CHINA LOVES MADE IN ITALY

China is fast becoming the main importer of the Italian luxury market.  The big names of Italian fashion, such as Zegna, Ferragamo, Gucci, Bulgari, Armani and Max Mara all report big increases in sales among Chinese buyers.  Ferragamo  reports that the Chinese market will overtake the USA  the maisons traditional main market - in 2011. China has already overtaken Japan in many cases. In 2009, Prada announced more sales in China than in Japan, with Bulgari expecting to reach the same result this year.

Armando Branchini, general secretary of Altagamma, the association of companies producing luxury Made in Italy products predicts that Greater China (the Chinese Republic, plus Hong Kong and Macao) will overtake Japan by 2013 at the latest. At present Japan represents 10-11% of total world sales. The USA, he says, continues to absorb some 30% of the high fashion market, but China is expected to catch up by 2020-2025.  

 

 

Posted on 02 Oct 2010 by Editor
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