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The economic growth in China is a huge driver of the luxury goods market and demand for high-quality products increases correspondingly – there are more international brands entering this space than ever before! In 2021 alone, sales revenue of leather luxury goods reached US$8 541 billion. More young generations purchase fashion and the importance of…
In China, leather goods are the quintessence of luxury with fashion. In 2021, the luxury leather goods market should reach 8.2 billion USD with an annual growth rate of 7%. Yes, leather goods are trendy. But what about wallets in particular? When we talk about a wallet brand in China, the market is very specific…
What is the most competitive market in the world? Obviously, China. Many brands enter the Chinese market without knowing the bags trends in China and the high competition occurring. Per category, China has the largest number of competitors. So for the luxury bags, brands will face between 5 to 10 times more competitors in China…