China'S High-End Underwear Sales Are Rising. Good Times Are Coming.

Recently, in Hongkong, La Perla, a high-end underwear from Italy, has opened its largest global market in Tongluowan street near Tongluowan, Times Square.

This is the fourteenth store opened by the brand in mainland China and Hongkong.

Last month, Agent Provocateur, the UK's high-end underwear brand, opened its first single store in Hongkong.

Before, Agent Provocateur had two special counters of Hongkong Lian Carver and 7 real stores in the mainland.

Angelito Tan, co-founder of RTG Consulting, a luxury consultancy, said that sales of underwear in China amounted to $20 billion last year and is expected to increase by 18% this year, of which high-end underwear accounts for 1/3 of total sales.

Angelito Tan said the high-end underwear consumption in China was beginning to start, and the underwear brand had just begun to return, and he saw great potential.

Garry Hogarth, chief executive of Agent Provocateur, said that the sales volume of 4 stores in China exceeded 25%, and the sales volume of Beijing stores has increased by 30% recently.

In January 19th of this year, the Agent Provocateur store in Beijing opened in Xidan's old Buddha's department store in Beijing.

Sales of Agent Provocateur in Asia and Australia account for 10%-12% of total sales.

In the previous interview, Garry Hogarth said that according to the strategy of Agent Provocateur, 3 new branches will be opened in Shanghai, Chengdu and Guangzhou this year, and more than 20 branches will be opened in Greater China in the next few years.

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Born in 1954, Italy underwear brand La Perla entered China in 2007 and gathered in Beijing and Shanghai.

There are many branches in the commercial area.

The brand's silk men's boxers cost more than 1000 yuan, while the price of their gowns is even over 10000.

Even at a high price, sales of the 14 stores in mainland China and Hongkong and Taiwan last year surged by 42%.

Matthew Crabbe, Asia Pacific Research Fellow at Mintel, a consultancy, said underwear manufacturers still have much room for improvement in China.

"The strong growth of China's high-end underwear market is mainly due to the continuous growth of per capita income, and more and more consumers can buy products of high quality and higher price."

Matthew Crabbe said.

"Underwear is not something external, which limits the purchasing power of high-end underwear for a long time."

Angelito Tan said, "recently, we have done a research on the new generation of women in China.

We see that China is constantly emerging with strong and confident women.

Their strong spending power and independence are the strong driving force of the market.

Appearance and body can help them gain self-confidence. They are curious and willing to try new, bold and beautiful underwear.

In the end, this means that things that once were perceived by themselves become more and more important.

The Wall Street journal reports that the strong growth of the high-end underwear market is attributed to corruption.

According to the article, with the increasing anti-corruption efforts of the Chinese government, some high-end groups who were keen on luxury consumption began to avoid the high-profile luxury brands, while some of the international brands of branded bra products, swimsuits and other underwear series had grown up in the past year.

A dark horse.

Tom Doctoroff, the advertising agency's chief executive of JW, explained the phenomenon as "many people still want to indulge in a low-key way". (Tang Ruitao)