Fosun added Cheap Sexy Lingerie brand Wolford to luxury shopping spree

On March 2, 2013, Reuters reported that China Fosun Group, Fosun, will acquire the controlling stake in the Austrian luxury Cheap Sexy Lingerie brand Wolfowitz. Wolfowitz opened a flagship store in Shanghai in 2013, with leggings priced at as much as $ 350.

Fosun not only paid 50.9% of the shares of 33 million euros (40 million U.S. dollars) to Wolfford, but added 22 million euros as part of its capital increase. They also buy other shareholders for 13.67 euros per share. The deal shortly after the deal between Fosun and La Perla came to a standstill.

In the past few months, Chinese companies have been actively acquiring fashion brands. It is reported that in early February, Shandong Ruyi, one of China’s largest textile producers, acquired the Swiss apparel brand Bally and negotiated with Sir Philip Green to acquire Arcadia, which owns Topshop. At the end of last year, the United States Group acquired the Rainbow Group’s controlling stake in Macau while Septwolves acquired 80% of Karl Lagerfeld Greater China Holdings (KLGC), which owns the Karl Lagerfeld trademark, worth 36 million U.S. dollars.

Foreign luxury brand Cheap Sexy Lingerie brand is also more and more optimistic about China. Last spring, La Perla hired Liu Wen as the first Chinese ambassador and opened four flagship stores in China. Victoria’s secret also joined the battle, last year opened its first flagship store in Shanghai.

However, Fosun’s latest acquisition marks a shift in the luxury market, the first acquisition by Chinese companies of Western luxury Cheap Sexy Lingerie brands.

In the past, Chinese were more likely to buy luxury bags or clothes that would allow them to show off to their family and friends instead of things like Cheap Sexy Lingerie, which would be the case for a woman or her romantic partner. This has begun to change.

Chole Reuter, co-founder of The Luxury Conversation, told the Kyoto Daily in New York last month that the millennial Chinese are now focusing more on luxury lifestyle than just logos and brand names. Cheap Sexy Lingerie is a luxury to enjoy rather than too prominent.

In 2016, Euromonitor predicts that the retail sales of the Chinese women’s lingerie market by 2017 are expected to reach 25 billion U.S. dollars, twice the U.S. figure and to reach 33 billion U.S. dollars by 2020.

It is worth noting that although most Chinese consumers are familiar with the secrets of Victoria in the United States, Italy’s La Perla and Germany’s triumphal, but several well-known domestic luxury brand Cheap Sexy Lingerie brands such as Gujin, Embry and Aimer in the market Dominant. Compared with other luxury goods, foreign lingerie brand expansion to China has just begun.