Luxury brand in China

Release time:2013-02-28      Source:admin      Reads:

With the economy boom in China, many famous and luxury brands see it as most important and surging market. A lot of multinational enterprises locate their regional headquarters and R&D centers in China. Of course, the strikingly consuming capacity of Chinese people doesn’t disappoint them; more and more corporations are drooling over this fat meat and want to be involved in. Those luxury items with hangtags showing their brands are no longer reachless to ordinary people, especially among young people. To keep their China expansion alive, many of the global players are expected to move into China's second- and third-tier cities in the coming years to tap demand there.

What luxury brands are popular in China, you can recognize at one site by their labels or hangtags: Louis Vuitton, Hermes, Dior, Chanel, Gucci, D&G, BURBERRY, BVLGARI, Armani, etc. As more and more young Chinese people can afford global luxury goods, today's luxury goods are becoming tomorrow's necessities. An increasing number of Chinese people, including white-collar workers and other middle-class groups, are buying luxury goods to reward them.

Does brand mean happiness and prestigious, it is a questions worth deeply thinking about. Why the luxury brands can be sold out in such high price just because of the labels and hangtags? Some white-collar's desire to show off one's taste for elegance locks middle-class Chinese into a competitive struggle to sport the latest and best Italian clothes, designer handbags, and the like. And when it comes to function, most of the time one can get by just well with good generic brands versus expensive luxury goods. But the scramble for luxury products doesn't seem to have made Chinese any happier. Indeed, in the most recent University of Michigan World Values Survey, China ranked 46th in the world with respect to the happiness of its citizens.

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