Mass-Market Brands Could be a Gateway to Luxury Opportunity in Emerging Markets
With more than one million millionaires, China is a core driver of growth in the global luxury goods market. Click to tweet! Yet, Western manufacturers often fall short of their full growth potential in China because they struggle to understand the complexities of its consumption culture, and are thwarted by complicated routes to market. Paradoxically, by developing new positions in locally made mass-market brands, luxury goods manufacturers could unlock a solution to both problems.
When luxury goods meet fast fashion
Eyebrows were raised in luxury goods circles when it was reported last month that L Capital Asia, a private equity fund backed by LVMH Moët Hennessy Louis Vuitton, the world's biggest luxury goods company, had snapped up a 10% stake in a Chinese fast fashion manufacturer called Trendy International Group, paying an estimated US$200 million.
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