Victoria Beckham joins Chinese fashion market
Victoria Beckham plans to open an online store and some boutiques in China"
As published on Business Standard and NZ city:
The 38-year-old former Spice Girl, who raises four kids with husband David Beckham, said the idea is still in the early stages but she is hoping to take her designs to the stylish crowd in the country's capital, reported Contactmusic.
"We are just researching the idea of an online store at the moment, but I really like Beijing. I think the women there are fashionable. I already sell some clothes there but maybe one day I'll have boutique stores there. That is something I am hoping for," she said.
"The wife of David Beckham and mother to his four children Brooklyn, Romeo, Cruz and Harper also admitted she my venture into kids' clothing one day.
She revealed: "There are a lot of people out there doing incredible clothes for children, so maybe one day."
Meanwhile Victoria is reportedly planning a lavish christening for her 11-month old daughter.
Victoria and her husband David are hoping to combine Harper Seven's baptism ceremony with her first birthday bash in July and Victoria is busy making preparations.
A source said: "Victoria is over the moon to be doing what she does best which is planning events for her family. Harper's christening is her ultimate planning fantasy. Harper will be the centre of attention with two events, a white themed christening and her first birthday."
Victoria backham follows years of fast groth in Chinese fashion market.
Chinese have more money today to spend on fashion than ever before for a few years now.According to China's National Bureau brought by Ehow: the annual per capita disposable income in urban areas, increased by an average of 7.2 percent per year between 1978 and 2007. In 2008, the average disposable income was 15,700 yuan about $2,300.
Tania Branigan The Guardian withAdditional research by Lin Yi shows the fashion effect of income groth in China :
"Angelica Cheung, the Chanel-frocked editor of Vogue China, has a problem her counterparts would sell their designer wardrobes for: too much advertising to fit in the glossy.
"I have to sit down at a desk to flip through it," she says. "It is going to get very difficult to read. It's too heavy. Maybe it will have to be two magazines in future."
...High-end brands are happy to assist. The ubiquitous Louis Vuitton boutiques have been joined by Loewe and Balmain. Burberry plans to expand. Hermès has even launched its own China-specific sub-brand, Shang Xia.
The management consultancy McKinsey predicted on 2011 that, as middle-class consumers acquire the designer habit too, within four years China will become the world's largest luxury market, worth $27bn (£16bn), up from $10bn in 2009. .
Add in purchases overseas, by Chinese tourists avoiding the country's sky-high luxury taxes, and the figures are staggering. Chinese consumers will buy more than 44% of the world's luxury goods by 2020, forecasts CLSA Asia-Pacific, the brokerage and investment group.
Prada shoulder bags and Gucci clutches are essential props for many businessmen. And if they are not carrying their own status symbol, young men may wield one on behalf of a girlfriend. Buying a partner an expensive handbag establishes you as husband material; carrying it for her is also appreciated,
Many of these new consumers are executives and entrepreneurs, keen to show they have made it, or the offspring of wealthy families. Others, however, are the aspirational: "Secretaries who live on instant noodles for six months to pay for their LV handbag
but there is also a new fashion style. Consumers, tired of famous brands, buy local designers.
E-commerce is very developed in China but quite excluded from the west. it may have been a new direction for local brands to raise on low budjet investment. Now it may become the playfround of many foreign brands as well.