Jiu Xi Wants To Withdraw From China? Close The Last Store On The Line.

Recently, Nine West Jiu Xi closed the Tmall flagship store, and the Han Guang Department store, the last store in Beijing, has quietly shut down.

　　 NINE WEST shop notice

Due to the adjustment of NINE WEST brand business, Tmall NINE WEST shoes The flagship store will bid farewell to the vast number of consumers. We deeply regret that, thanks to many fans and customers who love NINE WEST brand for many years, the shop will officially call the curtain on August 10, 2018, and customer service will be extended until August 31st. Thank you!

　 All channels in China

Nine West originally had 7 stores in Beijing, and new world stores and Yansha ole shops have been withdrawn. In addition, Nine West is located in 13 stores in Shanghai, Baisheng store, Huaihai. Times Square shop And the national central store has also been closed. In Chengdu, Hangzhou and other second tier cities, there are few stores.

Nine West stores in Hongkong and Taiwan will also be closed. Nine West's Asia agency GRI group issued a statement at the end of July this year, saying that the bankruptcy of Nine West holdings affected GRI group's finance and affected the business promotion. After the assessment, it decided NineWest and 7 of its brand collection stores CCSHOP. Shoe shoe And the clothing brand ended at the end of August and withdrew from Taiwan. Hongkong Market Nine West also launched a farewell bid in May this year.

Nine West's China Road

As early as 1994, Nine West has entered the Chinese market. Nine West is known for its high cost performance in the Chinese market. It was once a favorite shoe brand among Chinese white-collar workers. In the following time, the Brand Initiative has changed little, and the product has become old and has lost competitiveness. With the domestic Shoe shoe Fierce competition between brands and weak retail market, Nine West in recent years, operating revenues and profits continued to decline. At the same time, sports wind began to become popular, and repeatedly squeezed the market of fashion shoes.

Nine West has always relied on department stores to survive in the Chinese market. It is also a big hidden danger. As the traditional shopping malls are gradually abandoned by consumers, retailers can only slow down the decline in sales by lowering prices. Continuous price cuts make Nine West's income growth even more difficult.

　　 Nine West, once dominated the US market.

Nine West once dominated the women's shoes Market in the United States. A New York Times report in 1997 said, "every five pairs of shoes of American women come from Nine West". Nine West came from the United States, founded in 1969, and entered the Asian market in 1994. It is also one of the world's largest women's leather shoes designers, manufacturers and distributors. The group has 14 brands. Its products include shoes, handbags and small leather goods. It also covers glasses, jewelry and knitwear and other fields, and its business covers 42 countries all over the world. In the United States alone, there are more than 950 stores and more than 7000 outlets. In 1999, Nine West was bought by Jones Apparel group.

2006 is the pinnacle of Nine West. The queen mother of punk, Vivienne Westwood, appeared in the pioneer square of Messi's department store, not to promote the same name brand or any of her own radical ideas, but to promote her collaborative shoe series with Nine West. As early as more than 10 years ago, Nine West had already joined the high-end brands. With the appeal of the empress dowager, the brand of mid and low shoe shoes won a big market reaction.

Nine West Group bankruptcy application for sale of core brand

In the most prosperous period of Nine West, in order to further expand, the group continuously seeks capital to enter. With the application of IPO to be listed and acquired, the core brand Nine West is continuously consumed and developed to the later stage, and the liabilities of the group are increasing. Nine West alone has more than 500 stores in Asia, and its liabilities are far above net assets, giving the group a debt of 1 billion -100 billion dollars. In April of this year, Nine West (Jiu Xi)'s parent company Nine West Holdings Inc (referred to as Nine West group) announced that it had submitted bankruptcy protection application to a local court in Manhattan, New York.

In the application, Nine West group's estimated assets ranged from $500 million to $1 billion, with estimated liabilities ranging from $1 billion to $10 billion. Apart from the Nine West group itself, its 10 subsidiaries also applied for bankruptcy protection. Nine West group said that filing for bankruptcy protection was aimed at promoting the sale of Nine West and Bandolino footwear and handbag business, and adjusting its capital structure size around its profitable and growth businesses, including One Jeanswear Group, The Jewelry Group, The and cable.

It is reported that Nine West group's net sales in 2017 amounted to US $1 billion 600 million. When filing bankruptcy protection applications, its long-term debt totals $1 billion 600 million. Although Nine West has tried to remedy the measures such as closing stores, reducing administrative costs and improving product quality, it has achieved little success. In June this year, Nine West group sold its core brand Nine West and Bandolino to the US brand management company Authentic Brands Group LLC, and the Nine West group said that after the group stripped the two brands, it could focus more on jewelry, clothing and jeans business.

Excessive capital intervention, design is difficult to attract consumers, brand combination is a single reason for the brand to close shop end. After the sale of Nine West to the US brand management company ABG under the auction of the court, the Nine West's Chinese market may be closed by the new owners. Whether the international shoe brand or domestic shoe brand, the traditional shoe industry's operation mode has lagged behind, they have to enter the throes of strategic adjustment.

In the 2000-2010 years of ten years, enterprises that have transformed from manufacturers to branding enterprises have been developing rapidly. Since 2010, enterprises that have made the right transformation of e-commerce have been able to grow in the market today. In the next ten years, who is able to stand out, I am afraid it is not a chance to fight, but really needs to be creative, insight, management and cross-border integration. The rapid rise of e-commerce has changed people's shopping habits to a large extent, which has brought great impact on traditional mass brands, prompting people to prefer online shopping, and gradually lose the brand advantage accumulated over the years. The number of stores under the line is excessive, staff costs and rents increase gradually, prompting the performance pressure to increase gradually.

From the case of Nine West, we can see that brand aging, lack of design innovation and low cost performance have become the main problems of many shoe brands at home and abroad. In addition, there has been a clear trend in the footwear market in recent years: many people are throwing away their leather shoes and changing into more fashionable shoes such as sports shoes, but the core business of the traditional footwear industry is still leather shoes. There are also some new brands emerging, and fashionable styles and fast changing styles are the advantages of these new brands. Backward traditional brands need to think about who will dominate the future in terms of fashion, price and channel, and do well in information technology. No matter what kind of guidance, the results are quite different.