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Will clothing customization become the next outlet for the textile industry?
my country's apparel industry is slowly picking up after experiencing bottoming out in performance. It can be seen from the 2018 annual reports released by various companies recently that the overall performance is in a state of steady development. Of course, there are also some companies whose operating income and net profit have declined or even lost money. In order to find new performance growth points, clothing companies have begun to transform. At the same time, with the upgrading of consumption, consumers' demand for customized clothing has become stronger and stronger, which has also provided clothing companies with new ideas for transformation. Can the customization business bring new opportunities for the development of clothing companies and even the entire industry? The number of entrants increases, and who can become the breaker? There are companies in sub-sectors that have lower-than-expected revenue or even loss. The once-popular fast fashion brands also began to decline. Forever 21, New Look and Topshop have closed stores and withdrawn from the Chinese market, while Zara, H&M's life is not easy. At the same time, garment enterprises are also facing the pressure of high inventory. In order to cope with the current development dilemma, many companies have set their sights on the clothing customization business. Judging from the current situation, the main types of enterprises in the market are divided into new Internet + customization enterprises, traditional clothing transformation and customization enterprises, and advanced customization enterprises. New Internet + customization enterprises rely on science and technology to develop clothing customization business. Recently, Qingdao Coolte Intelligent Co., Ltd. (hereinafter referred to as“Cool Smart”) updated the IPO pre-disclosure documents, the company plans to land on the Growth Enterprise Market, and the amount of funds raised is 418 million yuan, which is mainly used for new factories, warehouses, big data and R&D centers. Among them, the investment in the construction of the flexible smart factory is 237 million yuan, and the designed production capacity is an annual output of 310,000 sets of customized suits and 300,000 customized shirts. After the stable operation period, the scale benefit is obvious. It is estimated that the sales revenue will be about 441 million yuan in the year of reaching production (ie, the fourth year). The purpose of Kute Smart's listing is to become the first stock of clothing customization. Coincidentally, UF7, an artificial intelligence clothing customization project, recently received tens of millions of angel rounds of financing, with an overall valuation of over 100 million yuan. This round of financing was led by former Ali executives. It is reported that the UF7 project was established in 2013, and has invested tens of millions of yuan to successfully develop the UF7 artificial intelligence customization system based on the adaptive core algorithm, which has found a core support point for the realization of mass customization in the clothing industry. In addition to emerging enterprises, traditional clothing enterprises have also begun to develop clothing customization business. In May of this year, Wu Zhize, chairman of Baoxiniao, said at the 2018 annual performance briefing that at present, consumers can already make private tailoring through Baoxiniao brand outlets or door-to-door measurement by physiotherapists. Teachers and coordinators conduct nationwide store tours to promote the development of body-weighting business. Wu Zhize said that the customization business achieved growth last year, and Baoxiniao will continue to promote the full-category private customization business. More and more consumers have recognized and experienced private customization services. In the future, advanced ready-to-wear customization will be an important part of the development of brand clothing. than the Annunciation Bird,“The first stock of professional wear in China”George White started the customization business as early as 2015, starting from school uniform customization. At present, George White has achieved full coverage from school uniform customization, group customization to high-end customization. The 2018 annual report shows that the company's designer team has established a cooperative relationship with Donghua University, focusing on fashion customization. In addition, MAYOR, a brand of Youngor, focuses on high-end customized experience, and the current performance has achieved a slight increase. According to the reporter of China Business Daily, the current high-end customization enterprises are represented by Hongdu, Yongzheng and Longqingxiang, which are relatively mature in development. They are mainly characterized by personalized service and tailor-made installation, and the scale of the enterprise is relatively small. There are still difficulties in the customization business, whether it can become a trend in the future In the industry's view, the emergence of the customization business can help clothing companies reduce inventory risks and speed up their response to changes in market consumption, but it also has many pain points. Relevant experts of China Garment Association said in an interview with a reporter from China Business Daily that traditional clothing customization is mainly made by tailors by hand, and the cost is high and the price is naturally high. With the upgrade of consumption, the personalized needs of consumers have increased, and the customization business has gradually shifted to mass customization. But judging from the current situation, despite the large number of entrants, it has not appeared.“bellwether”. At present, the development of clothing customization business is in addition to emerging startups, such as Yibangren, MatchU Code Shang, LESS&In addition to MORE, it is only part of the transformation strategy of traditional clothing companies, and it is difficult for emerging companies to win the favor of the capital market with customized business, and funding problems have also become hidden dangers.
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