Korean companies in China: grasp the opportunities on the booming Chinese childrenswear market
On the clothing Chinese market, some companies are suffering from the economic slowdown. In spite of these economic circumstances, Chinese parents are still ready to spoil their single children and well-known expensive brands did not see any slowdown on the Chinese childrenswear market. Chinese parents trust the quality of Western luxury brands such as Baby Dior, or fashion brands such as Zara.
But Korean brands such as Boryung Medience, Agabang & Company or Todbi also are willing to be important actors on this booming market and seem to be catching the attention of Chinese parents with the same success as Western luxury brands. In department stores, Chinese consumers are welcomed as VIP and those Korean brands are so popular that some people even want to buy the accessories on display.
Korean companies in China are determined to grasp the available opportunities
The context on the childrenswear market is consequently very promising for those already popular Korean brands, all the more so as the one-child policy has been relaxed in June 2014 in 29 government provinces. Thanks to this measure, the Korea International Trade Association expects the China’s children’s clothing market to grow 2.3 times from last year to 98 trillion won this year. Consequently, Korean brands are working on huge projects in China : Dreamsco will open not less than 20 stores of its new baby clothing brand “Moimoln”. Boryung Medience’s strategy will collaborate with Taobao, China’s largest online shopping mall and plans to increase distribution channels by 30 percent.
Thus, Korean clothing companies see a very promising new market with children’s products and they intend to take a significant slice of it. They are building huge investment projects and Chinese consumers will have the pleasure see many new stores of their Korean brands open across the country.
More about brand strategy in China