La Chapelle, the Hong Kong-based fashion label, has had poor 9 months with its sales slumping by nearly 19 per cent year-on-year.
What’s more worrying is that despite being priced at lower end, the shoppers have, reportedly, found its products uninspiring and dull.
The numbers show the fast receding popularity!
La Chapelle Group’s revenue for first 3 quarters was US $ 817 million, which is a fall of US $ 189 million from what it was during the same period last year (US $ 1.005 billion).
Even the two-storey flagship store that the retailer had built last year in Ho Chi Minh City was shut down in just 3 months. Reportedly, the Vietnamese shoppers too found the products outdated and dull. Some even found the clothes ‘shapeless’.
Notably, sales at standalone stores too slumped by 9.7 per cent, through concession counters in department stores by 30.8 per cent and online by 35.6 per cent.
However, Xing Jiaxing, Chairman, La Chapelle, said that the slump was owing to decrease in store traffic and slow growth in the consumption of entire apparel industry.
Xing also said that in the last quarter, the focus will be on minimising the cost and increasing the efficiency.
