Rising down jacket sales offer unexpected cushion against deflation in mainland China


China’s down jacket and coat makers are the unlikely beneficiaries of the winter season, as more young consumers splash out on coveted brands despite significant price increases.

Buoyed by strong buying interest in mid to high-end winter wear, retailers like Bosideng expect the sales boom to continue over the next three months as the weather gets colder.

“Garment makers that offer clothes specific for winter have received a windfall from the cold temperatures this year,” Shanghai-based securities firm Shenwan Hongyuan Group said in a recent research report. “A late arrival of the Lunar New Year will also boost sales.”

The Lunar New Year, also known as Spring Festival, falls on February 17, 2026, compared with January 29 this year, prolonging the high season for down jacket sales, which normally lasts until the holiday.

The mainland’s market for down jackets, which was valued at about 200 billion yuan in 2023, was likely to grow at an annualised 11 per cent from 2024 to 2028, according to Huayuan Securities. Photo: AFP
The mainland’s market for down jackets, which was valued at about 200 billion yuan in 2023, was likely to grow at an annualised 11 per cent from 2024 to 2028, according to Huayuan Securities. Photo: AFP
A buoyant winter clothing market could create a cushion against stubborn deflation amid weak consumer demand for daily essentials and big-ticket items.
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