Whether There Will Be Domestic Luxury Clothing Brands in China

Abstract

In recent years, with the improvement of China's overall economic level, China's luxury goods market has also been expanding, becoming a major consumer of luxury goods. However, the competition in the luxury goods market is fierce, but there are no local luxury brands in China. This paper analyzes whether domestic luxury brands will appear in China by studying the behavior of Chinese consumers and the current development status of Chinese luxury goods. While it is uncertain whether domestic luxury goods will emerge in China, the rapid growth of the Chinese luxury market and the rise of Chinese domestic brands suggest that the possibility is increasing. The inroads made by Chinese domestic brands in the luxury market are providing more choices for Chinese consumers and driving change in the global luxury market. In the future, as China's domestic brands continue to grow, we can expect to see more made-in-China luxury goods emerging in the international market.