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欧州における格安衣料品の小売市場

Value Clothing in European Retail

発行	Datamonitor
出版日	2009年09月	商品コード	100877
ページ情報	英文 146 pages
価格	US$ 3,640 換算 ¥ 293,711 (税抜) PDF by E-mail (Single User License) US$ 9,100 換算 ¥ 734,279 (税抜) PDF by E-mail (Global Site License)

概要
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原文目次

Abstract

Introduction

We think that a massive shift in consumer behavior is under way we are witnessing the return to frugality and the fast fashion and value players are ideally positioned to exploit this with their proposition of cheap fashionability. Moreover as unemployment levels are set to rise to levels unimaginable a few years ago the hegemony of low price will become endemic.

Scope of this research

Proprietary data on market value, specialists sales and growth 2003 - 2008 data for each of the 27 EU countries.
Key data on total expenditure, selling space, store numbers, sales densities and per capita expenditure for each of the 27 EU countries.
Comprehensive profiles of C&A, H&M, Kiabi, New Look, Primark and TK Maxx with a detailed analysis of core strengths and weaknesses and future outlook
Detailed chapters on five core European clothing markets, with analysis of leading value players, recent developments and future outlook.

Research and analysis highlights

For European value clothing retailers it is recession boom time, as consumers find themselves slogging through the starkest economic landscape. We expect that the recession will end sometime in 2010 for the totality of the EU 27. That would make the current crisis the longest and probably deepest downturn since the Great Depression.

Value is a growing segment in a declining sector, as overall clothing volumes are down. Depressed consumer spending levels and dearth of credit availability in combination with anxious and unsettled clothing specialists will conspire to produce one of the worst years for the pan European clothing sector on record

As Tesco' s halo has slipped somewhat in the recession, Ireland' s Primark is set to take up the torch of sharpest and most feared retailer from the British Isles. A superb business model, strong growth, outstanding benchmarks and sales densities have struck fear into the hearts of its European rivals from C&A to Kiabi.

Key reasons to purchase this research

Identify the key trends and issues in clothing retail in Europe and design strategies to exploit opportunities and minimise risk.
Assess market potential and threats by accessing sector size data and seeing how consumers and retailers have reacted to recent economic turbulence.
Comprehensive profiles provide essential information on business models and performance measures both crucial for benchmarking businesses.

EXECUTIVE SUMMARY

It is recession boom time for European value clothing retailers,
Consumers trading down as a reaction to the recession means that every retail proposition with a strong and deep value focus should do well.
Value is a growing segment in a declining sector, as overall clothing volumes are down.
However in recessionary times the value players will have to contend with strong discounting from middle market players
As Tesco' s halo has slipped somewhat in the recession, Ireland' s Primark is set to take up the torch of sharpest and most feared retailer from the British Isles.
The fashionability and the focus on a young demographic are perhaps Primark' s unique selling points and something much of the competition obviously lacks - with perhaps the exception of H&M.
The harsh lesson UK fashion multiples had to learn in recent years stands to be repeated across the continent.
Indeed C&A' s capitulation of its Avanti fascia makes us unsure about the retailer' s future prospects altogether,
As such the race between ABF' s Primark and C&A' s Avanti to conquer the European value clothing market has come to a premature conclusion.
Kik and Takko look the most interesting competitors to Primark for the young value fashion crown
H&M need to focus on l-f-l growth.
TKMaxx is a class apart, as it operates a different business model without a dedicated private label line.
That said, Primark and the value fashion retailers in general need to focus their efforts on ethical issues as clothing retailing in consumers' perception has become holistic.
For the value players strategic decisions need to be made about store locations, and management will have to choose between offensive and defensive tactics in terms of expansion abroad also.
Another key decision will have to be taken about foreign expansion.
Now is the time to grow and the value clothing specialists should not sit idly by while the hypermarkets and grocery discounters battle it out amongst themselves at the value end of the market.

CLOTHING MARKET STRUCTURE

First major fall in a decade in EU27 clothing expenditure
- Per capita figures demonstrate catch up potential of newer member states
Specialists sales follow downward trend
Specialists space growth stagnates
Pressure on sales densities builds
Store numbers continue long term decline
Average sales per specialist clothing store in EU about to reach € 500,000 ...
... while specialist clothing store average sizes spanned 156sq m range in 2008

STRATEGIC ISSUES

Economic picture - GDP crawls back up
Euro interest rate remains at historic lows
No sign of inflation yet
Unemployment time bomb
Massive opportunity for EU value players
Internationalisation and emergence of pan-European value clothing retailers
Diverse strategies stretch value model
Migration online and multichannel development
Non-specialists - from Aldi to Tesco - threaten specialist value players
Discounting - more competition on low cost front
Ethical concerns and the environmental implications of throwaway fashion

FRANCE

Potential for value chains to grow and consolidate
Recent key events
- Varying growth strategies for French value chains
Outlook - value chains will expand long term regardless of midmarket discounts
- (Untitled sub-section)

GERMANY

Value clothing sales grow robustly
Recent key events
- C&A pulls Avanti out of race
Outlook - competition in value clothing will increase
Kik and Takko expand in town centers and shopping malls
- (Untitled sub-section)

ITALY

Discretionary cutbacks
Recent key events
- (Untitled sub-section)
Outlook - expect more M&A activity post-recession

SPAIN

Severe economic downturn takes toll
Recent key events
- (Untitled sub-section)
Outlook - fast fashion value (like Primark) appeals to Spaniards in financial tough times
- (Untitled sub-section)

UK

Value clothing well established and highly competitive
Recent key events
- (Untitled sub-section)
Outlook - low cost operators with scale will prevail
- (Untitled sub-section)

COMPANY COMPARISONS

Sales
Value positioning
- Primark top
Stores
- New Look catches up
Sales densities slip
- But Primark stays top

C&A

Shuts down Avanti value fast fashion format in Germany and Poland
- Avanti
- Sourcing
Recent key events
- Avanti throws in the towel
Financials
Stores
Outlook - C&A format needs continual development for mature markets
- (Untitled sub-section)

H&M

Global fashion retailer
Recent key events
- (Untitled sub-section)
Financials
- Current trading
Stores
Outlook - closes on Inditex by targeting new customer groups
- (Untitled sub-section)

KIABI

France' s leading value clothing retailer focuses on Europe
Recent key events
- Acquires 100 Veti stores
Financials
Stores
Outlook - a serious threat to C&A and Primark?
- (Untitled sub-section)

NEW LOOK

Develops beyond EU through franchises
Recent key events
- (Untitled sub-section)
Financials
Stores
Outlook - under pressure from weak sterling
(Untitled sub-section)

PRIMARK

Density towers over rivals
Recent key events
- (Untitled sub-section)
Financials
- Group 24 weeks ended February 28, 2009
- UK year to September 2008
- UK 40 weeks to June 20, 2009
Stores
Outlook - needs to manage ethical stance more proactively
- (Untitled sub-section)

TK MAXX

Flight to value plays into TK Maxx' hands
Recent key events
- (Untitled sub-section)
Financials
Stores
Outlook - now is the time to break into Europe
- (Untitled sub-section)

APPENDIX

Definitions
- Value clothing market definition 2009
Glossary
Abbreviations
Financial statistics - VAT
Source - Verdict Research
Verdict Research consulting
Disclaimer

TABLES

Table: EU clothing expenditure (€ m) by country 2003-2008
Table: EU clothing expenditure growth rates by country 2003-2008e
Table: EU27 clothing expenditure ranking matrix 2008
Table: Sales through specialist clothing retailers of EU27 2003-2008e
Table: Clothing s pecialists sales growth rates by country EU27 2003-2008e
Table: EU27 clothing specialists sales ranking matrix 2008
Table: Clothing specialists selling space (000 sq m) estimates by country 2003-2008e
Table: C lothing specialists space growth by country 2003-2008e
Table: EU27 c lothing specialists selling space ranking matrix 2008
Table: EU27 clothing specialists store numbers estimates by country 2003-2008
Table: EU27 clothing specialists estimated store numbers by country 2003-2008
Table: EU27 clothing specialists store numbers ranking matrix 2008
Table: Latest GDP data August 2009
Table: Monthly HICP rates y-o-y Jan-Jul 2009
Table: Monthly unemployment rates y-o-y Jan 2009-Jun 2009
Table: Value clothing market definition 2009
Table: A selection of European value clothing retailers EU27 store portfolios - summer 2009
Table: French clothing expenditure and value retailers sales 2003-2008
Table: German clothing expenditure and value retailers sales 2003-2008
Table: Italian clothing expenditure and value retailers sales 2003-2008
Table: Spanish clothing expenditure and value retailers sales 2003-2008
Table: UK clothing expenditure and value retailers sales 2003-2008
Table: Leading European value clothing retailers sales (ex VAT) 2008/09
Table: Leading European value clothing retailers stores and space 2008/09
Table: C&A company overview 2009
Table: C&A benchmarks in EU27 year ended February 2008 and 2009
Table: C&A trading record 2004-2009
Table: C&A EU trading record by country 2007/08 and 2008/09
Table: C&A European store portfolio February 2009
Table: H&M company overview 2009
Table: H&M benchmarks in EU27 year ended November 2007 and 2008
Table: H&M trading record (SEKm) 2004-2008
Table: H&M trading record (€ m) 2004-2008
Table: H&M sales by country (SEKm) 2007 and 2008
Table: H&M net sales by country (€ m) 2007 and 2008
Table: H&M store portfolio 2007 and 2008
Table: Kiabi company overview 2009
Table: Kiabi benchmarks year ended December 2007 and 2008
Table: Kiabi trading record 2003-2008
Table: Kiabi store portfolio 2002-2008
Table: Kiabi store portfolio country split Dec 2008 and April 2009
Table: New Look company overview 2009
Table: New Look benchmarks (EU only) year ended March 2008 and 2009
Table: NNew Look Group trading record 2004-2009
Table: New Look Group sales changes % by country 2004-2009
Table: New Look Group trading record by country 2004-2009
Table: New Look group store portfolio 2007-2009
Table: New Look sales area by country (000 sq m) 2007-2009
Table: Primark company overview 2008
Table: Primark benchmarks years 2007-2008
Table: Primark EU trading record (£) 03-2008
Table: Primark EU trading record (€ ) 2003-2008
Table: Primark UK trading record 1999-2009e
Table: Primark UK trading record 2002-2008 in €
Table: Primark store portfolio as at March 2008 and June 2009
Table: Primark selling space provision 2008 and 2009
Table: Primark UK store portfolio 1999-2009e
Table: TK Maxx company overview 2009
Table: TK Maxx benchmarks in EU year ended January 2008 and 2009
Table: TK Maxx EU trading record year to January 2004-2009
Table: TK Maxx EU trading record by country 2006/07-2008/09
Table: TK Maxx store portfolio 2004-2009

FIGURES

Figure: EU27 clothing expenditure per capita 2008e
Figure: EU27 clothing specialists sales density estimates in € per sq m 2008e
Figure: EU27 sales per specialist clothing store in € 000 2008e
Figure: EU27 specialist clothing store average size (sq m) 2008
Figure: ECB interest rates 2006-2009
Figure: EU value clothing market 2008
Figure: Value clothing retailers pan-European presence 2009
Figure: Kiabi, Russia 2009
Figure: Takko, Bratislava, Slovakia 2009
Figure: Internationalisation of clothing retailers 2009
Figure: Economics of moda low cost 2009
Figure: Sainsbury' s TU clothing 2009
Figure: Midmarket clothing retailers discounting in Europe, spring 2009
Figure: European value clothing retailers environmental initiatives 2009
Figure: European value clothing retailers labour and production initiatives 2009
Figure: French clothing expenditure and value retailers sales 2003-2008
Figure: C&A, Calais, France 2008
Figure: La Halle new store layout, Maurepas France 2009 - emphasis on the price
Figure: La Halle new store layout, Maurepas France 2009 - large signage emphasizng the price
Figure: Pimkie, Calais, France 2008
Figure: German clothing expenditure and value retailers sales 2003-2008
Figure: Kik, Dusseldorf 2007
Figure: Takko, 2009
Figure: Italian clothing expenditure and value retailers sales 2003-2008
Figure: OVSindustry new concept store, Mestre C.C. Le Barche 2009
Figure: OVSindustry new instore layout, Mestre C.C. Le Barche 2009
Figure: Spanish clothing expenditure and value retailers sales 2003-2008
Figure: Koodza, Olias del Rey, Spain 2009
Figure: UK clothing expenditure and value retailers sales 2003-2008
Figure: Leading European value clothing retailers by positioning and countries 2009
Figure: Leading European value clothing retailers sales densities 2007/08 and 2008/09
Figure: Yessica, C&A, Rotterdam, NL 2009
Figure: C&A, Geneva, Switzerland 2009
Figure: H&M, Prague, Czech Republic 2009

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