Paths For The Emergence Of Global Chinese Luxury Brands

Jonas Hoffmann and Betina Hoffmann

Chapter 2 in Global Luxury Trends, 2013, pp 23-36 from Palgrave Macmillan

Abstract: Abstract China’s luxury goods market will be worth an estimated US$ 27 billion by 2015, representing 20 percent of global luxury sales.1 As observed in other sectors in China, the speed at which the market took off is impressive. Louis Vuitton entered the market 20 years ago, has currently more than 40 stores in China and is opening more at a fast pace.2 No surprise that (Western) luxury groups are in great shape, reporting double-digit growth and profits. This market big bang has been a bonanza for Western luxury conglomerates and companies and their commercial partners in Hong Kong and mainland China. Strong growth and high profit margins have of course attracted newcomers, but no local brand exists so far to challenge the likes of Louis Vuitton, Hermès, Gucci or Prada in China, and even less abroad. Given China’s economicgrowth, rich craftsmanship tradition and growing availability of financial and managerial competences, there are grounds for such a development.

Keywords: Business Model; Moon Phase; Luxury Brand; Luxury Product; Luxury Market (search for similar items in EconPapers)
Date: 2013
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-28739-7_3

Ordering information: This item can be ordered from
http://www.palgrave.com/9781137287397

DOI: 10.1057/9781137287397_3

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().