Second Hand Luxury Stores In China Do Not Regulate French Electricity Providers To Land In China

More than 120 second-hand luxury handbags and accessories appear on the Hongkong Christie's fair.

This is a special addition for Christie's to launch second-hand luxury handbags and accessories business in Hongkong this year. The total value of all the products is 7 million.

Many people in the industry believe that the event itself is also a sign that Christie, one of the global auction giants, has begun to enter the emerging luxury market in China.

A few weeks ago, InstantLuxe, a second-hand luxury goods trading platform in France, also announced its official entry into the Chinese market.

Yann Le Floch, the founder of its website, is optimistic about China's second hand luxury market. He admits that InstantLuxe's market positioning and business purpose is to "buy consumers' luxury goods at a better price."

Christie's "handbags and accessories" auction products featured many classic luxury brands such as Bottega Veneta, Chanel, Hermes, Louis Vuitton[micro-blog, and so on. The classic products of Hongkong luxury brand are also available.

"This brand new auction category has attracted the interest of global collectors since it was first launched on private shopping and mat platforms."

Christie's had already tested the market through the special auction of the website. Lin Boming, the Matthew Rubinger, also said that the growing market of high quality luxury accessories in Asia is increasingly expanding, and the demand is becoming more and more mature and the manufacturing technology is becoming more and more sophisticated. Christie's hopes to create a new trading platform for this broad prospect of auction by auction and private purchase.

In luxury stores in New York, Paris, Milan and Dubai, Chinese luxury buyers have never been surprised. In Beijing, Shanghai, Chengdu and Shenzhen, luxury stores are closed for a short time. Most of them are not for renovation, but for top customers from the top class.

The Institute of wealth research conducted a survey of about 200 second-hand luxury jewelry stores in Beijing, Shanghai and Guangzhou. The results show that the total sales volume in the first half of 2013 amounted to 3 billion yuan (or $490 million).

Compared with the whole of China

The sales volume is only a small part of the market.

Although the previous anti-corruption intensity has obviously suppressed the development of luxury goods such as fur and Swiss watches in the elite class, it has further stimulated the thriving market of the second hand luxury goods market.

Compared with the growth of 5%-7% in the traditional luxury goods industry in 2012, according to the report of the Institute of wealth quality, the second-hand luxury market in China increased by more than 20% during the year.

Yann Le Floch said: "InstantLuxe chose to enter the Chinese market under the Chinese government's efforts to crack down on corruption. It is the disharmony between market demand and supply that most consumers want to have luxury goods at a lower price."

The rise of the second hand luxury market is closely related to the characteristics of China's luxury market.

Since the 90s of last century, as a channel for the wealthy class to deal with luxury goods (mostly gifts), pawnshops in the streets have been increasing. By 2011, all kinds of second-hand luxury goods shops imitated by Hongkong Milan station have springing up everywhere in the first tier cities, and the original source of goods from Hongkong Milan station is mainly dependent on the idle commodities of local ladies and gentlemen.

After the holiday, second-hand luxury stores will flourishing.

In the buyer's market, as more and more people travel abroad, especially in Asian countries that have been used for luxury luxury stores in Japan and Korea, more and more people have accepted the idea of using second-hand valuables.

At present, companies active in the second hand luxury goods market in China are mainly divided into two camps, the buyout mode represented by Milan station and Brand Off and the consignment mode represented by Temple library.

The former is in cash purchase low buy and sell high, gross profit is about 20%, mainly with bags, while the latter is for the cargo owners to offer a channel of 10% service charge, in addition to bags including jewelry, watches, clothing, accessories.

However, the development of the former is not smooth. Taking Milan station as an example, first of all, when entering the Chinese mainland market, it encountered difficulties in trademark registration because of many competitors with the same name. Subsequently, the shops did not spread quickly as planned, and even lost 13 million 900 thousand Hong Kong dollars in 2012.

On the contrary, the temple library registered 600 thousand users in a short span of two years. In 2011 and 2012, it completed a total of 40 million US dollars in two rounds of AB financing. It was more aware of the characteristics of the mainland market, guaranteed the rapid circulation of cash and goods in consignment form, and aimed at the low asset consumption group, and the operation mode of combining online operation with offline experience was more acceptable to the mainland market.

For those companies that want to enter the market, the failure of the Milan station reflects some problems: the supply of goods, especially the second-hand goods, is the key to the victory of the second hand luxury market. There is not enough seller resources, and the renewal of products is not fast enough. It is just that the classic products are not enough to attract consumers who are becoming younger and more fashionable, more fashionable, and more independent in their purchase intention (rather than just giving gifts). Cash in products can not be sold in a timely manner, which will inevitably result in cash flow interruption. The lack of enough luxury identification and maintenance personnel, most secondary luxury operators and luxury brands do not have a good interactive relationship, so it is difficult to get more professional support through luxury brands.

According to the Research Institute of wealth quality, 80% of the so-called second-hand luxury goods in the market are counterfeit goods, namely fake goods, Louis Vuitton, GUCCI[micro-blog], Chanel, Hermes and Prada, which occupy the top five of the fake visibility list. In this case, if the second-hand luxury goods vendors do not have enough expertise, it will lead to a significant reduction in consumer purchase intention.

"The problem of counterfeit goods in China is very serious now.

Even in Hermes stores, there have been problems with counterfeit goods.

Temple library founder Li Rixue said, "so when I first started doing Temple library, I would identify it as the core business of temple library.

At present, the temple appraisal team has more than 40 professional appraisers.

At the same time, more and more international brand discount shops are stationed in China, and some consumers are shunting.

Interestingly, Western buyers have long been eager for the Chinese market. Compared with the traditional luxury goods market in Europe and America, the number of luxury goods that Chinese consumers have hoarded in recent years is large, and high-end products are in the majority. A large number of them are gifts. This means that the products are new, most of them have never been used, and they should be one of the top ones in fashion and fashion.

Many buyers from Europe and Japan quietly entered the Chinese market to buy products.

Although the second-hand luxury goods traders and auction houses are optimistic about this market, Bain consulting also points out that the international second-hand luxury market has a capacity of about 19 billion US dollars and is growing rapidly. The Chinese luxury goods industry insiders say that the growth rate of the luxury market in mainland China has slowed down significantly under the double blow of anti-corruption and economic slowdown, which may affect the development of the second hand luxury market in China.

According to Bain data, China's personal luxury consumption will decline for the first time in ten years this year, and China's luxury goods sales are expected to decline by 1% this year.

The European information consulting firm believes that the size of China's luxury goods market will drop from third to fourth in 2014, and its expectations for the Chinese market are also reduced.