Wuyi China enters the BOTH era

In 2014, the light luxury was red and red over all the old luxury brands. The so-called “luxury goods” all have a hundred-year history. When we explore the reasons for its unabated charm, it is not difficult to find that apart from its scarcity, its cultural values ​​and propositions are its enduring secret. . However, for Chinese users, the rush of luxury goods may be impeccable in terms of design and quality, but it is pale in far-reaching connotations. The recent launch of fashion brand BOTH may change this situation.
BOTH is a fashion shopping platform launched by Singapore ATX Business Group and many European boutique brands. It is also China's first O2O male light luxury brand integrated shop. BOTH takes the Chinese male intellectual elite as the core group and advocates the new concept of “clothing and clothing”. That is, clothes can represent my connotation, and I find clothes that match my inner value and it is the highest state of the clothing. BOTH is also through practical actions to convey such a message: light and extravagant not only respect the quality of life, but also a self-expression with cultural value.
Light rise
How light is the luxury in the end, look at the following figures can be glimpsed. In 2013, the light luxury brand leader Michael Kors ranks eighth in the old brand of luxury brands with a market value of 16.5 billion US dollars, and is the only light luxury brand among the top five luxury goods listed companies in 2013. Coincidentally, Kate Spade, another global luxury brand leader, reported in the third quarter of 2013 that sales increased by 76.4% compared with the same period of last year, and the younger group had a high rate of repeated purchases.
Bain China clearly stated in the “Luxury Report” released at the end of 2013 that the growth rate of the Chinese luxury goods market in 2013 was 2%, which is lower than the level in 2012. The overall level in 2014 will continue the tone of the slowdown. At the same time, the trend of luxury product lines to the top and entry polarization is even more pronounced, especially as the younger generation has become an emerging luxury consumer group with distinctive characteristics and needs. The emergence of new trends has provided fertile ground for the rise of light luxury. soil.
The data released by the World Luxury Association in 2012 also shows that among the entire Chinese luxury consumer group, light luxury consumption accounts for about 35%, but its rate of increase is rapid. In the department store department, consumers of light luxury goods are more keen than the frontline. Bigger than 25%. All this indicates that the light luxury has ushered in the best era in the world.
Mature consumer ecosystem
The unrivalled luxury of the old luxury goods has been pulled down from the altar. At the same time, it combines design, quality and cost-effectiveness. All this makes the luxury products look beautiful, but in BOTH’s view, it still remains in the light luxury consumer ecosystem. There are some immature factors.
BOTH pointed out that from the perspective of the industry as a whole, the industry currently has a narrow range of discussions on light luxury, most of which are measured by the standards of luxury goods, and regard light luxury brands as “sub-brands” that are not among the luxury brands. , Trying to use the luxury way to pack luxury, take the luxury of flashy old road. At present, some so-called light luxury shopping platforms have neither the selection of product styles nor the guidance of the cultural value of light and extravagant consumption. The expansion of spoon-feeding has been blindly pursued by young consumers and filled the community with money worship. For nutrients and catalysts.
In addition, when the industry discusses the reasons for the prevalence of light luxury, what can not be ignored is the rise of the so-called middle-class stage, in which the high-income groups of consumers have been detached from the initial wealth of the luxury goods, and return to relative rationality is an important factor. However, BOTH believes that consumers' understanding of light luxury products is still in a certain misunderstanding, especially the blind pursuit of the hot brands in the market, and can not understand the value proposition behind the brand, so can not properly pick out the needs of their own hearts Clothing accessories. For example, the MichealKors brand embodies the American casual style, and Kate Spade uses the bold hues of vitality to express the beauty of the girl and fearlessness. These are often overlooked by consumers and the selected clothing cannot be reflected. Your own taste and opinion.
At the crossroads of China's light and luxury market, there is still a long way to go for either the seller or the buyer.
Balance the blend of Eastern and Western cultures
In the past 10 years, China’s social environment has undergone enormous changes. New generations of Chinese consumers are more assertive in expressing their personalities. BOTH's focus on China’s male intellectual elite not only possesses a more global vision and experience, but also cherishes the traditional essence of the nation. BOTH “summerizes the crossroads of eastern and western cultures” to summarize the characteristics of this group and balance It is their common characteristic. BOTH is to excavate the beauty of this culture.
Bain China also pointed out that Chinese consumers have demonstrated the dual nature of locality and globalization, which has brought unique challenges to light luxury brands. Based on a deep understanding of the Chinese cultural background, economic environment and the new generation of people, BOTH proposes to be the "least-sluggish brand that best understands and is most suitable for Chinese male intellectual elites". Both product design concepts and product quality are in line with Chinese intellectual elites. The values ​​and spiritual homes.
From this, BOTH puts forward the concept of “Matching Me”, that is, clothes can represent my connotation, and I find clothes that match my inner value. As an advocate of quality of life, BOTH truly meets everybody's inner self experience.
The link between China and the West
In order to be able to find products that carry the spirit of "together with one another," and to bridge the integration of Chinese and Western cultures, BOTH uses a dual-headquarters management approach, namely setting up headquarters in Shanghai, the capital of fashion, and London, respectively.
The dual-headquarters management method is the unique management feature of the BOTH brand. It is of utmost importance to the light and luxury brand integrated stores with the European selected brands as the core. It plays a role of “successful and inspiring” and built up Europe and the United States. The link between boutique brands and Chinese consumers. BOTH has established a strong international buyer team at its European headquarters. With their aesthetic vision in line with Eastern Philosophy, BOTH selects the emerging light luxury brands in the European market that are consistent with the spirit of BOTH and recognized by the international fashion circle. The hands team makes purchasing decisions based on the fusion of the aesthetics of things, and selects Chinese consumers' dresses suitable for the life of the intellectual elite.
Through innovative management methods, BOTH will be inspired by the spirit of the fusion of the mind and the table, expressed in each selected piece of clothing, which will also create a new coordinate of Chinese fashion.
In the post-luxury era, BOTH believes that China's male intellectual elites are more rational in their consumption of luxury goods. After the brand has been recognized, understood, and self-understanded, it will be more targeted to purchase. Tempered luxury goods, and the real penetration of this consumer behavior into a way of life, BOTH advocated the "living things together" light luxury era will also be opened.