Development Status And Market Prospect Of Chinese Suit Industry

Western-style clothes, also known as "Western-style clothes", are relative to Chinese clothing. In a broad sense, they generally refer to the clothes worn by Westerners. In a narrow sense, they refer to men's suits. The modern men's suit originated in Britain in the nineteenth Century. As a symbol of gentlemen's identity, with the rise of the two industrial revolution, the concept of batch and standardized clothing came into being. The handmade men's suit on behalf of gentlemanly manners has been touted. So far, the overall development of Western-style clothes is at a stable stage, and the women's suits have been born and become popular gradually.

1. In the first three quarters of 2019, the output of our suit suits exceeded 450 million.

In recent years, the output of Western clothing industry is in a state of fluctuating decline, and the compound annual growth rate is about 1% in 8 years. According to the National Bureau of statistics, in 2018, the apparel industry above designated size enterprises completed 22 billion 274 million garment production, down 3.37% compared with the same period last year, and the garment industry contracted slightly. Looking ahead, the Western garment industry produced more than 560 million suits and suits in 2018, down from last year. Mainly due to the increasing demand for Western-style clothes, and the decline of mass production scale. In 2019 1-9, garment enterprises above Designated Size completed 18 billion 300 million garment production and prospectively calculated. In the first three quarters of 2019, our Western clothing industry produced more than 450 million suits and suits.

Two, exports are greater than imports, and Western clothing industry has a larger trade surplus.

From the total import and export volume of Western clothing in the past 2014-2018 years, the overall fluctuation has changed. The total import and export volume in 2014 was US $5 billion 2 million, the largest in recent years, and a significant decrease in 2015. The 2013-2017 years showed a general trend of growth. In 2018, the total import and export volume of our Western clothing reached US $4 billion 591 million, achieving a trade surplus of US $3 billion 985 million.

Three, the ten big brands in western suit industry have strong development and fierce competition.

There are obvious "28 effects" in the western-style industry. At present, the advanced custom garments mainly come from luxury brands or exquisite tailored shops. There are tens of thousands of custom-made garments in luxury or high-end tailoring shops, which account for the majority of sales in the industry.

In 2019, the ten brands of Chinese suit industry were: YOUNGOR, lords, Goldlion, Pierre Cardin, conch, Heng Yuan Xiang, Kai Kai, Shan Shan, Luo Meng, and red bean. From the latest development trends of the following brands, we can see that the competition of the major suit brands is fierce.

Four, third industry employment growth to stimulate demand growth

The third industry, which is the main service industry, is the main driving force for the growth of Western clothing market. In recent years, with the development of the third industry, the number of employed personnel in the third industry has been increasing year by year. In 2018, the number of employed personnel in third industries in China reached 359 million 378 thousand, an increase of 10 million 658 thousand in 2017 compared with that in 2017.

Five, the expansion of university graduates to promote market demand.

In recent years, the popularization rate of higher education in China has been continuously improved, and domestic higher education has entered a period of rapid development. The number of people with higher educational background has been expanding. This group of people pays more attention to dress style and professional quality when they apply for jobs, and to a certain extent, expand the size of the target customers in the Western clothing market. According to the Ministry of education data, the number of graduates of the 2019 national colleges and universities reached 8 million 340 thousand, an increase of 140 thousand compared with 2018, and the number of the graduates has reached a new high.