Elena Piwe: China's Luxury Consumption Needs To Be Guided

Former president of Italy, President of Sino Italian Friendship Association, senior consultant of Zhongfa business management group. Elena Piwe She told reporters that she first came to China in 1997, and now that nearly 20 years have passed, the Chinese market has changed enormously. As far as luxury consumption is concerned, she says she does not want China to absorb too many Western elements, but lose its eastern character. Consumer culture should "pay attention to balance".

In addition, the luxury industry is now overly commercialized and abandons the essence of luxury goods. She advocates that Chinese consumers should pay more attention to the quality of luxury products, understand the cultural background behind the brand, reach the realm of mind and soul, and not only pay attention to the gorgeous appearance of luxury goods, but also pay more attention to the materials used and the tailoring process.

She said she plans to set up a fashion Institute in Fengjing World Shopping Park in Shanghai to teach students how to choose materials instead of learning how to design luxury products. She will hire a large number of industry experts to the park to promote Chinese appreciation of Western luxury goods, and attract investors to enter.

She told reporters that the park is a great opportunity for Asia because the park brings together western luxury brands and sales, while in Europe it is more dispersed.

For Chinese enterprises, they are committed to building the mainland. Luxury goods The trend, she thinks, is that Chinese companies are starting to imitate western luxury goods, but they must go deep into the interior of the product, not only the appearance but also the inner spirit.

Even if there is no successful takeover, it should be patient enough and there will be good opportunities in the future. The key is that Chinese enterprises must learn how to cooperate with locals and learn how to eliminate local concerns. She suggests that Chinese business investors can come to the park to share Italy's fashion culture in the future. This is also a two-way communication channel and a window for westerners to understand China.

She suggests that Chinese enterprises acquire European brand After that, do not focus on expanding mass production or setting up more distribution organizations, but should continue to invest in design and research to ensure product quality.

At present, some of the top luxury goods markets in Europe are more and more dependent on the Chinese market. She believes that this "risk taking" is not a good thing. These brands must rise to a higher level. The cultural input of "can't get in" is not worth promoting. Some government officials are too fond of Western luxury brands and are not healthy consumer culture. Consumption must match revenue. For example, a beautiful scarf, which is not expensive, can bring a sense of aura and fashion to professional women without having to wear high-grade clothes.

European luxury goods providers must also change their marketing strategies to guide Chinese consumers to appreciate and identify what is truly a representative of European luxury goods. For example, the red wine market, Chinese people are only superstitious brands, these brands have been fired to the sky. In fact, there are many top wine brands in Europe, and their prices are quite attractive.