With the rapid development of domestic brands and the rise of a new generation of consumers, the fashion industry has shown its strong driving force for economic growth. In 2022, the fashion industry has a good momentum of development. After a new round of reshuffle, new brands, new models and new channels are constantly rewriting the market competition pattern, and the fashion industry in China is constantly improving the right to speak about fashion.
In 2022, the beauty industry is still moving forward under pressure in the face of market shocks. During the year, the integration of the beauty industry accelerated, and some sub-tracks showed strong growth. According to incomplete statistics, in 2022, there were 19 domestic beauty-related enterprises with listing actions, including entering the listing counseling period, submitting the prospectus, meeting, passing the hearing and listing.
The clothing industry is facing multiple challenges. With the gradual recovery of the consumer market, the overall operation of the clothing industry is stabilizing and recovering, and the performance of domestic sports brands is relatively strong.
When a new journey is started in 2023, we will review the changes that have occurred in the industry in the past year, quickly resume the fashion industry in 2022 with some key words, and explore the future development trends and opportunities.
New regulations on cosmetics supervision released
Since January 1, 2022, the Regulations on the Supervision and Administration of Children’s Cosmetics (hereinafter referred to as the Regulations) has been officially implemented, which is the first regulatory document specifically for children’s cosmetics in China. For the first time, the Regulations make it clear that children’s cosmetics are cosmetics that are suitable for children under the age of 12 (including 12 years old) and have the functions of cleaning, moisturizing, refreshing and sun protection. The "Regulations" require cosmetics packaging to be marked with signs prescribed by the State Food and Drug Administration; In addition, the formula of children’s cosmetics is not allowed to use raw materials for freckle whitening, acne removal, hair removal, deodorization, dandruff prevention, hair dyeing, perm and so on.
With the implementation of the new cosmetics regulation of China, a series of supporting regulations have been issued one after another, providing important guidance for the industry. "Good Manufacturing Practices for Cosmetics" (hereinafter referred to as "Standards") shall come into force on July 1, 2022. This standard is an important normative document of the Regulations on the Supervision and Administration of Cosmetics, and it is also the institutional basis and cornerstone of the quality management of cosmetics production. A separate chapter on "Management of Entrusted Production" is set up in the Code, which puts forward requirements for the main conditions of the registered person and the filing person (hereinafter referred to as the entrusting party) of entrusted production, the management of the entrusted production enterprises, the establishment and implementation of the management system, etc.
The "Inspection Points and Judgment Principles of Cosmetic Production Quality Management Standards" will come into force on December 1, 2022. The inspection points include the inspection and judgment principles of the quality management norms of cosmetics production and the inspection points of the actual production version and the entrusted production version. Generally speaking, the implementation of this regulation will further standardize the quality management of cosmetics production and accelerate the reshuffle process of the industry.
Domestic beauty cosmetics impact IPO listing
On December 22, 2022, Shanghai Shangmei Cosmetics Co., Ltd. (hereinafter referred to as Shangmei) was listed on the Hong Kong Stock Exchange, which attracted the attention of the whole industry. With the birth of "the first share of domestic beauty products in Hong Kong stocks", the listing tide of beauty companies in 2022 also drew a full stop.
Among the many beauty-related companies seeking to go public this year, not only medical beauty or skin care brands such as Juzi Bio, Aimeike and Shangmei Group, but also daily chemical brands such as Weimeizi, the parent company of Shuke, Denkang Dental, the parent company of Lengsuanling, and beauty supply chain enterprises such as Bawei and Zhongrong Printing, as well as beauty e-commerce companies such as Laramie and Aoki.
However, behind the booming capital market, there are still many industry problems to be solved. These star skin care and beauty companies often rely on flagship brands for their revenue and make every effort to create explosive items. The development idea of focusing on marketing and neglecting R&D needs to be reversed.
Sustainable fashion has become the mainstream.
Nowadays, the requirements of fashion circle for brand sustainable development are not only to pay attention to environmental pollution in fashion design, production, sales and recycling, but also to explore the use of sustainable materials, including labor treatment, animal welfare and so on, and even a set of specific and meticulous industry standards, involving zero waste show building, zero destruction of unsold goods and many other aspects.
With the rise of low-carbon concept, the "circular fashion" that allows fashion products to circulate and circulate twice at the consumer end has become a new increase that cannot be ignored in the consumer market. Kering released the report "Realizing the Whole Cycle", outlining the grand vision of the Group for the comprehensive cycle development method; Xtep Group released ESG report and announced the 10-year sustainable development plan; Pernod Ricard helps the Climate Competition and Tsinghua SDG Research Institute to create a sustainable future … Energy saving, emission reduction and sustainable development are not optional but necessary for many China brands determined to go global.
The tide flashed out to sea.
With the strong support of the state to inherit and carry forward traditional culture, the tide of the country has risen, and traditional and emerging domestic brands have continued to accumulate strength and shine. Hailien, a contact lens brand, wrote The Book of Songs into Cosmetic Contact Lenses products. Bama Tea joined hands with "National Treasure" IP to launch a joint tea ceremony; Hua Xizi refined and released modern China makeup elements of "slender eyebrows, under-eye color and beaded lips"; Mao Geping and the Palace Museum jointly launched a variety of make-up products, etc. More and more domestic brands are deeply rooted in the cultural core, giving off new vitality and driving new consumption trends. Domestic brands have become the darling of new consumption, and have gone abroad to open overseas markets. Overseas sales of beauty brands such as Huaxizi, Perfect Diary and ZEESEA Zise are outstanding; Silk brand Lilysilk, underwear brand inside and outside, down jacket brand Bosideng, etc. have achieved three growth in traffic, transformation and brand through marketing on platforms such as Google, Facebook, Instagram and YouTube, and occupied a place in the international market.
The fashion meta-universe breaks through the meta-explosion.
In 2022, the concept of "meta-universe" was hot, and beauty brands entered the market one after another, through cross-border co-branding, cross-border endorsement and creating their own brand virtual characters IP. Elf Makeup announced that the virtual singer Ha Jiang became the manager of its cross-dimensional tidal makeup, and launched the topic of "AI roaming makeup" to start the cross-dimensional tidal makeup plan. Many brands, such as Nature Hall, Charm MAC, Secret Language of Water, and the skin of CODEMINT Wan, joined hands with digital virtual human AYAYI to speak for the beauty of the meta-universe. At the same time, many brands also launched their own brand virtual images, and Hua Xizi launched the brand virtual spokesperson "Hua Xizi"; "Sister M" and "Ou Ye" created by L ‘Oré al. In the field of fashion, virtual concepts are also popular. Virtual clothing brands such as METACHI and LIV IN OASIS entered the market. In addition to traditional fashion brands, more independent platforms and brands focusing on virtual fashion have emerged. Such as Mo, DressX, Tribute Brand, RTFKT and other brands, through cooperation with fashion brands, designers and technology companies, explore more possibilities of virtual clothing. "Virtual fashion" has continuously entered the public’s field of vision, and the virtual SHOW has subverted the original fashion field of vision. The 2022 CFW "Broken Dimension Show" virtual show has become the first fashion meta-universe show in China. For the first time in China, Daxiu has realized a closed-loop new ecology of "fashion meta-universe" integrating virtual show release, virtual clothing display, digital collection sales and entity virtual synchronous marketing.
Cosmetics set off a wave of research and development
In 2022, the cosmetics industry focused on hard power, and scientific research and development became the main color. Cosmetic brands at home and abroad set off a wave of research and development. In terms of foreign brands, Beiersdorf, Germany, landed in Shanghai as the second largest innovation research center in the world; Shiseido opened its third research and development institution in China, focusing on the latest trends in the China market and developing cutting-edge cosmetics technology; L ‘Oré al China established the first "Academician Expert Workstation" jointly established by the world’s top 500 foreign-funded enterprises and the team of academicians from China; P&G set up a P&G technology innovation company focusing on digital transformation. Domestic cosmetics brands are also actively engaged in scientific research. Huaxikou cooperated with Peony Skin Care Science Research Center and Beijing Key Laboratory of Plant Resources Research and Development, and established Huaxikou Innovation Research Institute of Chihuatun Chuangmei Center in conjunction with natural raw material supplier Givaudan. Shangmei Group has set up its own research team overseas, set up factories and studied pure beauty. Yunnan Baiyao’s medicinal plant skin care brand Caizhiji joined 14 universities and research institutes to set up the "Medicinal Plant Research Laboratory". Cosmetic brands such as Huanya, Polaiya, Shuiyang, Marubi, etc. have cast olive branches to Shuobo scientific research talents and set up the position of chief scientist. The cosmetic industry has entered the era of science-driven.
Fashion fa Li bing Xue racetrack
Since the Beijing Winter Olympics was held, sports have become more and more fashionable. In addition to the large-scale sports down jacket "planting grass on the field", a group of athletes including Gu Ailing have also gained many fashion endorsements. At the same time, major luxury brands have begun to force the ice and snow track. In 2021 alone, many fashion brands rushed to launch their own "ski line" products, which also became the brand’s "traffic password" in winter. From CHANEL, DIOR, Louis Vuitton, Prada to Tory Burch and Coach, most luxury brands or luxury brands you can think of have entered the market. In addition to related ice and snow sports equipment, KAWS erected a giant snow sculpture in Changbai Mountain, FENDI CAFFE opened a brand flash space and FENDI CAFFE limited time coffee shop in Changbai Mountain, and Burberry opened a pop-up shop in Songhua Lake … The ice and snow battle of fashion brands has entered a white-hot stage in domestic ski resorts.
Luxury goods welcome the tide of price increase again
Luxury goods have gone up again. With the beginning of the N wave of price increase after the epidemic, at the end of 2022, the news of price increase of luxury brands such as Chanel and Hermes began to be screened. Take Chanel as an example, Chanel experienced a round of surge during the epidemic, with a variety of bags increasing by 5%-6%. Among them, the price of CF series rose above 50,000 for the first time at the end of 2020, and continued to break 60,000 at the end of 2021. At the beginning of November 2022, Chanel began a new price increase. Among them, CF series small classic handbags rose from 58,600 to 61,900, medium handbags rose from 62,700 to 66,500, and the price of large handbags broke 70,000 for the first time, rising from 67,500 to 71,000. Hermè s, which is firmly in the first echelon, also announced a price increase, and plans to raise the global product price by 5% to 10% in 2023.
Fashion wave under camping economy
In the past two years, outdoor camping has become one of the most popular "micro-vacation" games. The fierceness of camping tourism has driven the consumption demand of outdoor products, and at the same time, it has begun to affect people’s choice of wearing-"camping style" and "sense of relaxation" have become people’s fashion keywords. When the performance of many listed clothing companies generally declined, domestic sports brands rose against the trend. According to the data of China Research Institute of Industry, in 2022, the sportswear market in China will reach 438.4 billion yuan. All kinds of outdoor clothes have become people’s daily choices, and the wearing styles such as "mountain wear" and "urban outdoor tide" have risen. Yoga pants become autumn pants, jackets carry strong winds, you can take off your coat to keep fit, and you can commute when you put it on. Traditional sports clothes are changing to fashionable clothes. On the other hand, more and more brands begin to emphasize the sense of science and technology of products, highlighting various functions such as thinness, windproof, intelligent temperature locking and antifouling.
Consumption upgrade of children’s wear market
With the consumption upgrading, children’s wear, a sub-industry, shows the characteristics of gradually diversified product demand. Under the impact of various emerging consumption concepts such as "functionality", "face value economy" and "IP class" on the market, the cultural and social attributes of children’s wear have been further improved, and the design of major brands has become more functional and fashionable.
The rapid growth of children’s wear market in 2022 is particularly eye-catching, and it has become a new growth field in the development of clothing industry. With the maturity of consumption concept, consumers’ sensitivity to brands will gradually increase and their sensitivity to prices will decrease. With the gradual maturity of children’s market, competition will also extend from products, prices and marketing methods to technology research and development, brand service and other dimensions.
(xinhuanet)
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