Apparel / Textiles & Accessories

According to the statistics of China Garment Association, the market size of down jacket in China will be about 156.2 billion yuan in 2021, with a compound annual growth rate of 12.73% from 2016 to 2021. The consumer power of high-end down jacket should not be underestimated. According to the observation report of Huacheng Import and Export Data, according to the data of China National Business Information Center, from 2014 to 2020, the average unit price of domestic down jacket will rise from 452 yuan to 656 yuan; The average transaction price of large cold clothing exceeded 1000 yuan, of which the proportion of those above 2000 yuan was close to 70%.

Compared with the past, this winter, a more obvious trend of down jacket products is that domestic down jacket brands are "going up", which not only increases the unit price of products, but also gradually challenges the real "high-end".

The first down jacket brand "Shuangyu" in China was born in the 1970s. After the reform and opening up, the down jacket market in China began to sprout, and the state-owned down jacket brands Yaya and Yalu were founded one after another. Since then, Bosideng, Dayu, Sharon, Xuezhongfei and other brands have also emerged. At present, China's down jacket market has formed a typical pyramid development pattern, Huacheng Import and Export Data Observation Report.

Bosiden is the first manufacturer to test the high-end down jacket brand. Bosiden, with a history of 46 years, has already begun its transformation. In 2018, Bosiden re established its brand positioning and focused on the middle and high-end down jacket market. It is no longer a simple cold proof tool in the past. Bosiden brand has successively stepped on the catwalks of Milan Fashion Week and London Fashion Week, and invited celebrities from all walks of life who fit the brand image as spokesmen, as well as launched co branded products together with famous designers, influencing consumers' cognition with large-scale and high exposure marketing activities.

High end also needs to add high-tech added value. Bosiden products have carried out the research and development of heating system and other functions, and also introduced the Beidou satellite navigation system into the field of down jackets, which can actively send distress signals in case of distress. Bosiden down jacket, which focuses on "fashion sense" and "science and technology sense", also naturally increased the price.

According to the Huacheng Import and Export Data Observation Report, Zhu Gaofeng, Bosiden's chief financial officer and vice president, said at the company's conference call in the 2021/2022 fiscal year: "Before the brand transformation in 2017, the average price of Bosiden's hang tag was about 1000~1100 yuan, and it would reach about 1800 yuan in 2021." In 2021, Bosiden went further and launched its windbreaker down and Dengfeng 2.0 series products, with a maximum price of nearly 15000 yuan, which was close to Canada Goose, further demonstrating its determination to carry out high-end products to the end. By the end of March 2022, Bosiden's financial report showed that in the online sales of the Bosiden brand, the proportion of product revenue above 1800 yuan had risen to 46.9% from 31.8% in the same period of last year; The sales revenue of Bosiden brand also increased by 16.3% to 11.62 billion yuan; The gross profit margin also rose to a record high of 60.1%.

However, the original blank "no man's land" has attracted more and more players' attention by expanding its vision to the whole market,

Anta, Li Ning and other sports brands have also gradually introduced down jacket products worth more than 1000 yuan. The clothing brand Taipingbird has also recently released a new down product matrix, and the newly created "Skyman SKYPEOPLE" has also joined it. They are all trying to catch the huge demand of young consumers.

According to the observation report of Huacheng's import and export data, the market size of China's down jacket will be about 156.2 billion yuan in 2021, and the compound annual growth rate of the market size from 2016 to 2021 will be 12.73%.

Domestic down jacket brands began to "go up", and tested the price space of more than 5000 yuan or even up to 10000 yuan, gradually challenging the real "high-end", Huacheng Import and Export Data Observation reported.