Street style at the Shanghai Concrete and Grass festival.
MILAN— Chinese luxury e-tailer Mei.com, which is controlled by e-commerce giant Alibaba, organized an event here Tuesday to present the business opportunities in China for Italian luxury brands.For the event, Mei.com teamed with management consulting firm Bain & Co., which presented its latest research, “China and Chinese Customers in the Global Luxury Goods Market."Bain partner and report coauthor Federica Levato highlighted that Chinese customers represent 30 percent of global consumers of personal luxury goods, a market valued at 240 billion euros in 2016.In particular, the research noted that Chinese customers, who previously tended to shop for luxury goods exclusively when traveling outside of their homeland, are boosting domestic consumption of fashion and high-end personal items. This shift is motivated by the government’s strategy and the harmonization of prices around the world.Although 35 percent of Chinese customers are still interested in logos, in the next three years, 91 percent of them said they will look into more sophisticated products with a strong design component and 82 percent of them revealed they are interested in purchasing niche, emerging labels. In addition, 66 percent of those interviewed said they aim to increase their luxury shopping at outlets.In addition, Bain’s research focused on the fact that Chinese customers are becoming less “omnivore” and more “demanding.” This means they are more interested in exploring new product categories and brands. With the growth of the Chinese middle-class, Bain noted that a new type of customer is emerging, the “Wannabe,” who pays more attention to prices and looks for accessible brands and aspirational luxury labels’ entry products.According to Bain, the maturation process of Chinese consumers has been boosted by three factors. They include the overexposure of traditional luxury labels in China, which in the last 10 years opened a huge number of stores in the country; digitalization, and a new interest in luxury experiences rather than only in products.The research also pointed to the growing importance of e-commerce in China, where 78 percent of luxury consumers search products online before making a purchase. While previously they tended to shop more on international web sites, in the last year 50 percent of those surveyed said they have increased their shopping on domestic e-tailers. While only 8 percent of Chinese luxury purchases are made online, Bain forecast this percentage would spike in the next few years. According to the research, they will be boosted by Millennials, the rising middle class, as well as by the new generation of working women.“Along with the United States, China is definitely a priority for us and it must be for the Italian companies,” said Michele Scannavini, president of ICE, the Italian trade agency, who highlighted the importance of digitalization as a crucial tool to penetrate the Chinese market.In particular, Scannavini said ICE is developing a digital education program for small and medium-sized companies, along with creating partnerships with online platforms, including Alibaba, to increase the visibility of Italian goods on a global scale.
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)
As one of the most recognizable models in the world, Christy Turlington Burns has an insider’s view of the fashion industry and the allegations of sexual harassment swirling around it. “I can say that harassment and mistreatment have always been widely known and tolerated in the industry. The industry is surrounded by predators who thrive on the constant rejection and loneliness so many of us have experiences at some point in our careers,” Turlington told WWD, along with her suggestions for how the modeling world should protect younger women and men. Read more on WWD.com. Link in bio. (📷: Tony Palmieri) #wwdnews
@asics America has tapped a new brand ambassador: famed DJ/record producer @steveaoki. This initiative is intended to set the tone for the new brand identity and philosophy and will include partnerships with influencers and in-store and off-line activations that will continue into next year. This is Asics’ most significant marketing effort in two decades, and is expected to attract younger consumers to the brand. #wwdfashion
24-year-old Jean Prounis is redefining the rules of jewelry. Formerly a studio assistant to Jemima Kirke and a design apprentice at Ghuran, she focuses on handcrafted subtleties and ancient goldsmithing techniques. “There was a really sterile feel in the environment and I wanted to have jewelry with character that shapes how you wear it everyday,” Prounis said. Each piece is hand made in New York, either by Prounis or three other jewelers in the district. #wwdfashion
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews