In these times earnings from luxury goods sales are becoming increasingly important. Why is this? Well some of the factors that have caused this increase in demand for fine luxury goods is the current state of the global economy. China has become an emerging power and its impact on world markets has been immense. At the same time there has also been an emergence of new manufacturing industries in countries like South Korea, Taiwan, Hong Kong and Japan. These new Asian manufacturing bases have helped to lift output levels up to all time highs which have pushed up the prices of luxury goods.
There are a number of reasons behind the recent surge in the prices of luxury goods in China. While there is no doubt that China has become an increasingly important trading partner for the western world, it is also true that there are significant differences between the economic structures of the two economies. Whilst China’s economy relies on state run central planning, the west has lost most of its traditional manufacturing bases over the past thirty years. This has resulted in a loss of jobs for Chinese workers and a rise in unemployment for the United States, United Kingdom and other advanced economies.
As such the global luxury market has found itself flooded with relatively cheap products from the emerging eastern markets. The main factor that has helped to make these products so cheap is that over the past couple of decades China has liberalized its restrictive commercial policies. Previously such restrictive measures prevented local producers from entering the market. However, the relaxation of these policies has meant that there are more opportunities for foreign manufacturers to enter the Chinese luxury goods market.
One such company that has recently launched into the Chinese market is the exclusive private label manufacturer, . This company specialises in producing high quality luxury items from the Asian region. Recent research by the Centre for Strategic Consumption revealed that this brand power became the largest luxury producer outside of Europe and North America. This company’s unique blend of affordability and luxury has made them one of the fastest growing companies within the private label luxury sector.
Another company that has recently begun to launch into the Chinese market is the exclusive private label manufacturer, . This company produces luxury toiletries such as bath and body care ranges, shampoos, aftershave and hair care ranges. They aim to create an upscale grooming experience and to create an iconic British luxury brand. The private label brand overland also produces perfumes and colognes that are aimed at the sophisticated male consumer. They claim that the scents will “fit the bill” for men who are “tired of smelling like a man”. They also produce an assortment of fragrances that are targeted particularly at the female fragrance buyer.
The third major overland company that has started production in China is the exclusive private label manufacturer, . Their range includes men’s perfumes, toiletries and cosmetics. They aim to create a “luxury lifestyle experience” for their customers. The ranges include “Dry-ilarious”, “Gentleman”, and “Powerland”. The company is aiming to be at the top of its game and compete with the big names in the luxury brands in the world today. They currently export to Australia, South Africa, India and the United States.
The fourth independent overland company is the exclusive private label manufacturer of private label cosmetics, . They have been producing cosmetics and skincare products for the Chinese market for the last ten years and continue to increase market share. They also plan on expanding their business into other countries in the future including Latin America and Europe.
So what do you think about these new Chinese owned overland companies that are coming to the U.S.? Do you think they have the potential to become one of the national independent luxury brands? If so, who would you choose to import your items from these companies? Would you consider them as an alternative to the big names in the fashion industry? Let us know in the comments section below.