In 2005, it was Shanghai's "Fashion Year". Top brands from around the world competed in Shanghai, Armani, Cartier, Etro, Emilio Pucci, etc. Shanghai's Bund No. 3 and Bund No. 18 became a place where fashion brands live. The â€œInternational Top Fashion Brand Industry Summitâ€ organized by the â€œFinancial and Business Dailyâ€ organized by the British â€œMonday's Top Fashion Brandsâ€ a few months ago pushed the Shanghai â€œFashion Yearâ€ to a climax.
If you are an old Shanghai, you will not forget about ten years ago in Shanghai. At that time, almost all of the world's top brands were gathered in the malls of five-star hotels in the city, and they were barely visible in the market. The only promotion is also in some of the few fashion magazines. At that time, all the world's top brands loved Hong Kong and Japan.
Ten years later, it turned upside down. Chanel moved the only ready-to-wear show in Asia to Shanghai; Vogue, the world's leading clothing and beauty magazine, entered Shanghai; President of Bulgari announced that the development plan for the next five years will be focused on Shanghai, China; and the ambition of Japanâ€™s largest pearl brand, â€œTatsusaki Pearlâ€ In a three-year period, it is necessary to increase the turnover in China to 10% of the total turnover; the Italian luxury brand Tod's announced that it will open 70 directly-operated stores in China. The world's largest luxury goods group LVMH is only in Japan and China. Sales accounted for 62% of total sales... China, like a magnet attracts the giants of the world's fashion industry.
If ten years ago, these top brands set up counters in Shanghai just for ceremonial brand promotion, their development in Shanghai today is entirely for future survival and development.
According to statistical data released by Goldman Sachs and Morgan Stanley in Shanghai, China is currently the sixth largest consumer of luxury goods in the world. About 170 million people in Chinaâ€™s population have the ability to purchase fashion brands and 13 million people have the ability to do so. Buy top brands, and a large part of these 13 million people are concentrated in Shanghai.
The Italian luxury brand Etro founder Gimmo Etro visited China 30 years ago. Thirty years later, when he came to China again and came to Shanghai, he used â€œshockâ€ to describe his inner feelings and use â€œcrazyâ€. "To describe the pace of development in Shanghai, he will certainly not easily miss this luxury consumer of the future. Mr. Tasaki, the general representative of Japanâ€™s number one Tasaki Pearl, who had just arrived in Shanghai ten years ago, was deeply attracted by the rejuvenated commercial vigor and decided to bring his own brand to Shanghai. Ten years later, he is full of confidence in the potential of the people of Shanghai. The future development will no doubt remain Shanghai.
Cartier opened its flagship store on the Bund in Shanghai. It is a star-studded, majestic, eye-catching and has become a major event in Shanghai's shopping district and fashion scene.
Why is Shanghai so attractive to these top brands?
As Chinaâ€™s commercial center, Shanghai, along with its economic growth, the strong purchasing power demonstrated in these two years has attracted worldwide attention. Some people have once ridiculed the concept of Shanghai â€œbehind the United States for 20 years and 15 years behind Japanâ€. In fact, Shanghai people's enthusiasm for brand names is very similar to that of Japan 15 years ago. A consortium has estimated that by 2008, Chinese consumersâ€™ purchases will account for 20% of the entire luxury goods industry. Shanghai consumers will occupy most of the country and will likely replace the Japanese to become a luxury industry. The greatest strength. On the other hand, after these top brands move to China, the cost of â€œMade in Chinaâ€ will become very low, and the profit margin will be several times more than that of the European and American markets.Furthermore, starting from the development needs of Shanghai itself, Shanghai urgently needs the introduction of foreign capital to accelerate the development of the local economy. Therefore, in recent years, Shanghaiâ€™s governments at all levels have been committed to attracting foreign investors, actively opening up preferential policies and various fast-track channels for foreign capital, and forming top-level channels. Brand enters Shanghai in a good political environment. Based on the above three reasons, how can such a fat market cake in Shanghai not attract the favor of many top brands? We can not hesitate to believe that in the next decade, Shanghai, as a pearl embedded in the Chinese territory, will gradually give off its dazzling light and become a true "Pearl of the Orient."
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