China’s High-End Fashion Industry Is Booming and It’s Unstoppable
China’s high-end consumer market has been rapidly expanding in recent years. According to Bain & Company, while the global luxury market shrank by 23% in 2020, mainland China’s market share nearly doubled, rising from 11% in 2019 to 20% in 2020.
During the Chinese Singles’ Day shopping event in 2019, ICICLE, a high-end Chinese female apparel brand, surpassed international brands such as Theory and Sandro to become the best-selling luxury women’s fashion brand on Tmall, with total sales of 1.66 billion yuan in 2020.
Experts predict that by 2025, Chinese consumers will account for the majority of global apparel and luxury consumption.
In 2020, Première Vision entered the Chinese market. On the one hand, it aims to assist global quality suppliers in expanding their business in China’s maturing and rapidly growing fashion market. On the other hand, it also serves to discover quality Chinese supply chain enterprises that prioritize research and development and innovation based on the standard PV selection system so as to help these businesses comply with international standards.
Consumption Power and Industrial Foundation Go Hand in Hand
Shenzhen has become a strategic hub for high-end luxury fashion and its international supply chain in the Chinese market
Shenzhen, as one of China’s “fashion capitals with global influence”, has its unique edge. Different from Shanghai, which has become a window for many brands with its historical and cultural accumulation, Shenzhen integrates design, production, trade, and exchange in the fashion industry.
Shenzhen’s garment industry currently has four “wins” in the country. As one of the pillar industries of Shenzhen’s economy, there are over 2,500 fashion brands and nearly ten listed enterprises. Also, the total economic output of Shenzhen’s garment industry is 10% of the country’s total, with 60% of the high-end market share.
After 30 years of intensive cultivation, Shenzhen has become one of China’s most significant fashion industry centers and has established a strong foundation in the textile supply chain that is unrivaled in the Asia-Pacific market.
Meanwhile, Shenzhen’s GDP continues to grow rapidly, ranking among the country’s top three. As the level of high-end consumption power continues to rise, it has become a strategic location for foreign luxury brands to promote their products.
Two French luxury brands, Louis Vuitton and Cartier, respectively held their shows in Shenzhen in November 2021, presenting their brands’ creative exchanges and glamorous parties to the audience.
For a variety of advantages, such as the accumulation of fashion consumption power and the textile industry, a favorable business environment and administrative guarantees, and the Shenzhen government’s policy support for the exhibition economy, Première Vision designated Shenzhen as the strategic landing point for the Asia-Pacific region and fully launched Première Vision Shenzhen (“PV Shenzhen”) in 2020.
From April 19 to 21, 2022, the Shenzhen World Exhibition & Convention Center (Baoan) will host the 4th Première Vision Shenzhen dedicated to the Spring-Summer 23 collections.
The 4th Première Vision Shenzhen registration is now open for exhibitors, with a registration deadline on February 25, 2022 for new candidates, and March 4th for returning exhibitors.
April 19 to 21, 2022
Join Us at China’s Top Event of Textile Supply Chain