Chinese Luxury Market
Up to now, Chinese bourgeoisie swore only by the famous international luxury brands such as LouisVuitton, Hermes or BMW. Today, some Chinese brands are trying to conquer a piece of the enormous cake: China will represent 20% (27 billion dollars) of the worldwide luxury market by 2015,. Watches, cosmetics, jewelry, spirits or clothing: here nine brands Qeelin NE Tiger Moutai Shang Xia Longio Hongqi Chow tai fook Herborist Dorian Ho which start to emerge and which hope to regild the image of the “made in China”.
The brand Shang Xia was created by the French group Hermes to conquer the Chinese market only. For that, Hermes recruited the designer Jiang Qiong, also chairman of the company whose Hermes owns 90%. With 60% foreign customers with 40% Chinese , Shang Xia as well sells cashmere coats , furniture with zitan (an invaluable wood), or tea sets. After being launched in 2010 in Shanghai, the brand opened in September its second shop in China World, the luxurious Beijing business district. Its turnover would rise to approximately two million euros for 2011.
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After having started in the sale of fur and leather products in 1992, the brand Tiger (for Northeast Tiger – Tiger of Siberia) turned gradually to the haute couture. Today, its founder Zhang Zhifeng fixed himself for objective to reinvent the Chinese traditional dress. Its styles use ancestral techniques of weaving and silk embroidery. Tiger quickly imposed its « dna » at the fashion shows: the brand for example organized the launch of China International Fashion Week at the end of 2011. It opened six shops, the majority in malls with the great brands of the Western luxury.