Retail in China through trying times
Source: Fibre2fashion News Desk - India Date: 2009-11-16
| Margins under crunch and the brunt of constrained capital is the story of today’s retailer, world over. Retail in China is also through such trying times. Retail sales growth averaged around 21% last year in the country, whereas, in the first five months of current year around 15% slow down in this growth was reported. Analysts are trying to locate how Chinese manufacturers, and their bosses who have grown up on the factory floor, will cope in the competitive retail world ahead. In an interview with Face2Face team at Fibre2fashion, Mr Edward Kang,Chairman and CEO, Ever-Glory Intl Inc — an apparel retail giant of China, narrates- “The retail market has been reporting sales declines since the global economic slowdown in 2008. Although consumers did not eliminate entirely their spending, the financial crisis has affected the consumption structure profoundly.” Speaking to Face2Face team, Mr Kang has further described the buying trends and present hindrances in the growth of China’s apparel retail industry. He has also shared about the key to success amidst stiff competition that is to prevail post crisis era. To read the interview, please click here. Nanjing-based Ever-Glory is one of China's leading garment manufacturer, distributor & exporter supplying casual and sportswear to names such as Next, QuikSilver and Levi's.Company’s retail venture owns more than 100 stores around China and accounted for 12.3% of sales i.e. $2.5m in the first quarter. | |
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