High Performance Sports Brand 2XU Enters The Chinese Market Ready To Participate In Double 11

High performance in Australia

2XU announced its entry into the Chinese market, plans to open 50 retail stores in the next three years, and is already preparing to participate in the timetable.

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The brand of the main compression clothing was created by the former Triathlon athlete Jamie Hunt in 2005. The so-called compression clothing, which is a very tight tights / pants, helps muscles during exercise to accelerate their warm-up and reduce pain. Its principle and many villagers who climb the mountain often have no two kinds of bandages on their feet.

It means Two Times You (two times you), which means that products can help athletes improve their performance more than two times. According to Jamie, 2XU is "the world's largest manufacturer of compressed garments".

At present, the brand has 26 and 34 retail outlets and thousands of distribution outlets both at home and abroad.

The reasons for entering the Chinese market seem obvious.

At the press conference held in Shanghai in November 4th, the brand cited some figures: the average annual growth rate of China's sports fitness industry since 2011 is 11.8%, which is expected to reach 280 billion yuan in 2020.

In September 1st, 2XU opened its flagship store in Tmall, and plans to open 15 stores next year. The first one will be in Shanghai.

Li Shujun, President of brand China, said that the reason why it started online is because "China is a very large country. It is very difficult to rely solely on physical stores. It is a good way to introduce our brand and product story through online."

In fact, after the introduction of AND1 and Anta to the Korean outdoor brand Kolon, 2XU is another foreign sports brand introduced by Chinese clothing companies.

At the press conference, 2XU invited nearly 200 Chinese local dealers, almost all of whom were GXG partners of menswear brand, and Li Shujun was the general manager of GXG in 2010. At that time, Tmall was also called Taobao mall.

In the Tmall flagship store, there has been a classification of China's limited edition and sports leisure.

The so-called restricted edition is actually the cheapest one on 2XU's foreign official website, which sells at a price of 69 US dollars instead of a new model. The price of the best selling pair of trousers is priced at 499 yuan on Tmall. When it is double 11, it will be further discounted to 349 yuan, with a total sales volume of 814.

But Li Shujun said the result was better than her expected "climbing period".

The sales goal set by Li Shujun himself to 2XU is to sell 140 thousand pairs of shorts in the next three years.

The joint venture between the two companies in China is L Catterton Asia, a consumer goods investment company under the LVMH group. The company, which was founded in 2011, came out on 2015 that it will buy 70% of the shares of GXG parent company and Ningbo zhe Mu Shang limited company in five years.

As for the earlier relationship between 2XU and L Catterton, in 2013, 2XU, as a layout of LVMH in the field of sportswear, received the investment of US $75 million, and L Catterton held 40% of the company's shares.

According to Huang Han, head of the L Catterton Asia Greater China region, the two companies are preparing for bringing 2XU into the Chinese market: "after we enter, we help GXG (GXG) and the Australian sports brand 2XU to establish a joint venture in China, from GXG holding to GXG to expand from men's clothing to sports fashion", and 2XU obtains the retail channel resources of GXG in the Chinese market.

For Chinese consumers, 2XU is obviously a strange brand.

When asked by the media about the difference between 2XU and Under Armour, which has a certain reputation in the domestic sports group, Jamie, the founder of the company responsible for product development, said: "the technological content of UA clothing is totally different from ours.

UA's vision is different. They want to serve more people. "

Recent initiatives also show that 2XU does not want to get more customers. At least, they have realized the trend of sports and leisure.

In the United States, 2XU is not only associated with training equipment for NBA players such as Lebron James, but its latest headline was due to Kanye West's fifth quarter conference in February this year, and 2XU's compressed diving suit was used by Mr. Kan.

This once caused 2XU to be exposed by a large number of media.

According to the world clothing shoes and hats net, the brand was not known before. Until the month before the show, Jamie Hunt just received the email saying that Kanye West was interested in your products.

"We have ten days to design and produce it in Asia and deliver it to New York."

In order to get more opportunities for cooperation, 2XU has moved its company headquarters to Losangeles.

By now, Kanye West has become a communication and publicity point for 2XU to release its brand in the Chinese market.

Before that, Jamie Hunt didn't realize how big it was.

In a post interview interview, he said, "when Yeezy news came out, I was having dinner with my daughters. The first thing they released on Facebook was," Dad, we are proud of you. "

I have done so many things, and now they are proud of this.

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