Multinational brands dominate the Chinese fashion retail market, with the likes of Nike, Louis Vuitton and Prada holding a vice-like grip in malls and identical-looking main streets.
But Wang Yao, vice-president of the China General Chamber of Commerce, made a hopeful speech to a small crowd at Beijing’s 798 Art Zone recently.
He touched on the importance of fashion diversification through department stores and multi-brand retailers during his keynote speech at the forum that I was co-moderating with Nels Frye, Beijing-based editor of LifeStyle Magazine.
As we found out, all is not lost. A new breed of cool, multi-brand retailers have emerged in China in recent years, bringing support and local variety to the industry. And they’re not just overseas imports such as Lane Crawford, I.T and Galeries Lafayette.
Read more at South China Morning Post