A market in permanent expansion
The Luxury sector is in excellent health the world over, but Asia is currently the most vigorous.
The luxury market in China has literally exploded and has witnessed spectacular development… and the biggest winners have been Europe’s big luxury brands.
The population has seen its purchasing power increase rapidly. Over one million millionaires now live in the Middle Kingdom, 80% of them are under 45 years old. The market has phenomenal potential for development.
Every study made agrees: Asia, and China in particular, will represent over half of the international luxury market by 2020.
A Strong Desire for French and European Brands
The major luxury brands, namely French, are already implanted in China and in Asia.
But in their wake, the leading market has opened up a space for new contributors, providing that they propose an attractive and differentiated universe, traditional artisanal recognition and extensive knowledge about the Asian consumer.