Condé Nast China’s fashion industry media Vogue Business in China released the 2020 “New Fashion Capital Index Report” on November 21. The report provides practitioners with a reference for the ranking of China’s new generation fashion city index through the professional perspective of the fashion industry. This report firstly authoritative released this year, and a release summit was held in Chengdu.
The report aims to redefine the “fashion power” of Chinese cities from a new perspective, depicting the fashion landscape of China’s new generation of cities except Beijing, Shanghai, Guangzhou and Shenzhen, and provide a strong reference for industry practitioners to formulate future business development strategies.
This must-read “New Fashion Capital Index Report” was developed by Vogue Business in China and the world-renowned consulting firm EY-Parthenon. Through months of polishing the dimension setting and data calculation method, according to ” The five first-level dimensions of “fashion consumption strength”, “fashion business potential”, “fashion cultural charm”, “fashion innovation talents” and “fashion development ability” are important dimensions to conduct in-depth desk research and data analysis* for Chengdu, Chongqing, Xi’an, Shenyang, Hangzhou, Wuhan, Nanjing etc. (Twelve Chinese cities including Changsha, Xiamen, Tianjin, Qingdao, and Dalian).. In the end, Chengdu, Hangzhou and Chongqing’s composite index ranked top three in 2020. The report will be updated and released every year, continuously optimizing the index system and algorithm, and strive to become an authoritative report on urban research in the fashion industry.
Bao Yimin, the editorial director of Vogue Business in China, said: “In the past ten years, most fashion brands have captured the four major consumer cities, Beijing, Shanghai, Guangzhou and Shenzhen’. In order to get ready for the next step of expansion, you must truly understand China as a vast, densely populated, culturally diverse and complex market. Therefore, Vogue Business in China focuses this report on cities other than Beijing Shanghai, Guangzhou and Shenzhen’ to help brands understand the next echelon better, cities that also have strong consumption power and fashion potential.”
The 2020 “New Fashion Capital Index Report” launch summit is one of the most important events for Vogue Business in China in the past one year since it entered China. The event was held in the memory of the eastern suburbs of Chenghua District, Chengdu. The summit was hosted by Mr. Bao Yimin, the editorial director of Vogue Business in China, and discussed with industry experts, business and cultural leaders how the city can achieve new breakthroughs and usher in important development opportunities for the fashion industry. The event also deeply explored the diverse charms of Chengdu as the number one city in this report index, and what it is worth learning from.
The rules and difficulty of the game in the Chinese market are quietly changing. It is unrealistic for any brand or company to wish to maintain the status quo to maintain development. We believe that the changes in the Chinese fashion market in the next 10 years will be completely different from the situation in the previous 10 years, which also means that practitioners must have a new mindset, vision, pattern and strategic thinking to deepen the Chinese market.