Luxury products appeal native’s purchasing
Surveys have released that Chinese consumers are more and more attracted by luxury goods. Moreover, the most famous luxury brands such as Louis Vuitton or Chanel penetrated the Chinese market to appeal them. Nevertheless, Chinese customers noticed prices are higher than countries overseas. That’s why, they tend to travel in order to purchase luxury goods.
Therefore, home-grown luxury bands are developping. Then, with a upper middle-class in China, the wealthier Chinese need to find more authenticity and try to diversify their style in buying Chinese Haute-Couture. In addition, they want to expand their lifestyle abroad whitout being copied by Western culture.
Consequently, “Made in China” is becoming a competitor on the luxury worldwide market and try to be made out within the most largest brands. Actually, while some Chinese luxury brands successes, they have not reached the big brands’ level of the world yet. With prices more expensive and clothes with less quality, native still tend to purchase abroad.
However, some Chinese luxury brands succeeded in making out and is still improving their expansion.
In 2013, statistics released a Chinese cosmetic market increasing in the Mainland.
Actually, LOREAL, although it is still the largest cosmetic brand in China, meets less and less success in the last years. The big brand is being replaced by cosmetic local brands.
In fact, Chinese girls are more and more sensitive to the products quality especially regarding their skincare. They always expect goods’ innovation in order to get on skin’s brightness aspect. Thus, they adapt ways they use to take care of their skin regarding seasons. That’s why, home-grown cosmetic brands are more able to tailor their products compared in brands overseas.
The Herborist, a Chinese pharmaceutical brand, offers to consumers, herb medicine products. The brand succeeded in expanding it activity all around the world since 2007. Indeed, biological products are sold with massage and acupuncture advice and some information about plants used in the cream. Moreover, the luxury brand opened a shop on Avenue de l’Opera in Paris, which is one of the most prestigious in the famous capital. The brand improved it concept, and now offers luxury and expensive perfume to consumers.
Fashion brands are changing !
Brand New China, as it name indicates, is a new luxury brand in China launched in Beijing surrounded by Chanel and Armani. Therefore, stores’ brands don’t look to be so prestigious. Indeed, the brand tries to be discreet in order to satisfy a new type of consumers. These rich Chinese need more authenticy, and want to develop the Chinese touch in their trend styles. They are not attracted by Louis Vuitton’s bag anymore which we could see every where today.
The Brand New China’s stores showcases printed silks, deconstructed dresses, futuristic shoes and hand bags which look like a Mondrian painting. Thus brand’s success encourages other many startups to launch their brand on the fashion market thanks to collaboration with international luxury brands.
More information: Brand New China
China and it three-star caviar
Nowadays, China is one of the largest caviar producer in the World. These luxury eggs attract more and more rich population all around the world, and are part of three-star menu in restaurant. Chinese caviar is exported in 70% foreign market.
The Wine Market is progressing in China
The most famous spirit makers such as Remy Cointreau, Moët & Chandon or LVMH, try to spread their brands on the Chinese market thanks to collaborate with local wineries.
Indeed, in 2008, Chinese boutique wine won an award which increased the Chinese market awareness regarding the wine culture. Today, Chinese are one of the most consumers of wine. The mix between Wine and coca-cola is part of the past now.
Grace Vineyard is a wine Chinese brand created in 1997 and which succeeded in interesting the Chinese consumers. Then, we can find the wine in luxury restaurants in Hong-Kong.
The wine Chinese market is still improving especially because the wine culture is developping in China and provides quality wines.
An example of wine Chinese startup: What wine expert think about the French Cellar Wine in China
You can also read:
- 7 Best ways to attract Chinese luxury buyers
- Tapping China’s luxury-goods market
- What Is Really Happening in China’s Luxury Market?
Article provide by Thomas from Market Research