The current situation and development of Chinese street fashion brands

 

#Christine Tsui Fashion Community Group Discussion#

The current situation and development of Chinese street fashion brands

 

Date:05/05/2018

Time: 8pm to 10pm

Host by Qiuyu-Shanghai-AGL Jiaxi-Beijing-AGL

 

 The outline of discussion:

 

1. The definition of Chinese street fashion brands

2. The early Chinese street fashion brands

3. The rising Chinese street fashion brands

4. Conclusion

 

 

FOREWORD

In recent years, Chinese street fashion brands have become the consumption hotspots indirectly caused by the following reasons.

  1. The preference of the younger generation is quickly changing
  2. Cultural communication between the international community has been more frequently.
  3. The influence of KOLs is boosting.
  4. The variety of shows such as “Hip-hop in China” and “This is Street Dance” are promoting street culture.

During the Shanghai Fashion Week, the market research company Nielsen and OFashion released the world’s first big data research on street fashion brands and users analysis report. The data shows that the growth rate of street fashion brands consumption is 3.7 times than that of normal fashion brands. Post-90s and Post-95s are the main consumers. The proportion of Post-95s of the street fashion brands consumers has gradually climbed to 25%. Among them, the top 10% of the ashes users accounted for 60% to 80% of the total personal expenditure, accounting for 48% of the whole street fashion brands market.

At present, the potential market of street fashion brands has been paid more attention by people. The mining and development of local street culture has gradually become a commercial hot spot. Guan Jian, the person in charge of Tmall, mentioned in an interview that the program “This! is Street Dance” has been planned two years ago. The idea of this program came from the result of Ali Big Data on consumer insight. In the past three years, the sales volume of street fashion brands on Tmall has increased to 106% times of before. The data has already shown the shopping trend. Obviously, street fashion brands are the next hot spots.

This discussion would discuss the current situation and future development of the Chinese street fashion brands. At the same time, I would like to learn the evaluation and suggestions on the development of Chinese street fashion brands from all of you.

PART ONE The definition of Chinese street fashion brands

 

I have not found a clear definition of “Chinese Street Fashion” in authoritative materials, but I have compiled a more directional concept from most media articles and reports, which is namely: “Chinese Street Fashion” can be said to be “the street fashion brands of China”. They have their own design, and promotes designers’ unique ideological character, style and life attitude.

CLOT is the earliest independent designer brand that we can think of. It was founded in June 2003 by Hong Kong famous artist Edison Chen. In 2009, Li Chen and Pan Yibo collaborated in the street fashion brand, NPC.

From 2011 to 2014, many brands with the banner of “Chinese street fashion” entered into the market with lack of industry norms and related standards. The design and originality of “Chinese street fashion” has become a topic of discussion. Although the Chinese street fashion brands have been developing in recent years, the demands from the younger generation has increased. Due to the inequality of regional resources, JUCIE, DOE and other domestic and offline well-known entities are almost in the market. In 2017, the turnover of the online Chinese street fashion stores in the Double Eleven Taobao Festival reached nearly 400 million RMB.

 

PART TWO The early Chinese street fashion brands

 

According to YOHO!’s consumer portraits, the group of 18-22 years old accounted for 51%. As Chen Anqi claims, these people having money and being able to contribute to sales traffic, will make Chinese street fashion to be very popular. However, the taste of young people is always changing. The “Chinese street fashion” is a market with extremely fast development and changes. If the brand is unable to build strong relationships and viscosities with consumers, there is no guarantee of continued profitability.

PART THREE The rising Chinese street fashion brands

 

The younger generation of consumers who have grown up with the prevalence of consumerism are even more eager to “live in the moment and be happy in time.” They pursue recognition, pursuit of interesting ideas and original designs. Nowadays, the tier categories of Chinese street fashion brands are becoming more and more obvious. In addition to CLOT, PHANTACI, NPC, ANB BRAND, ATTEMPT, FMACM, RANDOMEVENT are also popular in the first tier. MISTER UNINVITED, COC CUBE and 714 STREET, WASSUP are the representatives of the mass market brands with affordable price.

 

PART FOUR Conclusion

From the perspective of the market: from 2012 to 2016, the growth rate of global apparel consumption is about 3% to 4%, while the growth rate of fashion brands is around 25%. China’s GDP accounts for 15% of the world. However, the consumption of China’s fashion brands account for only 2% to 3% of the world. Therefore, it can be found that regardless of the growth rate or the proportion of consumption, the Chinese street fashion brand is still a huge market.

Although the market is fast developing, the public is pursuing the speed of output and consumption. I believe that brand is not a tool to make money, but a carrier of personal expression. Consumers and brands need to infiltrate and influence each other. The products and culture behind them are the core competence of brand development. Consumers need to give time for Chinese street fashion brands to grow up. At the same time, the Chinese street fashion brands also needs to down-to-earth to make products with conscience. At present, there are still differences in regional development of Chinese street fashion brands. We are looking forward to the well-developed Chinese street culture in the future.

 

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