Home / Knowledge / News / Fashion / Luxury market to be fueled by II & III tier cities
Luxury market to be fueled by II & III tier cities
25
Jul '09
Luxury market in China which includes jewelry, leather products, fashion apparels, perfumes etc reached around US $8 billion during 2007.

This attracted many international luxury brands. Numerous luxury brands like Versace, Rolex, Chanel, Omega, Dior, Prada, and Zegna have dipped their toes in the country.

Cities such as Shanghai and Beijing have attracted the investments of retail giants like Giorgio Armani.

China has 100 cities with population exceeding one million. With the increase in disposable income of consumers and their inclination to acquire a social strata and willingness to express uniqueness in their lifestyle, the luxury market is getting its momentum.

The II and III tier cities are also catching up fast with I tier cities. Middle class population in China is estimated to grow and reach 250 million by 2010.

With the growing interest of middle class people towards luxury products, the market is heating up. Social status is now becoming imperative for middle income people as well.

Luxury products enable the consumers to project a social class. Consumers from II and III tier cities feel the need to 'close the gap' and build up an I tier image and are willing to pay the high price that a luxury product commands in order to move up the social strata.

Click here to read the complete article.

Fibre2fashion News Desk - India


Must ReadView All

Bangladesh demands better prices for garment items from US

Apparel/Garments | On 21st Sep 2018

Bangladesh demands better prices for garment items from US

Bangladesh sought better prices for its exports, especially garments, ...

Courtesy: EFI

Textiles | On 21st Sep 2018

Digital textile printing expected to grow at 20% CAGR

Digital textile printing is at this time about 3-4 per cent of all...

Courtesy:  Vishal Banik on Unsplash

Textiles | On 21st Sep 2018

Pakistan's textile exports up 3.72% in July-August 2018

The value of textile and garment exports from Pakistan increased 3.72 ...

Interviews View All

Amit Jain, Shingora Textiles Ltd

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Smita Murarka, Amanté

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

C Kamatchisundaram, Voltas

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Sandip Bhojani, Manthan Patel,

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Anupam Arya,

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Manoj Sorathiya,

Manoj Sorathiya

Surat-based Sunrise Imports &amp; Exports Co is a manufacturer and...

Mark Paterson, Technical Absorbents Ltd

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Melissa Tate, University of New South Wales

Melissa Tate
University of New South Wales

<div><div><div><div><b>Melissa Tate</b>, a well-known scientist currently...

Johan Berlin, Investkonsult Sweden AB

Johan Berlin
Investkonsult Sweden AB

Investkonsult Sweden AB are consultants in the nonwoven and absorbent...

Pranav Mishra, Huemn

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Mike Hoffman, Gildan Activewear SRL

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Yash P. Kotak, Bombay Hemp Company

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


September 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search