时间：2022-09-21 09:44:07
As the Chinese retail space becomes increasingly crowded, mid-range foreign retailers have moved to differentiate themselves. Zara and H&M compete for middle-class consumers who are looking for fashionable clothing, while H&M, Uniqlo and Gap appeal to shoppers who are more price conscious, said Mariana Kou, a retail analyst at CLSA. These are the same tactics that these retailers use elsewhere, and they work equally well in China.
“If you look at Shanghai, like Nanjing [West Road], we can easily imagine a Uniqlo, H&M and Zara store next to each other and[each of] them making a profit,” said Takahiro Kazahaya, a retail analyst at Deustche Bank. As these stores grow in China, they may steal business from cheaper domestic retailers as increasingly wealthy and sophisticated Chinese consumers “trade up.” Here is how some of China’s largest mass-premium retail brands stock up:
H&M (Hennes and Mauritz; HMB. STO)
Headquarters: Stockholm, Sweden
Date entered China: 2007
China stores: 82
China sales: US$539 million (fiscal 2011)
Niche: H&M’s fashion-oriented clothes are less expensive and lower quality than Zara. The brand is generally 6-12 months behind runway trends.
Performance: The company has virtually doubled its stores in China every year since entering. Sales in 2011 were up an impressive 42% compared to 2010.
Zara (Inditex Group; ITX.MC)
Headquarters: Arteixo, Spain
Date entered China: 2006
China stores: 91
China sales: US$513 million (2010 analyst estimates)
Niche: The company’s clothes are higher quality than H&M and priced at the upper end of the “fast fashion” tier. Zara tracks fashion trends with a delay of as little as two weeks.
Performance: Zara has expanded its number of stores by a similar rate to H&M. The company doesn’t disclose China-specific data, but one analyst estimated that sales per square meter in China are roughly equivalent of those abroad.
Uniqlo (Fast Retailing; 9983.TYO)
Headquarters: Tokyo, Japan
Date entered China: 2002
China stores: 113
China sales: US$428 million (2011 analyst estimate)
Niche: Uniqlo concentrates on low-cost, high-quality basics that do not closely follow fashion trends.
Performance: Same-store sales growth in China was in the double digits in the first fiscal quarter of 2012, according to an analyst. Uniqlo’s lower price point means it will likely be able to launch more stores in China than H&M or Zara.
Gap (The Gap; GPS.NYSE)
Headquarters: San Francisco, USA
Date entered China: 2010
China stores: 15
China sales: Undisclosed
Niche: Gap produces higher than average quality clothes and has a more uniform style that does not follow fashion trends as closely as H&M and Zara. Gap is hoping to carve out a niche as the go-to foreign retailer for denim jeans in China.
Performance: The chain retailer entered China later than H&M and Zara so has relatively few stores by comparison. China is a rare bright spot for the company: Gap plans to triple its stores in China this year even as it closes down nearly 200 US stores by 2013.
Metersbonwe (002269.SZ)
Headquarters: Shanghai, China
Date of founding: 1995
China stores: 4,582
China sales: US$1.19 billion (fiscal 2010)
Niche: This Chinese brand has a foreign-sounding name and cheaper, less fashion-oriented clothing than H&M, Zara or Gap.
Performance: Metersbonwe is China’s largest casual clothing company. It is now ranked the 10th most valuable global clothing brand, achieved with no international expansion.
Li Ning (2331.HKG)
Headquarters: Beijing, China
Date of founding: 1989
China stores: 2,173
China sales: US$1.51 billion (fiscal 2010)
Niche: The sportswear brand has recently rebranded itself and raised prices in a bid to recapture higher-end market share from Nike and Adidas.
Performance: Li Ning gave a negative performance forecast for 2011, stating the company’s revenues were expected to decrease 6-7% from 2010. The company also recently announced layoffs, likely due to the saturation of China’s sportswear market.