Reshaping the Chinese Luxury Market: Shifting Consumer Values and Transformative Retail Experiences
In 2019, McKinsey estimated China’s share of the global luxury market would grow to 41% by 2025. China’s luxury market has been mounting up for the past five years, doubling in size between 2019 and 2021. This growth was disrupted in 2022 due to the zero-Covid policy. In 2022, nearly every luxury category and most […]
From east to the runway: the irresistible ascent of Chinese designer brands
In recent years, at fashion shows and various events, many domestic and international celebrities have been seen wearing clothing from Chinese fashion brands, and an increasing number of Chinese designer brands are entering the international spotlight. At the 2023 Met Gala red carpet, Cardi B appeared in a specially tailored camellia dress designed by Chinese […]
Gucci in China: a tale of elegance and cultural connection
The luxury goods sector has experienced significant growth in China over recent decades, triggered by a remarkable surge in disposable income. Consequently, renowned international luxury brands such as Coach, Hermès, and Prada have all strategically penetrated the Chinese market, seeking to capitalize on the burgeoning demand. However, among the abundance of luxury brands vying for […]
China’s luxury market in 2024: VICs, omnichannel & CRM strategies
Despite economic challenges prompting increased savings among over half of Chinese consumers in 2023, China’s luxury market experienced a rebound, fueled by financially resilient core luxury consumers. In this landscape, Very Important Customers (VICs) have emerged as pivotal drivers of consumption, inducing luxury brands to pivot their focus from entry-level consumers. In tandem with this […]
Ralph Lauren’s resonance with China’s 2023 online trends
Ralph Lauren Corporation, the American accessible luxury brand renowned for its polo shirts, entered the Chinese market in 2011, making it a relatively late entrant compared to brands like Louis Vuitton and Chanel. The company achieve a remarkable success among local consumers and, in 2023 Q3, its sales experienced a remarkable surge of over 30% […]
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 […]
Shein’s market strategy: how the Chinese fast-fashion brand is conquering the West
Shein is now the largest Chinese cross-border fast fashion e-commerce company. The e-tailing brand reaches consumers in the United States, France, Russia, Germany, and over 150 other countries. In 2023, the app had over 261.9 million downloads, with over 53 million users worldwide. The e-commerce platform stands out as one of the most rapidly expanding fashion retail websites in the […]
Affluent Chinese moving to the Middle East: Luxury living, investments, and education for Chinese elite
The Middle East, particularly the Gulf region, stands out for its opulent lifestyle, extravagant architecture, and high-end attractions. Notably, the United Arab Emirates (UAE), with cities like Dubai and Abu Dhabi, is a beacon of luxury, boasting upscale developments, lavish hotels, premium shopping malls, and extravagant entertainment options. The region’s allure extends to affluent Chinese […]
Navigating China’s Daigou landscape: resilience, challenges, and novel avenues in post-pandemic luxury markets
The Daigou (代购) industry, referring to individuals or agents who purchase and import goods from overseas for resale in the Chinese market, faced substantial challenges amid the pandemic. Tightened regulations and pandemic-related disruptions led to a significant reduction in the industry. Despite some recovery, the industry is unlikely to return to its previous size. This […]
China’s ultra-luxury market amid global uncertainties and digital transformations
In 2023, the global economy continues to grapple with the aftermath of COVID-19 and the war in Ukraine. Despite initial efforts at recovery, the labor market is shrinking, nations are trying to navigate the complexities of inflation, and economists are pessimistic about the future trajectories and anticipating the economic recession. Download our China luxury market […]
Under Armour’s strategic fusion of fitness and community in China
In 2011, Under Armour (UA) marked its official entry into the Chinese market by establishing its first store in Shanghai. Since then, the US sportswear brand has experienced significant growth, currently boasting 836 stores across China, with a presence in 34 provinces and regions. As of the second fiscal quarter of 2023, the Asia-Pacific region, […]
Macau’s economy beyond gaming: how the “Las Vegas of China” is changing its skin
Macau is a Special Administrative Region (SAR) situated in southern China. Macau remained under Portuguese rule for more than 400 years, and reverted to Chinese control in December 1999. Despite this, as an SAR, Macau retained Portuguese as its second official language alongside Mandarin. Often referred to as the “Las Vegas of China,” Macau is […]