Regardless of a wave of store closures from brands like Off-White and Trussardi, shifts in consumer mentality have carved out space for players that can fulfill Chinese shoppers' renewed stylistic needs.
“But we realized that an installation at a store is not enough. What’s more important is how these installation or community programs tie back to the brand and each of the retailers, VIP customers, or followers,” said Ng.
Initial brand building means maintaining a healthy relationship with seed customers, which includes local celebrities, influencers and VIPs, who will become an asset for niche players to help with organic growth.“The brands need to make these people feel like they are a part of the brand family, they are cared for, this is also an important attitude to communicate,” said Szeto.
When the brand sees enough traffic on social media and e-commerce sites like Tmall, there’s a window of time to establish a permanent retail presence in the market. “Normally, I would say if you reach 1 million euros in wholesale orders in China alone, you can consider finding a Taobao Partner company to set up a Tmall Global or Tmall Local online store,” said Ng.
“But if you don’t reach that amount, I would say don’t even think about it, because even though if you set it up, you know you end up spending a lot of money for digital and offline marketing. And you might not even see any sort of payoff,” he added.
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