Old is gold: the second-hand luxury market in China is thriving
In the dynamism of China’s consumer landscape, a significant shift has been observed in recent years: the strong emergence of the luxury second-hand market. As the personal luxury goods market surged to an all-time high of EUR 362 billion, the Chinese segment itself has a substantial share, reaching an impressive EUR 53 billion in 2023. […]
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 […]
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 […]
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 […]
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 […]
What happens when luxury fashion brands tap into the F&B industry in China
Luxury brands are venturing outside of their core market segment, especially when it comes to Asia. Beyond expanding into fashion-related sectors, such as beauty and jewelry, several luxury fashion brands decided to tap into the F&B industry. In 2015, Gucci made the move to open a restaurant called “1921 Gucci Café” in Shanghai’s luxury shopping […]
Tommy Hilfiger in China: Digital marketing and celebrity endorsements
Founded in 1985, in The United States, Tommy Hilfiger is a highly recognizable designer brand dedicated to producing unique, classic and highly fashionable clothing and accessories for the global market. The product range includes men and women’s wear, children’s wear and a jeans collection. Other affiliated products include as watches and perfumes. Tommy Hilfiger in […]
Insights of the Decline of China’s Luxury Industry
The Impact of China’s Economy Slow Down As China’s economy slows down, the luxury industry is experiencing a slump. 2015 China Luxury Report from Daxue Consulting says that China’s luxury market has been declining in two consecutive years. Data shows that China’s luxury market size in 2015 was 113 billion yuan, dropping by 2% from […]
Market research China: What are the effects of the wealthy Chinese going abroad for China?
Market research China: What are the effects of the wealthy Chinese going abroad for China? China rapid growth is something everyone is talking about. With an average 7% growth fortunes are often made very quickly. Sure, often only the top are mentioned in the news but there are about 1million rich Chinese out there, the […]
Luxury brands on Chinese social network services
What is the most efficient way to build your reputation using the Chinese Internet? Of course, there is a multitude of answers for this question, regarding to the specificities of each sector or each company. Here is a focus on the strategy of leading brand in China. Social Presence in Chinese Internet The social animation […]