LONDON — For the most affluent Chinese luxury consumers, it’s the idea of craftsmanship that most defines luxury, ahead of the concepts of high price and status. That’s according to a report by the market research company Mintel will release Wednesday.
The firm said that of the Chinese luxury consumers it interviewed, 71 percent of those with a household income of over 25,000 renminbi, or $4,064 a month, defined luxury as “craftsmanship,” a ten percent increase on those luxury consumers earning between 20,000 and 25,000 renminbi, or between $3,251 and $4,064, a month.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"