Chinese brands are becoming increasingly competitive in the world’s most populous nation’s luxury market, putting international players under financial pressure.
Bloomberg reports that domestic brands, including Shanghai Jahwa and Eve Group, are employing a variety of marketing techniques to appeal to luxury consumers. Many emphasise their Chinese roots to stoke national pride.
The trend reflects China’s increasing economic power and the rise of an affluent urban-dwelling middle class over recent years. According to figures from Bain & Co, Chinese luxury sales reached CNY212 billion (USD33.66b) in 2011.