Qeelin launched its new brand, Qeelin GOLD; lululemon unveiled three innovative products in China for the first time; and ASICS staged the first physical showcase of its WALKING collection in the Chinese market.
Luxe.CO was invited to attend the opening ceremonies of these brands’ CIIE pavilions on November 6.
Sales in the Chinese Mainland market are expected to achieve mid-to-high double-digit growth in the second quarter.
Behind the 7% increase in global net revenue to USD 2.6 billion lies a starkly polarized market landscape.
“In 2025, China will be a primary focus for new store expansion in our international markets.”
Lululemon hosted the largest yoga community event in Beijing since its entry into China, with over 5,000 participants in attendance.
In the fourth quarter of fiscal 2024, net revenue from the Chinese Mainland increased by 46% year-on-year.
The net revenue growth in the mainland China market increased by 56%, or 60% when calculated at a fixed USD exchange rate.
Lululemon is expected to open approximately 55 new stores globally in the 2023 fiscal year, with the majority of them planned for China.
Wealthy consumers are still flocking to buy Lululemon’s tops, yoga pants, and shorts, boosting both online and brick-and-mortar store traffic.
