Zara’s parent company Inditex confirms to close all physical stores of its three brands in China

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release date:2021.01.28          13:44

In 2020, the world will be shrouded in the haze of the epidemic, and the fashion industry will also suffer from the suspension of business and economic downturn.”Overall clearance as low as 29 RMB,” the banner will appear in fast fashion giant Inditex Group brand in stores.

All 29 RMB

According to sources quoted by Fashion Business Express, Spanish fast-fashion giant Zara’s parent company Inditex, which is regarded as a benchmark by many Chinese apparel brands, has confirmed that it will close all physical stores in China for its Bershka, Pull&Bear and Stradivarius brands, and all relevant stores are expected The work will be completed by the middle of 2021, and only e-commerce channels such as the official website and Tmall flagship store will be retained.

zara

In fact, the closing actions of these three brands in China were not sudden, and they started to advance gradually as early as the second half of last year. Taking Guangzhou as an example, Bershka in Zhengjia Square began to sell goods at discounted prices as low as 29 yuan in June last year, and officially closed at the end of July, while Pull&Bear in the same mall closed in August.The Stradivarius Guangzhou Zhengjia store started to discount clearance at the end of October this year. The brand’s official website showed that there were no stores in Guangzhou. It is exactly the same as the performance of Forever 21, New Look and Esprit before they withdrew from mainland China.

At present, these three brands each have about 10 stores left in China, mainly located in Beijing, Shanghai, Shenzhen and other places. There are no new products in the stores, and all of them are discount clearance. As of the end of January last year, the number of Bershka, Pull&Bear and Stradivarius stores in China were 62, 65 and 35 respectively. This also means that the Inditex Group has closed more than 180 stores in one year.
According to people familiar with the matter, large fast-fashion giants like inditex will enjoy “escape clauses” in shopping malls, and can terminate the lease agreement in advance after notifying the owner 3-6 months in advance, and can close the store without responsibility.

bershka

Covid-19 undoubtedly accelerated Inditex’s accelerated transformation and actively explored online shopping channels. In the face of the blockade measures, although some stores were forced to close or shorten business hours, online sales increased by 75% compared with the same period last year. Inditex Group said: “Based on our continuous analysis of the needs of Chinese consumers, inditex’s young brands will focus on strengthening their e-commerce development.”

No matter what industry, changes and iterations are the lubricant that drives the advancement of gears, and gears can only find a consistent interface if they are constantly adjusted. When Zara’s golden age ends, a new chapter is also opening.

Source: Fashion Headlines, Caijing.com

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