The Dark Horse of Women's Underwear: "Sutieya" is Racing Forward
China's women's underwear market began in 1996, and up to today, there still hasn't been a true dominant brand. So-called first-tier brands have merely achieved significant success in certain regional markets within China. Thousands of large and small underwear brands are scattered throughout the country, making the market extremely fragmented. In today's era of booming e-commerce in China, many forward-thinking individuals have set their sights on this fertile but largely untapped land!
Among these players, one dark horse stands out — "Sutieya," which specializes in women's underwear on Taobao and fashionable comfortable clothing. Through its deep cooperation with Hong Kong-based Ti Hui, one of China's top ten underwear brands, Sutieya has established leading advantages in design, R&D, production, quality control, and a robust supply chain system. Backed by substantial resources, a professional management team, and excellent reputation among consumers, it is reshaping the competitive landscape of the underwear market. Experts predict that Sutieya women's underwear has a great potential to lead this year's domestic female fashion underwear market.
Below, we introduce the man guiding this dark horse of women's underwear, racing forward on his entrepreneurial journey — Li Yong.
Li Yong's Extraordinary Entrepreneurial Journey
The passion for entrepreneurship had already ignited within him. Unable to wait any longer to realize his dreams, Li Yong chose to leave Tsinghua University before completing his studies, forsaking a hard-earned doctoral degree. In 2005, he collaborated with Zhang Jiexian, the former CEO and founder of Zhonghua Talent Network, to establish China's first urban lifestyle information portal site, Ziye 114 (www.ziye114.com). Within just two years, he successfully brought Ziye 114 to rank among the top three in the domestic industry.
Subsequently, he independently founded the "Private Tailor" high-end custom suit institution (www.ppt.hk). Over four years, he outperformed numerous strong competitors, transforming "Private Tailor" into the leader in China's high-end custom suit industry. To elevate Private Tailor's custom suits to world-class craftsmanship levels, he even acquired a domestic high-end suit factory with 300 employees, converting it into a high-end suit customization line. Amidst an aggressive expansion plan, "Private Tailor" aims to exceed 50 chain stores by 2012, with annual revenue surpassing 50 million yuan.
In nearly five years of operation, all resourceful, well-connected, and powerful competitors have vanished from the market, including the once highly popular "Larland" (invested by Tencent founder Zeng Liqing, Sina Vice President Wang Bin, and Zhuangji Group President Wu Bangdong), and "Bono Tailor" (a heavily funded custom suit chain launched by Bosideng Group in 2007). As these formidable competitors disappeared, Private Tailor has become the leading brand in high-end men's suit and shirt customization.
In 2008, Private Tailor was named one of China's Top 50 Best New Enterprises; in 2009, it won the award for one of the Top 100 Consumer Favorite Websites; in 2010, it ranked among the Top 10 Online Retail Brands; in 2011, its goal was to reach 15 chain stores; in 2012, the target was to reach 50 chain stores.
When asked about the secret to Private Tailor's success, Li Yong replied: "There really is no secret! A deep understanding of the product is the core foundation of a company's success. Only unique high-quality products can truly win customers. All marketing must be based on the product. A company may have various core competencies, but product capability must at least be part of its core strengths."
Li Yong once again tasted the success and pleasure of entrepreneurship, yet he also realized that Private Tailor's market capacity was limited, unable to support his dream of building a great company.
This article comes from Fashion Coordination Network (http://www.daban.org.cn). Please indicate the source when reprinting.