Like all emerging nations where appearance is of the utmost importance, China is a country that is passionate about fashion.
China is expected to become the largest fashion market within the next few years. According to McKinsey & Co., – in 2015 about 20% of the world’s luxury brand sales (US$27 billion) will come from China, as the country becomes one of the most valuable fashion markets in the world.
Many Chinese women will spend a larger percentage of their income on fashion magazines than Western women. The New York Times says, ‘We’re going through this wonderful period where huge numbers of women are coming out of poverty into the middle class and beyond. Many of these women are choosing to spend on luxury goods.’
The Chinese consumer is now much more aware of global fashion trends with more recent exposure to Western media. Apart from the most desired luxury brands such as Louis Vuitton, Chanel and Gucci, more fashion brands have been introduced to China in recent years, including high-end fashion brands Victoria Beckham and Marc Jacobs, as well as medium-end and fast fashion brands such as H&M, Zara, Topshop and Forever21.
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