A luxury conference held recently at the China Europe International Business School in Shanghai has raised some interesting questions about the Asian market.
According to WWD, "One of the most debated topics at the conference was whether Chinese consumers are willing to accept homegrown luxury brands.”
This article reminded us of some of the issues we’ve previously discussed in the MO Down, such as the increase in Asian companies purchasing European luxury brands and the creation of Asian, particularly Chinese, luxury brands.
It also features key points on current European brands who have invested in China early on; Ferragamo, as an example, will continue to expand in the market. Also, Hermes is cleverly looking at producing a brand in China, Shang Xia, (perhaps this is about the "if you cannot beat them, join them" philosophy). Also, existing and notable high end Chinese Brand, Shanghai-Tang is expanding their current offer by opening a cafe and launching an iPhone application.
Click here to read our earlier report on Hermes’ Shang Xia. We’ve also discussed several mergers and acquisitions in detail.
Image credit: www.shanghaitang.com