Within the next five years, China is expected to become the largest fashion market in the world. This huge change in market distribution is going to change fashion codes and habits. Daxue Consulting is forecasting China’s luxury market to reach up to $27 billion this year; nearly tripling its size in 6 years. This expansion of the fashion industry is impressive in China. In less than a decade, Chinese Fashion industry has got to compete with the world’s most famous stylists and designs.
The head of France’s fashion federation believes that this new passion for fashion is recurrent in emerging nations that consider appearance with high importance. However, in Beijing and Shanghai, purchasers of high-end fashion aren’t looking at brand logos as much as few years before. They tend to value the style with more and more modern and interesting taste.
As people are getting higher interest and knowledge about fashion, the citizens of the largest cities are now targeted by the worldwide industry. Beijing is now set on creating their own competitive brands and products.
Sculpting Fashion industry in Beijing
One of today’s best fashion schools in China is the Beijing Textile Engineering Institute. Today Beijing Institute of Fashion Technology is welcoming the new Chinese generation, searching to create a strong presence in the worldwide fashion industry. In thirty years, the school has become a pillar in China fashion industry and has formed 50,000 graduates to become influential designers, editors and critics in the fashion industry in Beijing and everywhere around the world.
Many institutions participated in the rise of Beijing as a new fashion centre. The school ESMOD and CAFA (Central Academy of Fine Arts) are shaping the industry. Events are changing the international opinion about China and fashion with tradeshows such as CHIC and FashionNow. An importance influential event in the fashion industry is the China Fashion Week. This world-renowned platform for fashion was established in the capital of China. Beijing fashion shows it top-rated for fashion design, ready-to-wear accessories, styling and new technologies. This show has also become a must-be-there platform for fashion players in China. Indeed, there were more than 320 designers, 350 fashion brands and 768 fashions shows all aspiring to conquer the next most important market of the world. Of course, the media was very present and hundreds of media came from around the world since new trends are now being created in Beijing.
Characteristics of Beijing fashion market players
In China, most fashion publishers and magazines are based in Beijing for historical reasons as well as for the proximity of celebrities, musicians, photographers, designer and other artists.
Numerous successful shops were born in Beijing such as Triple Major and Dongliang and only then expanded to Shanghai. Galeries Lafayette and Brand New China made the choice of basing themselves in Beijing as the city corresponds better to their strategy of distribution all over China.
While Beijing’s middle class isn’t as strong as in Shanghai, purchasing habits are very similar. According to Zhang Da of Boundless, “Beijing is a market where customers are more cultured and experimental and prefer pieces with more character.” This can be explained by the fact that the wealthiest class of Beijing is more in contact with fashion in high circles. Considering Beijing as the Capital for fashion isn’t appropriate according to Leaf Greener of Elle China “Both have their own sense of beauty” She compares Shanghai to Paris as “sophisticated, modern and chic” while she believes Beijing is better reflected by London as “bold, colourful and cultivated where royalty and punks could live in the same city.”
Daxue Consulting expertise
Daxue Consulting can provide you support in understanding the fashion industry in China. We conduct all the market research and consulting services you may need, such as market research, cost analysis, market reports etc. To know more about the Fashion industry in Beijing, do not hesitate to contact our dedicated project managers by email at dx@daxueconsulting.com.
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