Tuesday, November 9, 2010

Business: Why The Gap Missed the Boat in China

Forbes China Rich List Focus:What's Next for China's Fashion Retailers?
By Russell Flannery, "Forbes" found via Stylites blog "Paul French on Retail China"


"Homegrown Chinese retail fashion entrepreneurs such as Metersbonwe billionaire founder Zhou Chengjian (周成建have thrived amid the country’s spending boom owing to fast execution and great ambition. But what’s ahead in consumer tastes? How will the many foreign brands looking to get into the market affect domestic leaders?  We exchanged by email with Paul French, the chief China representative of Shanghai-based market research firm Access Asia. Excerpts follow. Asia Access specializes in China’s consumer and retail markets. French also the author of a number of books  on China."  >>Continue Reading

Excerpt from Stylites blog:

Paul French on Retail in China

Here, Paul French of Access Asia explains to Forbes that 20% growth of retail in China is not an exaggeration due to skyrocketing incomes in second and third tier cities.  Fast Fashion brands Zara, Mango, H&M, and others are having their moment while The Gap missed the boat....He notes that the American brand [Gap Inc NYSE:GPS should have developed Banana Republic, a point with which I readily concur since there is a lack of high quality, but basic, work wear on the market.. >>Continue Reading
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