Financial Tsunami Hits Fashion Industry 80% Designer North View Shenzhou

The financial tsunami has taken the brunt of the retail industry. Recently, the U-right liquidation incident has greatly affected the confidence of the apparel industry.

According to the Hongkong Trade Development Council survey, more than 70% of Hongkong fashion designers are interested in creating their own brands in the next three years to raise gross margins. At the same time, more than 80% of the respondents believe that there are huge business opportunities for clothing design, brand management and other services for the Chinese mainland market.

These intentions may serve as a reference for Hongkong's garment industry to find a new path in its predicament.

The clothing store in Hongkong is expensive, costly, and the competition is fierce. In addition, the recent financial crisis has greatly reduced the willingness to consume and affect the bank's capital supply.

For designers who want to develop their personal brands, it is difficult to find material suppliers who accept small orders, develop individual retail sales networks, and develop funds for brands.

In the second quarter of this year, the Hongkong Trade Development Council visited 140 Hongkong fashion designers and garment manufacturers to explore the development prospects of Hongkong fashion design service industry.

More than 70% of respondents are willing to create their own brands in the next three years, enhance their value chains and gross margins, and strive for diversified development.