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Bingjie fashion brand "offside" to occupy the leading down jacket
For three consecutive years, the down jacket industry has experienced a decline in sales growth, pushing many companies into a stock crisis. The development of the sector seemed to be at a crossroads, with uncertainty looming over its future. In contrast, "Bingjie" — known for its youthful and fashionable image — has risen rapidly in recent years. Last year, it doubled its profits and emerged as a top-down jacket brand. It quickly became the go-to choice for Generation 80s and 90s. Bingjie first launched in 2009 at Beijing Xidan Market, and now daily sales have increased by about 100% compared to the same period last year. In Shanghai’s Manhattan Square, one counter generated sales of 1.5 million yuan during a single day.
What sets Bingjie apart is its strong fashion appeal, which has helped it stand out among many other down jacket brands. It kicked off the winter fashion battle early, bringing a glimmer of hope to an industry that had struggled for three years. This also suggests that as the seasonal clothing market starts to pick up, the down jacket market has reached a critical point after years of buildup, and a fierce competition among major brands is about to begin.
Market fluctuations have raised alarms, prompting many down jacket companies to reconsider their strategies and shift toward fashion-oriented approaches. In 2005, Bosideng, the leading down jacket brand, set records with January sales reaching 2 billion yuan, and daily sales hitting hundreds of millions. This performance shook the entire apparel industry. From 2001 to 2005, the down jacket industry saw an average annual growth rate of 25.6%, far exceeding other categories in the fashion sector. At that time, down jackets seemed to be the last chance for the clothing industry to make big profits.
The huge market potential attracted numerous manufacturers, some of whom entered the down jacket business even without the ability to build a strong brand. Distributors were also eager to secure well-known down jacket brands. Some retailers who previously sold sweaters or other garments managed to get authorized partnerships with major brands, resulting in orders worth hundreds of millions. Even foreign brands like Pierre Cardin and Valentino entered the market. By 2006, it seemed like every big name in the clothing industry was involved in down jackets.
However, this surge led to overproduction and a severe oversupply. Combined with a warm winter in 2006, the situation worsened for an industry already suffering from excessive capacity. Small and medium-sized down jacket companies faced a major crisis, forced to sell their inventory at discounted prices, triggering a vicious price war. New product development slowed, and by 2007, 70% of enterprises had been eliminated — far beyond expectations. Sales growth across the entire industry dropped significantly. According to statistics from the China Commercial Information Center, sales of winter clothing only increased by 5.76% compared to the previous year, with a growth rate decrease of 1.59%.
Faced with the threat of a price war, some major players began to change their strategies. Bosideng, for instance, had long focused on fashion and introduced the young and trendy "Bingjie" brand. Other down jacket companies also realized that, with global warming, warmth alone was no longer the main selling point. Instead, fashion, personalization, and differentiation became more important. As a result, in 2007, the down jacket industry began to shift toward a more fashion-driven direction.