Shopping malls are almost full of women's clothing and trendy brands, but there is very little men's clothing. In an era where women's clothing is dominant, does men's clothing still have a place? The former men's clothing giants have also given way to the popular women's clothing. Is it, which once donated millions to Wenchuan, also about to fall? With a debt of 3 billion and thousands of offline stores closed, can it continue to persevere?
1. Men's clothing
With the development of my country's commercial economy, Chinese consumers are gradually becoming more and more female. Even among the ten women's clothing brand stores in the streets and alleys, there may not be one men's clothing brand store. Why are there so few men's clothing brands? Is it because there are fewer male consumers or is it because contemporary men “don’t need clothes”?
At present, most men in our country are still in a situation where they are not very particular about dressing up. Currently, the majority of men who are aware of the need to dress up are those born in the 90s and 00s. However, men born in the 70s, 80s, and even extended to the 50s and 60s are the main force in men's clothing. Because they have gone through or just experienced the reform and opening up, they still retain the idea that food comes first and clothing comes second. They can wear a piece of clothing for many years, and they rarely take the initiative to buy it if their wives don't buy it.
At present, you can buy good-looking men's clothing stores in the market. Most of them can buy both men's and women's clothing. They are what people often call trendy brand stores. In fact, it’s not just domestic brands that have such concerns. Looking at well-known foreign brands, luxury brands such as Gucci, Dior, Givenchy, YSL and other beauty and clothing brands also focus on women’s clothing, supplemented by men’s clothing.
Why is it that women’s clothing is mainly used as men’s clothing and supplemented by men’s clothing? Women purchase goods emotionally, while men purchase goods rationally. It is actually very simple to get a girl to buy, but to get a man to buy, in addition to cost-effectiveness, it also tests the sales ability. Even if these requirements are met, it is still difficult for men before 90 to spend money to buy clothes.
Most domestic men take care of their families. Many men are good to their wives, and the financial power of the family is in the hands of their wives. Most of the time when we buy clothes in men's clothing stores, women make up the majority, and men are either absent or waiting obediently behind. In addition, our country also has a lot of other consumption besides shopping, such as drinking, playing cards, smoking, etc. For many men, it is still more enjoyable than buying clothes. In order to let men buy clothes, our domestic men's clothing has taken great pains.
Heilan House once invited celebrities to endorse it, and hired someone to design an advertising slogan: Heilan House, a man’s wardrobe. What's the use of being a gimmick? It mainly depends on the overall strength. Compared with Heilan House, more men will choose Septwolves . But even such a men's clothing brand giant has been losing ground frequently in recent years. What is going on?
2. Septwolves
Septwolves was founded in Fujian in 1990. It mainly focuses on the men's clothing industry, and the company also penetrates into the real estate industry. But Septwolves did not become an enterprise right from the start. Its predecessor was Jinjing Labor Service Overseas Chinese Clothing Craft Factory, which mainly manufactured for garment companies in Hong Kong and Taiwan. It is precisely because
was formerly a clothing foundry in Hong Kong and Taiwan. Hong Kong and Taiwan have very strict requirements on clothing quality and materials, which resulted in the high quality and low price of Septwolves. Even if the quality is high but the price is low, consumers will not pay for the clothes if the style is not good. Why was it that Septwolves was loved by many consumers and even sold out soon after it was founded?
Septwolves founder Zhou Shaoxiong went to Shanghai to do business for a batch of down jackets during the establishment of the factory. Although he encountered obstacles during the period, he gained insights and laid the foundation for the later establishment of the Septwolves Group. Because Fujian people have a keen sense of the market, he sensed the business opportunities of the times and found a long-term development path for his company - from brand processing to establishing his own brand.
After the business goals are determined, the next step is to give the brand a resounding name. Before Septwolves was founded, a song "The Wolf of the North" by Qi Qin was popular all over the country and was loved by people. Zhou Shaoxiong roped in six of his good brothers and founded Septwolves.
Septwolves quickly established a foothold in the Fujian market with its excellent quality, super cost-effectiveness and beautiful design. Since Fujian is a coastal city with convenient transportation, it can be sold to various places in a short time. Gradually, Septwolves opened many stores across the country relying on quality and design that were superior to other companies in all aspects. At its peak, it opened 4,007 stores across the country and became a real giant in the men's clothing industry.
As a domestic product, Septwolves has a deep affection for the motherland. In 2008, the market situation of the clothing industry was not good. The global financial crisis caused heavy damage to the large economic environment. Major brands accelerated their expansion in order to compete, and the Wenchuan Earthquake also occurred in this year. This series of events overwhelmed the Seven Wolves. Even so, the Seven Wolves still donated 5 million to Wenchuan.
3. Glory and downfall
The development of the clothing brand industry did not stop the Seven Wolves by relying solely on the development of the clothing brand industry. While the clothing industry was on the right track, it also invested in real estate. Twenty years later, in 2010, Septwolves founded Hall of Fame. Not only did they optimize various services to consumers, they also invited many celebrities to endorse them. Through the celebrity effect, Septwolves' menswear journey became smoother and smoother.
In 2016, Septwolves appeared on Milan Fashion Week , becoming the first domestic men's clothing brand to be invited to appear on Milan Fashion Week. Since then, it has appeared on Milan Fashion Week for three consecutive years. His designs on the Milan show are deeply loved by consumers at home and abroad. How could the seven wolves think of that? I thought that the venue in Milan would be the beginning of international men's clothing, but it turned out to be the starting point of the company's decline.
The main reason is the full-scale outbreak of the epidemic in 2020. Both domestic and foreign industries have been hit hard, and China has become more strict in preventing and controlling the epidemic. Most people are quarantined at home, leaving many stores empty of purchases, especially in the offline clothing industry. People who are quarantined at home are wearing pajamas, and the clothes they bought are not worn again. Septwolves mainly operates offline stores, and online sales are not as good as offline, resulting in a loss of 3 billion during the epidemic.
Although the epidemic is a global black swan event , the decline in performance of the Seven Wolves cannot be entirely blamed on the epidemic. They also need to find problems within themselves. The first thing that bears the brunt is that their designs are no longer in line with their consumers. The designs sold in stores are still the designs of those born in the 1970s and 1980s around 2000. Nowadays, these people no longer wear clothes suitable for 30-40 years old. The post-90s generation who fit this age group will not buy styles that look older to them.
Secondly, foreign brands have entered China. Some foreign brands such as HM, zera, Uniqlo , etc. have entered China to compete with domestic clothing brands for the market. They have brought designs that young people prefer and are in line with the simplicity that most people born in the 80s and 90s want, thus stealing away a large number of consumers.
Although there is competition from these foreign brands, because these companies that compete with the Septwolves participated in the insulting incident, the Chinese people boycotted these brands, thus creating breathing time for the Septwolves. Judging from the currently released data, the revenue in 2020 and 2021 is 2.17 billion and 1.542 billion respectively. These revenues can still support the Seven Wolves to move forward. How long the Seven Wolves can move forward depends on how Zhou Shaoxiong responds.
Summary
The road ahead for the men's clothing industry is inherently difficult, not to mention that for companies like Septwolves, which are almost exclusively engaged in men's clothing, the opportunity is still very small for them. Even when the epidemic itself was extremely difficult, this brand that cared about the motherland still donated 1 million during the epidemic. Do you think the Seven Wolves can make a comeback and return to the top again?
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