Brighter future seen for China's luxury goods industry

A salesman shows a special Panda logo on a Louis Vuitton handbag in a LV boutique in Dalian.CHINA DAILY

Michele Alberti, CEO of Luxemporium Investments SA, a Switzerland-based fashion trading company that is co-invested by Shanghai Spring Bamboo Group, the city's leading wool and cashmere manufacturer, said Chinese consumers are becoming more sophisticated and mature.

But there is no need to draw a circle where the Chinese are inside and people from other countries are outside. There is no need to study them differently, he said.

"Chinese consumers should no longer be alienated. I am always asked what's the most distinguishing feature of Chinese consumers. I think it's (the fact that) they are growing more similar to consumers from other countries, if not leading the industry," said Alberti, who was part of the management of leading luxury goods companies such as Bally and Salvatore Ferragamo.

In 2014, he joined Luxemporium, and played a key role in the opening of the company's first multi-brand store in Tianjin's Friendship Department Store in January.

The 3,000-square-meter store on the second floor of the Friendship Department Store offers a wide range of footwear, bags and accessories from over 80 brands, including some of the most-sought-after designer brands such as 3.1 Phillip Lim, Charlotte Olympia and Sophie Hulme.

Alberti said one-third of them are designer brands that are rising in popularity in China as well as globally. "It's happening everywhere, especially China ... even the richest people are pairing H&M or Zara clothes with much pricier and chic bags and shoes. People are looking for style, instead of statement."