Demand For Luxury Goods In China Slows Down, International Brands Aim For Africa

The demand for Zegna in Greater China is slowing down, with the world's largest sales of men's luxury brands, P. Although the brand's revenue in emerging markets increased by 12 percentage points in 2012, some companies are optimistic about Africa's future market. < /p >
P, a considerable number of luxury brands, has been increasing in volume in recent years due to rising demand in China, but this year it has announced global slowdown. Zegna is the latest one. Reported that the first quarter of this year, PPR, Louis Vuitton announced sales less than expected. This may be related to the strong anti-corruption efforts of the Chinese government and the consumer's unease about the economic slowdown. < /p >
< p > "this year's market is not as good as last year's. We must be prepared to deal with unexpected circumstances, "said Zegna chairman Gildo Zegna." because not only the sales volume in the Greater China region is slowing down, but the global situation is also uncertain. " < /p >
"P", but Zegna said it is still optimistic about the long-term development of luxury brands. This is because companies not only see China's emerging luxury consumer groups, but also new consumers in Latin America, Indonesia and Africa. In April, Zegna opened its first store in Africa, in Lagos, Nigeria. Zegna also considered opening more stores in Angola and Mozambique in 2014. < /p >
"P", "Africa will become a battleground for luxury brands, but it's far from that day, because most Africans are still used to buying luxury goods abroad when traveling." Zegna says. < /p >