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Luxury brands under the microscope

Some years ago, the Chinese luxury consumer was purely driven by brand ownership and the attached status this provided. They didn’t question the ethics or honesty of the brand, but assumed that it was perfect. This same assumption of perfection was the antithesis of the assumption that everything Chinese was imperfect, the ying and the yang of a luxury lifestyle.

The slower economy, increased consumer knowledge and greater confidence in themselves has led the same consumer groups to dig a little deeper into the brands and their own purchases. They have started to look past the brand name and its general reputation and to really understand what they are being sold, and some brands are finding this uncomfortable.

An example recently in the media has been Zegna. Its entry-level suit sells for about 20,000 RMB…

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