According to a report from China Business News, a staff member of Slade E-commerce said that it has indeed received a notice from the company that the offline retail business of the brand will operate until July 31, 2022, and will be closed after that. But its online e-commerce business will continue to operate.
Lingzhi Group is one of the earliest established foreign apparel groups to enter the Chinese apparel market. After entering the Chinese market in the 1990s, Lingzhi Group introduced a total of four brands. Among them, ONLY, Vero Moda and Jack&Jones have more than 2,000 stores in China. Slade is the first brand introduced by Lingzhi Group. four brands.
Some experts said that after March and April this year, the impact of the epidemic on the clothing industry has further intensified. First, offline retail has been directly impacted. Considering the location of the outbreak, it is expected that high-tier cities will be affected more than low-tier cities, and international brands will be hit harder than domestic brands. Second, they will play an important role in the 2020 epidemic. Due to the current logistics timeliness, the sales transactions and shopping experience of online e-commerce have certain discounts.
However, what needs to be seen is that despite the uncertainty of the epidemic and other factors, domestic top brands are still cautiously optimistic about their sales expectations in 2022, and are expected to be stronger than other categories.