Leglee's New Concept for Chinese Lingerie Boutiques

China's underwear market has been in a slump, how do you see this as an opportunity?
First of all, in terms of all luxury goods, designer clothing and accessories have been enjoying the fastest growth, with a minimum growth rate of 15%. Therefore, this segment is a great opportunity in China. Secondly, since 2010, Chinese attitudes have changed and are now more inclined towards unique, high-end brands. It's the same with lingerie. There are no high-end lingerie brands in the domestic market, and the midrange market was monopolized by foreign or local brands years ago. The truly exceptional foreign brands are at the margins of the Chinese market. Therefore, bringing some outstanding foreign brands into the center of the Chinese market is the only way to succeed.
What is your take on the current Chinese lingerie market?
Although market research shows that the luxury goods business in China is slowing, the lingerie sector is expected to grow by 18%. Chinese luxury lingerie consumption accounted for one-third of total industry turnover, or approximately 6 billion dollars from a total market of 20 billion dollars. Luxury lingerie sales in Asia surged by 40%, much of which came from Chinese consumers. We did a lot of research before we started this project. In two previous studies, a report showed that 130 million people were considered middle class in China, and the other one said that the number of middle-class people was 80 million. If we use the 80 million figure, this number includes both men and women – and most men's underwear is bought by women. If women account for one-third of the total middle-class population, that is at least 25 million consumers; these are our target customers. In Japan and Korea, women buy eight sets of lingerie per year, which is more than the typical Chinese woman. As demand increases, so will consumption.
What is Leglee's greatest advantage over competition?
Many shopping malls rank Leglee first among high-end lingerie retailers, but we still have much work to do. To be frank, we have no absolute advantage right now, but this will change in the future. In terms of brand portfolio and image, we are something new in China. We are confident for two reasons. One, our team has a great deal of high-end, multibrand retail experience. As a multibrand retailer, we have a lot of advantages over monobrand stores. Secondly, we have a strong presence in the country, in terms of branding and distribution networks.
How large are Leglee stores?
The smallest is 80 square meters and the biggest is 200 square meters.
Can you tell us more about Leglee's design concept?
A brand must always be reinventing itself, and I often tell our team the advantages of this process of change. Our aim is to show our customers the freedom and independence of the European woman. This romantic, elegant lifestyle is behind our store's design and branding. The European aristocratic lifestyle is not about money, but more about spirit, such as responsibility and the courage to sacrifice. We are more than just an intimate apparel store; we are a platform where our target consumer – the upper-class, elite, intellectual woman – can find her inner peace.