Clothing And Footwear in Hong Kong, China
Euromonitor International's Clothing And Footwear in Hong Kong, China market report offers a comprehensive guide to the size and shape of the market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market - be they new product developments, packaging innovations, economic/lifestyle influences, distribution or pricing issues. Forecasts illustrate how the market is set to change.
Get immediate access to strategic market analysis when you buy reports online
Tables: 16 | Publication date: Sep 2005
Why buy this report
- Get insight into trends in market performance
- Pinpoint growth sectors and identify factors driving change
- Identify market and brand leaders and understand the competitive environment
Product coverage
Clothing; Footwear
Executive summary
Economic pressure and outbreak of SARS affected retail sales
The unstable economic environment over the review period and the outbreak of SARS in 2003 negatively impacted retail sales of clothing and footwear. Consumer purchasing patterns have been cautious. Retail prices declined drastically due to frequent and heavy price promotions to stimulate sales and clear inventory.
Mainlanders help boost retail sales
However, tourists from mainland China have become a key source of revenue for luxury fashion retailers. This is due to the availability of cheaper luxury brands in Hong Kong which are not liable for sales or import taxes, and which provide a guarantee of authenticity. In 2003, after the end of the SARS outbreak, the government initiated the Individual Visit Scheme, which lifted many restrictions of inbound travel from China and further stimulated mainland tourist visits and spending. Consequently, value sales of clothing and footwear quickly rebounded with growth of 9% in 2004 in comparison to the decline of 7% in 2003.
Consumers distinctly brand-conscious and aware of trends
Hong Kong fashion culture is marked by high levels of brand awareness and willingness to follow trends. The industry is very much influenced by Europe, Japan and the US. Young consumers are highly brand and style conscious. However, although they comprise a sizeable consumer base, they are difficult to attract due to lack of brand loyalty. Trends have a very short lifecycle which are heavily influenced by the media as well as celebrities and pop idols.
Multi-brand retail concept versus freestanding stores
Although few multi-brand retail chains continue to hold a strong position, (Joyce, I.T and Lane Crawford, etc), there is a growing trend towards the freestanding store format, such as Camper and FCUK. Two such examples include I.T and Esprit de Corp which are two locally-based and successful fashion retailers in Hong Kong.
2005 enjoys strong growth but a moderate uptrend for 2006 and beyond
The forecast is optimistic for the industry in 2005. This is partly due to the recovering economy and partly because of the anticipated continued strong tourist spending. Industry players also expect to witness the emergence of a larger number of local and south-east Asian brands.
Table of contents
CLOTHING AND FOOTWEAR IN HONG KONG, CHINA : MARKET INSIGHT
EXECUTIVE SUMMARY
CLOTHING AND FOOTWEAR
Market Performance
Table 1 Retail Sales of Clothing and Footwear: Value 1999-2004
Table 2 Retail Sales of Clothing and Footwear: % Value Growth 1999-2004
FORECAST MARKET PERFORMANCE
Table 3 Forecast Retail Sales of Clothing and Footwear: Value 2004-2009
Table 4 Forecast Retail Sales of Clothing and Footwear: % Value Growth 2004-2009
DEFINITIONS
CLOTHING IN HONG KONG, CHINA
SECTOR PERFORMANCE
Dressing down as a trend
Underwear and nightwear remains strong despite the economic downturn
Knitwear shrinks due to the weather
Table 5 Retail Sales of Clothing: Value 1999-2004
Table 6 Retail Sales of Clothing: % Value Growth 1999-2004
Table 7 Weather Summary – Winter 1998 Rolling to Winter 2003
LEADING COMPANY PROFILES
Esprit de Corp
Table 8 Retail Turnover Summary – Esprit de Corp (Hong Kong)
I.T
RETAIL DISTRIBUTION
Shift in retail pattern creates space for fashion chains
Fashion boutiques become more fashionable
Table 9 Retail Sales of Clothing by Distribution Format: % Analysis 1998/2003
Summary 1 Summary - Retail Sales Channels
FOOTWEAR IN HONG KONG, CHINA
SECTOR PERFORMANCE
Growing demand for designer footwear
Sports shoes became a fashion and lifestyle trend
Table 10 Retail Sales of Footwear: Value 1999-2004
Table 11 Retail Sales of Footwear: % Value Growth 1999-2004
LEADING COMPANY PROFILES
Yue Yuen Industrial (Holdings) Ltd
Table 12 Retail Turnover Summary – Yue Yuen Industrial (Holdings) Ltd
Table 13 Product Subsectors – Yue Yuen 2001-2003
RETAIL DISTRIBUTION
Independent retail stores losing business to larger retailers
Multi-brand carriers capture sales of branded footwear
Table 14 Retail Sales of Footwear by Distribution Format: % Analysis 1998/2003
Summary 2 Summary - Retail Footwear Channels