Low-Key Luxury Brands Began To Be Favored By Luxury Consumer Groups.

Since Chinese netizens have exposed many expensive watches that officials do not match their salaries, the Chinese government has begun to clamp down on the culture of gift giving.

Consumers are beginning to see a new interest in Margiela's (Maison Martin Margiela) and other low-key brands, partly reflecting this reality.

Mason Martin Margiela, Belgium, has been able to tell from the unmarked white label to the fact that its design team has remained anonymous since 1992 when Margiela left the company.

So Margiela chose to open the largest and largest branch in Beijing last year, showing a significant change in China's luxury market.

Until now, China's luxury market is still famous for its diligent pursuit of big brands.

Analysts say this is also a natural evolution of luxury consumption patterns, which can be seen everywhere in other markets where new buyers always want to hang up the biggest brands in wardrobes, while older buyers will become more and more picky.

"What we are witnessing is a change in consumption habits rather than a desire to buy luxury goods."

Rhodes, managing director and vice president of Ruder Finn Asia, public relations and market research firm, wrote in an e-mail.

"We see that luxury consumers are shifting from externalizing demand such as displaying wealth labels to internalizing demand, such as buying luxury goods to reward themselves and enjoying the purchase process."

China's recent official figures show that consumer spending has slowed in the first half of last year, reflecting a slowdown in growth.

However, many international luxury goods groups still have good sales performance in China.

In the first half of this year, the French luxury giant Paris spring group (PPR), which owns the brand of Gucci (Gucci) and Bottega Veneta, sold 1 billion 170 million euros in Asia Pacific region other than Japan, or about $1 billion 470 million, an increase of 16.2% over the same period last year, and sales in mainland China increased 24.4%.

Gucci brand has 54 stores in China, sales increased 17.2% in the first half of this year, and Po Tejia operates 24 stores in China, with sales up 62.4%.

Sales of Hermes International rose 22% in the first quarter.

MOET & CHANDON LVMH Moet Hennessy Louis Vuitton increased its revenue in the first half of this year by 26% in.

In the four months from 4 to July this year, Richemont, a luxury brand such as Cartire (Cartier), has achieved impressive sales results, and the group claims that its operating profit in the first half of this year is likely to increase by 20% to 40% over the same period last year.

Although Li Feng did not provide details of sales according to local statistics, analysts said it seemed that Chinese consumers once again became the main force to boost sales.

"When we communicate with Chinese consumers, we find that they really want to spend money on luxury goods, but there is a clear change in the direction of spending."

Lei Xiaoshan, general manager of China Market Research Group, Shanghai Consulting Co., Ltd. (Shaun Rein) said.

"We recently interviewed 36 Chinese people, each of whom has reached or exceeded 10 million dollars.

They told us they didn't want Louis Vuitton anymore because the brand had become too common.

"They want to be different and do not want to buy the same brands and brands that are very popular in the past ten years," Ray Xiaoshan said in a telephone interview in Shanghai.

He said handbags buyers now favor "Hermes, Chanel, Po Tika" - these brands are renowned for their reputation, while at the same time they are slightly understated.

Lei Xiaoshan believes that the demographic composition and purchasing power factors also make the luxury market showing a trend of fragmentation.

"There are still tens of millions of girls who aim to buy Louis Weedon, but the buyers of Louis Weedon handbags tend to be $1000 monthly salary."

He said, "in the super rich class, people now turn their attention to more high-end niche brands."

Rhodes's public relations / Ruder Finn/Ipsos 2012 China luxury goods report (China Luxury Forecast 2012) released in July revealed some significant changes in consumer habits, indicating that consumers are carefully formulating plans for consumption in the coming year.

They seem to be leaving big watches, handbags and jewellery in the coming year, as well as high-end cosmetics.

Top wine, spirits and cigars with green eyes.

Shou Yu Ying of Rhodes's public relations believes that Chinese luxury consumers are not a unified group. "They include sophisticated consumers, who are interested in new niche brands, including customers who are more willing to chase big brands."

"In the past, luxury goods were often seen as a display of wealth, and social cognitive factors still play an important role when consumers in mainland China buy luxury goods."

She added, "however, they often look for products and brands that reflect personal tastes and personality."

"Paris is not only a typical luxury consumer, but there are many different types of customers who have different cultural backgrounds, habits and tastes."

Lei Xiaoshan added that the top consumers will no longer feel superior because of a handbag, "they are considering Ferrari (Ferrari) and Lamborghini (Lamborghini) luxury cars, private aircraft and yachts.

As you can see, these markets are still growing substantially. "

She said.

An Hongyu Yuval Atsmon, a director of the Shanghai branch of McKinsey Co & amp; McKinsey and a recent report on "meet" 2012 Chinese consumers, said that the McKinsey survey confirms that many luxury customers have changed the habit of buying luxury goods to show off themselves, and turn to products that are not marked with labels, even if they are not all.

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"They feel that they have evolved and no longer need big trademarks to prove their identity."

An Hongyu wrote in an e-mail.

"Interest in small brands is heating up, especially for customers who have been shopping for luxury for years."

He added, "more customers are starting to buy niche brands and even independent designer products."

He also said that the top tycoons would be happy to buy high priced "unique" orders.

top-level

To understand customers' unique pursuit, their customers will pay 20 thousand to 100 thousand euros for a unique ordering product.

In April, Dior (Dior) chose to hold a complete high-level customized fashion show in China. This is the first time Dior has done so.

A press conference in the Bund, Shanghai, recreated the seats of Montaigne Avenue boutique Street, Napoleon Napoleon (III, III), the grey walls decorated with white decorative lines and the eighteenth Century style pillars used for the stage.

The entire fashion show reproduced all the new fashions that Dior presented in Paris's high fashion show three months ago.

In the next month, Jean Paul Gaultier, the avant-garde French fashion designer, held its first fashion show in Beijing. (Jean Paul Gautiye)

In May, another fashion heavyweight brand, Giorgio Armani, held a fashion show called "one night in Beijing", which included Giorgio Armani's 15 high-end custom fashions dedicated to "salute to China". (Giorgio Armani)

On the fashion week, Chinese film star Fan Bingbing appeared in the first row of Versace Atelier Versace.

At the same time, Fan Bingbing was also invited to press St phane Rolland's wedding dress series fashion show, so that Stephen Roland's story in the Chinese media has been enough.

However, when the major brands open new boutiques in China to attract domestic consumers, they may also overlook a big change in the buying habits of luxury goods: in general, Chinese people do not shop at home.

"A lot of luxury brands only focus on pure economic data. They regard Beijing and Shanghai as the city of the top rich, so they decide to open flagship stores there," Lei Xiaoshan said. "The reality is that residents in Beijing and Shanghai basically do not buy luxury goods at home because they will travel abroad more.

Now, shopping in Europe is more cost-effective for them, the prices of Europe have not risen, and the euro has depreciated. "

He said that the growth of real luxury purchases will come from smaller Chinese cities.