Fast Fashion Is Weak? H&M Withdraws From Two Major Business Circles In Beijing

The reporter recently visited and found that after the last clearance sale, the two H&M stores that had been stationed in Qianmen Street and Wangfujing for many years at the same time were closed. Beijing APM, which gathered a large number of fast fashion brands, also reduced the proportion of fast fashion.

At the end of September, H&M held a final discount sale at Qianmen Street's store. The clothing in the store was sold at "cabbage price". "Some clothes cost only ten yuan after the discount, which is cheaper than the stalls." Ms. sun, who hurried to store stores before closing the shop, said that the store was in a mess and many clothes had been broken. This contrasts strongly with the grand occasion that H&M just entered Qianmen Street 10 years ago.

In recent years, the popularity of this store has been declining. Reporters have visited several times to see that the H&M front store was deserted and did not enjoy the welfare of Qianmen Street. With the expiration of the lease, H&M chose to evacuate. Almost at the same time, not far away on Wangfujing street, the H&M store located on APM street in Beijing also quietly closed the door.

Lai Yang, executive vice president of the Beijing Business Economics Association, analyzed that once the international fast fashion entered China, the domestic clothing sales channels were mainly traditional department stores. There was a big gap between the domestic clothing and the international fashion design. After the fast fashion entered the country, the design, the commodity cycle and so on were all in line with the international standards, and were quickly accepted by the domestic consumers at a relatively cheap price.

Lai said that the fast fashion's affordability is not high, and the shopping mall's introduction of fast fashion is mainly for its ability to attract passengers. But in recent years, with the upsurge of consumption and the rise of online shopping, fast fashion has lost its advantages in quality and price, and the passenger flow is far less than before. Against this background, fast fashion keeps shrinking stores. The owners also want to rent the bunks to the brand with higher rental capacity and upgrade the brand structure and format structure. Therefore, brand replacement is an inevitable trend.