ChinaChic:TheEmergenceofChineseLuxuryBrandsFebruary2022CONTENTOUTLINE1.HowChineseconsumersdefineluxuryinChina32.Chineseluxurybrandsaregainingmomentum73.TheimpactofGuochaoonChina’sluxuryindustry144.HypothesesfortheemergenceofChineseluxury20brands5.Aboutus4221.wChineseconsumersdefineluxuryinChinaTodayinChina,luxurymeansself-expression,self-actualizationandcommunity-buildingYoungerMillennialsandGenZarechangingthedefinitionofluxuryinChina,makingluxurygoodsshiftfrombeingsignalsofsocialstatustobecominginstrumentsofself-actualization,self-expressionandcommunity-building.EldergenerationsusedtoconsiderluxuryasmainlyasymbolofChineseGenZ’smainreasonsforpurchasingl...
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