New Strategy For Old Navy To Enter Wuhan'S New Store Layout

Since Old Navy opened its first store in Shanghai in March 2014, the brand has opened 7 Old Navy stores in China in the last fiscal year. Due to the outstanding performance of Old Navy and the low performance of Gap Inc.'s brand name Gap, Old Navy has become the flagship brand of the first fast fashion group in the United States.

　　 Gap Inc. (GPS), the cheap brand Old Navy Old Navy of Cape group, continues to expand its market in China. The brand said on Wednesday that it will open a new store in Wuhan on the 30 th of this month, which is located in Wuhan, IKEA. Shopping Mall , Wuhan It will become the sixth city of Old Navy in China and its first store in Central China.

In its annual report at the end of January, the group said that in the 2015 fiscal year, the Gap Inc. group has increased 115 direct outlets and 35 franchise stores. The core of the Asia Pacific region, which accounts for 9% of the total revenue, is still the focus. The area of 1700 square meters of Old Navy Wuhan store is still the main concept of family shopping, will sell brand all men and women's clothing, children's clothing spring and summer new products.

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The top brands such as Chanel, Paris and Burberry (Burberry) appeared in the Chengdu international financial centre (IFS) of the Kowloon warehouse group. In December 12th last year, Muir chose its flagship store in the ocean. Back in 2013, H&M headquarters celebrated its 3000th retail outlets around the world. The store is located in Chengdu. In the 18 months after the celebration, the number of H&M shops in Chengdu doubled.

The designer moved the whole tree into the store without the flagship store in the world.

Retro furniture can only be seen in flagship stores in Muji world.

Why did the big brands love Chengdu so much? Reporters once wrote a long report to Chengdu's senior shopping center. It is mentioned in the report that Chengdu is the most important city in Southwest China. It forms a big triangle with Beijing and Shanghai. This triangle covers most parts of China and meets the needs of the surrounding customers. In addition, according to the 2013 survey report on the international famous brands entering Chengdu, 40% of Chengdu's luxury goods were sold to foreigners. The two tier markets in Sichuan's neighboring provinces and provinces account for 20% of Chengdu's luxury consumption. Chengdu radiates the western region of China. For many luxury brands, the market can not be missed.

Apart from geographical factors, another important factor is the market and purchasing power.

60% of luxury goods are bought by local consumers in Chengdu, which shows the purchasing power of Chengdu's locals. "In Chengdu, 80%-90% consumers buy luxury goods for their own use, unlike many people who buy luxury goods for gifts." In an interview with the media, Professor Hua Haiyan, vice president of Chengdu University of Technology business school, said.

The Businessoffashion website quoted data from a Hurun Research Institute. In 2013, the data roughly estimated that 26000 people in Chengdu had more than 6 million yuan of property, and the "billionaire" (more than 100 million yuan in property) was more than 930. This depends on the rapid economic growth of Chengdu in the past 10 years. According to the data of Brookings Institution, Chengdu's GDP in 2014 was 8.1%, which was higher than most of the country. The report also ranked Chengdu in the sixteenth place in the best performing City City, which is much higher than Beijing (sixty-seventh) and Shanghai (ninety-second). According to the first quarter report of Cushman & Wakefield, the new shopping center in Chengdu will exceed 1 million 500 thousand square meters in 2015. In the first two months of this year, the total retail sales in Chengdu amounted to 75 billion 600 million yuan, an increase of 10.5% over the same period last year.

Another reason is the idle lifestyle of Chengdu people and the pursuit of fashion. "Eating Sichuan and playing comfortable" is very important for the people of Taiwan. Their taste in fashion is also relatively stable. Oxford Economics of University of Oxford has long been tracking the economic data of 750 cities in the world. Chengdu ranks seventy-first in the world in terms of clothing consumption. The agency predicts that by 2030, Chengdu's ranking will rise to 28, and the annual output value of garment industry is expected to rise to 10 billion 200 million yuan.