SHANGHAI: Sipping champagne and nibbling fried dumplings, Shanghai's rich and influential posed by Louis Vuitton signs at a runway afterparty - a lavish affair designed to win customers in China's crucial market.
Louis Vuitton described its "Voyager" show in Shanghai last month as the "next chapter in a strong, long-standing relationship" with China . SHANGHAI: Sipping champagne and nibbling fried dumplings, Shanghai's rich and influential posed by Louis Vuitton signs at a runway afterparty - a lavish affair designed to win customers in China 's crucial market.
"Gucci will ... not be alone here as other brands have also been feeling the pinch from China's domestic spending," Fflur Roberts, head of luxury at Euromonitor International, told AFP. Its leading pieces - boldly coloured dresses marked with large cartoon-like animals - were a collaboration with contemporary Chinese artist Sun Yitian, with the brand hailing"the tremendous stylistic vitality" of the country's youth.
While its first quarter results showed its slowest rate of growth in years, the brand said that sales to domestic and overseas Chinese customers increased by about 10 per cent.Overall, however, the market has slowed down, with consultancy firm Bain & Company forecasting single-digit growth in the Chinese luxury market in 2024 compared to 12 per cent last year.
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