Daisy Liu embodies China's obsession with luxury brands: his shoes are Giuseppe Zanotti, her brooch Chanel, Hermes scarf flower is elegantly knotted at the shoulder. However, it is not dead a monogram Louis Vuitton handbag ever.
Liu rich buyers are turning up their noses at the labels they believe have been corrupted by the common touch, looking for undervalued and exclusive products from the likes of Chanel and Hermes, the place. This is a great challenge for the designers to the world's fastest hoping to profit luxury market is growing.
"I have two handbags Louis Vuitton, but I do not do well, they are always in fashion," said Liu, an employee of 31 years at a multinational cosmetics.
"I do not think the brand fits me more."
More than a decade of strong economic growth has helped to increase the disposable incomes of millions of Chinese people, creating legions of men and women with an insatiable appetite for status symbols, regardless of cost.
Importance of China for companies like Louis Vuitton LVMH and PPR parent SA Gucci undisputed: In the past year, while Europe was plagued by the financial crisis and the U.S. economy faltering, the mainland Chinese buyers spent about 111 billion yuan (18 billion euros) on luxury goods, according to Bain & Co.
China is the third largest market in the world of luxury goods with a value of at least 160 billion yuan (25 billion). Over the next three years is expected to burn about Japan and the United States to take the lead, with the luxury segment is growing at 180 billion yuan (28 billion).
As he grows, the market also maturation of so-called luxury is ambitious, where bling is king, what experts call the ultimate in luxury: the desire, as both are rich and sophisticated.
"In the past it was just a checklist. If you are one of the top five brands were in some magazine, you've found that people in China just the checklist checks purchased and to the list," said Vincent Liu, a partner at Boston Consulting group.
"In the future people will be more selective. You know what and where and when to use what brands and products."
For demanding consumers and Liu, this means that buying a $ 2000 Chanel bag and a mini-clutch Prada. It also has a sheepskin pocket eyed coral Bottega Veneta, the Italian fashion house known for its signature woven leather products known.
"Not the rich, the millionaires really real, they will want to buy Louis Vuitton or Gucci because they are too trivial," says Shaun Rein, Managing Director, China Market Research Group. "The rich get richer and they want exclusivity and unaccountability."
Overexposed
Luxury market in China will grow 18 to 20% this year, surpassing forecasts significantly in the single digits for Europe, America and Japan, according to Bain, the rapid expansion of the luxury companies such as LVMH says large.
For years, the dead LV monogram "Speedy" was a classic dome of Audrey Hepburn favored one of the most sought after pockets of Chinese women, for it was to do a clear signal: Costs double purse $ 400, an average Chinese worker earns in a month.
The brand, the cash cow of the LVMH Group's income and are almost twice as high as Gucci, widely regarded as the nearest competitor.
But, like LVMH rose in China - there are currently about 38 Louis Vuitton stores are, even in remote areas such as South Guangxi Zhuang Autonomous Region, compared with the 57 or so in Japan - he lost some of its cachet.
"In China, Louis Vuitton brand is the same as you have-yi, or domestic helpers, can not afford," said one consultant, retailing, the name, to be honest, are rejected.
When asked to comment, LVMH, told Reuters by e-mail that he expected "to lead new on the market" by a new store opens next month in Shanghai Chic Plaza 66 shopping center. "The Plaza 66 as the futuristic Vuitton confirmed in China," said the e-mail.
Gucci is not immediately respond to requests for comment on.
LV is one of the most popular labels in China - A recent survey by a group of Strategists digital set-top luxury of web searches by consumers.
But brands like Chanel and Hermes, however, pick up quickly.
A recent study by Bain shows Handbags twice as many Chinese now coveted Hermes, the creators of the famous Birkin and Kelly, and the brand is the third most likely to be bought by Gucci and Louis Vuitton.
"Some prefer Hermes, because our products are more subtle and not exposed," China Brand President Leo Liu, the news agency Reuters said in a statement Emailed.
Some Like It UP
Gao Jie, 27, buy a PR staff regularly luxury goods, Hermes is the ultimate status symbol: your bags are handmade, come in limited quantities, all of which cost between $ 9,000 to $ 150,000 and are generally not for the general public.
Gao said that this year, it wants to buy a handbag multicolored candies Kelly will cost at least four times his monthly salary of 20,000 yuan ($ 3,100).
"There are certain things that are by design classic and widely recognized by the market. I really hope someday to be able to have all these classic designs," said Gao, who stands out on a regular basis some of his salary, income and to invest in stocks to buy shoes and bags.
To attract buyers, such as Gao, LVMH and other luxury brands are trying to find the difficult balance between exclusivity and popularity to remain profitable.
LVMH offers its clients services more expensive to try and customs, are a myth around the brand Louis Vuitton, whose creations for both common and as easy to copy to be maintained.
The company is also cautious about the use of new businesses realize that the brand would suffer from too much visibility.
These strategies will be notified to convince Chinese buyers because their pockets to carry Daisy Liu LV is unclear.
"Luxury integrated, it is this notion of exclusivity. Everyone There is always a fine line that brands need to go", Torsten Stocker, a partner with business strategists monitor group.
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