Among the city’s glittering lights and gleaming skyscrapers, Italian brand Moschino celebrated its 30th anniversary on June 6th in Shanghai. The special occasion also marked Moschino’s first runway show in China as the brand introduced its 2014 spring men’s and women’s resort collections.
The event honored the brand’s history, but it was also a toast to the brand’s future, especially in the Chinese market. Within the featured women’s resort collection, dresses were made shorter and more fitted, and necklines are cut more conservatively – alterations made more suitable for the Chinese taste. The show hosted celebrity guests including Chinese actress Zhang Ziyi and Chinese models Du Juan and Emma Pei.
Moschino only entered the Chinese market five years ago. Today, the company has 42 stores. Moschino’s executives realize a lot more needs to be done to raise consumer awareness about the brand and how it differentiates from the more mature luxury players in China.
“There is always a first time for everything. The real motivation is to help the Chinese people know more about Moschino,” Rossella Jardini, Moschino’s creative director told WWD.
“China is so big, and not everyone knows what the soul of Moschino is,” said Massimo Ferretti, President of Aeffe, the parent company of Moschino. “We believe China, for Moschino, could be very important. Our brand awareness is not enough. Moschino is known but not well known.” Ferrettii expects China to comprise less than 10% of the brand’s global sales this year.
However, the relatively shallow market penetration in China could also be to Moschino’s advantage. A 2012 McKinsey study of mainland consumers show that a growing set of more sophisticated consumers are seeking out brands other than mainstream luxury players in order to differentiate themselves from their peers. “Interest among Chinese in products that appeal to their individuality is clearly on the rise,” the report says.
“For us to be different is a key factor and a point of success,” Alessandro Varisco, Moschino’s CEO said. Varisco said Moschino has plans to open at least four new flagships in Beijing and Shanghai, though the timeline for the openings has not been finalized. As of now, the brand does not have any directly operated retail locations in the country.
photo credit: moschino