Textile And Garment Industry Is Very Turbulent.

In the environment of low consumption, even Giordano, a big clothing dealer, can hardly avoid the fate of closing stores.

In November 5th, the company announced the three quarter that the company closed 74 retail stores in the third quarter, including 63 in mainland China.

At the same time, the company also said that from the third quarter of last year to the third quarter of this year, in the past 12 months, the number of stores closed in the mainland of China was 165, of which 41 were self owned shops and 124 were franchised stores.

The company said 17 closed stores in the third quarter of this year reflect the company's ongoing efforts to close its losses and poor image shops.

Giordano three quarterly report

In the third quarter of 2014, sales decreased from HK $1 billion 333 million to HK $1 billion 283 million in the same period last year.

Gross profit also declined at the same time, with a gross profit of HK $743 million in the third quarter, down 7% from the same period last year.

In fact, after the sports brand launched a large-scale customs shop, men's clothing enterprises also launched a large-scale customs shop.

According to statistics, in the first half of this year, there were 347 stores in the seven wolves, 73 in the nine Mu Wang Guan shops, 53 in Guan Nu Di Lu Guan Guan and 46 in Hinur Guan Guan.

In men's clothing companies, the seven wolf stores are the most.

Last year, seven wolves closed altogether 505 stores.

In the first half of this year, seven wolves closed stores (including franchised stores and direct stores), reaching 347.

After the men's clothing business is closed, women's clothing enterprises are also having a bad time.

The agate clothing retail group, which owns its brand, released its performance bulletin in the middle of the first half of this year. The company achieved operating income of 598 million euros, down 1.6% compared to the same period last year.

The company said that in the first half of this year, IgG has closed 88 stores in the Chinese market, and its performance is on the decline.

Leisure brand is also difficult to escape the fate of the shop.

Leisure brand Metersbonwe 2013 annual report shows that the company has nearly 5000 direct and franchise stores in the country, a decrease of more than 200 compared to 2012.

And up to

JEANSWEST has reduced 253 stores in mainland China, including 194 outlets.

According to the results released by Baleno, the parent of Baleno leisure brand, as of the end of March 2014, the number of outlets in the mainland market was as high as 388, accounting for 10% of the total number of stores.

Under the double-sided attack of the electricity supplier and the international fast fashion brand, the original price advantage of the mass leisure brand is vanishing, and the casual clothing brands such as Baleno, Mei bang, Semir and YISHION, which have been highly sought after by the 80's, have been marginalized.

Insiders pointed out that leisure brands were suppressed by international fast fashion brands because they could not catch up with the update speed of new products of international brands.

If they do not make changes, these brands will be hard to resist the fate of disappearing from the market in 5 to 10 years.