Text / Kim Wrong Knife Channel
Chinese, I don’t eat the Korean set more and more!
At the Winter Olympics, South Koreans who did not speak of martial virtue were bombarded by Chinese netizens in turn.
Innisfree, once popular in China, closed more than 600 stores last year.
The clothes love, known as the “dream of 900 million Chinese girls”, was exposed to be shoddy, and was called a knife for cutting leeks by netizens.
ELAND, a brand of Yilian,
A down jacket costs 75 yuan, but the price is 1598 yuan, and the hang tag premium is more than 20 times!
As soon as the news came out, it immediately “Xiti” hot search first.
Although they made an explanation, they threw the pot to the “ingredient ingredients”, and by the way, they popularized the difference between processing cost and total cost.
It is clear that Chinese consumers do not eat this set
The big guy behind ELAND is
Korea E-Love Group.
In China, it used to have 8,000 stores.
In terms of quantity, 10 Uniqlo can’t catch up.
The two most prestigious brands are ELAND and Teenie Weenie next door.
It is no exaggeration to say that
Together, the two brands are the “dream clothes” that girls can’t climb.
In the past two years, Yilian has ceased to be prosperous, selling assets, closing stores, getting involved in the “quality gate”, and even selling the parking lot.
Why doesn’t the Korean brand work in China?
8,000 stores are firmly in the C position
10 Uniqlo can’t catch up
Yilian Group has always ranked C in China’s fashion industry.
It opened stores to high-end large shopping malls and occupied the most prominent position.
ON THE SECOND AND THIRD FLOORS OF THE MID-TO-HIGH-END SHOPPING MALL, AS FAR AS THE EYE CAN SEE, ELAND, SPAO, TEENIE WEENEIE AND OTHER STORES ARE NEXT TO EACH OTHER, ALMOST CONTRACTED BY YI LIAN.
In the hearts of Chinese girls, these brands are unaffordable.
Crisp navy striped dresses, preppy shirts… These are all memories of youth after the 80s and 90s.
Some netizens even said, “Yi Lian is the dream love clothes I couldn’t ask for when I was a child.”
At its peak, Yilian had 8,000 stores, enough to watch the fashion industry.
What is the concept of 8000? In 2020, UNIQLO was in the limelight, with only 767 stores in China.
The number of Yilian stores is 10, and Uniqlo can’t catch up.
Yi Lian is firmly in the C position in China, and it is inseparable from the chairman Park Sung-so.
In the 90s of last century, China and South Korea had just established diplomatic relations and cultural exchanges had increased.
Park Sung-so’s eyes are vicious. When he attended a lecture at Peking University, he found that Chinese professors and students were wearing Zhongshan costumes. “If they start looking at popular clothing, China will be a huge market.”
A year later, in 1994, Yilian entered China.
In order to understand Chinese’s heart, how hard is Yi Lian?
For six months, Cui Zhongliang, president of Yilian China, went to 193 cities with 10 employees to investigate the characteristics and styles of clothing of people everywhere.
In Magu, Yilian established the world’s largest fashion research institute, specializing in the color, length and material of fashionable clothing, and speculating on fashion trends.
The director also likened the job to it
“The fisherman who fishes the hearts of customers”.
The high-class sense of Yilian is solidly done.
At that time, Yilian also lived up to the name of “high-end”.
Giordano first entered China, in order to seize market share, with a franchise distribution model, accelerated expansion, followed by decline.
Yilian avoided the pit that Giordano stepped on,
All stores in China are directly operated.
When they found that the coats they were selling had minor flaws, they destroyed 1,770 high-end women’s coats with scissors.
Yi Lian’s intentions captured the hearts of Chinese girls.
2005-2015 is the “golden decade” of Yilian in China.
The average annual growth rate of Yilian China is nearly 50%. By 2015, in the list of Shanghai’s top 100 taxpayers, Yilian was the only clothing company on the list.
The tax alone paid 815 million, calculated according to “one cool = 2.08” million,
This tax can be “cool” for a year.
Yilian is also known as “a miracle company”.
Sell yourself to help!
A rout engraved in genes
This top Hanbo is experiencing its darkest moment.
In six years, Yilian has done two major things:
It’s either selling your life or closing stores like crazy.
Teenie Weenie, once the most gold-attracting brand of Yilian in China, sold to the Chinese company Vignas for a huge investment of 5.7 billion.
The “Korean Bear” sold itself, ruined the listing dream of Yilian China, and it was also the beginning of the collapse of Yilian Group.
This is not over, Yilian also sold its three world-renowned sports brands to Xtep in a package for 1.749 billion cash transactions.
Even sold more than 20 store parking lots, ten-year operating rights,
Raised 700 million yuan in life-saving money.
In 2020, Yilian handed over the “worst” report card in 40 years, and sales fell by a large double-digit percentage for the first time.
Stores in Daegu and Incheon in South Korea were closed one after another.
In China, Yilian’s SPAO has long closed stores in large quantities, and this store once sold more than 4 million in 3 days.
A fierce operation, once ranked among the top 500 Asian brands, finally fell out of the list.
How did a multinational fashion giant with a history of more than 40 years fall here?
1. When you buy it, you can pay back the crematorium
The biggest problem of Yilian is the high debt ratio,
At one point, as high as 399%
Where did the “loser” Yilian spend the money? It props up a business empire with debt.
In South Korea, Yilian not only sells clothes, but also contracts for Korean people’s food, clothing, housing and transportation, and even performance projects.
During the 2008 financial crisis, Yilian also acquired a troubled Vietnamese-listed company.
2. Fined 240,000 yuan, trapped in the “quality gate”
Yilian once vowed to “provide customers with twice the value at 1/2 price”.
However, he was quickly slapped in the face.
At the beginning of last year, Yilian was fined 200,000 yuan by the regulator because the wool coat did not contain wool.
In February, March and April of the same year, Yinian Shanghai was fined many times, and the reasons for punishment were almost all related to quality.
Tianyan inspection records show that in the past two years, the amount of fines for Yilian has exceeded 240,000 yuan.
On the black cat complaint platform, Yilian has more than 100 complaints, either the delivery is not timely, or the price difference during the non-surrender period.
On Xiaohongshu, a large number of fans asked the brand why the quality of the product has seriously declined.
To fool consumers, the brand favorability of Yilian is almost “made” gone.
3. 4 years late and missed e-commerce
In the past 40 years, Yilian has almost missed the “e-commerce era”.
After “slimming”, Yi Lian began to switch to the Internet.
Ayazhi and Yilian entered the Chinese market at a similar time and positioning.
Ayazhi has brands such as Jack Jones, ONLY, and VERO MODA.
But during the epidemic, Ayachi organized hundreds of live broadcasts, and business did not decline but increased.
In contrast, the “online” of Yilian is nearly 3 years later than Aya next door.
Hanswear brands that dominate China,
Why is it getting dirtier?
In the past, Dongdaemun in South Korea was a magical existence.
It is a wholesale distribution center for Korean clothing, but there are many Chinese salespeople.
A large number of Chinese merchants rushed to buy goods here.
There are two “no” principles here:
No haggling, no looking.
As soon as the new model arrived, it was immediately snapped up, just to get the clothes early and start selling early.
The Korean version and Dongdaemun represent “fast money” in China.
In the past 20 years, Korean fashion has been frantically exported in China.
Korean clothing brands such as Yilian and Baijiahao entered China collectively.
During the peak period, “100 good and the same style” fed a large number of certain treasure merchants, and some online stores developed into large stores with a scale of 100 people by selling original orders.
Handu Clothing House, a once popular Chinese brand, also started by purchasing Korean clothing.
Not only Baijia is good, but Mind Bridge, which focuses more on OL style, has taken over the position of Baijia in a certain period of time.
Consumers’ confidence in local brands is limited, and Korean brands take turns in China.
It is regrettable that these familiar brands of the 80s and 90s have encountered a collective crisis. Baijiahao was acquired by Antarctica and transformed into a Chinese brand; Selling clothes to pay off debts.
These Korean brands all face the same problem:
Baijiahao, once labeled by netizens as “earthy”, “bad style, no sense of design”.
Some netizens pointed out that “Yi Lian is too studenty, and after the age of 18, I have no feeling for it.”
These Korean brands, the style is stable and sticky to the rules, and it seems that little has changed.
Some insiders believe that
The design of Korean brands is more like a “translator” of European and American fashion,
Localize European and American trends and form your own style.
Domestic clothing brands are on the rise, and Chinese no longer need South Korea to do “translation”.
At the same time, fast fashion brands such as Zara and H&M entered China.
Compared with Korean clothing, fast fashion is inexpensive and has many clothing styles, which is very friendly to young people who are just starting their careers.
Hanwear brands are going too smoothly in China, taking advantage of the “Korean Wave” to easily conquer the wallets of young people.
And behind the defeat of Hanbok in China,
This generation of young people “changed their hearts”.
To be comfortable, there is Uniqlo; To be fashionable, UR design update trend; For texture, there are light luxury brands to choose from.
Young Chinese no longer look up to Korean fashion brands.
What reason do they have to spend thousands of yuan on a “earthy” hanshirt?
Can’t catch young people, the hegemony of Hanwear brands, naturally can’t be held.
In the past, many Chinese brands loved foreign names and labelled them abroad.
After some operation, it is dozens of times higher than the domestic price.
Some people even like to go abroad to do some shopping, and after unpacking it, they find that it is “made in China”.
Nowadays, foreign big brands have begun to “go down” and “curry” over Chinese consumers.
Balenciaga specially launched the Chinese Qixi limited bag, and Dior opened a B station account… Other big foreign brands have engaged in live broadcasting.
Unexpectedly, the Chinese people no longer bought it, and the “beautiful” picture of rushing to grab the goods only stayed in the memories.
Even if the brand is to reduce the price to attract customers, the Chinese people still pay more attention to domestic products.
Chinese consumers’ foreign big-name filters are beginning to waver.
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