Trend Report Luxury Fashion Handbags China

China

by Lea Tumczyk

opportunities DEVELOPMENT price

HANDBAGS

consumer products

design success

innovation PROSPECT brand range

LUXURY FASHION

changes market

IN THIS REPORT

I. Defining Luxury II. Historic Timeline III. Prospect IV. Market V. Consumer VI. Design VII. Opportunities VIII. Key Findings

3 4 5 6 14 20 23 24

Defining Luxury

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The Historic Timeline

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The Prospect

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TERM: LUXURY Luxury, can be defined in many different ways.

In terms of this trend report, however, luxury consists of at least seven key factors: global recognition, critical mass, core competence, high product quality and innovation, powerful advertising, immaculate store presentation, and superb customer service. Â

The Market

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The Consumer

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The Design

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The Opportunities

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Key Findings

Defining Luxury

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The Historic Timeline

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The Prospect

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The Market

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The Consumer

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The Design

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The Opportunities

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Key Findings

HISTORY OF THE HANDBAG Term ‘Handbag’ came up in early 1900’s

First mention in written literature à Bags were attached to ‘girdles’ à Embroidery and jewels decorated bag and showed status

B.C.

More varied à Men and women wear small bags à Complex shapes

Egyptian hieroglyphs show pouches carried around waist

18th Century

16th Century 14th Century

50’s: rise of important designer houses like Chanel, Louis Vuitton and Hermès

17th Century Handbags are more practical with use of everyday material and a drawstring fastener on top

21st Century 20th Century

Women started carrying their bags, called reticules Women have different bags for different occasion

A whole variety of all kinds of different Bags

Defining Luxury

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The Historic Timeline

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The Prospect

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The Market

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The Consumer

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The Design

WHERE WILL IT GO

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The Opportunities

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Key Findings

Defining Luxury

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The Historic Timeline

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The Prospect

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The Market

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The Consumer

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The Design

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The Opportunities

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Key Findings

GROWTH OF LUXURY HANDBAGS 100% 80% 60% 40% 20% 0%

2010

2011

2012

2013

2014

2015 FUTURE

Defining Luxury

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The Historic Timeline

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The Prospect

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The Market

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The Consumer

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The Design

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The Opportunities

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Key Findings

FACTORS OF SLOWDOWN Economical Factors

Political Factors

“The Chinese currency has been known for its predictability over the past two decades and now that has gone.”

“The Chinese before used to buy the most expensive jewellery, but after the government’s anticorruption policy, they have shifted to mid-range products. [… ] We have seen a number of jewellers changing business models, where they will now offer more mid-range products in order to cope with changing consumer habits.”

Tao Dong, chief regional economist for Asia excluding Japan at Credit Suisse Group AG in Hong Kong

• • • • •

Economic slow-down China’s currency devaluation Lack of Stability Collapse of Chinese stock market Higher prices for luxury products than in Western countries

Joe Lin, executive director of Hong Kong retail services at Commercial Real Estate Services

• China’s anti-corruption campaign • Strict controls on advertising because of the country’s widening income gap

Social Factors Lower prices and a guarantee of authenticity are the two leading factors pulling luxury buyers abroad.

• Evolving customer dynamics • Buying luxury products overseas

Defining Luxury

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The Historic Timeline

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The Prospect

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The Market

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The Consumer

MIDDLE CLASS GROWTH 2012: 300 million people had “significant discretionary spending power,” according to the consulting firm Dragonomics ca. £141,700 per capita, according to Forbes China Unique characteristics of the country’s middle class

1.

Strong preference for novelty constantly seek out the newest products available

2.

Early adapters of new technology and embrace social and digital media

3.

Enjoy status conferred by luxury brands BUT usually lack emotional ties leading to brand loyalty

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The Design

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The Opportunities

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Key Findings

Defining Luxury

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The Historic Timeline

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The Prospect

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The Market

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The Consumer

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The Design

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The Opportunities

BRAND RANGE 1992

PRESENT Chinese consumers’ income is growing

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Companies are expanding to new market in order to earn more profit First luxury goods company, which opened a store in China

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Key Findings

Defining Luxury

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The Historic Timeline

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The Prospect

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The Market

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The Consumer

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The Design

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The Opportunities

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Key Findings

OPENED STORES

122

120 105 Number of stores opened in 2014

90 75 60 45 30 15 0

63

Number of stores opened in 2013 54

49

37

Number of stores opened in 2012 Number of stores opened in and before 2011

Defining Luxury

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The Historic Timeline

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The Prospect

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The Market

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The Consumer

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The Design

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The Opportunities

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Key Findings

RISING LUXURY DEMAND Tier 1 Tier 2

100

Tier 3 & 4

3 15

80 60

8 31

43

Tier 4 Tier 3

40 20

45 40 16

0

2002

2022

Tier 2 Tier 1

Defining Luxury

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The Historic Timeline

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The Prospect

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The Market

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The Consumer

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The Design

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The Opportunities

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Key Findings

FUTURE FOCUS

STORES: 1992 PRESENT FUTURE

FUTURE: Focus on Tier 2 and 3

Defining Luxury

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The Historic Timeline

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The Prospect

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The Market

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The Consumer

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The Design

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The Opportunities

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Key Findings

LOWER TIER CITIES Tier 1 cities: disposable income value of RMB 1 trillion Tier 2-4 cities: combined disposable income value of RMB 8 trillion Reasons for rise of lower tier cities: • Ongoing urbanization • Increasing income level • Rapid development of new transportation network 200 million households, rising incomes and growing opportunities lower tier cities offer companies a huge, compelling and relatively untapped growth avenue Smaller cities are expected to be the major drivers of economic growth over the next two decades Rising consumption in the smaller cities will also create huge demand for luxury goods

Defining Luxury

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The Historic Timeline

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The Prospect

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The Market

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CHINESE LUXURY CONSUMER P A S T : Logos, gold jewellery and symbols of wealth defined Chinese luxury consumers P R E S E N T : Shifting consumer market less consumption in large cities and a decrease of sales from international luxury brands “CHINA IS THE MARKET TO WIN FOR LUXURY BRANDS. BRANDS NEED TO UNDERSTAND THAT CHINA’S ULTRA-WEALTHY ARE BECOMING MORE SOPHISTICATED AND NOT JUST LOOKING FOR FLASHY LOGOS AND BRANDS THAT EVERYONE HAS. THREE YEARS AGO, EVERYONE WANTED LOUIS VUITTON. THAT IS NO LONGER THE CASE.“ Shaun Rein, founding and managing director of the China Market Research Group

The Consumer

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The Design

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The Opportunities

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Key Findings

Defining Luxury

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The Historic Timeline

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The Prospect

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The Market

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The Consumer

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The Design

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The Opportunities

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Key Findings

FUTURE LUXURY CONSUMER F U T U R E : Four types of Chinese luxury consumers

“Aristocrats”-Consumer

Style Nationalists

Playpen Shoppers

Searchers

Defining Luxury

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The Historic Timeline

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The Prospect

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The Market

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The Consumer

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The Design

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The Opportunities

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Key Findings

“ARISTOCRATS” - CONSUMER Men (25-35 years)

Wealthy background

Only luxury

Influencing people

Style leader

BUYING BEHAVIOUR: • Very critical in terms of quality • Do not give second glances • Money does not play a role • Have to meet their lifestyle • Decide fast and independently • Also travel for shopping ENGAGING ARISTOCRATS: • Want exclusive service • Want an uncrowded environment

Defining Luxury

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The Historic Timeline

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The Prospect

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The Market

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The Consumer

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The Design

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The Opportunities

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Key Findings

STYLE NATIONALISTS Women (< 35 years)

Born and acquired wealthy

Chinese designers’ supporters

Art interested

BUYING BEHAVIOUR: • Have to believe in design • Want to understand design process • Buy a high amount • Has to be practical Yiqing Yin

Exception

Johanna Ho

Vega Zaushi Wang

ENGAGING STYLE NATIONALISTS: • First-class customer service • Authenticity is key • Buy more if friends with designer

Defining Luxury

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The Historic Timeline

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The Prospect

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The Market

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The Consumer

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The Design

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The Opportunities

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Key Findings

PLAYPEN SHOPPERS “Little Emperors”

Only child

20-30 years

BUYING BEHAVIOUR: • Flexible style • Flexible budget • Inspiration and information via social media • Do not want help from customer-service staff

ENGAGING PLAYPEN SHOPPER: • Unique shopping experience • Exclusivity and personalised products are important • Active social media presence • Discounts or gifts are key

Wealthy origins

Entertainment Seeker

Defining Luxury

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The Historic Timeline

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The Prospect

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The Market

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The Consumer

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The Design

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The Opportunities

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Key Findings

SEARCHERS Digital natives

> 30 years

Knowledge Seeker

Detail-oriented

Special treatment desire

BUYING BEHAVIOUR: • Shop whenever they can - online • Look for products they can not buy in their region • Know what they want to buy • Compare prices and offers • Buying decision after a lot of research • Trust reviews

ENGAGING SEARCHERS: • Activities across different social media platforms • Outfit styling ideas online and in-store • Discounts and gifts are very effective

Defining Luxury

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The Historic Timeline

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The Prospect

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The Market

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The Consumer

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The Design

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The Opportunities

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Key Findings

SMALL ALTERNATIVES Prices for luxury handbags: in China luxury handbags are on average 51% more expensive than in Europe Even wealthy buyers are pushing back Designers react by offering a wider range of handbags, which are lower priced as they are smaller and often made of less expensive material

Companies want to listen to consumer and to offer more bags with a lower price

Defining Luxury

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The Historic Timeline

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The Prospect

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The Market

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The Consumer

LOGO FATIGUE PAST: Handbags were all over embellished with the brands logo

PRESENT + FUTURE: Change in design of luxury handbags Chinese luxury consumers got logo fatigue Designs get more creative, discrete and elegant with only a small logo

Design will go back from â&#x20AC;&#x153;all-over logosâ&#x20AC;?

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The Design

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The Opportunities

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Key Findings

Defining Luxury

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The Historic Timeline

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The Prospect

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The Market

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The Consumer

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The Design

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The Opportunities

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Key Findings

UNIQUENESS FUTURE: To remain popular, designers think of changes to boost the sales of their products

1.

Creating unique handbags that will only be sold in China

2.

Adapting more to the different regions in China and show it in their designs

3.

Customising or personalising handbags

Hogan â&#x20AC;&#x201C; Year of the Snake Special Edition Bag

Defining Luxury

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The Historic Timeline

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The Prospect

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The Market

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The Consumer

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The Design

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The Opportunities

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Key Findings

THE 6 OPPORTUNITIES 01

Cross-Border E-Commerce Benefiting from the establishment of pilot zones for cross-border e-commerce and Free Trade Zones more consumers will buy luxury products via e-commerce platforms

04

02

Keeping Authenticity For being successful in China, it is important for the luxury brand to keep its authenticity and to keep its heritage at the forefront

05

03

Focusing on Small Cities As the demand for luxury handbags is rising in lower tier cities, luxury brands should focus on those small cities

06

Adjusting Prices

Building up Online Presence

Giving best Customer Service

By cutting prices, luxury brands could drive part of the overseas spending back to the country

Setting up online platforms provides Chinese consumers to get product information and to buy luxury products online

Chinese luxury consumer now demand services that are consistent, professional, friendly and unpretentious

Defining Luxury

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The Historic Timeline

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The Prospect

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The Market

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The Consumer

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The Design

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The Opportunities

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Key Findings

THE 5 KEY FINDINGS 01

02

03

Luxury Handbag Sales slows down

Middle Class Growth

Focusing on Lower Tier Cities

Due to economical, political and social factors the growth of luxury handbags decreases

Young people constitute a new and powerful consumer force

Due to higher incomes and rising demand of luxury handbags, lower tier cities will be on the rise

04

05

Luxury Consumers become more sophisticated

Improved Shopping Environment is Key

Luxury consumers increasingly look for unique handbags

Luxury consumers want exclusivity

Defining Luxury

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The Historic Timeline

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The Prospect

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The Market

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The Consumer

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The Design

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The Opportunities

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Key Findings

BIBLIOGRAPHY PAGE 1: Condé Nast International Luxury Conference (2015). | Condé Nast International Luxury Conference 2016 Logo. [IMAGE] | Available at: http://www.cniluxury.com/ Forum Xcitefun (2014). | Fendi Accessoires S/S Collection 2014 for Women. [IMAGE] | Available at: http://forum.xcitefun.net/fendi-accessories-s-s-collection-2014-for-woment92625.html PAGE 2: Showehandbag.com (2015). | Fendi Spring/Summer 2015 Ad Campaign by featuring Micro Monster Baguette. [IMAGE] | Available at: http://www.showehandbag.com/post-2041.html PAGE 3: Ancient Symbols (N.D.). | Alchemy Symbols. [IMAGE] | Available at: http://www.ancient-symbols.com/alchemy_symbols.html Cox, C. (2013). | Luxury Fashion: A Global History of Heritage Brands. [BOOK] | London. UK. Fashionmag (2013). | Chanel destrona Vuitton no coracão dos Chineses. [IMAGE] | Available at: http://pt.fashionmag.com/news/Chanel-destrona-Vuitton-no-coracao-dos-Chineses %2C339815.html#.ViJGsBN_Oko Louis Vuitton (2015). | Capucines Handbag, The Seasonal Colours. [IMAGE] | Available at: http://uk.louisvuitton.com/eng-gb/articles/capucines-handbags-the-seasonal-colours PAGE 4: ClipArtBest.com (2015). | Book Symbols. [IMAGE] | Available at: http://www.clipartbest.com/book-symbolspng Flickr (2009). | The British Museum. [IMAGE] | Available at: https://www.flickr.com/photos/malcnhg/4038612576/ Henrietta’s Handbags (2015). | A History of Handbags from the 14th Century to Present Day Handbag Designers. [ONLINE] | Available at: http://henriettashandbags.com/ a_history_of_handbags.html The Metropolitan Museum Of Art (2015). | Heilbrunn Timeline of Art History. [IMAGE & ONLINE] | Available at: http://www.metmuseum.org/toah/ Spotted Fashion (2014). | Louis Vuitton Fall/Winter 2014 Bag Collection with Petite-Malle Trunk Bag. [IMAGE] | Available at: http://www.spottedfashion.com/2014/05/13/louis-vuittonfall-winter-2014-bag-collection-with-petite-malle-trunk-bag/#prettyPhoto Throw It In The Bag (2013). | Behind the Bag. [IMAGE & ONLINE] | Available at: https://throwinthebag.wordpress.com/behind-the-bag/ PAGE 5: InSharePics (2015). | Valentino Logo. [IMAGE] | Available at: http://insharepics.info/imvg-valentino-logo-png.htm Kildare Village (2015). | Mulberry Logo. [IMAGE] | Availablet at: http://www.kildarevillage.com/en/brands/item/mulberry

Defining Luxury

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The Historic Timeline

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The Prospect

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The Market

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The Consumer

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The Design

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The Opportunities

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Key Findings

BIBLIOGRAPHY PAGE 5: La Roca Village (2015). | Coach Logo. [IMAGE] | Available at: http://www.larocavillage.com/en/brands/shoes-accessories My Image Collection (2015). | Luxury Fashion Brand Logos. [IMAGE] | Available at: http://exeoinc.com/luxury-brand-logo/luxury-brand-logos-on-uncategorized-decor/ Stock Logos (2012). | Yves Saint Laurent Logo. [IMAGE] | Available at: https://stocklogos.com/topic/yves-saint-laurent-drops-rebranding-ball Viva La Liga (N.D.). | Questionmark. [IMAGE] | Available at: http://www.viva-la-liga.de/allgemein/facebookapplekaffee/attachment/fragezeichen/ Wikipedia. (2015). | MCM Logo. [IMAGE] | Available at: https://en.wikipedia.org/wiki/File:MCM-logo.png Worldatlas (2015). | China Map. [IMAGE] | Available at: http//www.worldatlas.com/ PAGE 6-12: About Religion (N.D.). | Triangles. [IMAGE] | Available at: http://altreligion.about.com/od/symbols/ig/Geometric-Shapes/Triangles.htm Bain & Company (2015). | China’s luxury market shrinks in 2014. [ONLINE] | Available at: http://www.bain.com/about/press/press-releases/chinas-luxury-market-shrinks-in-2014-pressrelease.aspx Bain & Company (2015). | Global luxury goods market expected to sustain steady momentum with 2-4 percent real growth in 2015. [ONLINE] | Available at: http://www.bain.com/about/ press/press-releases/spring-2015-worldwide-luxury-goods-update-press-release.aspx Betty Zhao (2014). | Chinese Fashion Blogger. [IMAGE] | Available at: https://bettyzhao.wordpress.com/2014/02/27/chinese-fashion-blogger/ Bloomberg (2015). | World economy risks losing yuan as China turns to markets. [ONLINE] | Available at: http://www.bloomberg.com/news/articles/2015-08-12/world-economy-riskslosing-yuan-anchor-as-china-turns-to-markets Business of Fashion (2013). | China’s Anti-Corruption Campaign is Masking the Real Causes of theLuxury Slowdown. [ONLINE] | Available at: http://www.businessoffashion.com/articles/ global-currents/chinas-anti-corruption-campaign-is-masking-the-real-causes-of-the-luxury-slowdown China Business Review (2014). | Marketing to China’s Middle Class. [ONLINE] | Available at: http://www.chinabusinessreview.com/marketing-to-chinas-middle-class/ China Daily (2015). | Over 60% of Chinese purchase luxury items abroad. [ONLINE] | Available at: http://www.chinadaily.com.cn/china/2015-06/12/content_20985900.htm China Internet Watch (2012). | China Areas Map. [ONLINE] | http://www.tmogroup.asia/wp-content/uploads/2013/07/Regional-Density-Map-of-Luxury-Stores-in-China.jpg Daily Blog Tips (2009). | Increase Symvol. [IMAGE] | Available at: http://www.dailyblogtips.com/increase-blog-traffic/ Deviant Art (N.D.). | Growth Symbol. [IMAGE] | Available at: http://zeezedzee.deviantart.com/art/Wall-e-Directive-T-Shirt-175809970 Fashion Telegraph (2012). | Louis Vuitton: The new orient express. [ONLINE] | Available at: http://fashion.telegraph.co.uk/columns/lisa-armstrong/TMG9424022/Louis-Vuitton-The-neworient-express.html

Defining Luxury

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The Historic Timeline

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The Prospect

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The Market

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The Consumer

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The Design

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The Opportunities

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Key Findings

BIBLIOGRAPHY PAGE 6-12: Fortune (2015). | Chinese yuan devaluation will really, really hurt luxury brands. [ONLINE] | Available at: http://fortune.com/2015/08/11/china-devaluation-luxury-sales/ Iber China (2015). | Luxury Market in China. [ONLINE] | Available at: http://www.iberchina.org/files/Luxury_market_China2015.pdf Launch (2012). | Decrease Symbol. [IMAGE] | Available at: http://launch3.squarespace.com/blog/facebooks-user-growth-continues-to-decrease-while-google-add.html Luxury Society (2014). | What is really happening in China’s Luxury Market?. [ONLINE] | Available at: http://luxurysociety.com/articles/2014/10/what-is-really-happening-in-chinasluxury-market Pixabay (N.D.). | Magnifying Glass Symbol. [IMAGE] | Available at: https://pixabay.com/de/lupe-lupen-glas-vergr%C3%B6%C3%9Fern-160478/ Poisepolish (2012). | Mulberry Fall 2012 Ad Campaign. [IMAGE] | Available at: http://www.poisepolish.com/2012/07/mulberry-fall-2012-ad-campaign.html The Telegraph (2015). | China’s economic growth falls to six-year low as rebalancing takes hold. [ONLINE] | Available at: http://www.telegraph.co.uk/finance/economics/11939807/ Chinese-economic-growth-falls-to-six-year-low-as-rebalancing-takes-hold.html TMO Group Asia (2013). | Regional Density Map of Luxury Stores in China. [ONLINE] | Available at: http://img.chinainternetwatch.com/China-internet-3-tiers.jpg UX Repo (N.D.). | Android Store Vector Icon. [IMAGE] | Available at: http://uxrepo.com/icon/android-store-by-google-material The Wall Street Journal (2014). | Hermès to Expand in China as Other Luxury Brands Pull Back. [ONLINE] | Available at: http://www.wsj.com/articles/hermes-to-open-up-to-5-new-chinastores-by-end-2015-1410517415 PAGE 13: China Economic Review (2014). | Q&A: Lowertier commercial markets. [IMAGE & ONLINE] | Available at: http://www.chinaeconomicreview.com/qa-lower-tier-commercial-markets Fung Business Intelligence Centre (2013). | Luxury market in China. [REPORT] | Available at: http://www.funggroup.com/eng/knowledge/research/china_dis_issue109.pdf CKGSB Knowledge (2013). | China’s Luxury Market Grows in Lower Tier Cities. [ONLINE] | Available at: http://knowledge.ckgsb.edu.cn/2013/07/10/china/chinas-luxury-market-grows-inlower-tier-cities/ Worldatlas (2015). | China Map. [IMAGE] | Available at: http//www.worldatlas.com/ PAGE 14-19: AliExpress (2015). | Exeption Handbag. [IMAGE] | Available at: http://www.aliexpress.com/item/Free-Shipping-2015-exceptional-style-the-new-elegance-of-fashion-women-bagshandbags-professional-bag-1432934215/32364339834.html China Internet Watch (2011). | Taobao Imagine: An Image Search Engine For Shoppers. [IMAGE] | Available at: http://www.chinainternetwatch.com/1189/taobao-imagine-an-imagesearch-engine-for-shoppers/

Defining Luxury

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The Historic Timeline

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The Prospect

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The Market

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The Consumer

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The Design

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The Opportunities

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Key Findings

BIBLIOGRAPHY PAGE 14-19: Clker.com (2010). | Shopping Cart Clip Art. [IMAGE] | Available at: http://www.clker.com/clipart-shopping-cart.html Cool Hunting (2015). | Phlo: Architectural Wooden Clutches. [IMAGE] | Available at: http://www.coolhunting.com/style/vega-zaishi-wang-melz-design-wooden-clutches Depositphotos (2015). | Searcher. [IMAGE] | Available at: http://de.depositphotos.com/57780915/stock-photo-young-woman-shopping-online-with.html DJ Storm’s Blog (2011). | Louis Vuitton: Voyages. [IMAGE] | Available at: http://djstormsblog.com/tag/louis-vuitton/page/3/ Fashion Editor At Large (2013). | Introducing… China’s New First Lady Peng Liyuan. [IMAGE] | Available at: http://www.fashioneditoratlarge.com/2013/03/introducing-chinas-new-firstlady-peng-liyuan/ Iber China (2015). | Luxury Market in China. [ONLINE] | Available at: http://www.iberchina.org/files/Luxury_market_China2015.pdf Jing Daily (2015). | China Takes Aim At Lost Luxury Sales With Duty-Free Development. [IMAGE] | Available at: http://jingdaily.com/china-takes-aim-at-lost-luxury-sales-with-duty-freedevelopment/ The Makup Museum (2014). | Yiqing Yin Bag. [IMAGE] | Available at: http://www.makeupmuseum.org/home/2014/08/index.html Maplestage (2012). | “Aristocrats”-Consumer. [IMAGE] | Available at: http://maplestage.com/news/4604/ Marketing China (2015). | The luxury habits of Chinese People. [IMAGE] | Available at: http://marketingtochina.com/luxury-habits-chinese-people/ Northnews (2013). | Chinese Luxury Consumer. [IMAGE] | Available at: http://life.northnews.cn/2013/1115/1449844.shtml Pinterest (2015). | Johanna Ho Bag. [IMAGE] | Available at: https://www.pinterest.com/keijser/bags/ WGSN (2013). | China’s Luxury Consumer: The next phase. [ONLINE] | Available at: http://www.wgsn.com.ucreative.idm.oclc.org/content/board_viewer/#/129612/page/1 PAGE 20: Fendi (2015). | Fendi Handbags. [IMAGE] | Available at: http://www.fendi.com/de/woman/bags/highlights.html Geek Champ (N.D.). | Symbol Icon: Handbag. [IMAGE] | Available at: http://www.geekchamp.com/icon-explorer/clothes-and-shoes-icons/icon?code=1f45c Iber China (2015). | Luxury Market in China. [ONLINE] | Available at: http://www.iberchina.org/files/Luxury_market_China2015.pdf Prada (2015). | Prada Handbags. [IMAGE] | Available at: http://www.prada.com/en/DE/e-store/department/woman/handbags.html Polyvore (2015). | Hermès Mini Kelly Bag. [IMAGE] | Available at: http://www.polyvore.com/hermes_kelly_rare_micro_mini/thing?id=94359419 Rebelle (2015). | Hermès Kelly Bag 35cm schwarz. [IMAE] | Available at: https://www.rebelle.com/hermes-taschen-76240 The Wall Street Journal (2015). | Handbag Prices Begin to Hit Their Limit. [ONLINE] | Available at: http://www.wsj.com/articles/the-sky-is-no-longer-the-limit-on-handbagprices-1425503512 Want China Times (2012). | Why are luxury goods so expensive in China?. [ONLINE] | Available at: http://www.wantchinatimes.com/news-subclass-cnt.aspx? id=20120321000001&cid=1502

Defining Luxury

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The Historic Timeline

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The Prospect

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The Market

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The Consumer

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The Design

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The Opportunities

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Key Findings

BIBLIOGRAPHY PAGE 21: Bain & Company (2015). | 2014 China Luxury Market Study. [ONLINE] | Available at: https://www.fccihk.com/files/dpt_image/5_committees/Luxury%20Committee/Luxury%20watch %202015-2016/Luxury%20watch%2015%20February/150120_2014%20China%20Luxury%20market%20study_vF.pdf CNBC (2013). | Logo fatique? Chinese now want understated luxury. [ONLINE] | Available at: http://www.cnbc.com/2013/11/21/logo-fatigue-chinese-now-want-understated-luxury.html Louis Vuitton (2015). | Louis Vutton Handbags. [IMAGE] | Available at: http://de.louisvuitton.com/deu-de/damen/handtaschen/to-2 My Image Collection (2015). | Luxury Fashion Brand Logos. [IMAGE] | Available at: http://exeoinc.com/luxury-brand-logo/luxury-brand-logos-on-uncategorized-decor/ PAGE 22: The Agency (2013). | The Snake is the New Dragon for Luxury Brands. [IMAGE] | Available at: http://www.theagencyre.com/2013/02/luxury-brands-say-snake-is-the-new-dragon/ Bain & Company (2015). | 2014 China Luxury Market Study. [ONLINE] | Available at: https://www.fccihk.com/files/dpt_image/5_committees/Luxury%20Committee/Luxury%20watch %202015-2016/Luxury%20watch%2015%20February/150120_2014%20China%20Luxury%20market%20study_vF.pdf Marketing China (2015). | How to protect your luxury brand on the Chinese market?. [IONLINE] | Available at: http://marketingtochina.com/how-to-protect-your-luxury-brand-on-thechinese-market/ Wikia (N.D.). | Symbol Glatorian Vastus Elemental. [IMAGE] | Available at: http://bionicle.wikia.com/wiki/File:Symbol_Glatorian_Vastus_Elemental.png PAGE 23: Clker.com (2008). | Biodegradable Symbol Clip Art. [IMAGE] | Available at: http://www.clker.com/clipart-24085.html Freepik (2014). | Customer Support Symbol. [IMAGE] | Available at: http://www.freepik.com/free-icon/customer-support-symbol_723237.htm HK Strategy (2015). | Consumers Now Want Total Luxury: Function, Feeling and Craftmanship. [ONLINE] ] Available at: http://www.hkstrategies.com/blogs/consumer-marketing/ consumers-now-want-total-luxury-function-feeling-and-craftsmanship Iber China (2015). | Luxury Market in China. [ONLINE] | Available at: http://www.iberchina.org/files/Luxury_market_China2015.pdf Imgkid.com (N.D.). | Mouse Symbol. [IMAGE] | Available at: http://imgkid.com/computer-mouse-icon-png.shtml Luxury Daily (2014). | Allowing others to tell your brand story adds authenticity. [ONLINE] | Available at: http://www.luxurydaily.com/allowing-others-to-tell-your-brand-story-addsauthenticity/ Macro Business (2014). | Yuan Symbol. [IMAGE] | Available at: http://www.macrobusiness.com.au/2014/04/sydney-to-become-yuan-trading-hub/ Marketing China (2015). | How to protect your luxury brand on the Chinese market?. [IONLINE] | Available at: http://marketingtochina.com/how-to-protect-your-luxury-brand-on-thechinese-market/

Defining Luxury

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The Historic Timeline

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The Prospect

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The Market

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The Consumer

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The Design

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The Opportunities

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Key Findings

BIBLIOGRAPHY PAGE 23: Thinkstock (N.D.). | Authenticity Seal. [IMAGE] | Available at: http://www.thinkstockphotos.co.uk/image/stock-illustration-wax-shield-authenticity-seal/162975690 The Wall Street Journal (2015). | Why Chanel’s Price Cuts in China Could Boost Its Brand. [ONLINE] | Available at: http://www.wsj.com/articles/why-chanels-price-cuts-in-china-couldboost-its-brand-1426762108 Worldatlas (2015). | China Map. [IMAGE] | Available at: http//www.worldatlas.com/ PAGE 24: About Religion (N.D.). | Triangles. [IMAGE] | Available at: http://altreligion.about.com/od/symbols/ig/Geometric-Shapes/Triangles.htm Clker.com (2010). | Shopping Cart Clip Art. [IMAGE] | Available at: http://www.clker.com/clipart-shopping-cart.html Deviant Art (N.D.). | Growth Symbol. [IMAGE] | Available at: http://zeezedzee.deviantart.com/art/Wall-e-Directive-T-Shirt-175809970 McKinsey (2012). | Luxury Without Borders: China’s New Class of Shoppers Take on the World. [ONLINE] | Available at: https://solutions.mckinsey.com/insightschina/_SiteNote/WWW/ GetFile.aspx?uri=/insightschina/default/en-us/about/our_publications/Files/wp2055036759/Luxury+Without+Borders+China%E2%80%99s+New+Class+of+Shoppers+Take+on +the+World_fd6a761f-2b88-4e8f-a7cc-8afac03a88f1.pdf UX Repo (N.D.). | Android Store Vector Icon. [IMAGE] | Available at: http://uxrepo.com/icon/android-store-by-google-material Worldatlas (2015). | China Map. [IMAGE] | Available at: http//www.worldatlas.com/ PAGE 31: Deloitte (2015). | Global Powers of Luxury Goods 2015. [IMAGE] | Available at: http://www2.deloitte.com/content/dam/Deloitte/global/Documents/Consumer-Business/gx-cb-globalpower-of-luxury-web.pdf