(Yicai Global) July 29 -- Heilan Home Co. [SHA:600398], a menswear provider, is diversifying into women's fashion to outmaneuver the recession in the menswear market, a senior manager said.
It is difficult to rebuild an image in customers' minds, Mr. Cheng Weixiong, an expert in the apparel industry, told Yicai Global. Future data will tell whether the brand succeeds.
Many other menswear brands are following suit. Women's clothing has more variety, shorter life cycles and faster turnover than menswear.
Heilan has a design team with 200 staff and also partners with many design companies offering them 40 percent of gross profits to encourage performance,
Mr. Xue Danqing from the securities company representing Heilan Home said.
Many old-brand fashion firms have been struggling in recent years. Founded in 1997, the Jiangyin-based company shifted its focus towards younger consumers when sales revenue started to drop in 2012 and 2013. Since last year, fashionable products have made up 50 percent of its clothing.