In the first half of 2018, national tourism was on the rise with healthy growth covering both inbound and outbound travelling according to the Ministry of Culture and Tourism of the People’s Republic of China. Due to a growing economy in 2018, Chinese citizens, empowered by improving living standards and rising disposable incomes, perceived travelling as a significant way of broadening their horizons and enriching the mind, thus stimulating a rise in demand for bags and luggage for travelling.
Women’s luxury bags and small leather goods recorded the highest current value growth in 2018, outpacing other categories such as luxury bags and small leather goods targeted at men and also high-end luggage. Many Chinese women want to be employed and live independently with an improved social status.
Ethical concepts are also an important aspect of luxury leather goods in China. Ethical concepts, such as environmental and social sustainability, are in fact in line with sustainable development that is encouraged by the national government.
In the face of rising consumption of luxury goods in mainland China, industry players are focusing strongly on expansion within internet retailing, a robustly growing channel highly appreciated by young local consumers, many of whom rely heavily on online shopping. In August 2017, LVMH Moët Hennessy Louis Vuitton with its renowned brand Loewe gained an early advantage by being sold through an e-commerce platform in China through a business collaboration with Tmall.
In December 2017, Stella McCartney announced its strategic partnership with Alibaba Group by setting up a flash store on Tmall.com, thus creating a route to reach a wider consumer base for its luxury leather goods in China.
In 2017, growth of Chinese luxury leather goods enabled industry players to adopt localised strategies, as consumers in China came to be regarded as a significant driving force on a global scale. To increase their competitiveness, luxury brands launched festival-themed leather goods, in particular, those designed to cater to Chinese shopping events.
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