Lord Buddha Returns To Beijing 15 Years Later

It is reported that many people are used to "traveling to France". The Buddha The shopping mall, which was born in 1893, has become the epitome and source of Paris's fashion culture.

Such a famous "Buddha" lost Beijing 15 years ago and withdrew from the Chinese market. Now, 15 years after leaving China, Lord Buddha returned to Xidan at the end of September this year, and settled down in the business circle.

Such as Parkson, Pacific, Lian koff, Messi, these foreign department stores are optimistic about the Chinese market, but they are often not convinced. For example, the Pacific department store completely withdrew from the Chinese market in May this year. So what's the difference between this time and the 15 years ago? Did foreign department stores find the way to operate Chinese market?

In 15 years, the young girl became a young woman, but the old Buddha was still the old Buddha. The store in Xidan, Beijing, has 6 floors, from B1 to 5 storefront, from cosmetics to cosmetics. clothing There are no differences between restaurants and other shopping malls. In addition to BV, FENDI and other big names coming from the front door, we can see the price tag for the salaried class on the 2 floor. For the two foreign Buddhist monks who come to Beijing, the aesthetic tastes of consumers are different.

Miss Chen: I think this shopping mall is still good. The overall feeling is that the front is a little bit more fashionable. In the whole Xidan business district, I think it is quite high in fashion.

Mr. Zhuang: I think BV and FENDI belong to the first-rate brand in France. At least in the LV of the French town store, there should be a shop. But there is no such thing. The whole business district of Xidan is targeting young people and students.

Compared to other shopping malls in Xidan, such as Yue Yue, Jun Tai, Han Guang, etc., the card of "differentiation" is clear, and more than 200 European high-end brands in Paris have entered China for the first time by old Buddha. Who will buy and sell? Who is the most important question? Laurent Chemla, the chief executive of Lafayette department store, is passing around Tai Chi.

Shen Lang: I think this is the beauty of fashion. Without age and income restriction, all of us who love fashion and fashion are welcome to our shopping malls.

"Fashion" rather than "luxury", this is the position repeatedly emphasized by Lord Buddha. According to old Buddha's self description, the Beijing Store aims at "light luxury", between luxury and civilian consumption. In fact, this is not a Beijing shop patent. Miss Xu, who has lived in France for many years, tells us that in France, old Buddha is not a luxury store that many people recognize.

Miss Xu: Chinese tourists talk about "old Buddha" is the Paris home, but in fact it is in more than 50 large and medium-sized cities in France. Its positioning is not good enough to tell you that it is high-end or middle end. It is based on the consumption level of each city to introduce some brands of the old Buddha in this city. For example, there are definitely the best brands in old Buddha in Paris. In some medium-sized cities, the size of Buddha is not so large. Universal standards may be like Parkson in Shanghai.

Compared with others Department store Shops, especially in foreign markets, have no advantage in price. This is also the common fault of foreign department store with foreign brands coming to China. {page_break}

Miss Xu: I bought a coat before. The original price may be 200 euro. I bought it in 50 Europe. The same coat I saw in Shanghai was more than 3000 yuan, and it was only second years before I saw it.

15 years from Baisheng and the Pacific to Lian koff, some people came out of the market in a dark way.

In addition to old Buddha, Hongkong luxury department store will continue to open the largest flagship store in the Times Square in Shanghai, and launch the delivery and return service under the online order line. Messi, the US retail giant, will also visit the Xujiahui Business District of Shanghai. The 100 year old brand of Martha, which opened second flagship stores last year, launched its official flagship store in Tmall. At the same time, the Pacific and Parkson, which are foreign department stores, are in a difficult fate. Parkson, the first foreign investment company, encountered Waterloo. After its first net profit decline in the past eight years last year, the annual performance of Parkson was still unchanged. As of June 30th, the group's net profit fell by 38%. Pacific department store is in a more precarious situation. In May this year, it has been renamed the Far East department store, which means that the Pacific department store will disappear completely from the market.

The reasons for the success of foreign department stores in China are different. The reasons for choosing China are similar: huge market and strong demand. Philip Jose, chairman of the board of directors of department store, Philippe Houze.

Philip Jose: the reason why we are here is that we come back to China because we believe in the potential of the Chinese market. We believe that Chinese consumers are fond of fashion and are willing to find fashion in our shopping malls. Our location is excellent. We choose Xidan because it is the hottest landmark in Beijing.

Compared with the brand name list of Paris shop and Beijing store, only two or three of them coincide. Obviously, the old Buddha's group has long known Xidan's "fashionable" rather than "prosperous" consumer groups.

Philip Jose: We studied the Chinese market, consumers and consumers in Xidan. We think they do not come to our store to seek luxury consumption. They come to buy fashion. To succeed in the Chinese market, we must first adapt to local consumption habits and study the consumption psychology of locals. If we can open a shop in Chengdu or Shanghai, we will also design other types of Buddha.

Localization, for 15 years of painful memories of the Buddha, these three words are expensive experience. It is a compulsory course for all department stores to discuss "adaptation" rather than foreign department stores in the increasingly saturated Chinese market.