It is hard to find foreign businesses who have really made their brand stand out in China. Chinese consumers are very picky about what they want in products, especially when it comes to fashion. However, the fashion store “New Look” is showing they have what it takes to make it in the Chinese market, with their new stores opening up throughout China. And becoming one of the Chinese brands that people are interested in.
About New Look
The store began in 1969 in the UK, as a single fashion store. They provide the latest fashion trends for men and women, including maternity wear and teen wear. The brand prides itself on being a leader in the latest fashions, as they boast the fact they post at least 800 new products to their online store per week. The first New Look stores in China were opened in 2014.
Future Plans for New Look in China
Currently, New Look is boasting 30 stores in China, and they have a plan to open up 40 more stores in China throughout the rest of the year. The chief executive of New Look, Anders Kristiansen, stated:
“This is a great story of a British brand which has been successful in China.”
New Look is opening up these new stores with their new owner, Brait. Brait is a company that is controlled by Christo Wiese, a South African tycoon. And it is this new ownership that is meant to help New Look expand into the Chinese market with gusto.
New Look by the Numbers
New Look is performing better than they were during the fall season, when it seemed the company was losing their consumer base. For this year, they have already seen:
- An increase of 3.4% in group sales
- 7% increase in profit
- Sales both online and offline increased by 5.4% in 3 months
These increases in sales and profits is in conjunction with the brand becoming more dominant in the market and appealing to more people.
What Makes New Look Appealing
According to Kristiansen, what makes New Look appealing to the Chinese consumer market is:
“We came in with strong, good fashion at affordable prices and Chinese consumers love it.”
New Look has a wide variety of products, and they provide a wide price range. Thus, a person can purchase the product they want, at the price that best fits their budget. It is this pricing spectrum that helps the company to expand their consumer base and potential customers. The company also hopes to make it easier for their customers to find what they need with their online platform, and their plans to open even more stores within China.