China is making a name for itself in the world of luxury bags. This post is all about the companies themselves, how they got to where they are now, and what makes them so successful. You'll also find out why China has ended up being one of the most profitable markets in luxury goods and what we can expect from China's future in this industry.
China as an investment-grade rating:
China is notorious for its high levels of counterfeiting and logos, which China has kept from being enforced by all the customs and security. China's main problem in their business industry is that they don't always have a 'legitimate' way of making money for them. With all these problems, you can expect the Chinese market to be low in demand for luxury goods. Also, because China has been criticized by different countries due to their questionable trademark policies and extensive amounts of counterfeit goods, China was rated as being too risky for investing investors. This led to the country being rated as junk-rated and practically worthless.
How China got their market on track:
In 2001, the Chinese government decided to try a new method for controlling their market. The idea was to make sure that only genuine luxury goods would be able to enter the country, and that's exactly what they did. Since then, China has been making a name for themselves in the world of luxury goods. They've made it into three of the most profitable markets in luxury goods and are now on track to become one of Europe's biggest markets by 2020. All of this was done without any help from the luxury goods community in the western world.
What China is doing right: There are many things that helped make China one of the most profitable markets in luxury goods. For example, they have established factories and retail stores that can produce and sell their goods on a large scale. Another thing they've done well is setting up direct distribution channels with names like QVC, Debenhams, and Bergdorf Goodman. In addition, with all of these channels, China has been able to establish their own brands that rival some of the best known luxury brands in the world today. Visit here - https://www.chinabags.ltd/