Opportunity for luxury brands in China
Given the scale of the Chinese market, international luxury brand to continue or become successful must win in China to continue wining in the rest of the world. Chinese yuppies are driving the demand, buying everything from expensive watches to imported cars. Those that are able to gain and maintain a preferential share of these Chinese affluent consumers will be able to sustain their global image and compete in equal terms with the future emerging Chinese luxury brands. The reason Chinese affluent men and women buy Rolex watches and Louis Vuitton bags are not simply because of the Swiss craftsmanship or French design. Their motivation to buy these luxury brands has its roots in the more complex Confucian values and demand for social recognition, and the growing influence of Western values. For this reason it is important to understand the roots and changes of the culture and values that determine the buying behavior of the modern Chine affluent consumer.
When requesting a correction, please mention this item's handle: RePEc:pil:wpaper:31. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Nuno Reis)
If references are entirely missing, you can add them using this form.