounts for about 30% of sales in Asia.

"We have also brought some new products to the Chinese market."

Consulting company

Matthew Crabbe, an Asia Pacific researcher, said underwear manufacturers still have room for improvement in China, including two channels, namely, e-commerce and physical stores.

"China's advanced underwear market is growing strongly.

It is mainly because Chinese people's per capita income is increasing, which makes more consumers want to buy products of high quality and higher price.

Matthew Crabbe said, "there are also many Chinese consumers buying overseas directly through the sea.

Products, and even do not need these brands to open stores in China, and Chinese tourists to travel abroad will also rush to these brands in foreign stores. "

Garry Hogarth, chief executive of Agent Provocateur, said its sales in Beijing recently increased by 30%.

In January 19th of this year, the Agent Provocateur store in Beijing opened in Xidan's old Buddha's department store in Beijing.

Garry Hogarth said the brand is building its own Chinese consumer groups through e-commerce channels and physical stores.

"We didn't expect much.

But now we are surprised to see how good the market is. "

Garry Hogarth, "there are many large lingerie bought by Chinese people.

They seem to be very open, like funny underwear, maybe they want to buy before, but no brand can meet these needs. "

In March of this fiscal year, Agent Provocateur's global sales volume was about $107 million.

By the end of March next year, it is estimated that global sales will reach 1.22 billion US dollars.

Its sales in Asia and Australia account for 10 - 12% of total sales, and why Agent Provocateur plans to add 20 new stores in the two regions in the next 2 to 3 years.