Interface Fashion asked Chengdu IFS for verification, but no reply was received. However, according to informed sources, the above information is not completely accurate. Fendi did decorate the enclosure at the original dolce & gabbana store, but dolce & gabbana didn't leave Chengdu IFS, just changed the store.
At present, there are many luxury stores in Chengdu IFS, some of which are the first in the region and the whole country.
Chanel Chanel, Balenciaga and Balenciaga Moncler are all located in this shopping mall, which is the first store of the brand in central and western China. Earl, a luxury jewelry brand owned by Richemont Group, also opened the largest flagship store in China in Chengdu IFS.
For luxury brands, entering Chengdu IFS or Chengdu Ocean Taikooli not far away is an important step to enter the central and western markets of China. These two commercial places have also promoted the growth of luxury consumption and the development of consumption concepts in Chengdu, making it the "third city of fashion" after the North and Shanghai, and its symbolic significance is self-evident.
These two commercial real estate projects also attach great importance to investment promotion, especially for key shops. How to display the image of the project itself and even the whole business circle needs to be considered.
Therefore, dolce & gabbana is far away from shops along the street that can gain more exposure, which reflects its embarrassing situation in the luxury goods market in China.
Influenced by co-founder Stefano Gabbana's insulting remarks, dolce & gabbana's reputation in the China market fell to the bottom. The fashion show originally scheduled for 201811October 2 1 was temporarily cancelled, and e-commerce platforms such as Tmall, JD.COM and Temple Library also removed dolce & gabbana's products.
Subsequently, dolce & gabbana entered a period of silence. It was not until March 8, 20 19 that the brand Weibo resumed its operation through the node of Women's Day, while the official account of WeChat was suspended for nearly 8 months, and it was not until Tanabata that it posted again.
It is worth noting that when brands such as Coach, Givenchy and Versace were accused by netizens in August of the same year for misrepresenting the territory of China through clothing advertisements, dolce & gabbana was frequently mentioned, which became a typical case of western luxury brands' mistakes in the China market.
China consumers have not fully forgiven dolce & gabbana, and fashion magazines and bloggers are reluctant to give too much exposure. The "scandal of insulting China" has affected the real estate developers who are interested in dolce & gabbana or have leased their stores to dolce & gabbana, and the speed of opening stores in dolce & gabbana has also slowed down.
In April, 2020, dolce & gabbana's flagship store in Yintai Center of Beijing East Third Ring Road was officially closed, and the brand was no longer on the official brand list of shopping malls. Dolce & gabbana's store in Beijing Yintai opened on 20 1 1, which is one of the biggest flagship stores of the brand in Beijing. Prior to this, dolce & gabbana's store on Nanjing East Road was also closed and the large Logo outside the wall was removed.
However, with a series of personnel and strategic changes within the brand, dolce & gabbana also tried to revive its performance in the China market.
20 19 10, dolce & gabbana announced the appointment of Carlo Gariglio as the president and CEO of the Asia-Pacific region, with Shanghai and Hongkong as the main work bases. Stefano Gabbana and Domenico Dolce, the founders of the two brands, also expressed their expectation for the recovery of sales in China market when interviewed by the media.
The data shows that dolce & gabbana's revenue in the fiscal year ending March 20 19 was 138 billion euros, up 4.9% year-on-year. Europe is still the main market of the brand, and the proportion of sales contributed by the Asian market has dropped from 25% in the previous year to 22%.