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Epidemic hits the bleak outlook for the French apparel industry

Epidemic hits the bleak outlook for the French apparel industry

  • Categories:NEWS
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  • Time of issue:2021-05-10
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(Summary description)Summer discounts in France ended dismal. A series of factors such as online shopping, competition from cheap brands, and low consumer desire to buy have caused clothing chains to sink deeper and deeper in the epidemic and the accompanying economic crisis. Camaeu, Le Hall, André, Naf Naf... One after another familiar brand stores filed for bankruptcy. Experts predict that the size of the French clothing industry market will shrink by nearly one-fifth this year, and it will be difficult to return to the level before the epidemic in two or three years.

Epidemic hits the bleak outlook for the French apparel industry

(Summary description)Summer discounts in France ended dismal. A series of factors such as online shopping, competition from cheap brands, and low consumer desire to buy have caused clothing chains to sink deeper and deeper in the epidemic and the accompanying economic crisis. Camaeu, Le Hall, André, Naf Naf... One after another familiar brand stores filed for bankruptcy. Experts predict that the size of the French clothing industry market will shrink by nearly one-fifth this year, and it will be difficult to return to the level before the epidemic in two or three years.

  • Categories:NEWS
  • Author:
  • Origin:
  • Time of issue:2021-05-10
  • Views:0
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Summer discounts in France ended dismal. A series of factors such as online shopping, competition from cheap brands, and low consumer desire to buy have caused clothing chains to sink deeper and deeper in the epidemic and the accompanying economic crisis. Camaeu, Le Hall, André, Naf Naf... One after another familiar brand stores filed for bankruptcy. Experts predict that the size of the French clothing industry market will shrink by nearly one-fifth this year, and it will be difficult to return to the level before the epidemic in two or three years.

"Le Monde" reported on August 12 that in today's fashion capital Paris, you can see shop windows with "shop transfers" everywhere. The Gap store on the Champs Elysées closed in January and has yet to find a next home willing to take over. The Italian brand Napapijri store on Rue de Rennes on Paris’s left bank has been closed. The opposite shop has been vacant, and André next to it is also the gate. Locked...Fashion shops in central Paris also closed one after another.

Rodolphe Deveaux, president of Armand Thiery Group, a century-old French ready-to-wear brand, predicted that more shops will close. "It's like a disaster."

Passenger traffic plummeted

During the ban, offline stores could not do business, and after the closure, their business activities were restricted by the epidemic prevention regulations. According to statistics from the French Fashion Industry Institute (IFM), apparel sales fell by 16% and 18.9% in May and June, respectively. Although discounts began in July, the traffic in the commercial center has been reduced by 16%.

In the commercial center, customers can only move in the same direction, and can no longer "wander around" in the store as they used to do. Even if they fancy clothes, it is difficult to find fitting rooms.

41% of Paris businesses surveyed by the French Chamber of Commerce and Industry (CCI) believe that these anti-epidemic measures are the reason for the decrease in passenger flow.

After Dvor conducted statistics on its 600 Armand Thiery stores across the country, it found that the passenger flow in the commercial center plummeted by 60%, and the stores in the city center lost 40% of the customers. Dewo estimates that the turnover of each store this year will be at least 30% lower than when it was discounted last summer.

The French Chamber of Commerce and Industry (CCI) conducted a survey of 300 merchants in Paris, and 79% of the merchants considered the results of the promotion "very disappointing."

Consumers' desire to buy has declined

In fact, consumers' desire to buy is not as good as before. Hélène Janicaud, director of research at Kantar, a marketing consultancy, said that many people find that they don’t need to buy new clothes after tidying up their wardrobes during the moratorium. Of course, the most important thing is that many people have to choose "partial unemployment" which leads to a decrease in income.

Online shopping, cheap brand competition

In addition, clothing chains are also facing competition from online shopping and cheap clothing brands. Contrary to the situation in stores, online sales of apparel products increased by 22% and 67% in April and May, respectively. There are also self-operated low-cost clothing brands such as Lidl in Germany, which are sold in 1,550 stores across France, occupying 2.5% of the national apparel market, which is twice that of the online platform Amazon.

Therefore, Armand Thiery President Devo is not optimistic about the prospects at all. He believes that "the future will only be more difficult." An economic analyst at Euler Hermes, a French financial and insurance company, predicts that the size of the apparel market will shrink by 19% this year, and there may be a “15% rebound” next year. We have to wait until 2023 soon."

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