Luxury giants tap into mainland market
Updated: 2013-11-11 07:24
By Zhao Xin (China Daily)
Wang Jing/China Daily
"Admit it or not, what the young generation of Chinese fashionistas is looking for is 'recognizable cool', meaning 'edge with pedigree'" said Jiang. "They want to look effortlessly stylish, but at the same time they are reluctant to spend thousands on an item that fails to elicit the envy of their peers."
When asked how Lafayette Beijing will make up for lost social cachet when compared with the flagship store, whose innate charm lies in its Parisian location, Chemla said, "The way the Beijing store is organized is very focused on a 'mix-and-match' attitude ... This is very French!"
"We are targeting all customers who love fashion and look for a unique lifestyle to enjoy life. From this aspect, the Beijing store shares the same customer base as the French store," he said. "At the same time, the Beijing store will make Galeries Lafayette available to Chinese consumers who don't have the opportunity to go to Paris often."
In response, Jiang offered his own advice for foreign-based retailers looking to establish a base in China. "Go to the second-tier cities," he said. "That's where all the money has come from."
Zhou Huiting, Wu Wencong and Tang Yue contributed to this story.
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