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Ereli released 09-10 years clothing online shopping report VANCL two largest enterprises into the dark horse
On September 27, 2009, iResearch officially released its "2009-2010 Chinese Clothing Online Shopping Research Report" in Beijing. According to the latest research data, the apparel online shopping market is projected to reach a trading volume of 30.87 billion yuan in 2009, marking an impressive 81.5% year-on-year growth. Within the self-service apparel B2C websites, VANCL emerged as the leader with a remarkable 28.4% market share. As a relatively young company just two years old, VANCL has quickly established itself as a prominent player in the apparel B2C sector.
The development of apparel e-commerce in China has a decade-long history but remained lukewarm until 2007-2008, when it entered an explosive growth phase. By then, clothing had become the largest category in online shopping, leading all other types of goods in terms of transaction volume. According to iResearch statistics, clothing now accounts for 12.8% of total online shopping transactions. In particular, the B2C segment of the clothing market reached approximately 2.4 billion yuan in 2009, experiencing a staggering 99.8% growth. Among these B2C platforms, VANCL claimed the top spot with a 28.4% market share.
VANCL’s success can be attributed to its groundbreaking approach, offering products like 39-yuan women's clothing, 49-yuan canvas shoes, and 79-yuan jeans, which delivered both exceptional value and superior quality. This strategy quickly earned the brand recognition across the internet, establishing VANCL as an iconic lifestyle brand for Chinese online consumers. In 2009, VANCL was selected for "Future Star - 21 Most Emerging Companies" by China Entrepreneur Magazine, showcasing an annual average growth rate of 1475.48%. iResearch forecasts that VANCL's sales for 2009 could reach 600 million yuan. Currently, VANCL offers a diverse range of products including men's and women's wear, footwear, accessories, and home goods. To further solidify its brand image, the company is actively seeking a suitable celebrity ambassador from the Greater China region. Additionally, VANCL recently invested 20 million yuan in technology R&D and the establishment of a self-built logistics subsidiary.
Founded on October 18, 2007, VANCL's revenue surged from 1.12 million yuan in 2007 to 300 million yuan in 2008, with expectations of achieving another 100% growth in 2009, surpassing 600 million yuan. The company processes around 20,000 orders daily, selling approximately 50,000 pieces of clothing. This rapid expansion has captured the attention of international venture capitalists, who have collectively invested tens of millions of US dollars in three rounds of funding from well-known firms like Softbank, SAIF, IDG, Skyworth Ventures, and Qiming Ventures. As the founder and CEO, Chen Nian is considered one of the pioneers of China's e-commerce industry. He previously led Joyo, which was acquired by Amazon in 2004 for $75 million and later rebranded as Amazon China. The VANCL management team draws heavily from Joyo, bringing extensive expertise in online marketing. Leveraging aggressive internet advertising campaigns, VANCL rapidly gained visibility and appeal among Chinese netizens, inspiring numerous imitators.
Currently, there are around 80 million online clothing shoppers in China, out of a total netizen population of 338 million (as of the first half of 2009). With clothing being a necessity, the potential user base remains vast. iResearch predicts that the proportion of clothing online shopping transactions relative to total apparel retail sales will rise from 9.7% in 2009 to nearly 17% in 2012, with sales exceeding 800 billion yuan.
Background Information:
1. iResearch Statistics: In 2009, among independent B2C platforms, VANCL held a 28.4% market share, ranking first.
2. VANCL Overview: Founded in October 2007, the founding chairman and CEO, Chen Nian, was also the founder of Joyo. Key milestones include securing three rounds of venture capital in October 2007, December 2007, and June 2008. In December 2008, VANCL became China's first men's B2C brand. In June 2009, the company expanded into women's clothing, and in August 2009, it launched footwear products. Today, VANCL employs over 800 people and expects 2009 sales to reach 600 million yuan, with an average customer spending of 240 yuan.