According to the reporter's visit, UNIQLO, located in Zhongshan square, Chengdu City, has quietly closed down, replacing another clothing brand.

In January this year, the GAP store in the core area of Chunxi Road, Chengdu, has also been closed, plus the MUJI that had been withdrawn from Ito's Chun Xi store. A number of fast fashion shops have withdrawn from Chunxi Road. In the heyday, the fast fashion brands had been as many as 21 in Chunxi Road business circle, leaving about 15 now.

Including UNIQLO,

Many of the "fast fashion" brands have declined to varying degrees in the 2016 fiscal year.

Marketing experts believe that the collective decline of the fast fashion brand represented by UNIQLO and H&M indicates that the fast fashion industry has come to a turning point.

In March,

The "2015 - 2016 Chengdu commercial retail development report" issued by the provincial chain business association pointed out that the number of fast fashion brands such as GAP and UNIQLO in Chengdu reached 49, ranking third in the country, second only to Beijing and Shanghai.

But the speed of the crazy expansion has slowed down.

There are more data showing that it has always relied on extensive shops and rapid expansion.

The industry has come to a turning point.

As Asia's largest apparel retailer, the performance report released by UNIQLO parent Xun marketing group recently showed that the total profit of the combined operation in the first half of fiscal 2016 amounted to 99 billion 300 million yen, down 33.8% from the same period last year, and the total income before tax was 82 billion yen, down 49.9% from the same period last year.

UNIQLO and H&M are not alone. Even worse is the GAp group.

The group's 2015 earnings report revealed that net profit in the fourth quarter of 2015 was $214 million, down 33% from the same period in 2014.

The earnings report also showed that the annual sales of OldNavy, which accounted for 42% of GAp group's revenue, increased by 1%, compared with 6% in the previous fiscal year, and the growth rate slowed down significantly. This also led to the first decline in group sales since the 2011 fiscal year.

In the first 6 months of February 29, 2016, net profit fell by 55.1%, which was also the first half year net profit decline of the group in the past 5 years.

UNIQLO brands have reduced their profits in the Greater China region and the Korean market.

Coincidentally, H&M, the world's second largest clothing retailer, also suffered a major decline in the first quarter of 2016.

H&M group reported that the company's net profit in the first quarter was SEK 2 billion 550 million, down 30% compared to the same period.

The explanation given by H&M is that the warm weather has led to a large backlog of winter clothing. Excessive discount and inventory clearance has led to a sharp fall of 320 basis points to 55% in the first quarter.

In addition, due to the increase in procurement costs, pre tax profits also fell by 29.6%.