Superdry set to exit Mainland China
by Inside Retail Asia
This article was originally published in Inside Retail Asia.
British clothing label Superdry is set to quit the Mainland China market after five years of mounting losses.
Several Chinese-language fashion industry news channels on the mainland are reporting clearance sales in Superdry stores – a rare event in itself – with merchandise discounted by 25 or 30 per cent.
A staff member of a Superdry Xiamen store told Interface Fashion that sold stock was not being replenished. “We have received a notice from the Shanghai company that we will withdraw from the Chinese market in July,” she said, in a comment translated from traditional Chinese.
News of Superdry’s withdrawal from Mainland China was confirmed by Azoya, which monitors multiple Chinese-language sources, in a LinkedIn post overnight. Azoya said steep discounts of the brand’s merchandise were also being offered on e-commerce platforms such as Tmall, JD and Vipshop. Read More Inside Retail Aisa