Light Luxury Goods Are Becoming Popular In China Market.

The 2015 spring report of global luxury market monitoring released by Italy luxury industry association shows that the fluctuation of exchange rate, the pricing strategy and distribution channels of luxury brands in various markets are the main reasons for the massive outflow of luxury consumption in China.

Affected by this, the Asia Pacific luxury market led by China was almost stagnant in the first half of 2015.

Chen Rui, the partner of domestic management consulting company, is more optimistic about the future of light luxury brands. "The mainstream purchasing power of China is changing from the high-end to the middle class, and the positioning of the luxury brand products coincides with the demand of this group of consumer groups. Therefore, it will have a relatively stable growth space."

Chen Rui predicted so.

"Although COACH has increased in China this year, its growth has slowed sharply over the past few years."

Yang Baoyan, President and chief executive officer of Cox China, looks at the plight of luxury goods in China, which shows that China's luxury consumer market has returned to a rational state and has entered a relatively mature stage.

In the face of such changes,

Adjusted its brand strategy in the Chinese market.

Yang Baoyan noted that over the past few years, more and more consumers have been less enthusiastic about highlighting LOGO's high-end products, and began to focus on low-key and restrained mid marketing products.

"Before, the sales of bags with branded LO-GO are very impressive, but the situation is quite different now, and few of them are interested."

Yang Baoyan said that after seeing this change, he launched a leather bag to dilute LOGO.

The maturity of the market is not only reflected in the rational consumption of large brand products, but also in its attention to light luxury brands.

"Not so much as the luxury market in China, it is better to say China's luxury consumption.

There has been differentiation. "

Zhou Ting, President of the Institute of wealth and quality, believes that although the performance of traditional luxury goods has slowed down in China, sales of some light luxury brands still maintain double-digit growth in the Chinese market.

The US luxury brand MichaelKors is a good example.

According to its 2014 earnings report, the total revenue of the company in 2014 was 917 million 500 thousand US dollars, up 53.6% over the same period last year, and the sales in the Chinese market increased by 64% over the same period last year.

The reason for the rise of light luxury brands is that Zhou Ting believes that domestic consumers are tired of traditional luxury brands, so once emerging brands emerge, they will easily attract their attention.

With this change, luxury brands will divert consumer groups when the growth rate of luxury goods is declining.