{"id":52601,"date":"2021-08-17T14:58:50","date_gmt":"2021-08-17T06:58:50","guid":{"rendered":"https:\/\/daxueconsulting.com\/?page_id=52601"},"modified":"2023-04-17T15:55:09","modified_gmt":"2023-04-17T07:55:09","slug":"fashion-luxury-in-china","status":"publish","type":"page","link":"https:\/\/daxueconsulting.com\/fashion-luxury-in-china\/","title":{"rendered":"Fashion &#038; Luxury"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"52601\" class=\"elementor elementor-52601\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6289e03 elementor-section-height-min-height elementor-section-boxed elementor-section-height-default elementor-section-items-middle\" data-id=\"6289e03\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5d90fe1\" data-id=\"5d90fe1\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b37fbd0 elementor-widget elementor-widget-heading\" data-id=\"b37fbd0\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Fashion &#038; Luxury<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-69dd45f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"69dd45f\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6b554f4\" data-id=\"6b554f4\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-85503c9 elementor-widget elementor-widget-spacer\" data-id=\"85503c9\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ac6e70f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ac6e70f\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-e9eef3e\" data-id=\"e9eef3e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d98143a elementor-widget elementor-widget-text-editor\" data-id=\"d98143a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>China\u2019s luxury market is expected to surpass that of the Americas and Europe and impose itself as the <b>world\u2019s largest luxury goods market<\/b> by 2025.\u00a0However, as of 2021, Chinese spending on luxury goods has not returned to its pre-pandemic levels yet due to sporadic Covid-19 outbreaks. Meanwhile, the local luxury market is continuously evolving: the shift in Chinese luxury consumer demographics, the rise of local luxury brands, the launch of Hainan Free Trade Zone, and the demand for more digital, sustainable, and customized services are all reshaping China\u2019s luxury industry.<\/p><p>The survival of international luxury brands in China will depend on their ability to surf new trends and adopt strategies aimed at preserving their products\u2019 appeal to the new generation of Chinese consumers.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0060968 elementor-widget elementor-widget-heading\" data-id=\"0060968\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Download our China luxury industry white paper<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-8852b36 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"8852b36\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-54d9c38\" data-id=\"54d9c38\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f9db32d elementor-widget elementor-widget-image\" data-id=\"f9db32d\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"768\" height=\"491\" src=\"https:\/\/daxueconsulting.com\/wp-content\/uploads\/2022\/08\/daxue-consulting_China-luxury-industry-white-paper-cover-image-1-768x491.png\" class=\"attachment-medium_large size-medium_large wp-image-55657\" alt=\"China luxury industry white paper by daxue consulting cover\" srcset=\"https:\/\/daxueconsulting.com\/wp-content\/uploads\/2022\/08\/daxue-consulting_China-luxury-industry-white-paper-cover-image-1-768x491.png 768w, https:\/\/daxueconsulting.com\/wp-content\/uploads\/2022\/08\/daxue-consulting_China-luxury-industry-white-paper-cover-image-1-300x192.png 300w, https:\/\/daxueconsulting.com\/wp-content\/uploads\/2022\/08\/daxue-consulting_China-luxury-industry-white-paper-cover-image-1-800x511.png 800w, https:\/\/daxueconsulting.com\/wp-content\/uploads\/2022\/08\/daxue-consulting_China-luxury-industry-white-paper-cover-image-1.png 1083w\" sizes=\"(max-width: 768px) 100vw, 768px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-7e008ca\" data-id=\"7e008ca\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-123a5b6 elementor-widget elementor-widget-html\" data-id=\"123a5b6\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<script charset=\"utf-8\" type=\"text\/javascript\" src=\"\/\/js.hsforms.net\/forms\/v2.js?pre=1\"><\/script>\r\n<script>\r\n  hbspt.forms.create({\r\n    region: \"na1\",\r\n    portalId: \"21091266\",\r\n    formId: \"744833a8-95ec-4356-a341-1eb9b6b35444\"\r\n  });\r\n<\/script>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-ddcbe0d elementor-widget elementor-widget-toggle\" data-id=\"ddcbe0d\" data-element_type=\"widget\" data-widget_type=\"toggle.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-toggle\">\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-2321\" class=\"elementor-tab-title\" data-tab=\"1\" role=\"button\" aria-controls=\"elementor-tab-content-2321\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-left\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><i class=\"fas fa-caret-right\"><\/i><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><i class=\"elementor-toggle-icon-opened fas fa-caret-up\"><\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">Fast fashion in China<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-2321\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"1\" role=\"region\" aria-labelledby=\"elementor-tab-title-2321\"><p>In 2019, <a href=\"https:\/\/daxueconsulting.com\/fast-fashion-industry-china\/\">China&#8217;s fast fashion market<\/a> was worth 273.54 billion yuan, with a year-on-year increase of 16.9%.\u00a0Local brands are now able to stand up to big international names, such as Zara, Uniqlo, H&amp;M and GAP.<\/p><p>Regarding the big players of China\u2019s fast fashion market, <a href=\"https:\/\/daxueconsulting.com\/market-research-on-adidas-in-china\/\">Adidas <\/a>ranks at the top, with a market share of <a href=\"https:\/\/bg.qianzhan.com\/trends\/detail\/506\/210113-8b1dc817.html\">1.9%<\/a> in 2019.\u00a0Nike and HLA occupy second and third position.\u00a0Uniqlo, Anta, Li Ning, Skechers, Balabala, Jack&amp;Jones and Xtep follow in the ranking.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-2322\" class=\"elementor-tab-title\" data-tab=\"2\" role=\"button\" aria-controls=\"elementor-tab-content-2322\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-left\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><i class=\"fas fa-caret-right\"><\/i><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><i class=\"elementor-toggle-icon-opened fas fa-caret-up\"><\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">Childrenswear market in China<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-2322\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"2\" role=\"region\" aria-labelledby=\"elementor-tab-title-2322\"><p>After the introduction of the second-child policy, China\u2019s birth rate has increased significantly in 2016 and 2017.\u00a0 From 2016 to 2018, the population of 0-14 years old in China increased by 1.3%, 1.5%, and 0.7%, respectively, and exceeded <a href=\"https:\/\/www.chyxx.com\/industry\/202005\/863208.html\">235 million<\/a>. Young parents have become an important driving force for children\u2019s fashion market in China.<\/p><p>China\u2019s childrenswear hit <a href=\"https:\/\/www.chyxx.com\/industry\/201912\/821409.html\">209.1 billion yuan<\/a> in 2018, boasting a year-on-year increase of 16.2%. In the next five years, it is expected to maintain a compound growth rate of 13%, reaching 385.7 billion yuan by 2023.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-2323\" class=\"elementor-tab-title\" data-tab=\"3\" role=\"button\" aria-controls=\"elementor-tab-content-2323\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-left\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><i class=\"fas fa-caret-right\"><\/i><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><i class=\"elementor-toggle-icon-opened fas fa-caret-up\"><\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">Fashion e-commerce<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-2323\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"3\" role=\"region\" aria-labelledby=\"elementor-tab-title-2323\"><p>Between 2015 and 2018, benefiting from the rapid development of China\u2019s e-commerce industry, online fashion market showed an overall growth trend year by year.\u00a0In 2018, fashion e-commerce in China reached a market size of <a href=\"https:\/\/www.chyxx.com\/industry\/201912\/817177.html\">820.5 billion yuan<\/a>, recording a year-on-year increase of 22%.\u00a0However, the following year growth did not stop and the online fashion turnover surpassed 1 trillion yuan.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-2324\" class=\"elementor-tab-title\" data-tab=\"4\" role=\"button\" aria-controls=\"elementor-tab-content-2324\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-left\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><i class=\"fas fa-caret-right\"><\/i><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><i class=\"elementor-toggle-icon-opened fas fa-caret-up\"><\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">Men's fashion market in China<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-2324\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"4\" role=\"region\" aria-labelledby=\"elementor-tab-title-2324\"><p>Chinese men are more and more concerned about their looks, thus they spend more money than ever on clothing. Men\u2019s fashion accounts for 27.6% of China\u2019s apparel market.\u00a0Data show that in 2018, sales reached <a href=\"https:\/\/www.chyxx.com\/industry\/202005\/865316.html\">572.6 billion yuan<\/a>, boasting a year-on-year increase of 6.5%. Like the women&#8217;s clothing market, men&#8217;s clothing is on the verge of saturation.\u00a0In spite of that, China\u2019s menswear market has risen between 2017 and 2018, but it suffered a sharp decline in its year-on-year growth in 2019 due to the overall market instability, reaching about 580 billion yuan. <a href=\"https:\/\/daxueconsulting.com\/streetwear-in-china\/\">Streetwear<\/a>, gender-neutrality, <a href=\"https:\/\/daxueconsulting.com\/guochao-marketing-report\/\">Guochao<\/a> and retro style are some of the major trends influencing <a href=\"https:\/\/daxueconsulting.com\/mens-fashion-china\/\">men\u2019s fashion in China<\/a> today.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-2325\" class=\"elementor-tab-title\" data-tab=\"5\" role=\"button\" aria-controls=\"elementor-tab-content-2325\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-left\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><i class=\"fas fa-caret-right\"><\/i><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><i class=\"elementor-toggle-icon-opened fas fa-caret-up\"><\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">Luxury consumers in China<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-2325\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"5\" role=\"region\" aria-labelledby=\"elementor-tab-title-2325\"><p>The overall proportion of male and female consumers of luxury goods in China is relatively balanced. Female luxury consumers account for 56.2% of the total.\u00a0Moreover, people purchasing luxury goods mainly live in first-tier cities, such as Beijing and Shanghai, and new first- and second-tier cities, such as Chongqing, Tianjin, Chengdu, and Shenzhen.<\/p><p>Consumers of luxury goods in China mainly consist of people belonging to the age range 18-25 years old and they usually have a high level of education.\u00a0<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-2326\" class=\"elementor-tab-title\" data-tab=\"6\" role=\"button\" aria-controls=\"elementor-tab-content-2326\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-left\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><i class=\"fas fa-caret-right\"><\/i><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><i class=\"elementor-toggle-icon-opened fas fa-caret-up\"><\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">Top categories in China's luxury market<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-2326\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"6\" role=\"region\" aria-labelledby=\"elementor-tab-title-2326\"><p>Shoes and jewelry were the two fastest-growing categories of luxury goods in 2019, both achieving a growth rate of 9%, followed by leather products, which vaunted a 7% increase. Luxury cosmetics, instead, increased by 3%, while\u00a0the overall performance of luxury wearables was quite weak since they closed 2019 with a decline of 2%.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-2327\" class=\"elementor-tab-title\" data-tab=\"7\" role=\"button\" aria-controls=\"elementor-tab-content-2327\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-left\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><i class=\"fas fa-caret-right\"><\/i><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><i class=\"elementor-toggle-icon-opened fas fa-caret-up\"><\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">Jewelry market in China<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-2327\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"7\" role=\"region\" aria-labelledby=\"elementor-tab-title-2327\"><p>Jewelry is an emerging segment in China\u2019s fashion market. In recent years, with the continuous growth of the household disposable income, the jewelry market jumped \u00a0from 527 billion yuan in 2013 to 788.5 billion yuan in 2018.<\/p><p>In 2019, China&#8217;s gold jewelry market was worth <a href=\"https:\/\/www.sohu.com\/a\/426773375_120302019\">366.7 billion yuan<\/a> and in 2020 it reached 377.7 billion yuan.\u00a0<\/p><p>However, there is still a lot of room for further development in China\u2019s <a href=\"https:\/\/daxueconsulting.com\/how-millenials-and-low-tier-cities-are-shaping-chinas-jewelry-market\/\">jewelry market<\/a>: it is expected that sales will continue to grow rapidly in the next few years and forecasts show that by 2022, its market size will exceed 800 billion yuan.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-2328\" class=\"elementor-tab-title\" data-tab=\"8\" role=\"button\" aria-controls=\"elementor-tab-content-2328\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-left\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><i class=\"fas fa-caret-right\"><\/i><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><i class=\"elementor-toggle-icon-opened fas fa-caret-up\"><\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">COVID-19 impact on the fashion and luxury markets in China<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-2328\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"8\" role=\"region\" aria-labelledby=\"elementor-tab-title-2328\"><p>According to the forecast of the China Commercial Industry Research Institute, the COVID-19 had a major impact on the fashion industry in China, leading to a year-on-year decrease of 13.8% in garment production.<\/p><p>Furthermore, the outbreak of the COVID-19 affected China&#8217;s jewelry and luxury market.\u00a0In the first half of 2020, LVMH revenues amounted to 18.4 billion euros, recording a year-on-year decrease of 28%. Kering Group\u2019s turnover suffered a 29.6% year-on-year drop as well, totaling <a href=\"https:\/\/www.sohu.com\/a\/439099921_99900352\">5.3 billion euros<\/a>.\u00a0However, with the prevention and control of the epidemic, gold consumption continued to rise in the second quarter, and gold jewelry consumption ushered in the process of recovery.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6f6344b elementor-align-center elementor-widget elementor-widget-button\" data-id=\"6f6344b\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-lg\" href=\"https:\/\/daxueconsulting.com\/contact-us-now\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Start your fashion & luxury market research now<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7b49139 elementor-widget elementor-widget-heading\" data-id=\"7b49139\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Fashion &amp; luxury market insights<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-81f70e4 elementor-grid-3 elementor-grid-tablet-2 elementor-grid-mobile-1 elementor-posts--thumbnail-top elementor-widget elementor-widget-posts\" data-id=\"81f70e4\" data-element_type=\"widget\" data-settings=\"{&quot;classic_columns&quot;:&quot;3&quot;,&quot;classic_columns_tablet&quot;:&quot;2&quot;,&quot;classic_columns_mobile&quot;:&quot;1&quot;,&quot;classic_row_gap&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:35,&quot;sizes&quot;:[]},&quot;classic_row_gap_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;classic_row_gap_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]}}\" data-widget_type=\"posts.classic\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-posts-container elementor-posts elementor-posts--skin-classic elementor-grid\">\n\t\t\t\t<article class=\"elementor-post elementor-grid-item post-61806 post type-post status-publish format-standard has-post-thumbnail hentry category-chinese-consumers category-luxury-china tag-china-luxury-market tag-luxury-consumers-china tag-quiet-luxury-in-china\">\n\t\t\t\t<a class=\"elementor-post__thumbnail__link\" href=\"https:\/\/daxueconsulting.com\/quiet-luxury-in-china\/\" tabindex=\"-1\" >\n\t\t\t<div class=\"elementor-post__thumbnail\"><img decoding=\"async\" width=\"800\" height=\"534\" data-src=\"https:\/\/daxueconsulting.com\/wp-content\/uploads\/2024\/04\/daxue-consulting-quiet-luxury-in-china-cover-800x534.jpg\" class=\"attachment-large size-large wp-image-63491 lazyload\" alt=\"\" data-srcset=\"https:\/\/daxueconsulting.com\/wp-content\/uploads\/2024\/04\/daxue-consulting-quiet-luxury-in-china-cover-800x534.jpg 800w, https:\/\/daxueconsulting.com\/wp-content\/uploads\/2024\/04\/daxue-consulting-quiet-luxury-in-china-cover-300x200.jpg 300w, https:\/\/daxueconsulting.com\/wp-content\/uploads\/2024\/04\/daxue-consulting-quiet-luxury-in-china-cover-768x512.jpg 768w, https:\/\/daxueconsulting.com\/wp-content\/uploads\/2024\/04\/daxue-consulting-quiet-luxury-in-china-cover.jpg 1429w\" data-sizes=\"(max-width: 800px) 100vw, 800px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 800px; --smush-placeholder-aspect-ratio: 800\/534;\" \/><\/div>\n\t\t<\/a>\n\t\t\t\t<div class=\"elementor-post__text\">\n\t\t\t\t<h3 class=\"elementor-post__title\">\n\t\t\t<a href=\"https:\/\/daxueconsulting.com\/quiet-luxury-in-china\/\" >\n\t\t\t\tQuiet luxury in China: a tale of classical aesthetics and enduring quality\t\t\t<\/a>\n\t\t<\/h3>\n\t\t\t\t<\/div>\n\t\t\t\t<\/article>\n\t\t\t\t<article class=\"elementor-post elementor-grid-item post-61798 post type-post status-publish format-standard has-post-thumbnail hentry category-market-research-china tag-china-luxury-market daxue_industry-fashion-luxury\">\n\t\t\t\t<a class=\"elementor-post__thumbnail__link\" href=\"https:\/\/daxueconsulting.com\/chinas-new-luxury-hot-spots\/\" tabindex=\"-1\" >\n\t\t\t<div class=\"elementor-post__thumbnail\"><img decoding=\"async\" width=\"800\" height=\"391\" data-src=\"https:\/\/daxueconsulting.com\/wp-content\/uploads\/2024\/04\/Depositphotos_238942940_L-1-e1713942505804-800x391.jpg\" class=\"attachment-large size-large wp-image-61804 lazyload\" alt=\"china luxury hotspot\" data-srcset=\"https:\/\/daxueconsulting.com\/wp-content\/uploads\/2024\/04\/Depositphotos_238942940_L-1-e1713942505804-800x391.jpg 800w, https:\/\/daxueconsulting.com\/wp-content\/uploads\/2024\/04\/Depositphotos_238942940_L-1-e1713942505804-300x146.jpg 300w, https:\/\/daxueconsulting.com\/wp-content\/uploads\/2024\/04\/Depositphotos_238942940_L-1-e1713942505804-768x375.jpg 768w, https:\/\/daxueconsulting.com\/wp-content\/uploads\/2024\/04\/Depositphotos_238942940_L-1-e1713942505804-1536x750.jpg 1536w, https:\/\/daxueconsulting.com\/wp-content\/uploads\/2024\/04\/Depositphotos_238942940_L-1-e1713942505804.jpg 1999w\" data-sizes=\"(max-width: 800px) 100vw, 800px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 800px; --smush-placeholder-aspect-ratio: 800\/391;\" \/><\/div>\n\t\t<\/a>\n\t\t\t\t<div class=\"elementor-post__text\">\n\t\t\t\t<h3 class=\"elementor-post__title\">\n\t\t\t<a href=\"https:\/\/daxueconsulting.com\/chinas-new-luxury-hot-spots\/\" >\n\t\t\t\tDiscovering China\u2019s new luxury hot spots: Emerging luxury hubs beyond Shanghai and Beijing\t\t\t<\/a>\n\t\t<\/h3>\n\t\t\t\t<\/div>\n\t\t\t\t<\/article>\n\t\t\t\t<article class=\"elementor-post elementor-grid-item post-54528 post type-post status-publish format-standard has-post-thumbnail hentry category-designers-in-china category-fashion-in-china category-luxury-china tag-china-luxury-market tag-fashion-brands-in-china tag-fashion-market-china tag-guochao tag-luxury-brands-in-china daxue_industry-fashion-luxury\">\n\t\t\t\t<a class=\"elementor-post__thumbnail__link\" href=\"https:\/\/daxueconsulting.com\/chinese-designer-brands\/\" tabindex=\"-1\" >\n\t\t\t<div class=\"elementor-post__thumbnail\"><img decoding=\"async\" width=\"800\" height=\"450\" data-src=\"https:\/\/daxueconsulting.com\/wp-content\/uploads\/2022\/04\/daxue-consulting-chinas-designer-brand-cover-Instagram-800x450.jpg\" class=\"attachment-large size-large wp-image-61382 lazyload\" alt=\"\" data-srcset=\"https:\/\/daxueconsulting.com\/wp-content\/uploads\/2022\/04\/daxue-consulting-chinas-designer-brand-cover-Instagram-800x450.jpg 800w, https:\/\/daxueconsulting.com\/wp-content\/uploads\/2022\/04\/daxue-consulting-chinas-designer-brand-cover-Instagram-300x169.jpg 300w, https:\/\/daxueconsulting.com\/wp-content\/uploads\/2022\/04\/daxue-consulting-chinas-designer-brand-cover-Instagram-768x432.jpg 768w, https:\/\/daxueconsulting.com\/wp-content\/uploads\/2022\/04\/daxue-consulting-chinas-designer-brand-cover-Instagram-1536x864.jpg 1536w, https:\/\/daxueconsulting.com\/wp-content\/uploads\/2022\/04\/daxue-consulting-chinas-designer-brand-cover-Instagram-2048x1152.jpg 2048w\" data-sizes=\"(max-width: 800px) 100vw, 800px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 800px; --smush-placeholder-aspect-ratio: 800\/450;\" \/><\/div>\n\t\t<\/a>\n\t\t\t\t<div class=\"elementor-post__text\">\n\t\t\t\t<h3 class=\"elementor-post__title\">\n\t\t\t<a href=\"https:\/\/daxueconsulting.com\/chinese-designer-brands\/\" >\n\t\t\t\tFrom east to the runway: the irresistible ascent of Chinese designer brands\t\t\t<\/a>\n\t\t<\/h3>\n\t\t\t\t<\/div>\n\t\t\t\t<\/article>\n\t\t\t\t<\/div>\n\t\t\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>China\u2019s luxury market is expected to surpass that of the Americas and Europe and impose itself as the world\u2019s largest luxury goods market by 2025.\u00a0However,<\/p>\n","protected":false},"author":41,"featured_media":46626,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"content-type":"","inline_featured_image":false,"episode_type":"","audio_file":"","cover_image":"","cover_image_id":"","duration":"","filesize":"","date_recorded":"","explicit":"","block":"","filesize_raw":"","footnotes":""},"daxue_industry":[],"class_list":["post-52601","page","type-page","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Fashion &amp; Luxury<\/title>\n<meta name=\"description\" content=\"Nowadays key fashion trends in China include a strong interest in streetwear, sustainability and comfortable clothing.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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