Luxury in China: The End of Bling

Abstract

Luxury in China immediately brings to mind throngs of Louis Vuitton-toting men and women, decked out head-to-toe in Gucci clothes. For many international luxury brands, China provided a lifeline following the global financial meltdown. Chinese consumers are undeniably one of the most important customer groups for these brands, be it within China, or abroad. In 2010, China replaced Japan as the world’s second largest economy, and barely two years later, Greater China became the world’s largest luxury market (CMR Group Research 2013). Understanding Chinese consumers has become every luxury brand’s priority.