Chinese luxury brands are a topic of growing interest amongst those in the industry who are involved or have an interest in getting much more involved in China’s luxury sector. The following is a curated collection of news that should help provide an evolving view on the topic. We will continue to update this page with insight each month as we come across it.
“”China has basically no top-class luxury brands, which is a regrettable situation,” said Xiong Xunlin, deputy secretary-general of the China Chamber of International Commerce.
Read the full story here.
“…with China’s economy booming once again, Chinese business leaders are reviving and marketing their centuries of know-how in an effort to create a new generation of luxury brands. At a time when Chinese consumers are rushing to buy luxury goods, creating what will soon be the world’s largest luxury market, we look at China’s emerging, high-end brands and analyze their potential for success.” Read the full AT Kearney report here.
“As local incomes continue to rise, upwardly mobile young professionals will increasingly aspire to the high-end. Those that capture their spending will also gain a far higher margin business. But right now, it is the foreign brands that are best placed to succeed here. By contrast, Chinese brands dominate the mass-market, competing on price, rather than on sophistication and allure.” Read the full article at China Daily
“…just how far off are actual home-grown Chinese luxury labels? While a new generation of independent designers is now active in Beijing and Shanghai, pumping out a steady supply of avant-garde-leaning collections, influential brands are scarce.” Read the full article at Jing Daily
Few doubt that building a luxury brand is a slow process, as illustrated by the fact that names such as Cartier, Burberry and Longines date to the mid-19th century. “To create a luxury brand you need years, decades, maybe centuries, so it’s not going to happen in China overnight, but it’s starting to happen,” Read the full article at 5Selection
Marc Bernhardt is a veteran of the Swiss watch industry. He spent almost ten years with IWC, five of them building the brand in the USA. We met him recently in Switzerland and were amazed to hear that he is now working for the Chinese luxury group VASTO. He offers insights into the world of luxury sales in China. Read the full interview at WorldTempus
“…the negative connotations of the Made in China tag are being erased according to Fiona Kotur, an American handbag designer whose line Kotur is based in Hong Kong and manufactured in China.” Read the full article at Forbes
“While China is well on its way to becoming the largest luxury market in the world, a number of home-grown companies are ambitious to make their own names known in an arena long dominated by foreign brands.”