Shanghai, a developed market, is perhaps doomed to be a lucky place of fashion seekers. The long disputed LV Building settles at Hongqiao business circle of Shanghai's Changning District, and is renamed as Shangjia Centre. After completion, the building will gather over 60 high-end brands under Louis Vuitton Moët Hennessy, and also attract other best international brands to join the group, getting it to be the business centre of luxury products in Shanghai and even China.
Shangjia Centre chooses Shanghai as it sees the consumption capacity of the Yangtze River Delta. According to the statistics, 30% of the luxury consumption comes from the Yangtze River Delta. Besides, it has confidence in the bid increase potential of China's luxury consumption.
Analysts believe that international luxury brands' market share in China shall reach over 35% of the globe. "The international financial crisis will lower the whole consumption power, but it can not stop the trend of luxury brands entering Chinese markets."
And what's important is that during the financial storm of 2008-2009, there is no trend of large decline in luxury consumption in China, which also gets China to be the target for luxury products to seek new growth points.
