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Prospects of Italian fashion to rise in China: Report
Aug '13
The Italian fashion industry’s prospects brighten as increasing number of consumers from China are interested in buying clothes that are made in Italy, according to a recent report.
The ‘Report 2012-2016’ by SACE, an insurance and finance group, titled the ‘Quando l’export diventa necessario: Le prospettive di crescita delle esportazioni italiane’ (When exports become necessary: Growth prospects of Italian exports), suggests China would be the ‘new customer’ of Italian fashion.
According to the report, sales of Italian textile and clothing would increase by 17.7 percent on an average in 2013-2016. 
The progressive increase of the income of the Chinese consumers and the simultaneous change of social conventions are the major factors influencing the phenomenon.
The Chinese consumer’s attraction for luxury has led to the increase in interest of buying designer labels from Italy.
The consumers aged less than 45 years seek quality products, both in terms of processing and materials used, and are geared towards established brands internationally.
Italian products provide such quality resulting into the growing consumption of these products.
The report states that the luxury market in China has experienced the fastest growth in the world and the country accounts for 21 percent of the world consumption of high range products. 
According to the report, the potential of growth of the luxury consumption in China is expected to increase 20 to 30 percent in the next five years.

Fibre2fashion News Desk - India

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