With the arrival of the Chinese Lunar New Year, numerous international brands have explored the culture of the Chinese zodiac and launched limited edition Year of the Dragon products to embrace consumers in the Asian country.
Large duty-free stores in the southern Chinese island province of Hainan have been decorated with red hues and dragon-themed objects. International brands are showcasing their Spring Festival collections, including cosmetics, clothing, bags, jewelry and alcoholic beverages, in an offensive aimed at Chinese consumers.
Among the Year of the Dragon limited editions that have gained prominence are Lego products called Auspicious Dragon, the silk scarf printed with a dragon from Ferragamo and the Swarovski necklace with a dragon pendant.
China’s luxury market recorded a 12% annual increase in 2023, recovering from the pandemic slump, according to the latest report from Bain & Company. By 2023, it was estimated that Chinese luxury consumption would represent approximately 22% of the global total. According to the report, by 2030, Chinese consumption is expected to represent 35 to 40%, consolidating its position as one of the main luxury markets globally.
Source: http://www.chinahoje.net/marcas-internacionais-abracam-mercado-chines-explorando-o-ano-do-dragao/
