The Chinese buy fashion items all over the world, and local homes make their market in search of brands to grow.
Despite losses in 2015 for the second consecutive year, distributors, investors and industry experts are looking to the promising future of the Chinese luxury goods industry, driven by double-digit growth in recent years Years.
A study by the Fortune Character Institute, which has offices in Shanghai, London and Connecticut in the US, seems to confirm this optimism. Last year, Chinese consumers bought 46% of luxury goods sold around the world, 78% of which were acquired outside China.
Chinese luxury Shopper : 46% of luxury goods sold around the world
78% of which were acquired outside China.
Chinese buyers of high fashion items and luxury goods are also becoming more and more demanding. A mark too readily available or too visible is not for them. By buying and encouraging the best of the existing luxury brands, they create trends.
The Shandong Ruyi Group, one of the largest textile producers in China, has sought to sail on the rising wave of fashion concerns that Chinese consumers have acquired, and have joined the list of candidates for the takeover of the French lending group To-wear SMCP, Bloomberg said in January. This month, Reuters cited sources that the talks had not been successful but that an agreement was not yet entirely excluded.
The SMCP group is valued at more than one billion dollars (914.1 million euros). It holds affordable luxury brands such as Maje and Sandro, whose success among the growing middle class in China has asserted itself in recent years. source
The Shandong Ruyi Group
The Shandong Ruyi Group is among the top four of the 500 largest textile companies in China and posted a record revenue of 30 billion yuan (4.2 billion euros) in 2013. It declined to comment on the ” Interest in the takeover of GSPC.
Such an acquisition “would only be a drop in the ocean, because the Chinese are rapidly climbing the top of the luxury industry,” said director of the Fortune Character Institute, Zhou Ting. “The (luxury) market remains one of the most lucrative for the moment and will remain so for the next decade. This means that if Chinese companies and investors want a share, they will have to be more actively involved in every part of the supply chain, from design and manufacturing to marketing and distribution. ”
Things have gone in that direction lately. For example, Vipshop Holdings, the locally-launched Chinese fashion label, known for its discount policy, invested several million pounds last November to take a minority stake in the British fashion house BrandAlley, More British brands in China.
A month earlier, its competitor Secoo.com had taken the chronicle by opening the first store based on a cross-border mode at Piazza del Duomo, one of Milan’s busiest shopping districts.
Li Rixue, founder and CEO of Secoo.com, created the website in Beijing seven years ago. He sees in the Milan shop an element of the “decennial plan of globalization of society”. Industry professionals believe that Secoo.com’s aggressive expansion is a strategy aimed at targeting Chinese tourists who spend a lot of money in Europe.
Zhou Ting explains that this is probably what the Chinese buy, where and how they buy which will determine where the money will be injected from Chinese investors, and probably from global investors.
For Michele Alberti, CEO of Luxemporium Investments SA, a Swiss-based ready-to-wear import and export company with Shanghai Spring Bamboo Group, the world’s leading manufacturer of wool and cashmere, Chinese consumers become more savvy. But there is no need to distinguish them and treat them as if they were a different race.
“We should no longer consider Chinese consumers as a clientele apart,” says Alberti, who has held managerial responsibilities in major luxury companies such as Bally and Salvatore Ferragamo. “People always ask me what distinguishes Chinese from other consumers. I think (that’s the fact) that they are more and more like the consumers of other countries, if not that they show the way to the industry “.
Michele Alberti joined Luxemporium in 2014 and played a key role in opening the first multi-brand space at the Tianjin Friendship Department Store in January