The dawn of a new era for Chinese luxury brands: 6 hypotheses on the future of luxury in China
In 2023, China’s luxury market made a significant rebound, surging by 12% year-on-year after a pandemic-induced dip the previous year, Chinese luxury market is on track to become the world’s largest, with Chinese luxury consumption estimated to account for 35%-40% of the global total by 2030. Alongside the development of the Chinese economy and its […]
Sparkling shift: China’s diamond market evolution and the rise of lab-grown gems
China’s diamond market has been the world’s second-largest for over a decade. According to Statista, the Chinese diamond jewelry market was valued at approximately USD 8.8 billion in 2022. This article aims to explore the dynamic landscape of China’s jewelry market, specifically emphasizing the shifting trends within the diamond sector. Download our China luxury market report Driving […]
Outdoor pursuits, personalized experiences, and digital shifts are reshaping the Chinese fitness market
In recent years, the growth of the sports and fitness market in China has been exponential. The fitness population reached approximately 374 million people at the end of 2022, with an increase of 9.6% since 2016, and generating a revenue of more than RMB 941 billion (USD 132.4 billion) in the same year. The latest […]
Luxury Co-Branding in China: High-End Brands Take Collaborations to the Next Level
In China, luxury co-branding is not just a trend; it’s an innovation powerhouse that is reshaping the market with unexpected and often surprising partnerships. Far beyond conventional alliances, these collaborations bring together brands from dramatically different sectors – from local food and beverage giants to fashion brands (like the collaboration between Fendi and HEYTEA), and […]
The Yiwu market in China: where tradition meets innovation in global trade expansion
The Yiwu wholesale market, also known as Yiwu International Trade City (中国义乌国际商贸城), is located in Yiwu City, Zhejiang Province, China. It is the world’s largest wholesale market, attracting thousands of international buyers every year. In the process of long-term development, Yiwu has found its unique industrial advantages, mainly focusing on light industry commodities. The diversity […]
Skyward bound: charting the new global course of aircraft manufacturing
The Chinese aviation market is rapidly growing, boosted by a rising middle class and government support. With an average yearly growth of 10.5% over the past decade, as per the International Air Transport Association (IATA), China surpassed the U.S. as the largest aviation market in 2019 based on passenger numbers. To meet this demand China […]
Exporting to China: Navigating complex regulations and market dynamics to the world’s second-largest economy
China stands as the globe’s second-largest economy in terms of gross domestic product (GDP), a status it has maintained since 2010. China’s economy outweighs Japan, Germany, the UK, and India combined. Guangdong, its largest province, has a GDP larger than Canada’s, while the Yangtze River Delta, centered around Shanghai, matches Germany’s GDP. With its GDP […]
From local success to global player: ANTA’s strategic blend of tradition, innovation, and sustainability
ANTA(安踏), a prominent player in the Chinese sportswear market, has secured a notable position second only to Nike with revenue reaching RMB 29.6 billion in 2023. The sale is mainly from sports apparel and footwear segment. The company recorded a substantial revenue of RMB 11.1 billion from sports apparel sales, marking a notable increase from […]
Mobile payments in China: How China became a cashless, mobile-first country
An unmistakable shift towards a cashless society can be observed in China with electronic payments becoming widely prevalent throughout the country. The influence of digital payments extends beyond urban centers to rural areas, where it has positively impacted the lives of residents and small businesses. With the integral role of mobile payments in China examining […]
Brewing a remarkable resurgence: Luckin Coffee’s tale of innovation and redemption
In the hyper-competitive Chinese coffee market, few stories are as gripping as that of Luckin Coffee (瑞幸咖啡). Once embroiled in a scandal that led to its expulsion from Wall Street in 2020, Luckin Coffee has not just clawed back to its former glory but has also eclipsed some of the industry giants. As of early […]
How German brands conquer China’s market with trustability, sustainability and innovation
Since establishing diplomatic relations in 1972, China and Germany have maintained a significant economic partnership. By 2016, China had become Germany’s largest trade partner in Asia, with bilateral trade reaching nearly EUR 300 billion. However, recent strains in the relationship have emerged, influenced by Russia’s actions in Ukraine, China’s deepening ties with Moscow, and heightened […]
French brands shine in the 60th anniversary of Sino-French relations
The year 2024 will mark the 60th anniversary of diplomatic ties between China and France. Presently, China holds the position of France’s third-largest trading partner after the EU and the US. From a modest beginning of USD 100 million in 1964, the annual bilateral trade volume has surged remarkably, reaching USD 81.2 billion in 2022 […]