For three years, China stayed closed to the rest of the world in an effort to control an epidemic. Its border has now been declared open. From January 8, 2023, entering travelers will no longer need to be quarantined, and outbound travel for Chinese people would gradually resume, per a statement released by the National Health Commission of the PRC.
From 2020 through 2022, the three years witnessed our effort to shake up routine and open ourselves up to new possibilities. We believe that a long-term perspective and keen insight into the market’s shifting dynamics to be crucial to our success.
Market Insight No. 1: The localized luxury consumer market in China is recovering from the epidemic
According to Bain & Company, due to travel restrictions imposed by the epidemic, China’s domestic luxury goods sales more than doubled from 2019 to 2021, reaching 471 billion yuan.
The Yaok Research Institute found that from 2020 to 2022, the vast majority of China’s luxury spending occurred within the country. It also foresees a future in which 70% of Chinese luxury consumption will occur within the country and 30% outside of it.
Clothing remains the primary focus of China’s fashion market. China anticipates that the retail sales of apparel companies above authorized size would reach RMB 1,107.18 billion by 2025. Brands’ success depends on their ability to anticipate the needs of the future fashion market, invest in a forward-thinking supply chain model, and produce competitive products.
Market Insight No. 2: Sustainable circular development is on the horizon, and with it comes exciting possibilities
The Paris Agreement was established in 2015 with the common goal of reducing the impacts of global warming. China, as a signatory to the 2020 agreement, proposed the “carbon peak” target for 2030 and “carbon neutrality” target for 2060 as ways to expedite industrial upgrading.
According to the white paper The Sustainable Road to China’s Fashion Industry published in 2022, more than 90% of Chinese customers have already become aware of the issue of sustainability. Another survey found that 89% of the respondents have the intention to buy sustainable products.
The sustainable development of China’s fashion industry is not only inevitable in the era of sustainable and circular development, but also a new opportunity that must be seized.
PV Shenzhen specializes on R&D-driven high-end fashion and sustainable design in China. The 5th Première Vision Shenzhen (SS24) will be held at the Shenzhen World Exhibition & Convention Center on April 26-28, 2023. At the same time, the 26th Fashion Source Shenzhen International Clothing OEM/ODM Exhibition and the AW2023 Shenzhen Original Design Fashion Week will both take place.
PV Trend Released in China
In the PV Shenzhen Trend Area, the PV SS24 trend will be used as an index and guide to interpret the innovative samples and classic series from PV Shenzhen exhibitors. The PV Shenzhen Sustainable Focus Area is the world’s first sustainability-themed exhibition area by PV in the destination market. Exhibitors will showcase their most innovative and cutting-edge sustainable products here, while also presenting information on four main themes in sustainable development.
PV High-end Fashion Buyers from China
Sourcing decision makers from leading fashion companies, indie designers, custom and ready-to-wear design houses, and representatives from the most prominent e-commencers will all be in attendance at this year’s PV Shenzhen.
PV Shenzhen Sustainable Fashion Seminar
PV Shenzhen will collaborate with international fashion experts to discuss the challenges of Chinese brand development and the global fashion industry as a whole, as well as the latest innovations in textile technology, shifts in consumer market dynamics, policy interpretation, trends in digital advancements, and supply chain upgrades for the Chinese market.
PV Shenzhen Club
The PV Shenzhen Club creates a community in which PV’s executives, suppliers, buyers, partners as well as journalists may get together in an intimate and focused setting to exchange high-quality resources and explore business opportunities.
PV Shenzhen Branding Anecdote
A co-branded uniform STAFFONLY x PVSZ x IDOLE earned widespread attention and appreciation during the 2022 autumn exhibition. PVSZ, as the collaboration’s initiator, provided the most up-to-date color in trends developed by Première Vision; STAFFONLY, drawing inspiration from the Asian tailoring philosophy, provided an incredible design that achieves almost 100% material utilization; and IDOLE, providing a hemp-like triacetate fabric, incorporated environmentally friendly requirements into the manufacturing process. Three prominent fashion industry players pooled their wisdom to collectively interpret sustainable fashion.