The market in China is not just about volumes anymore. With the disposable incomes rising significantly, the affluent Chinese have created demand for luxury brands and goods. As a result all the luxury brands have focused their attention to China and its growing market. Prada has also increased its activity there and will stage a fashion show of its spring collection in Beijing on January 22. The runway show will also feature new pieces specifically created for the show.
Prada has done very well in China this year and seen its sale jump by as much as 51% in just one year, in the Chinese markets. It is rumored that they might even get listed on the Hong Kong stock exchange. The fashion brands are taking Beijing very seriously because of the immense potential it promises. Phillip Lim hosted a fashion show of cheongsam-inspired dresses on Beijing’s Forbidden City wall recently.
Brands like Tod’s and Ermeneglido Zegna have thrown parties or done shows in China. Ferregamo had a show in Hong Kong. Chanel, Fendi, and Christian Dior have all staged fashion shows in China. Diane Von Furstenberg is exhibiting a retrospective in Beijing soon. The most encouraging thing about the fashion and luxury market of China is that Anna Wintour has indicated bringing the Vogue Fashion Fund to China