Twenty years of tide cards, the song of ice and fire

In 2002, it is a vital year for global tide cards.

At that time, Edison Chen, who was a popular fried chicken, went to Japan to scatter in Japan because of the contract storm, and met Nigo, the head of the tide brand BAPE®, and the Tokyo street godfather Fujiwara. He was inspired and founded the tide brand Clot.

In the same year, UNDEFEATED, a tide brand that implied "not to be knocked down", was just born in Los Angeles. Later, it was together with Stussy and Supreme, and called the US tide brand three giants.

On the other end of the Pacific Ocean, at the Xintiandi of Shanghai, I.T Group, which has the reputation of China's "trend originator", opened the first store in the Mainland, and young people in the country gradually began to become a fan of tide cards.

Today, after 20 years of time, the tide brand is still the hearts of many young people.

When the epidemic in Shanghai and various places spread, when the offline stores were closed and controlled, the young people transferred the home of buying tide cards to the online.

In this new continent, the I.T Group, which was lost in the past, has made a full confidence that the online GMV accounts for 50%of the small goal -I.T Group, which cross the epidemic storm, has ushered in a new turnaround online.

The ups and downs and changes in the thirty years of I.T, frustration and regression, also witnessed and participated in the romantic rotation of the Chinese tide brand industry.

Chasing Hong Kong Harbin, buying hot purchase

"Tide brand" is actually an imported product. In English, the corresponding word is Streetwear, that is, street clothing.

STREETWEAR originated in the 1960s and 1970s. A American named Shawn Stussy signed it on the skateboarding of his graffiti -style signature, and later printed on a T -shirt for sale.

From New York hip -hop fashion, California surfing culture, to fusion of various elements such as hip -hop, skateboarding, basketball, and DJ, American street clothing is tide.

"From the beginning, the tide brand is different from the tall temple culture. The tide brand is for self -expression, just like the head of the Che Guevala with the beret, which is the totem of the bloody youth." After the 80s, Feng Yao, who began to expose the tide brand, believes that "street" is the "principalism" of the tide brand.

Different and open -minded are the original characteristics of the tide brand culture.

As soon as the tide card was deep, Feng Yao recalled that the Hong Kong tide was "the concept of light".

However, in fact, the Hong Kong style is deeply influenced by the Japanese trend culture. Japanese innovative designers integrate Japanese fashion trends with European and American street elements, which has produced brands that affect world trends, such as Yamamoto Yamamoto, Kawaka Po Ling, Takada Hyato Sanzhai, and many of the three houses, as well as many many houses, as well as many many houses, as well as many many houses, as well as many many houses, as well as many many houses, as well as many many houses, as well as many many houses, as well as many many houses, as well as many many houses, as well as many many houses, as well as many many houses, as well as many many houses, as well as many many houses, as well as many many houses, as well as many many houses, as well as many many houses, as well as many many houses, as well as many many houses, as well as many many houses, and many many houses, as well as many many houses, and many many houses, as well as many many houses, and many many houses, as well as many many houses. Well-known tide brands such as Y-3, Evisu, BAPE, Neighborhood, MasterMind Japan, etc., pushed Japanese tide cards to international.

From the end of the last century to around 2010, the path of buying Hong Kong wind and Japan and South Korea tide brand was not complicated. Many people face face -to -face with the tide brand for the first time, just in the I.T flagship store.

Tonyz, Tonyz, still remembers many years later that when traveling to Beijing for the first time, I was shocked by the "dragging" tone when I.T's I.T flagship store on the first floor of Oriental Plaza.

As the I.T Group, which is a Hong Kong tide, it was established in 1988 and started in Hong Kong. It started expanding the mainland market in 2002. With the help of the "buyer store" model, a large number of foreign brands were introduced.

Its business is mainly divided into "Big I.T" and "Little I.T". This model has retained to this day: "Big I.T" positioned high -end pioneer designer brands, such as Alexander Wang, Valentino, etc. There are currently 141 brands on sale; " "Little I.T" is based on selling Japanese and Korean street trend brands, such as Beams and STYLENANDA, such as the younger Japanese and Korean tide brands, now there are 114 brands selling brands.

At that time, because the tide brand had the time difference of domestic and foreign time, foreign countries first, followed by the trend, and the young trendy people who could not wait for it, began to ask for help, and hoped to catch up with the latest trend in the world.

Many young people who are studying abroad and tide brands are gathered in various communities to discuss trendy culture and grow grass tide clothing.

Chen Disheng, who is currently the director of the O2O e -commerce company of I.T Group, recalled to the "Financial Story" in mid -July. He later chose to work in the Chao brand industry, which was also due to his love for fashion and tide brand during the study abroad period.

Some international students who smelled business opportunities took advantage of the situation, and they were mixed with platforms such as 55BBS forums, post bar purchasing bars, and easy fun, Taobao and other platforms to release purchasing information. More and more tide cards will be brought into the world of young people in China.

As a result, the purchasing industry became hot. According to the test data of the China Electronic Commerce Center, the scale of Chinese overseas purchases in 2009 was 5 billion yuan, and the scale of Chinese overseas purchasing in 2010 reached 12 billion.

Follow the wind Europe and the United States, e -commerce

After 2010, with Stussy, Off-White C/O Virgil Abloh ™, Supreme and other European and American tide brands manufacture a large number of "explosive models" to increase the volume, the Chinese trend ecology has ushered in a new turning point-Japan and South Korea style are not so fragrant, it is not so fragrant. European and American trendy culture enters young people in the Mainland.

At that time, in the selection of products, the stage gravity of the I.T Group was also placed on the introduction of the European and American pioneer tide cards, relying on the trend of the trend at home and abroad to obtain the opportunity of advance.

For example, the trendy brand OFF-White C/O Virgil Abloh ™, which is now well known, was introduced in China in the second year after birth in 2013. In addition, the relatively niche European and American tide cards such as OBEY, X-LARGE also entered China through I.T. During the same period, the tide brand gradually moved towards the public in China, and behind it, there were multiple reasons for blessing.

First of all, the diverse circle subcultures are over.

The tide clothing shoe is essentially a circle of tickets and cultural symbols. A simple Slogan on the T -shirt, a special graffiti on the sweater, can become a badge to show the self.

Secondly, it is the drainage of stars with goods.

Early I.T reached its peak, and the star resources of the founder also helped a lot.

After Edison Chen, more and more star artists created their own tide cards, Jay Chou founded Phantaci, Li Chen, Pan Weibai's NPC, Zhang Zhenyue's WNP, Yu Wenle's Madness, etc. Under their daily costumes, under various stars, the tide cards are gradually known to the public.

Third, variety shows help. In 2017, "Hip Hop in China" followed the global head tide brand Supreme to the public market.

Fourth, limited sales stimulate iron powder to pursue snap -up.

When the sales of the first generation of the tide brand, when the sales reached the peak, they began to turn to exclusive sales of their own channels. The limited number of products and the number of purchases was limited.

This strategy is extremely effective, the more limited, the more sought after.

"Everyone finds that European and American brands are more expensive and unique. The limited edition that needs to be snapped up is also worth showing off." Cheng Yan, a post -90s tide of a sports brand, talked to "Financial Story" to talk about his own tide experience.

Under the multi -tension, according to the "China Tide Trends Trend Report", the tide brand consumption has grown high for three consecutive years since 2015, and the growth rate is also better than the non -tide brand.

However, with the popularization of the tide brand and the rise of generations in the consumer group, the consumer home has shifted to online. Especially under the epidemic, it is difficult to maintain growth alone. Touching the net has become a collective consensus of the tide brand.

Unlike foreign tide brand online channels, unlike the official website of the official website, in China, e -commerce first occupies the user's mind. In 2016, Edison Chen settled in Tmall with the tide brand, one of the signs.

In contrast, I.T Group Electric Plash A earlier, and started e -commerce business in 2011.

However, at the beginning, I.T Group's e -commerce and offline stores were two -plate goods, and the inventory was not opened. The sales of e -commerce promotion are highly uncertain, and the risks of out stock and backlog are staged. The supply chain pressure is also followed.

Chen Disheng mentioned to "Financial Story", "Participate in the Double Eleven Promotion, and the e -commerce platform requires to prepare sufficient goods in advance. For example, if you want to do 20 million business, you have to prepare 40 million inventory in the warehouse. But the problem is obvious. If the sales are not expected, only 10 million are sold, what should I do if 30 million? This will bring inventory pressure. "

It is also from this experience of touching the net, Shen Jiawei, the founder of I.T Group, began to conscientiously think about the possibility of "omni -channel layout" and "public and private business joint venture".

Accelerate in the epidemic, the rise of the whole region

By 2017, the overall strategy of the I.T Group was officially launched, and members, inventory, and sales gradually opened up; in this way, the efficiency of the circulation of goods was improved. The problem of the original headache was also greatly resolved by the omni -channel layout.

Among them, the opening of the membership system is a key step -online and offline domestic and foreign countries, "Big I.T" and "Little I.T" all brand membership system opens and share points sharing, so as to promote users 2. Multiple repurchase.

At the same time when the membership system was opened, the ITESHOP Mall "ITESHOP Mall" was also launched simultaneously in 2018.

In the definition of Chen Disheng, one of them is the alternative of the official website and APP. It is lighter and flexible. There is no need to persuade users to download the bulky APP. Control home.

Second, the applet is a new blue ocean that brings new incremental. "Previously, there was no platform to combine social integration with e -commerce. Some people had unlimited business opportunities." Chen Disheng asserted.

As far as I.T Group is concerned, the private domain is not just a trading site, but also a "trend gathering place" that interacts intimately with the target group.

Based on the above cognition, the I.T Group is full of drums. On the supply side, a comprehensive commodity matrix is ​​configured for the mini -program to maximize the need for tide brand consumption needs.

On the side of the user, I.T Group rely on activities such as limited single products lottery to achieve rapid new pulling, which is more efficient than offline.

From March 2021 to the end of the year, ITESHOP, the applet of the I.T Group's layout, launched a total of 25 lottery activities. The number of new fans was 550,000, and the powder suction rate was as high as 56.5%.

In 2021, it also became the I.T Group's new year -the ITESHOP single platform to pull a new member of about 1.5 million a year, which has become the group's new main position.

Under the layout of both end of the supply and demand, I.T Group's applet GMV grew rapidly. In 2019, 95%of the small program contributed by the online sales except e -commerce platforms. By 2021, the sales of private domains increased by more than 200%year -on -year. Online transformation also allows I.T Group to safely cross the epidemic storm.

For several months this year, the offline stores "dripped the water", and many fast fashion brands were sinking. However, because of the early layout of online channels, the revenue of I.T Group only fluctuated by 10-20% during the control period. about.

At present, the alternative relationship between online and offline is the same as each other, but it is drained each other. At present, the heavy fit of I.T online and offline members is as high as 80%, and the user's two -way flow is obvious.

From online to offline -when the new store opens or offline flagship stores need drainage, the applet will guide users to collect them in the store in the form of lottery and sharp goods. quantity.

From offline to online -designing a set of push passenger plans. From the end of 2018, offline shopping guides and employees can promote all the products on the applet to the cooked customers and their own circle of friends, and transform After success, you can also get "commission" incentives. In 2021, this move has covered 80%of offline stores.

In addition, there are also complementary differences in the strategic focus of online and offline.

For example, the suitable strategy of the store is selected products, "a small amount", and the small program is suitable for "a large amount"; in addition, the offline store customers are very sensitive to the "seasonal season" and "season". Seasonal products must be discounted, and mini -program users will be more inclusive for the season and will not be affected by this.

Of course, for I.T, the layout of the private domain does not happen overnight. As a tide brand gathering store, the construction of its private domain ecology is much more complicated than single brands.

Its transformation has just arrived in the midfield, but the group is quite optimistic. The online GMV is determined to account for 50%of the new goals. In 2019 and 2021, this number is 19%and 30%.

Today, I.T Group, which was lost for a time, tried to find the second spring and no longer relying on a single show for offline stores. The four -year exploration was also a microcosm of the tide brand in the Chinese market to lay out private and public private domains.

The tide brand tide, dividend division

At present, the tide cards such as I.T are going to the middle, and the trend consumption has no end. From tide clothes, tide shoes, tide to lifestyle, continue to evolve and spread.

The "White Paper on China's Trendy Consumption Development" released by the First Finance and Economics shows that the global tide brand has reached US $ 200 billion in annual transactions. In the domestic market, the growth rate of the tide brand is 3.7 times that of non -tide cards. In 2020, young people in China contributed to the tide brand nearly 400 billion yuan.

Under the 100 billion dividends, where does the supply of trend markets and consumption go?

First, supply and demand diversified and user fragmentation.

The supply of tide brand categories is diversified, not only to wear, but also diversified categories such as tide -playing, furniture home, beauty skin care, can be combined with trendy culture.

At the same time, tide users tend to be popular, fragmented, and continued to decrease in loyalty.

The "Digital Insight Report on the Digitalization Trend of the Luxury Market in China" released by Boston Consulting shows that in the past two years, only 36%of users have continued to buy the same brand, while 81%of users have moved to different brands.

Under the diversion of the two ends of the supply and demand, on the one hand, the tide can expand the category to meet the diversified needs of users.

For example, in Chen Disheng's plan, in the future, I.T Group will upgrade to the platform model from the "buyer agent+incubation of its own brand" model to absorb more brands to sell in Iteshop. At the same time, it is also intended to develop more tide tide Play category.

On the other hand, the more interesting the interest of young groups, the more the tide brand needs to build its own core position and stabilize their heavy users.

Today, I.T Group has been trying to build a community to gather core users. Some young people aged 17 or eight will chat in the group every day. The topic of chatting may not be related to I.T. For example, today he grabbed limited new shoes in Nike and so on.

Second, the tide brand users are no longer fully followed the wind, and the national tide brand has risen.

Today, generations have jumped to the mainstream of tide brand consumption. The "2022 Decoding Z Generation" report released by Dentong China shows that the consumption scale of generations in the trend market accounts for 80 %.

The consumption characteristics of this group are that they rarely follow the trend, cultural self -confidence, and favors the national tide.

In addition, according to the "2021 New Youth Domestic Consumption Research Report" released by Aurora, more than 70%of young people are interested in "new domestic goods".

Under the pursuit of generations, the national tide slowly torn off the labels of low -end and cottage in the past, and gradually had a premium. The survey of "Iri Watching" shows that more than 90 % of the national tide users are willing to pay different premiums for the tide brand.

For example, I.T, the main pioneer designer brand, has reached a cooperation with outstanding domestic designer brands such as FENG Chen Wang.

However, compared to mature European, American, Japan and South Korea, the national tide brand starts from 0 to 1, and first cuts from the small circles to accurately capture demand in the private domain. Act of. In 2021, the sale of "sharp goods" brought more than 123%of the brand applet transaction, and the number of participants in the release activities was more than three times that of other platforms.

In addition, the tide brand circle has a strong cultural atmosphere. It sells not only tide clothes, tide shoes, but also in the circle of tickets. Highlighting. Third, the tide brand sinks, and three to five -tier cities have become growth points.

The signs of sinking in the national tide are the most obvious. The aforementioned report of iResearch shows that users of users in fourth and fifth -tier cities have a purchase rate of 82%of national tide clothing.

For the tide brand, the traditional opening idea of ​​"the best cities, the best shopping malls, and the best position", urgently needs to break through, small programs and other online channels, which can help the tide brand extend to the county at low cost and quickly help the tide brand. Fully cover three to fifth -tier cities.

Fourth, the general trend of digitalization, and the layout of the private domain has become a consensus.

At present, foreign domestic tide cards either deploy "public domain+private domain" at the same time or all in private domain.

The former, such as Nike, Bubble Mart, Li Ning and other private domains, and Drew House, which is similar to Justin Bieber, is only available in the applet and comprehensively All in private domain.

Starting from the opening of the first store in the I.T Group, the Chinese tide brand market is ups and downs, consumption upgrades and cultural changes are crossing, and they are chasing the 60 -year transcripts of European and American tide brands.

To some extent, the tide brand is also a consumer symbol carrying national cultural strength. When cultural self -confidence rises, the outbreak and fiery of the tide brand will follow. (Interview object Cheng Yan, tonyz, Feng Yao as a pseudonym)

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