“Shanghai is one of the largest and most fiercely competitive markets for mothers and babies in China. We plan to open 20 children theme malls in Shanghai in the next three years, with a total business area of ​​150,000 square meters and an annual sales scale of 1.5 billion yuan.†Xu Weihong Said.
The “King of Kings†chain of retail stores is accelerating its expansion. On June 16, Nanjing Kid King Industrial Co., Ltd. officially opened its Shanghai Hengshun Plaza shop in Minhang District. According to Xu Weihong, general manager of the company, the store opened more than 5,000 square meters, and it will open five such stores in Shanghai during the year. In the next three years, it plans to open 20 children theme malls in Shanghai.
Analysts in the industry believe that with the increasingly fierce competition in the children's wear market, marketing channels are also changing. In order to establish a brand and to manage customer relationships, there will be more rents for children's clothing companies, which will lead to the introduction of a business model Children's wear industry.
20 stores to open in the next 3 years
“Shanghai is one of the largest and most fiercely competitive markets for mothers and babies in China. We plan to open 20 children theme malls in Shanghai in the next three years, with a total business area of ​​150,000 square meters and an annual sales scale of 1.5 billion yuan.†Xu Weihong Said.
“Kids King†is a new venture created by Wu Jiangxing’s founder Wang Jianguo who gave up Five Star Electric to Best Buy in the United States. In December 2009, the King of Children opened its first store in Nanjing Wanda Plaza. As of May this year, the King of Children has opened seven stores in Hefei, Huai'an, Chongqing, Yancheng and Changzhou.
This reporter learned that, in addition to the layout of the overseas, "Kids King" this year will also open 11 stores in Changzhou, Nanjing, Chongqing, Wuxi, Chengdu and other cities. By the end of 2014, 50 brand flagship stores and a number of boutiques were opened in the country. And in key cities to promote the city with multiple stores, intensive development, such as Shanghai, Nanjing, Chongqing, Chengdu and other target areas of the provincial capital, the number of planned stores in more than five.
Prior to this, Wang Jianguo once told the media that the mother-child industry in China will maintain an annual growth rate of 20%-30%, and the industry's average profit margin will be around 30%. It is estimated that by 2015, the demand for the mother-child baby market in China will reach 2 trillion yuan. He believes that the king's advantage lies in the combination of chain experience and retail experience.
Children's clothing business "big shop model"
The reporter learned that the children’s business opened in Shanghai has more than 5,000 square meters of business area. Previously, the king had seven stores in the country. The single store area is also about 20 times larger than the average maternal and infant store, between 5,000 square meters and 12,000 square meters, and the number of in-store products reaches 20,000 to 30,000, providing costumes for home textiles, food, supplies, toys, etc. In addition to the station service, a baby swimming pool/temporary feeding area/baby photography shop will be provided in the shop.
A child apparel industry insiders said that in the children's wear industry, such large stores are rare. The industry generally believes that more than 100 square meters of children's clothing is a big store, and more than 300 square meters can be regarded as a flagship store, and more storefront area is within 50 square meters.
"The children's clothing industry rarely sets up big stores, mainly because of high rents and low level of pressure." The industry analyst said that with the increasingly fierce competition in the industry, the need to establish a brand image and maintain customer relations, Some children's clothing companies have started to set up big stores.
However, in Xu Weihong's view, the operating pressure of the big store model is not as large as it seems. “At present, a non-service store has a revenue of about RMB 100 million a year, and the income from service-related stores is more than 50% higher. The kid’s king opened an 8,000-square-meter shop in Nanjing and opened only 5 months to recover the cost." He said.
Analysts in the industry believe that with the increasingly fierce competition in the children's wear market, marketing channels are also changing. In order to establish a brand and to manage customer relationships, there will be more rents for children's clothing companies, which will lead to the introduction of a business model Children's wear industry.
20 stores to open in the next 3 years
“Shanghai is one of the largest and most fiercely competitive markets for mothers and babies in China. We plan to open 20 children theme malls in Shanghai in the next three years, with a total business area of ​​150,000 square meters and an annual sales scale of 1.5 billion yuan.†Xu Weihong Said.
“Kids King†is a new venture created by Wu Jiangxing’s founder Wang Jianguo who gave up Five Star Electric to Best Buy in the United States. In December 2009, the King of Children opened its first store in Nanjing Wanda Plaza. As of May this year, the King of Children has opened seven stores in Hefei, Huai'an, Chongqing, Yancheng and Changzhou.
This reporter learned that, in addition to the layout of the overseas, "Kids King" this year will also open 11 stores in Changzhou, Nanjing, Chongqing, Wuxi, Chengdu and other cities. By the end of 2014, 50 brand flagship stores and a number of boutiques were opened in the country. And in key cities to promote the city with multiple stores, intensive development, such as Shanghai, Nanjing, Chongqing, Chengdu and other target areas of the provincial capital, the number of planned stores in more than five.
Prior to this, Wang Jianguo once told the media that the mother-child industry in China will maintain an annual growth rate of 20%-30%, and the industry's average profit margin will be around 30%. It is estimated that by 2015, the demand for the mother-child baby market in China will reach 2 trillion yuan. He believes that the king's advantage lies in the combination of chain experience and retail experience.
Children's clothing business "big shop model"
The reporter learned that the children’s business opened in Shanghai has more than 5,000 square meters of business area. Previously, the king had seven stores in the country. The single store area is also about 20 times larger than the average maternal and infant store, between 5,000 square meters and 12,000 square meters, and the number of in-store products reaches 20,000 to 30,000, providing costumes for home textiles, food, supplies, toys, etc. In addition to the station service, a baby swimming pool/temporary feeding area/baby photography shop will be provided in the shop.
A child apparel industry insiders said that in the children's wear industry, such large stores are rare. The industry generally believes that more than 100 square meters of children's clothing is a big store, and more than 300 square meters can be regarded as a flagship store, and more storefront area is within 50 square meters.
"The children's clothing industry rarely sets up big stores, mainly because of high rents and low level of pressure." The industry analyst said that with the increasingly fierce competition in the industry, the need to establish a brand image and maintain customer relations, Some children's clothing companies have started to set up big stores.
However, in Xu Weihong's view, the operating pressure of the big store model is not as large as it seems. “At present, a non-service store has a revenue of about RMB 100 million a year, and the income from service-related stores is more than 50% higher. The kid’s king opened an 8,000-square-meter shop in Nanjing and opened only 5 months to recover the cost." He said.
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