Global Epidemic Situation Unknown: Chinese Market Becomes The Base Of Luxury Brands' Rapid Recovery

The Chinese market has become the base of the rapid recovery of luxury brands.

In the third quarter, the Chinese market of Italian luxury brand Ferragamo increased by more than 38%, the sales of luxury clothing goods Ralph Lauren in China increased by 30% year on year, and the sales of jewelry luxury brand Tiffany in Greater China led the global market with a high growth rate of 70%. At the same time, almost all other luxury brands in China ushered in different degrees of sales rebound.

Bain predicts that luxury sales in China will rise 45% to 44 billion euro in 2020, and it is expected to surpass Europe and the United States to become the global luxury market by 2025.

The high double-digit growth has undoubtedly enhanced the confidence of luxury giants in China, and they have made frequent actions in the omni channel layout of the Chinese market.

On December 25, British brand Yager Shidan opened its new store in huihenglong Plaza, Shanghai port. In an exclusive interview, Li Xianghu, executive director of Shanghai Yuxiang Industrial Co., Ltd., an agent in Greater China, said in an exclusive interview that the product line of Yager Shidan will open 100 stores in the Chinese market in the next three years, and will develop into the Chinese market through the positioning of luxury brands and the transformation of youth.

First leather goods store in Hong Kong

This time, the national first store of Yager Shidan leather product line chose to settle in huihenglong square, Shanghai port. Prior to this, in November, Hang Lung announced the completion of three years of all-round optimization. At present, the first floor has settled in luxury brands such as LV and Gucci.

Li Xianghu told yingshang.com that the arrival of Yager Shidan on the second floor of huihenglong will further consolidate the image positioning of the brand by gathering together light luxury and fashionable luxury products with similar positioning.

It is not difficult to find from the new store layout of Yager Shidan leather goods line that the brand has integrated the century old luxury culture and fashion young positioning in an all-round way.

In the store design, the representative lattice elements of Yager Shidan are most widely used. The lattice shapes contained in the store appearance and wall surface show different fashion changes through color and layout display. In terms of brand packaging image building, Yager Shidan also selects a younger and more lively orange as the main color for all brand accessories such as handbags, boxes, packaging, business cards, etc.

In addition, the concept of "a" in the brand name "aquascutum" is also attached to the store image and the main bags, shoes and leather goods products in the store. With clear and large logo pattern, it creates and improves the brand awareness of Yager Shidan in the consumer side.

The layout of fashionable luxury goods adopted by Yager Shidan has changed the traditional impression of the old brands in the minds of consumers, and created a new brand power of fashion and luxury. Li Xianghu said that in the future, the store design of new regular price stores and OLE stores will create a young and fashionable fashion luxury product positioning by combining the lattice shape of the brand and the big logo elements.

Co distribution of products and channels

Undoubtedly, younger age will be the key to opening China's luxury market.

According to Tencent marketing insight (TMI) and Boston Consulting Company (BCG) jointly released the "2020 China luxury consumer digital behavior insight report", the Chinese luxury consumer population is on a younger trend. Among them, consumers under the age of 30 account for more than 50%.

In addition to the store design and brand positioning, the century old brand Yager Shidan has been constantly innovating products for the young market. As early as 2016, Yager Shidan co branded a series of products with fashion brand supreme, such as scarf accessories. The combination of check pattern and street culture triggered a rush of consumers. Li Xianghu revealed that in the future, Yager Shidan will actively develop linkage plans to further enrich the SKU of leather line while attracting young people.

In addition, for brands, the layout of terminal channels goes hand in hand with product force grinding.

After Hongkong huihenglong store, by the end of January 2021, Yager Shidan will settle in in99, Chengdu Yintai Center, and Hangzhou building in April, to further spread its image positioning of light luxury and fashion luxury through brand aggregation effect.

How will the number of stores of the brand expand in the future? Li Xianghu told yingshang.com that in his preliminary three-year plan, in the first half of 2021, the leather goods stores of yageshidan will quickly cover the high-end shopping malls in first tier cities and mainstream Ole, with at least 20 stores by the end of the year. The number of stores in China will rise to 60-70 in 2022 and reach 120 by the end of 2023.

It is not difficult to find that this 100 year old British luxury has made comprehensive preparations for the Chinese market.