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Country Report
Luxury Goods in
China
- Argentina
- Australia
- Brazil
- Canada
- China
- France
- Germany
- Hong Kong, China
- Hong Kong, China
- India
- Indonesia
- Italy
- Japan
- Malaysia
- Mexico
- Netherlands
- Philippines
- Poland
- Romania
- Russia
- Singapore
- South Africa
- South Korea
- Spain
- Sweden
- Switzerland
- Taiwan
- Thailand
- Turkey
- Ukraine
- United Arab Emirates
- United Kingdom
- USA
Luxury Goods in China
Jan 2020
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Executive Summary
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China becoming increasingly central to luxury brands’ strategies
With continued strong growth in 2019, China is becoming increasingly central to the global strategies of luxury goods brands, encouraging major multinational players to invest in local production, as well as tailoring their product development, marketing and distribution strategies to the specific requirements of the local market. Premium and luxury cars manufacturer, Tesla, opened its first factory outside the US in Shanghai in 2019, while fine wines/champagne and spirits player, Pernod Ricard plans to open China’s first whiskey distillery by 2021.
Millennials and Gen Z consumers shaping market development
Millennials have become the primary drivers of growth in luxury goods in the Chinese market. Moreover, Gen Z consumers are also becoming an increasingly prominent force, further magnifying the onus on luxury goods brands to adapt their product offers, brand images and distribution strategies to the preferences and sensibilities of younger consumers.
Major players see strong growth across a number of categories
The top four players in the Chinese luxury goods market are all specialists in premium and luxury cars, primarily because of the high unit prices commanded in the category. Indeed, six of the top eight luxury goods players are car manufacturers, with the other two being distillers.
Growing emphasis on e-commerce
While store-based retailing continues to dominate luxury goods sales, it has become increasingly difficult for brands to ignore the dynamism and growing influence of e-commerce in the Chinese market, especially as they have sought to generate recognition and sales amongst younger consumers. Across personal luxury categories, major brands have increasingly partnered with e-commerce platforms such as Tmall and JD.
Evolving environment providing opportunities for further expansion
While not expected to achieve the dynamism of the review period, the Chinese luxury goods market is forecast to see strong growth over 2019-2024. The market’s expansion will be driven by growing demand amongst Millennial and Gen Z consumers, supported by luxury brands’ increasing focus on tailoring their product innovation, marketing and distribution strategies to these consumer groups.
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Overview
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Overview
Discover the latest market trends and uncover sources of future market growth for the Luxury Goods industry in China with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Luxury Goods industry in China, our research will save you time and money while empowering you to make informed, profitable decisions.
The Luxury Goods in China market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- What is the market size of Luxury Goods in China?
- What are the major brands in China?
- How dynamic is the growth of Luxury Goods internet sales?
- What is driving growth?
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Request more informationTable of Contents
Luxury Goods in China
EXECUTIVE SUMMARY
China becoming increasingly central to luxury brands’ strategies
Millennials and Gen Z consumers shaping market development
Major players see strong growth across a number of categories
Growing emphasis on e-commerce
Evolving environment providing opportunities for further expansion
MARKET INDICATORS
Table 1 Number of High Net Worth Individuals (HNWI): 2014-2019MARKET DATA
Table 2 Sales of Luxury Goods by Category: Value 2014-2019Table 3 Sales of Luxury Goods by Category: % Value Growth 2014-2019
Table 4 Inbound Receipts for Luxury Goods by Country of Origin: Value 2014-2019
Table 5 NBO Company Shares of Luxury Goods: % Value 2014-2018
Table 6 LBN Brand Shares of Luxury Goods: % Value 2015-2018
Table 7 Distribution of Luxury Goods by Format and Category: % Value 2019
Table 8 Forecast Sales of Luxury Goods by Category: Value 2019-2024
Table 9 Forecast Sales of Luxury Goods by Category: % Value Growth 2019-2024
SOURCES
Summary 1 Research SourcesDesigner Apparel and Footwear (Ready-To-Wear) in China
HEADLINES
PROSPECTS
Responding to competition from high street fashion
Trend towards athleisure in effort to appeal to younger consumers
Sustainability in fashion
COMPETITIVE LANDSCAPE
Brands apologise for perceived insults to sovereignty
Luxury brands target sports trend
Major brands showcasing collections at Shanghai fashion shows
CATEGORY DATA
Table 10 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2014-2019Table 11 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2014-2019
Table 12 NBO Company Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2014-2018
Table 13 LBN Brand Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2015-2018
Table 14 Distribution of Designer Apparel and Footwear (Ready-to-Wear) by Format: % Value 2014-2019
Table 15 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2019-2024
Table 16 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2019-2024
Experiential Luxury in China
HEADLINES
PROSPECTS
Growing consumer emphasis on experience
Expansion in domestic tourism providing a boost to experiential luxury
COMPETITIVE LANDSCAPE
Personal luxury brands entering experiential luxury
CATEGORY DATA
Table 17 Sales of Experiential Luxury by Category: Value 2014-2019Table 18 Sales of Experiential Luxury by Category: % Value Growth 2014-2019
Table 19 NBO Company Shares of Experiential Luxury: % Value 2014-2018
Table 20 LBN Brand Shares of Experiential Luxury: % Value 2015-2018
Table 21 Forecast Sales of Experiential Luxury by Category: Value 2019-2024
Table 22 Forecast Sales of Experiential Luxury by Category: % Value Growth 2019-2024
Fine Wines/Champagne and Spirits in China
HEADLINES
PROSPECTS
Baijiu dominates fine wines/champagne and spirits
Younger adult consumers increasingly turn to luxury drinks for casual consumption
Brands look beyond traditional marketing
COMPETITIVE LANDSCAPE
Traditional brands work to diversify consumer bases
Pernod Ricard to open China’s first whiskey distillery
Small-bottled products emerging
CATEGORY DATA
Table 23 Sales of Fine Wines/Champagne and Spirits by Category: Value 2014-2019Table 24 Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2014-2019
Table 25 NBO Company Shares of Fine Wines/Champagne and Spirits: % Value 2014-2018
Table 26 LBN Brand Shares of Fine Wines/Champagne and Spirits: % Value 2015-2018
Table 27 Distribution of Fine Wines/Champagne and Spirits by Format: % Value 2014-2019
Table 28 Forecast Sales of Fine Wines/Champagne and Spirits by Category: Value 2019-2024
Table 29 Forecast Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2019-2024
Luxury Eyewear in China
HEADLINES
PROSPECTS
Luxury brands take control of eyewear operations
Chinese manufacturers play role of OEM
Multi-brand boutique stores influencing development of luxury eyewear
COMPETITIVE LANDSCAPE
Essilor and Luxottica merger complete
Safilo loses another major licence
Gentle Monster riding popularity of Korean pop culture
CATEGORY DATA
Table 30 Sales of Luxury Eyewear by Category: Value 2014-2019Table 31 Sales of Luxury Eyewear by Category: % Value Growth 2014-2019
Table 32 NBO Company Shares of Luxury Eyewear: % Value 2014-2018
Table 33 LBN Brand Shares of Luxury Eyewear: % Value 2015-2018
Table 34 Distribution of Luxury Eyewear by Format: % Value 2014-2019
Table 35 Forecast Sales of Luxury Eyewear by Category: Value 2019-2024
Table 36 Forecast Sales of Luxury Eyewear by Category: % Value Growth 2019-2024
Luxury Foodservice in China
HEADLINES
PROSPECTS
Brands look to luxury foodservice to engage consumers
Luxury brands attracted to the café segment
Acceptance of Western cuisine creates opportunities for luxury brands
COMPETITIVE LANDSCAPE
International brands increasingly attracted to luxury foodservice in China
Blancpain opens lounge bar in Shanghai
Cova appeals to Chinese Millennials with high-end offer and local products
CATEGORY DATA
Table 37 Sales in Luxury Foodservice: Value 2014-2019Table 38 Sales in Luxury Foodservice: % Value Growth 2014-2019
Table 39 NBO Company Shares in Luxury Foodservice: % Value 2014-2018
Table 40 LBN Brand Shares in Luxury Foodservice: % Value 2015-2018
Table 41 Forecast Sales in Luxury Foodservice: Value 2019-2024
Table 42 Forecast Sales in Luxury Foodservice: % Value Growth 2019-2024
Luxury Hotels in China
HEADLINES
PROSPECTS
Growing emphasis on experience boosts luxury segment
Wellness tourism gaining in popularity
Luxury hotel brands looking beyond Tier 1 cities
COMPETITIVE LANDSCAPE
Marriott International benefits from Alibaba partnership
IHG focusing on lower tier cities
Personal luxury brands moving into hotels
CATEGORY DATA
Table 43 Sales in Luxury Hotels: Value 2014-2019Table 44 Sales in Luxury Hotels: % Value Growth 2014-2019
Table 45 Sales in Luxury Hotels by Country of Origin: % Value 2014-2019
Table 46 NBO Company Shares in Luxury Hotels: % Value 2014-2018
Table 47 LBN Brand Shares in Luxury Hotels: % Value 2015-2018
Table 48 Forecast Sales in Luxury Hotels: Value 2019-2024
Table 49 Forecast Sales in Luxury Hotels: % Value Growth 2019-2024
Luxury Jewellery in China
HEADLINES
PROSPECTS
Declining wedding rate has negative impact
Self-reward becoming increasingly important growth driver
Leading brands compete for attention
COMPETITIVE LANDSCAPE
Foreign brands dominate
Prada launches luxury jewellery line
Chow Tai Fook benefits from strong demand for gold jewellery
CATEGORY DATA
Table 50 Sales of Luxury Jewellery by Category: Value 2014-2019Table 51 Sales of Luxury Jewellery by Category: % Value Growth 2014-2019
Table 52 NBO Company Shares of Luxury Jewellery: % Value 2014-2018
Table 53 LBN Brand Shares of Luxury Jewellery: % Value 2015-2018
Table 54 Distribution of Luxury Jewellery by Format: % Value 2014-2019
Table 55 Forecast Sales of Luxury Jewellery by Category: Value 2019-2024
Table 56 Forecast Sales of Luxury Jewellery by Category: % Value Growth 2019-2024
Luxury Leather Goods in China
HEADLINES
PROSPECTS
Vintage trend strong in luxury leather goods
Younger consumers appreciate the affordability of luxury leather goods
Care for leather goods is core of luxury care services
COMPETITIVE LANDSCAPE
LVMH targets e-commerce boom
VAT cut boosts local demand
LVMH buys stake in Stella McCartney
CATEGORY DATA
Table 57 Sales of Luxury Leather Goods: Value 2014-2019Table 58 Sales of Luxury Leather Goods: % Value Growth 2014-2019
Table 59 NBO Company Shares of Luxury Leather Goods: % Value 2014-2018
Table 60 LBN Brand Shares of Luxury Leather Goods: % Value 2015-2018
Table 61 Distribution of Luxury Leather Goods by Format: % Value 2014-2019
Table 62 Forecast Sales of Luxury Leather Goods: Value 2019-2024
Table 63 Forecast Sales of Luxury Leather Goods: % Value Growth 2019-2024
Luxury Portable Consumer Electronics in China
HEADLINES
PROSPECTS
Luxury mobile phones struggling to compete with technologically advanced domestic brands
Luxury brands embracing technology
Fitness trend boosting sales of smart wearables
COMPETITIVE LANDSCAPE
Major luxury brands target smart watches
Citizen Watch working to expand in smart arena
Domestic brand launches luxury 5G smartphone
CATEGORY DATA
Table 64 Sales of Luxury Portable Consumer Electronics by Category: Value 2014-2019Table 65 Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2014-2019
Table 66 NBO Company Shares of Luxury Portable Consumer Electronics: % Value 2014-2018
Table 67 LBN Brand Shares of Luxury Portable Consumer Electronics: % Value 2015-2018
Table 68 Distribution of Luxury Portable Consumer Electronics by Format: % Value 2014-2019
Table 69 Forecast Sales of Luxury Portable Consumer Electronics by Category: Value 2019-2024
Table 70 Forecast Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2019-2024
Luxury Timepieces in China
HEADLINES
PROSPECTS
Focus on e-commerce expansion
Strong demand amongst middle-aged male consumers
Targeting the personalisation trend
COMPETITIVE LANDSCAPE
Swiss watchmakers taking control of distribution
TAG Heuer partners with China Aerospace Agency to raise brand awareness
Chanel targets successful young women
CATEGORY DATA
Table 71 Sales of Luxury Timepieces by Category: Value 2014-2019Table 72 Sales of Luxury Timepieces by Category: % Value Growth 2014-2019
Table 73 NBO Company Shares of Luxury Timepieces: % Value 2014-2018
Table 74 LBN Brand Shares of Luxury Timepieces: % Value 2015-2018
Table 75 Distribution of Luxury Timepieces by Format: % Value 2014-2019
Table 76 Forecast Sales of Luxury Timepieces by Category: Value 2019-2024
Table 77 Forecast Sales of Luxury Timepieces by Category: % Value Growth 2019-2024
Luxury Writing Instruments and Stationery in China
HEADLINES
PROSPECTS
Luxury writing instruments and stationery benefits from consumer nostalgia
Luxury stationery can create a buzz, but many consumers remain sceptical
Pens still have role to play in professional environment
COMPETITIVE LANDSCAPE
Mont Blanc Commercial (China) Co Ltd holds a strong lead
A peripheral concern for luxury brands
Marketing activity has a limited impact
CATEGORY DATA
Table 78 Sales of Luxury Writing Instruments and Stationery: Value 2014-2019Table 79 Sales of Luxury Writing Instruments and Stationery: % Value Growth 2014-2019
Table 80 NBO Company Shares of Luxury Writing Instruments and Stationery: % Value 2014-2018
Table 81 LBN Brand Shares of Luxury Writing Instruments and Stationery: % Value 2015-2018
Table 82 Distribution of Luxury Writing Instruments and Stationery by Format: % Value 2014-2019
Table 83 Forecast Sales of Luxury Writing Instruments and Stationery: Value 2019-2024
Table 84 Forecast Sales of Luxury Writing Instruments and Stationery: % Value Growth 2019-2024
Personal Luxury in China
HEADLINES
PROSPECTS
Millennials and Gen Z key target groups in personal luxury
Reduced price gap boosts sales
Sustainability an increasingly important theme for manufacturers and consumers
COMPETITIVE LANDSCAPE
Major multinational brands dominate
Taking greater control
Personal luxury brands increasingly focus on e-commerce
CATEGORY DATA
Table 85 Sales of Personal Luxury by Category: Value 2014-2019Table 86 Sales of Personal Luxury by Category: % Value Growth 2014-2019
Table 87 NBO Company Shares of Personal Luxury: % Value 2014-2018
Table 88 LBN Brand Shares of Personal Luxury: % Value 2015-2018
Table 89 Distribution of Personal Luxury by Format: % Value 2014-2019
Table 90 Forecast Sales of Personal Luxury by Category: Value 2019-2024
Table 91 Forecast Sales of Personal Luxury by Category: % Value Growth 2019-2024
Super Premium Beauty and Personal Care in China
HEADLINES
PROSPECTS
Younger consumers show strong demand for efficacy
Gen Z shows stronger focus on self-expression than previous generations
Increasing emphasis on sustainability
COMPETITIVE LANDSCAPE
Pop-up stores become a prominent way to generate consumer interest
Colour cosmetics an important entry point for luxury brands
CATEGORY DATA
Table 92 Sales of Super Premium Beauty and Personal Care by Category: Value 2014-2019Table 93 Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2014-2019
Table 94 NBO Company Shares of Super Premium Beauty and Personal Care: % Value 2014-2018
Table 95 LBN Brand Shares of Super Premium Beauty and Personal Care: % Value 2015-2018
Table 96 Distribution of Super Premium Beauty and Personal Care by Format: % Value 2014-2019
Table 97 Forecast Sales of Super Premium Beauty and Personal Care by Category: Value 2019-2024
Table 98 Forecast Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2019-2024
Premium and Luxury Cars in China
HEADLINES
PROSPECTS
Removal of additional tariff lowers prices of US-made cars
Manufacturers target demand for personalisation
Increasingly favourable environment for electric vehicles
COMPETITIVE LANDSCAPE
German brands dominate
Tesla opens factory in Shanghai
“Second tier” brands gaining in popularity
CATEGORY DATA
Table 99 Sales of Premium and Luxury Cars: Value 2014-2019Table 100 Sales of Premium and Luxury Cars: % Value Growth 2014-2019
Table 101 NBO Company Shares of Premium and Luxury Cars: % Value 2014-2018
Table 102 LBN Brand Shares of Premium and Luxury Cars: % Value 2015-2018
Table 103 Forecast Sales of Premium and Luxury Cars: Value 2019-2024
Table 104 Forecast Sales of Premium and Luxury Cars: % Value Growth 2019-2024
Why buy this report?
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
Want to find out more about this report?
Request more informationComplete Catalogue
Country Reports
- Luxury Goods in Argentina | Jan 2020
- Luxury Goods in Australia | Feb 2020
- Luxury Goods in Brazil | Feb 2020
- Luxury Goods in Canada | Jan 2020
- Luxury Goods in France | Jan 2020
- Luxury Goods in Germany | Feb 2020
- Luxury Goods in Hong Kong, China | Feb 2019
- Luxury Goods in Hong Kong, China | Jan 2020
- Luxury Goods in India | Feb 2020
- Luxury Goods in Indonesia | Jan 2020
- Luxury Goods in Italy | Jan 2020
- Luxury Goods in Japan | Jan 2020
- Luxury Goods in Malaysia | Jan 2020
- Luxury Goods in Mexico | Feb 2020
- Luxury Goods in Poland | Jan 2020
- Luxury Goods in Romania | Jan 2020
- Luxury Goods in Russia | Jan 2020
- Luxury Goods in Singapore | Feb 2020
- Luxury Goods in South Africa | Feb 2020
- Luxury Goods in South Korea | Jan 2020
- Luxury Goods in Spain | Jan 2020
- Luxury Goods in Sweden | Jan 2020
- Luxury Goods in Switzerland | Jan 2020
- Luxury Goods in Taiwan | Feb 2020
- Luxury Goods in Thailand | Feb 2020
- Luxury Goods in the Netherlands | Jan 2020
- Luxury Goods in the Philippines | Jan 2020
- Luxury Goods in the United Arab Emirates | Mar 2020
- Luxury Goods in the United Kingdom | Jan 2020
- Luxury Goods in the US | Feb 2020
- Luxury Goods in Turkey | Jan 2020
- Luxury Goods in Ukraine | Jan 2020
Strategy Reports
Company Reports
- Bulgari SpA in Luxury Goods | Jan 2011
- Burberry Group Plc in Luxury Goods | Jul 2018
- Coach Inc in Luxury Goods | Mar 2015
- Compagnie Financière Richemont SA in Luxury Goods | May 2014
- Fifth & Pacific Companies Inc in Luxury Goods | Jul 2014
- Gucci Group NV in Luxury Goods | Nov 2010
- Hermès International SCA in Luxury Goods | Mar 2016
- Kering SA in Luxury Goods | Jan 2016
- LVMH Moët Hennessy Louis Vuitton SA in Luxury Goods | Mar 2018
- Moncler SpA in Luxury Goods | Jun 2014
- Polo Ralph Lauren Corp in Luxury Goods | May 2013
- PPR SA in Luxury Goods | Jun 2013
- Prada SpA in Luxury Goods | Mar 2016
- Ralph Lauren Corp in Luxury Goods | Jul 2019
- Richemont SA, Cie Financière in Luxury Goods | Mar 2015
- Salvatore Ferragamo SpA in Luxury Goods | Oct 2019
- Swatch Group Ltd, The in Luxury Goods | Jan 2011
- Tiffany & Co in Luxury Goods | Jun 2013
- Tory Burch Llc in Luxury Goods | Jun 2014
- Valentino Fashion Group SpA in Luxury Goods | Jan 2011
Complete Catalogue
Country Reports
- Luxury Goods in Argentina | Jan 2020
- Luxury Goods in Australia | Feb 2020
- Luxury Goods in Brazil | Feb 2020
- Luxury Goods in Canada | Jan 2020
- Luxury Goods in France | Jan 2020
- Luxury Goods in Germany | Feb 2020
- Luxury Goods in Hong Kong, China | Feb 2019
- Luxury Goods in Hong Kong, China | Jan 2020
- Luxury Goods in India | Feb 2020
- Luxury Goods in Indonesia | Jan 2020
- Luxury Goods in Italy | Jan 2020
- Luxury Goods in Japan | Jan 2020
- Luxury Goods in Malaysia | Jan 2020
- Luxury Goods in Mexico | Feb 2020
- Luxury Goods in Poland | Jan 2020
- Luxury Goods in Romania | Jan 2020
- Luxury Goods in Russia | Jan 2020
- Luxury Goods in Singapore | Feb 2020
- Luxury Goods in South Africa | Feb 2020
- Luxury Goods in South Korea | Jan 2020
- Luxury Goods in Spain | Jan 2020
- Luxury Goods in Sweden | Jan 2020
- Luxury Goods in Switzerland | Jan 2020
- Luxury Goods in Taiwan | Feb 2020
- Luxury Goods in Thailand | Feb 2020
- Luxury Goods in the Netherlands | Jan 2020
- Luxury Goods in the Philippines | Jan 2020
- Luxury Goods in the United Arab Emirates | Mar 2020
- Luxury Goods in the United Kingdom | Jan 2020
- Luxury Goods in the US | Feb 2020
- Luxury Goods in Turkey | Jan 2020
- Luxury Goods in Ukraine | Jan 2020
Strategy Reports
Company Reports
- Bulgari SpA in Luxury Goods | Jan 2011
- Burberry Group Plc in Luxury Goods | Jul 2018
- Coach Inc in Luxury Goods | Mar 2015
- Compagnie Financière Richemont SA in Luxury Goods | May 2014
- Fifth & Pacific Companies Inc in Luxury Goods | Jul 2014
- Gucci Group NV in Luxury Goods | Nov 2010
- Hermès International SCA in Luxury Goods | Mar 2016
- Kering SA in Luxury Goods | Jan 2016
- LVMH Moët Hennessy Louis Vuitton SA in Luxury Goods | Mar 2018
- Moncler SpA in Luxury Goods | Jun 2014
- Polo Ralph Lauren Corp in Luxury Goods | May 2013
- PPR SA in Luxury Goods | Jun 2013
- Prada SpA in Luxury Goods | Mar 2016
- Ralph Lauren Corp in Luxury Goods | Jul 2019
- Richemont SA, Cie Financière in Luxury Goods | Mar 2015
- Salvatore Ferragamo SpA in Luxury Goods | Oct 2019
- Swatch Group Ltd, The in Luxury Goods | Jan 2011
- Tiffany & Co in Luxury Goods | Jun 2013
- Tory Burch Llc in Luxury Goods | Jun 2014
- Valentino Fashion Group SpA in Luxury Goods | Jan 2011