For luxury brands, the Asian market has always been an emerging market full of potential. In the early ten years, the Japanese market has performed outstandingly, and the strong purchasing power of consumers has even allowed the country to grab a separate paragraph in many financial reports. In recent years, the Chinese market has gradually replaced Japan as the most important luxury purchasing power in Asia. But recently, the fashion media "Women's Daily" issued a document saying that Japan is re-engaging the attention of European luxury Dacoz brands, especially Italian brands.
“They know exactly what they want – and the labels made in Italy are enough to bring in sales.” The Women’s Daily uses a phrase to describe the appeal of Japanese consumers to European luxury brands.
It is not a delusion to come to this judgment. Valentino, Max Mara, and Dior will host a large-scale brand event in Japan in the coming months. Bottega Veneta also chose Tokyo to release the first series of new creative director Daniel Lee, and will open the largest store in Asia in Ginza.
The important reason behind this is that the Japanese economy has begun to resume growth. According to Deloitte's "Global Power of Luxury Goods 2018", "The Japanese economy is optimistic, which allows the luxury market to begin to recover steadily after a long period of silence, plus tourists and younger generations of consumers. With the increase, the Japanese luxury goods market will see further growth."
Another behavioral forecasting expert, Will Higham, mentioned that in addition to the economics at the macro level, the impact of the 2020 Tokyo Olympics, coupled with the maturity of Japan's domestic minimalism, has a positive impact on the luxury market. The former does not have to say much, the latter in the 20s and 30s will re-explore the pursuit of quality goods with increased purchasing power.
In addition to sales, luxury goods are also dedicated to the dissemination of art, aesthetics and brand stories. In an interview with Women's Daily, Bally's CEO Frédéric de Narp mentioned that Japanese consumers' interest in this area is the most rare compared to other regional markets.
“There is no place in the world that can care and know the story Newchic Coupon behind the product like Japanese consumers. These stories are the root of luxury goods, and that concern is unique to the Japanese market,” Narp said.
