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China Luxury Apparel and Accessories Market Report, 2012-2015

Abstract

In 2012, the global luxury market valued EUR212 billion, representing a year-on-year increase of 10%. Chinese consumers became the world's largest consumer group of luxury goods and they spent RMB306 billion in the world, most of which was done in Hong Kong, Macao and other countries / regions, while only 39.28% in Mainland China.

Total Luxury Consumption of Chinese Consumers, 2008-2012

Source: ResearchInChina China Luxury Apparel and
Accessories Market Report, 2012-2015

In 2012, as China's economic growth slowed down as well as the government cut expenses on dining, cars, wine and other aspects, the Chinese mainland luxury consumption cooled down substantially, and the growth rate of the total consumption of luxury goods dropped from 30% in 2011 to 7.2% in 2012.

However, Chinese luxury consumers have changed their attitude from showing off to enjoying and rational consumption with more mature consumption concept, so Chinese luxury market will still witness steady growth in the future.

Affected by the slowdown in growth rate of Chinese mainland luxury market in 2012, major global luxury brands have adjusted their strategic layout in China in 2013, and most of them would rather enhance the performance of the existing stores than open new stores in second- and third-tier cities. Global and China Luxury Apparel Market Report, 2012-2015 mainly studies the global and Chinese luxury market size, geographical distribution, tariff policies, Chinese luxury consumers and the development of Chinese luxury E-commerce; meanwhile, it analyzes the operation of 16 major luxury brands under eight large global groups as well as their development in China.

LVMH Group acts as the world's largest luxury group that owns more than 50 luxury brands, and it still has been been exploring more brands through acquisition. As of the end of 2012, LVMH Group had set up 3,204 shops around the globe, including 670 ones in the Asia-Pacific region excluding Japan. Impacted by Chinese luxury market, LVMH Group claims that it will not expand in China in 2013 in order to maintain its high-end image, and will also cease the establishment of stores in second- and third-tier cities of China. As a member of LVMH Group, Louis Vuitton had opened a total of 45 stores in China by the end of June, 2013. In H1 2013, LV built a new store in Shanghai and Wuhan each.

61% of the revenue of Kering Group (formerly known as PPR) stemmed from the luxury business in 2012, in which GUCCI was the biggest contributor that had possessed 60 stores in Mainland China (including Sanya Gucci Duty Free Store) by the end of June 2013. By geographical distribution, many Gucci stores are located in second-tier cities such as Shijiazhuang, Taiyuan and Zhengzhou, aside from first-tier cities Beijing and Shanghai.

STUDY GOAL AND OBJECTIVES

This report provides the industry executives with strategically significant competitor information, analysis, insight and projection on the competitive pattern and key companies in the industry, crucial to the development and implementation of effective business, marketing and R&D programs.

REPORT OBJECTIVES

  • To establish a comprehensive, factual, annually updated and cost-effective information base on market size, competition patterns, market segments, goals and strategies of the leading players in the market, reviews and forecasts.
  • To assist potential market entrants in evaluating prospective acquisition and joint venture candidates.
  • To complement the organizations' internal competitor information gathering efforts with strategic analysis, data interpretation and insight.
  • To suggest for concerned investors in line with the current development of this industry as well as the development tendency.
  • To help company to succeed in a competitive market, and understand the size and growth rate of any opportunity.

METHODOLOGY

Both primary and secondary research methodologies were used in preparing this study. Initially, a comprehensive and exhaustive search of the literature on this industry was conducted. These sources included related books and journals, trade literature, marketing literature, other product/promotional literature, annual reports, security analyst reports, and other publications. Subsequently, telephone interviews or email correspondence was conducted with marketing executives etc. Other sources included related magazines, academics, and consulting companies.

INFORMATION SOURCES

The primary information sources include Company Reports, and National Bureau of Statistics of China etc.

Table of Contents

1. Overview of Luxury Apparel Industry

  • 1.1. Definition
  • 1.2. Features
    • 1.2.1. Luxury Goods
    • 1.2.2. Luxury Apparel
  • 1.3. Development in China

2. Chinese Luxury Market

  • 2.1. Overview
  • 2.2. Market Size
  • 2.3. Tax Policy
  • 2.4. Overseas Consumption
  • 2.5. Layout of Luxury Brands in China
  • 2.6. Development Trend
    • 2.6.1. Conclusion
    • 2.6.2. Prediction

3. Geographical Analysis of Chinese Luxury Market

  • 3.1. Overview
  • 3.2. Beijing
    • 3.2.1. Main Shopping Centers
    • 3.2.2. Development Potentials
  • 3.3. Shanghai
    • 3.3.1. Main Shopping Centers
    • 3.3.2. Development Potentials
  • 3.4. Chongqing
    • 3.4.1. Main Shopping Centers
    • 3.4.2. Development Stages
    • 3.4.3. Development Potentials
  • 3.5. Duty-free Shops in Hainan

4. Chinese Luxury Consumers

  • 4.1. Features
  • 4.2. Types
  • 4.3. Purchase Potentials
  • 4.4. Purchase Preference

5. Chinese Luxury Online Shopping

  • 5.1. Overview
  • 5.2. Luxury Online Shopping Features of Chinese Netizens
  • 5.3. Pattern of Online Traders
    • 5.3.1. Overview
    • 5.3.2. ShangPin.com
    • 5.3.3. Glamour-sales
    • 5.3.4. xiu.com
    • 5.3.5. 5lux.com
    • 5.3.6. Summary
    • 5.3.7. Trends of Online Traders

6. Renown Luxury Companies Worldwide

  • 6.1. LVMH Group
    • 6.1.1. Profile
    • 6.1.2. Operation
    • 6.1.3. Revenue Structure
    • 6.1.4. Fashion and Leather Goods Business
    • 6.1.5. Louis Vuitton
    • 6.1.6. FENDI
    • 6.1.7. Dior
    • 6.1.8. Givenchy
    • 6.1.9. Thomas Pink
    • 6.2. Richemont
    • 6.2.1. Profile
    • 6.2.2. Operation
    • 6.2.3. Revenue Structure
    • 6.2.4. Dunhill
    • 6.2.5. Shanghai Tang
  • 6.3. Kering
    • 6.3.1. Profile
    • 6.3.2. Operation
    • 6.3.3. Revenue Structure
    • 6.3.4. Luxury Business
    • 6.3.5. Gucci
    • 6.3.6. Yvessaint Laurent
    • 6.3.7. Bottega Veneta
  • 6.4. Chanel
  • 6.5. Hermès
    • 6.5.1. Profile
    • 6.5.2. Operation
    • 6.5.3. Revenue Structure
    • 6.5.4. Business in China
  • 6.6. Burberry
    • 6.6.1. Profile
    • 6.6.2. Operation
    • 6.6.3. Revenue Structure
    • 6.6.4. Business in China
  • 6.7. Versace
  • 6.8. Prada
    • 6.8.1. Profile
    • 6.8.2. Operation
    • 6.8.3. Revenue Structure
    • 6.8.4. Prada
    • 6.8.5. MiuMiu

Selected Charts:

  • Global Luxury Market Size and YoY Growth Rate, 2000-2012
  • Global Luxury Market Size Structure (by Region), 2012
  • Total Luxury Consumption of Chinese Consumers, 2008-2012
  • Chinese Mainland Luxury Market Size (by Type of Commodity), 2012
  • Evolution of Chinese Luxury Tax Policies
  • Consumption Tax, VAT and Customs Duties Imposed by China on Luxury Goods
  • Import Tariffs on Some Luxury Goods Imported by China
  • Sensitivity to Changes in Purchase Prices of Luxury Goods after Tax is Reduced
  • Luxury Spending of Chinese Consumers (by Region), 2009-2012
  • Main Reasons for Overseas Luxury Consumption of Chinese People
  • Favorite Luxury Shopping Places of Chinese Luxury Consumers, 2012
  • Top Ten Countries by Global Duty-free Consumption
  • Number of Stores of Major Luxury Brands in Mainland China, 2013
  • Global Luxury Market Size and YoY Growth Rate, 2011-2015E
  • Total Luxury Spending and YoY Growth Rate of Chinese Luxury Consumers, 2011-2015E
  • Distribution of HNWIs (by Province/City) in China, 2010-2012
  • Population Proportion of Billionaires (by Region) in China, 2012
  • Distribution of Billionaires in China by Region, 2012
  • Breakdown of Consumption Patterns of Multimillionaires in China, 2010-2012
  • Total Retail Sales of Consumer Goods in Beijing, 2006-2012
  • Per Capita Disposable Income of Urban Residents in Beijing, 2006-2011
  • Total Retail Sales of Consumer Goods in Shanghai, 2006-2012
  • Per Capita Disposable Income of Urban Residents in Shanghai, 2006-2012
  • Total Retail Sales of Consumer Goods in Chongqing, 2006-2012
  • Per Capita Disposable Income of Urban Residents in Chongqing, 2006-2012
  • Offshore Duty-free Policy in Hainan, 2011-2012
  • Number and Range of Duty-free Goods Bought by Each Traveler Who Leaves Hainan Each Time, 2011-2012
  • Total Sales of Hainan Duty Free Stores (by Store), 2011-2013H1
  • Classification of Chinese Luxury Consumers and Their Consumption Share, 2012
  • Annual Income Breakdown and Proportion of Luxury Consumption of Chinese Urban Households, 2010 vs 2015
  • Sources of Luxury Information of Chinese Consumers
  • Purchase Motivations of Chinese Luxury Consumers (by Gender), 2009-2012
  • Characteristics of Luxury Goods Worth Buying for Chinese Mainland Consumers, 2011-2012
  • Top 10 Dream Luxury Brands of Chinese Luxury Consumers (by Gender), 2012
  • Transaction Size of Chinese Luxury Online Shopping Market, 2010-2015E
  • Daily Coverage of Typical Chinese Luxury Shopping Websites, Jan-Aug 2011
  • Authorized Luxury Brands of Glamour-sales
  • Classification of Luxury Shopping Websites
  • Direct Websites of Major Luxury Brands
  • E-commerce Modes of Luxury Brands
  • Revenue of LVMH Group, 2008-2012
  • Number and Distribution of Stores of LVMH Group, 2010-2012
  • Revenue Structure of LVMH Group (by Business), 2008-2012
  • Revenue Structure of LVMH Group (by Region), 2010-2012
  • Revenue Structure of LVMH Group (by Receipt Currency), 2012
  • Operation of Fashion and Leather Goods Business of LVMH Group, 2010-2012
  • Distribution of Stores of Louis Vuitton in Mainland China, 2011-Jun. 2013
  • Distribution of Stores of FENDI in Mainland China
  • Distribution of Stores of Dior in Mainland China
  • Distribution of Stores of Givenchy in Mainland China, Jun. 2013
  • Distribution of Stores of Thomas Pink in Mainland China
  • Revenue of Richemont , FY2011-FY2013
  • Operating Profit of Richemont, FY2011-FY2013
  • Revenue Structure of Richemont (by Region), FY2013
  • Revenue Structure of Richemont (by Channel), FY2012-FY2013
  • Distribution of Stores of Dunhill in Mainland China, 2012
  • Number of Stores of Shanghai Tang in Mainland China
  • Brand Distribution of Kering (by Division), as of the end of 2012
  • Revenue and Operating Profit of Kering, 2011-2012
  • Revenue Structure of Kering (by Business), 2011-2012
  • Revenue Structure of Kering (by Region), 2011-2012
  • Luxury Revenue and Operating Profit of Kering, 2011-2012
  • Luxury Revenue Structure of Kering (by Brand), 2012
  • Luxury Revenue Structure of Kering (by Business), 2012
  • Luxury Revenue Structure of Kering (by Region), 2012
  • Distribution of Direct Luxury Sales Stores of Kering (by Region), 2011-2012
  • Revenue and Operating Profit of Gucci, 2011-2012
  • Distribution of Direct Sales Stores of Gucci (by Region), 2011-2012
  • Revenue Structure of Gucci (by Business), 2012
  • Revenue Structure of Gucci (by Region), 2012
  • Distribution of Stores of Gucci in Mainland China
  • Revenue and Operating Profit of Yvessaint Laurent, 2011-2012
  • Distribution of Direct Sales Stores of Yvessaint Laurent (by Region), 2011-2012
  • Revenue Structure of Yvessaint Laurent (by Business), 2012
  • Revenue Structure of Yvessaint Laurent (by Region), 2012
  • Distribution of Stores of Yvessaint Laurent in Mainland China
  • Revenue and Net Income of Bottega Veneta, 2011-2012
  • Distribution of Direct Sales Stores of Bottega Veneta (by Region), 2011-2012
  • Revenue Structure of Bottega Veneta (by Business), 2012
  • Revenue Structure of Bottega Veneta (by Region), 2012
  • Distribution of Stores of Bottega Veneta in Mainland China
  • Distribution of Stores of Chanel in Mainland China
  • Business Structure of Hermès, by end of 2013
  • Revenue of Hermès, 2003-2012
  • Operating Profit of Hermès, 2003-2012
  • Number of Exclusive Retail Stores of Hermès, 2008-2012
  • Revenue Structure of Hermès (by Product), 2011-2012
  • Revenue Structure of Hermès (by Region), 2011-2012
  • Distribution of Stores of Hermès in Mainland China
  • Revenue of Burberry, FY2009-FY2013
  • Operating Profit of Burberry, FY2009-FY2013
  • Revenue of Burberry (by Sales Mode), FY2009-FY2013
  • Number of Stores of Burberry (by Operating Mode), FY2009-FY2013
  • Revenue of Burberry (by Business), FY2013
  • Revenue and Stores of Burberry (by Region), FY2013
  • Distribution of Stores of Burberry in Mainland China
  • Distribution of Stores of Versace in Mainland China
  • Number of Stores of Prada Group (by Brand/Region) , 2011-2012
  • Revenue and Net Income of Prada Group, 2008-2012
  • Net Sales and Breakdown of Prada Group (by Channel), 2011-2012
  • Net Sales and Structure of Prada Group (by Product), 2011-2012
  • Net Sales and Structure of Prada Group (by Brand), 2011-2012
  • Net Sales and Structure of Prada Group (by Region), 2011-2012
  • Operation of Prada Brand, 2011-2012
  • Distribution of Stores of Prada in Mainland China
  • Operation of MiuMiu Brand, 2011-2012
  • Distribution of Stores of MiuMiu Brand in Mainland China, Jun 2013
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