Nearly Half Of The Luxury Market Moved To China In 2020

Forecast that nearly 44% of the luxury goods market will move to China in 1:2020.

CLSA is the first public recruitment and distribution (IPO) for Prada company in Hongkong, which is expected to take the next five years. Luxury market in China It will grow at a rate of 25% per year, and will grow to 22% after five years. With this growth rate, China's market share will reach 74 billion euros, equivalent to 101 billion 400 million US dollars. The data provided by Bain&Co show that 2009 of China's domestic market share is 68 billion yuan, or 10 billion 320 million US dollars.

In fact, international luxury brands have laid a good foundation for development in Asia, but according to analysts Aaron Fischer A survey report in Hongkong shows that its momentum is still increasing.

According to the survey, when families earn more than $10000 a year, people begin to buy some luxuries. In China, this proportion rose from 3.1% in 2000 to 17.9% today. CLSA predicts that this proportion will continue to increase in the next eight years and may double.

CLSA did not predict the development potential of Prada in China or other parts of Asia, but Fischer said western brands will continue to maintain good momentum in the region. Like other regions and countries, Chinese consumers also prefer higher priced watches, clothing and jewelry luxury brands, but there are still some differences. China's luxury market is still dominated by male consumption. Men's clothing Handbags and cars account for a large share of luxury consumption. Swiss watches imported from Hongkong and Mainland China reached 26% of the world's total.

Forecast 2: more luxury brands will visit Hongkong.

In addition to the recent growth in the company's revenue, the share price of luxury companies has been inflating over the past few months. "This is quite unexpected." Fischer explains that inflation is powerful for luxury operators because they can raise prices appropriately and do not have to worry about customer complaints or accusations.