Reshaping China’s luxury market: shifting consumer values and transformative retail experiences
In 2019, McKinsey estimated China’s share of global luxury consumption would grow to 41% by 2025. In fact, 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. Strict lockdowns slowed economic and social activities, […]
Navigating the winds of change: China’s fashion industry experiences unprecedented growth
China’s fashion industry is currently experiencing an era of unprecedented change and growth. In the “State of Fashion 2023” report, a joint effort by BoF and McKinsey, it is projected that the global fashion market will slow down in 2023 due to macroeconomic and geopolitical factors, including rising inflation, supply chain pressures, and political tensions. […]
Hong Kong’s luxury market losing ground to Mainland China: can it regain its position?
Hong Kong is well-known as a leading financial center, major travel hub and tourist destination: in 2019, Hong Kong had about a hundred million inbound visitors. Hong Kong’s luxury market has long been crucial to the city’s economy, with the total revenue for luxury goods sales reaching 12.92 billion USD before the pandemic. Hong Kong’s […]
Balabala: the leading brand in China’s children’s wear market
Founded in 2002, Balabala (巴拉巴拉) is a Chinese brand producing clothes and accessories for children from 0 to 14 years old. It is part of the Semir Group, one of the top 5 apparel groups in China by market share. The brand has gained increasing popularity recently and is now the number-one brand in the […]
Three Chinese perfume brands taking over the fragrance market: Documents, To Summer, and Scent Library
The Chinese perfume market has experienced significant growth due to the country’s economic development and changing consumer habits. Historically, perfumes were considered a luxury item that was out of reach for most people and not widely used in the Chinese culture. However, as beauty product imports from abroad increased, more people began to use perfume, […]
Louis Vuitton in China: continuously providing fresh experiences to consumers both online and offline
Louis Vuitton Malletier, also known as LV or Louis Vuitton, is a French luxury fashion brand founded by Louis Vuitton in 1854. The brand’s extensive range of products includes luxury suitcases, leather goods, shoes, watches, jewelry, accessories, sunglasses, and books. Louis Vuitton entered the Chinese market in 1992 and has since become one of the […]
Celebrity outfits generate buzz among Chinese netizens during the 2023 Fall-Winter Fashion Week
The 2023 Fall-Winter Fashion Week has sparked a wave of discussions on Chinese social media. The event took place from February 10th to March 7th in New York, London, Milan, and Paris in sequence, where many boutique brands released their latest products, revealing the upcoming season’s trends, and invited celebrities from around the world as […]
Sustainability in the global fashion industry: luxury brands take action in China
The trillion-dollar fashion industry is quickly expanding, but its environmental impact is becoming a growing concern. It is estimated that the fashion segment contributes to 10% of the global carbon emissions annually, which is more than all international flights and naval transport put together. With the tendency of buying new garments and keeping up with […]
Neiwai: Empowering women with comfortable lingerie & loungewear
Neiwai is a Chinese lingerie and loungewear brand that was launched in 2012 with the aim of creating apparel that frees wearers’ bodies and minds. Starting as an online retailer, the brand has grown into a well-established brand offering a full range of leisurewear lines. This lingerie brand has over 140 stores covering more than […]
Li Ning in China: leveraging national confidence to win young Chinese consumers
Li Ning is a Chinese sportswear company founded in 1990 by the Chinese “prince of gymnastics” Li Ning (李宁). In recent years, the brand has seen its sales skyrocket and its patriotic designs gain popularity, especially among new generations. The enhanced Chinese nationalism combined with the surge of the sports market following the COVID-19 pandemic […]