I was reaching an article //here// on Forbes and results show that Louis Vuitton have finally fallen as China's favourite brand, according to World Luxury Index by the Digital Luxury Group a luxury retail consultancy. So have LV finally been ruined? Accorind to CEO of DLG it may have something to be with LV being so oversaturated in the market. With Chanel's new London store opening, are they still standing as the great fashion power.
Acording to the finding it also shows Chinese consumer's interest focuses on ten major global brands which are Chanel, Louis Vuitton, Gucci, Hermes, Coach, Prada, Dior, Burberry, Giorgio Armani and Versace. It also highlighted that handbags and wallers dominate the Chinese fashion accessories market, bringing 90% of interest to the brands.
Chinese women's fave handbag is the Celine Luggage bag, we all know the fascination from the Chinese towards luxury brands. How have LV become such a saturated product, do the brand know how to come back from this?
I think it's really interesting to see such a classic favourite be refered to as a product which is oversaturated, I guess that because of LV's popularity over the years it's clearly now at a decline. Clearly the Chinese market is something which has been flooded by LV and now other brands are being turned to in favour. I think China may have possibly just reached a point where having a Louis Vuitton isn't as glamourous as it used to be, the Chinese's love definitely stands with French design for their two top brands right now. Possibly the Chinese are begining to become more diverse with their taste.
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