Belgian luxury handbags brand Delvaux said it is confident about demand in China, a key market that it entered 10 years ago, and is committed to the country, where consumers are increasingly buying quality products.
The company launched its new flagship store at WF Central, a shopping mall, in Beijing on Thursday, taking the total number of its outlets nationwide to 13.
“We have been experiencing growth in China. China has become so different and the Chinese people have shown resilience in the past years,” said Jean-Marc Loubier, CEO of Delvaux, who was in Beijing for the store inauguration.
“We are looking at growth in another decade. It’s about confidence, willingness to develop ourselves and the belief that we can attract more people,” said Loubier, who was personally involved in the design of the store right from the concept stage.
Boosted by robust demand for luxury products from style-conscious Chinese consumers across all age groups, Delvaux — which traces its roots to the 19th century — has performed solidly in the country, including in second-tier cities such as Xi’an, Shaanxi province, and Nanjing, Jiangsu province.
Ahead of the upcoming Chinese Year of the Dragon, the brand has introduced limited editions of bag straps and ornaments with dragon-themed elements, which have been well received by Chinese consumers.
China is on track to become the world’s largest luxury market by 2025, and Hainan province is poised to grow as a luxury hub, as it is set to become a completely duty-free island by 2025, according to consultancy Bain & Company.
Driven by a huge consumption market, international luxury brands have debuted limited editions of new products with dragon elements tailored for China ahead of the Lunar New Year, as they aim to attract more buyers with localization strategies.
Chinese zodiac elements have been frequently used in the designs launched during the Spring Festival.
For instance, high-end jewelry brand Qeelin debuted a style of necklace in the shape of a dragon for the holiday, with 88 pieces available in total globally.
Swiss luxury watchmaker Vacheron Constantin launched 25 pieces of limited edition timepieces with dragon elements, and IWC Schaffhausen has launched 1,000 pieces of watches with dragon elements for the festival.
On Alibaba’s e-commerce platform Tmall, luxury brands such as Gucci, Valentino, Versace and Bottega Veneta have launched more than 1,000 styles of limited edition products with dragon elements for Spring Festival.
These include bags, watches, clothing, shoes and jewelry, with several designs in red — a color associated with happiness and prosperity in China.
“Global luxury brands have been strengthening their connections with China. Spring Festival, the most important traditional holiday in China, naturally provides a good opportunity for luxury brands to boost their holiday sales,” said Zhang Weilin, an analyst at market research provider LeadLeo Research Institute.
zhuwenqian@chinadaily.com.cn
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