China continues to fuel spring luxury rebound
McKinsey & Company projects that the combined spending of 7.6 million Chinese households on luxury goods will hit RMB 1 trillion ($145 billion) by 2025, twice the amount spent in 2016.
McKinsey & Company projects that the combined spending of 7.6 million Chinese households on luxury goods will hit RMB 1 trillion ($145 billion) by 2025, twice the amount spent in 2016.
As global leadership teams flocked to China throughout March and April, a series of events held by the likes of Chanel, L’Oréal, Tiffany & Co., Cartier and Bulgari culminated in successive large-scale activations by Miu Miu and Gucci.
Though the future looks bright for existing global hot spots, especially across Europe, designer labels are now looking to make connections with shoppers in a new set of cities.
The recent engagement with emerging Chinese talent shows that luxury brands are not just looking to capitalize on established names — they are localizing their own relevance by investing in young talent from the country.
Officials from the European Union’s antitrust organization have confirmed that a visit was made to Italian fashion label Gucci’s headquarters in Milan on Tuesday, April 18.
The “intrecciato” technique at the base of the brand’s popular leather bags is documented in detail as part of the “Craft in Motion” project.
Since the departure of Alessandro Michele as creative chief, Kering-owned Gucci seems lost.