The first channel is the inventory accumulated by various clothing companies every year.

As early as 20 13, Yang, CFO of Vipshop, mentioned that China's 400 billion clothing inventory needs to be cleaned up every year, and Vipshop is still far from the ceiling.

Second-hand channels, residential areas and other venues, so offline recycling in the form of old clothes recycling boxes, or clothes donated by Chinese people, will eventually flow to the tail market.