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Why the Chinese market is lack of domestic luxuries?

 


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Chinese tourists’ consumption of luxuries in the European countries has even shocked the producers. It seems that the Chinese craze for the luxuries will last for a rather long time. An acute problem is: since the luxury consumption trend is unstoppable, then, as China has the world's fastest economic growth rates why not create its own luxury brand, retaining the domestic customers within the mainland? Then these luxuries may mark into the international market and earn money from the foreigners’ pocket?

During recent years, there rally have been several domestic brands which are deemed as “luxury" and have been sold in foreign market. But these brands are little-known in the domestic market, and when they are intended to march into the international market, there are series of difficulties. Some producers are so eager to set up some luxurious brands that they even create some products under fake foreign names.

Some of the foreign brands in the domestic market are also willing to offer some help. The media reported that in 2008 Hermès co-found a pure luxury brands in China “up and down" with Jiang Qionger, a Chinese designer, and opened its first store in Shanghai in 2010. At that time, the Hermès ambitiously claimed that Hermès is the first International luxury goods company which has set a totally Chinese luxury brand, hoping to open 19 stores in China. However, nearly 1.5 years after the opening, “up and down" has not made any profits. A recent survey made by some l luxury journal indicated that most of the Chinese consumers do not favor the domestic luxury products. For one thing, the luxuries do not merely consist of high price and high quality. It consists of stories behind the brands. Each luxury brand is unique and usually possesses long history. Therefore, it is impossible to establish an internationally famous brand within a short period of time. For another, in China, at present the patent has not been paid due attention to. As long as there are famous brands, the copy ones will soon become widespread in the domestic market and the consumers will worry about that they may buy the fake products. Such being the case, the consumers would rather choose the foreign luxuries.

So at present, the Chinese consumers are willing to spend a large sum of money on the luxurious products in the foreign market. failing to win the large group of domestic consumers make it rather difficult for the domestic luxury brands to prosper within a period of time.

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