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China to become the world’s biggest consumer market
Business of Fashion
China is on route to overtake the US as the world’s largest consumer market ‘very soon’. According to the China Reform Forum, the country’s top economic planning agency, China’s retail sales in 2019 surpassed RMB40 trillion (approximately USD6 trillion), compared to the US’ USD6.2 trillion retail sales.
Mulberry China retail sales up 75%
Mulberry Group has published their interim results including data up to September 26, 2020. The Asia-Pacific region was the only to report revenue growth, while China performed the best with a 75% increase in retail sales during Q2-Q3 2020 compared to the same period in 2019
Vogue Café opens first China location
Vogue Café Beijing opened its door in late November. The café, located at China World Mall, will be followed by a second venue in Shanghai in 2021.
Luxury Brands Must Take Action to Navigate the Now in China
The new Chinese consumers report highlights perspectives on the trends that are defining the “next-normal” in post-pandemic China.
China’s top 10 up-and-coming cities
Vogue Business in China’s 2020 New Fashion Capital Index Report provides fashion and luxury brands with data and perspectives that will further contribute to the upgrading and development of the Chinese fashion market.