The Overall Growth Of Brand Apparel Industry In The Second Half Is Not Optimistic.

< p > for the second half of the year, < a target= "_blank" href= "//www.sjfzxm.com/" > textile > /a > a target= "_blank" href= "_blank" > clothing > industry trend, Cheng Yuan, head of the textile and Garment Group, light industry papermaking group and Turisthotellet group, believes that because of the expected macro-economic downturn this year, "brand", "brand", "brand" and "brand clothing" as consumer goods with a certain elasticity, it is expected that terminal consumption will be more obviously inhibited.

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< p > inventory and accounts receivable of listed companies are in the worst state in recent years. From informal research, inventory problems at dealer level are also serious.

In the current weak demand, higher inventory and tighter funds, it is expected that the overall growth of the brand apparel industry in the second half of the year is not optimistic, and the industry will have no chance of trend.

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< p > but from the valuation point of view, Cheng Yuan believes that the valuation level is at the lowest level in the historical industry. The degree of downvaluation of the valuation center is far greater than that of the average growth rate of the industry in the next 3-5 years.

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< p > from the comparison with the international market, the valuation of brand clothing in China has been much higher than that of other major economies in the world in the past few years, and suddenly slipped to the international average level or even below the international average level. However, whether from the growth rate of the industry or the growth rate of the listed companies, the domestic market is obviously better than the international market. Therefore, it is considered that although the industry demand is in the doldrums, the valuation is safer and the downward space is not large.

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< p > in the condition of low consumption but low overall industry valuation, we think that we should look for sub sectors and locate companies with special characteristics and still have higher growth.

Currently optimistic about outdoor products industry, the second half of the main target for the Pathfinder.

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< p > we think that China's per capita GDP is climbing from 5000 to 10 thousand US dollars, and the consumption structure is in the rising stage of leisure consumption.

We have judged that the mass outdoors can expand rapidly at this stage. The industry will still grow in the next five years, and the domestic outdoor goods market will be able to grow from 14 billion 500 million to 400-500 billion, corresponding to an annual increase of 30%.

The two or three line will be the largest incremental market, and the market space will further expand with the development of outdoor development and diversification of demand.

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