post update

_posts/2024-07-17-A-BRIEF-HISTORY-OF-MEN’S-FASHION.md

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-Layout: post
-Title: A BRIEF HISTORY OF MEN’S FASHION
-Date: 2024-07-17
-Tags: MEN’S FASHION
-Comment: false
+layout: post
+title: A BRIEF HISTORY OF MEN’S FASHION
+date: 2024-07-17
+tags: MEN’S FASHION
+comment: false
 ---
 
 Menswear is steeped in history and tradition. Every person in menswear (designer, stylist, editor, etc) has taken inspiration from the past at one time or another. And no era has been overlooked.

_posts/2024-07-18-Everything You Should Know About VF Corporation's Sale of Supreme - Insights from Chinese Media.md

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-Layout: post
-Title: Everything You Should Know About VF Corporation's Sale of Supreme - Insights from Chinese Media
-Date: 2024-07-18
-Tags: FashionChina
-Comment: false
+layout: post
+title: Everything You Should Know About VF Corporation's Sale of Supreme, Insights from Chinese Media
+date: 2024-07-18
+tags: FashionChina
+comment: false
 ---
 
 ![Supreme is being bought by EssilorLuxottica](https://img.gugu.ovh/i/2024/07/18/130150.webp)

_posts/2024-07-19-How Should Brands Respond to the Surge of "Dupes" in China? A Look at Uniqlo's Strategy.md

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+---
+layout: post
+title: How Should Brands Respond to the Surge of "Dupes" in China? A Look at Uniqlo's Strategy.
+date: 2024-7-19
+tags: FashionChina
+comment: false
+---
+
+The recent third-quarter report from Fast Retailing Co. (covering the period from March 1, 2024, to May 31, 2024) indicates that Uniqlo's performance has shown positive growth in the Japanese market, as well as in North America, Europe, Southeast Asia, India, and Australia.
+
+In stark contrast to the aforementioned regions, the Greater China region, which is Uniqlo's largest overseas market, faced a decline in revenue and a significant drop in profits during the third quarter (March to May 2024). Revenue in Greater China grew only 4% year-on-year, a figure that is supported by substantial increases in both revenue and operating profit from the Taiwan market.
+
+A deeper analysis reveals that Fast Retailing Co. is experiencing a decline in revenue and a significant drop in operating profits in both mainland China and the Hong Kong market.
+
+Behind Uniqlo's revenue decline in the Chinese market is a shift in consumer mindset: shoppers are increasingly inclined to choose products that are nearly indistinguishable in quality from well-known brands but are offered at significantly lower prices.
+
+This consumer value, which is highly popular in the mainland Chinese market, is affectionately referred to on social media as "**Dupes**."
+
+## Why has the "Dupe" phenomenon gained widespread acceptance? 
+The fundamental reason is that the Chinese consumer market is currently experiencing a period of low consumer enthusiasm.
+
+According to data from the National Bureau of Statistics of China, the total retail sales of consumer goods reached 407.32 billion yuan in June 2024, marking a year-on-year increase of 2.0%. Excluding automobiles, retail sales of consumer goods amounted to 363.64 billion yuan, growing by 3.0%.
+
+In the categories of clothing, footwear, and textiles, retail sales in June were 12.37 billion yuan, representing a year-on-year decline of 1.9%.
+
+As consumer demand remains relatively weak, the market is shifting towards a low-price competition strategy, leading to intensified price competition among retailers. This dynamic is a key factor contributing to the popularity of "dupes" in the current Uniqlo market.
+
+## How is Uniqlo Responding to the Surge of "Dupes"?
+Uniqlo is adjusting its business strategy by shifting from Chain Store Management to Local Store Management.
+
+- **Store Opening Strategy: **The focus has shifted towards improving store quality rather than quantity. The brand plans to open 50-80 new stores annually while also phasing out or rebuilding approximately 50 existing locations. Uniqlo aims to renovate flagship stores in cities like Shanghai and Guangzhou, and plans to establish flagship locations in high-potential cities such as Chongqing, Chengdu, Tianjin, Xi’an, Kunming, and Zhengzhou.
+
+- **Channel Strategy: **There will be a deeper integration of physical stores and e-commerce. In addition to maintaining traditional e-commerce channels and key marketing periods like Singles’ Day and 618, the brand is actively expanding into live-stream sales. It intends to leverage platforms like WeChat, Douyin, and its own digital tools, aiming to increase e-commerce sales to 30% of total revenue. Furthermore, Uniqlo hopes to drive traffic between physical stores and e-commerce to enhance overall sales.
+
+- **Product Mix: **The brand plans to segment the mainland Chinese market into different regions based on climate, lifestyle, and culture, creating product assortments tailored to the characteristics of each area.