The speed of development in China has taken the world’s breath away. And here’s why.
The fashion industry in China is changing rapidly as Chinese consumers want to make purchases that reflect their newfound success and social status. With a rising number of millionaires and a growing middle class, China is expected to become the second biggest consumer of luxury goods by 2015.
OmniaLuo Inc, a domestic China-based company that designs, markets and distributes the luxury women’s apparel brand “OMNIALUO,” As an award-winning domestic brand designer, Cindy Luo, OmniaLuo Chairwoman and CEO commented on the new breed of luxury consumers in China, “We see many luxury brands including Dior and Louis Vuitton entering the Chinese marketplace to expand market share, selling to Chinese consumers. Also, several foreign fashion brands have moved their production to China. So China is becoming an integral part of the high end fashion industry in all aspects.”
Coach Inc, internationally desired for its luxury handbags and accessories, has ambitious plans for its line in China. According to Coach, “We expect Greater China, which includes Hong Kong, Taiwan, and mainland China, to grow rapidly, achieving 10% of the global market by 2009. Therefore, we believe Greater China has the potential to become a third leg for Coach. Although we’re still in the very early stages of our development in Greater China, we have made great progress and estimate our market share today at about 4%. At year end there were a total of 49 Coach locations in the region, including 15 in mainland China, 13 in Hong Kong, 1 recently opened in Macau, and 20 in Taiwan.”
Currently, the world’s biggest fashion names are opening up outlets not only in major metropolises such as Shanghai, Beijing and Guangzhou, but also wealthy secondary cities such as Hangzhou and Suzhou, to lure a new generation of brand conscious consumers from the Chinese mainland.
Fashion magazine also plays a huge part in the influx of fashion demand. If there were no fashion magazines, fashion would not be a public phenomenon. The fashion magazine industry in China, though with a much shorter history than the century of American publications, has been going all out to catch up. Even fashion magazines in China follow the pace of global fashion brands, what more the consumers?
With globalization, Chinese brands like Shanghai Tang and Vivienne Tam do have a global audience, attracting the attention of numerous collections not only in Asia but also department stores in England, Italy, Germany.
In weeks to come, stay tune to the latest and most updated fashion news about the current trends that is happening in different parts of China. We will take a closer look at how the locals get influenced from celebrities as well as the creative youths in China shouting out for attention with their fashion sense.
There is also going to be coverage on some hot spot boutiques to get that latest piece of apparel to stand out in the crowd. So do come back and check out this page weekly.