Made in China’s New Tale
LONDON — American fashion companies may be nervous about the growing trade war between the U.S. and China, while Western brands continue to target Chinese consumers as the world’s largest buyers of luxury goods. But in China itself, while Western brands dominate in terms of accessories and beauty, Chinese companies actually top the market when it comes to fashion. And these brands are increasingly turning the phrase “Made in China” into an asset. This is all part of the Chinese government’s goal of moving the company’s manufacturers up the value chain. In 2015, China’s Prime Minister Li Keqiang launched the Made in China initiative, known as MIC 2025, which seeks to modernize the country’s industrial capabilities. The country sees MIC 2025 as a chance to integrate itself into the global manufacturing chain and more effectively cooperate with industrialized economies. The outcome has been fruitful. Walking around premium Shanghai shopping malls, it’s apparent how Chinese brands lead when it comes to fashion and the local consumer. Last year, during Tmall Singles’ Day’s shopping festival — an indicator of the retail climate — seven out of the 10 best-selling women’s wear and men’s wear brands were Chinese. Andrew Hou, manufacturing general manager of Icicle, the Shanghai-based high-endFollow WWD on Twitter or become a fan on Facebook.
from WWDWWD http://bit.ly/2Jnudbz
0 comments:
Post a Comment