Does luxury rest more and more on China? The answer, nearly obvious, is given by Dior launching today, for the very first time in the history of the brand, an entire capsule collection exclusively for the Singles’ Day, on the agenda in Beijing on 11th November 2020. Besides that, for the first time a luxury top fashion house has made such choice. As a matter of fact, the Singles’ Day turns out to be a valuable opportunity to gain some more market shares in the Great Wall country. An obvious question comes to mind at this point: will the other fashion brands act in the same way as Dior?
Dior’s first time
On 13th October 2020 Dior announced, on their own official account, namely WeChat (in the picture), the launching of a capsule collection made for Chinese Singles’ Day. Besides pieces of jewellery, belts and a pair of espadrilles, picked from the cruise collection, the collection includes some limited-edition bags made from “soft lamb skin”. They stand out for the Cannage iconic motif and are embellished with stitching seams showing Christian Dior traditional logo. According to Jing Daily, Dior’s venture “proves to be one more challenge on the importance of Chinese digital channels”. Yet the fashion house, controlled by LVMH, is not going to rely on TMall web channel (which created this celebration in 2009), but will rather rest on its own boutiques and its official WeChat account. Such decision is also fostered by 83.6 million visualisations, in total, of its summer 2021 collection, in the last few weeks, in China.
The Singles’ Day
The “double eleven” celebration is a great opportunity for all fashion brands, including luxury (of course): they cannot miss it out. In fact, figures are astronomical. In 2019, on the 11/11 event, sales reached 268.4 billion yuan, that is, +25% compared to 2018. They could even break such record this year, as sales might be driven by the revenge spending. Will luxury brands simply offer some discounts, to cash in, and soften loss they suffered from in the other continents? Or, conversely, will they grab a chance, like Dior, to settle, more and more, in the Chinese market?
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