PARIS – Gucci is the top brand choice for affluent Chinese women intending to buy a designer handbag or shoes within the next year, according to a recent survey by RBC Capital Markets.Seventy percent of the 411 respondents to the November survey said they would buy Gucci shoes. Prada, Louis Vuitton, Miu Miu and Salvatore Ferragamo follow in the ranking of brand preferences.Gucci also edged out Chanel regarding purchasing intent for handbags, with 50 percent of those surveyed citing the Italian brand and 49 percent the French house. Prada, Louis Vuitton and Hermès round out the top five.Consumers surveyed said they prized beautiful designs, brand reputation and fashion appeal as the most important factors in their brand choice. Secondary factors on the rise include “shopping experience” and “reasonable price.”But the gap has narrowed between consumers seeking highly recognizable designs and those preferring discreet, understated styles.“The Chinese consumer is becoming increasingly sophisticated and is trading up to less widely available and more discreet brands,” luxury analyst Rogerio Fujimori wrote in the research note.Younger consumers, those under 34, cited different brand preferences with Mulberry, Miu Miu, Alexander McQueen, Alexander Wang and Givenchy taking the top five spots.The survey suggests the “sweet spot” for luxury handbags is 1,800 euros to 2,700 euros, or $1,900 to $2,850 at current exchange rates, with the propensity to purchase bags over 2,000 euros, or $2,110, rising since an August survey. That “bodes well for the likes of Hermès and Chanel,” the report said.Chanel ranks the highest among Chinese consumers intending to purchase designer ready-to-wear, with 55 percent of respondents citing the brand. Gucci, Prada, Louis Vuitton and Giorgio Armani round out the top five.Among brands rising in the rtw rankings were Dior, Burberry and Fendi, whose rtw and furs are designed by Karl Lagerfeld, also Chanel’s chief designer.About 90 percent of the women surveyed were between 25 and 44 years old and 70 percent of them already own between two and five luxury handbags.RBC estimates that handbags represent about 20 percent of the total market for personal luxury goods, with Chinese consumers accounting for 30 percent of global luxury sales.
Exclusive: @isabelmarant and @lorealmakeup have teamed up to create a capsule makeup collection. "She is rather natural in the day but doesn't have time to go back home before going out [in the evening] and redo her entire beauty look," said Marant on the 5 products included in the collection, which will launching in September. Read @jenniferbethweil's interview with the designer on WWD.com. #wwdnews #wwdbeauty
After 17 years, Tomas Maier is leaving @bottegaveneta. “I am deeply grateful to him and I personally thank him for the work he accomplished, and for the exceptional success he helped to achieve,” said François-Henri Pinault, head of parent company @kering_official. Head to WWD.com for more on his departure. #wwdnews #wwdfashion (📷: Davide Maestri)
@shaymitchell is no stranger to teaming up with beauty brands, but she’s made her latest partnership official: She’s signed with @buxomcosmetics as global creative brand ambassador, WWD learned exclusively. Mitchell and Buxom will collaborate on campaign development, social media strategy and content and new product and shade development. Read more on WWD.com. #wwdbeauty (📷: @clint_spaulding)
Today we’re at the WWD Retail 20/20 Forum where industry leaders will be talking about the future of shopping for fashion, footwear and beauty. Tune in on Instagram Live at 9 am and 3:30 pm to hear from two of our speakers –– @therealreal’s Rati Levesque and @bandier’s Stephen Ippolito. #wwdsummits (📷: @elizaflorendo)
Seen last night at @coach’s launch party for “Life Coach,” an interactive pop-up in Soho: @joansmalls. Open now, visitors of the pop-up can engage in themes of “creativity and self-expression,” through tarot, carnival games, live performances and art. See the rest of the party pics on WWD.com. #wwdeye (📷: @vnina)
“We figure there’s enough cynicism to go around the world right now let’s go out there and be ourselves, let’s be enthusiastic, let’s have positive energy, which is something I think a lot of people really want and need right now,” said musician @joshgroban ahead of hosting the Tony Awards with @sarabareilles. Read @leighn’s interview with Groban on how he picked his look for the night, his next record and more on WWD.com. #wwdeye #tonyawards (📷: @vnina)
“Rock as an attitude and not a uniform. Street as a style and not just clothing. Sportswear as the new normality,” @paul_surridge said of his first @roberto_cavalli men’s wear collection, previewed here. The British designer joined the brand as the creative director in May 2017, and is gearing up to unveil his debut for the label with a runway show at the Florence Charterhouse on June 13 at #PittiUomo. Head to WWD.com to read more about his collection and see more sneak peek photos. #wwdfashion (📷: @simonelezzi)