A couple weeks ago, Vlad as well as I were in Texas for SXSW as well as went to the conference’s panel on worldwide digital patterns for the high-end Consumer. It wasn’t a fashion-specific panel, however during the talk, one of the presenters discussed a recent company Insider short article about consumer perceptions of Louis Vuitton in China. According to one professional who talked with BI, top-tier consumer tastes are shifting away from the French high-end giant.
Ewan Rambourg, author of The Bling Dynasty: Why the regime of Chinese high-end consumers has only just Begun, declares China’s elite are progressively thinking about a much more subtle version of luxury, as well as the understanding in the market is that Vuitton can’t offer it. Rambourg states China’s high-end consumers are turning toward much more costly brands as well as bespoke goods, with less focus on logos as well as much more focus on the high quality of the product. One quote in specific has been a subject of hot argument on our PurseForum: numerous Chinese consumers think, “I can’t purchase Vuitton, I’ve seen it as well much, it’s a brand for secretaries.”
While Rambourg as well as the company Insider short article didn’t broaden on whether or not this pattern is showed in other worldwide markets, China is an essential consideration for all worldwide brands that hope to grow–Euromoniter’s many recent rankings put it as the 5th largest high-end market in the world, as well as although the Chinese market has slowed this year, worldwide consulting firm Bain & business still expect the nation’s essential rising consumer class to double by 2017.
Do your perceptions of Louis Vuitton match or contradict the altering tide in Chinese consumers? let us understand in the comments.
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