Sipping champagne and nibbling fried dumplings, Shanghai's rich and influential posed by Louis Vuitton signs at a runway afterparty –- a lavish affair designed to win customers in China's crucial market.
Louis Vuitton described its 'Voyager' show in Shanghai last month as the 'next chapter in a strong, longstanding relationship' with China. Photo: Hector RETAMAL / AFPSipping champagne and nibbling fried dumplings, Shanghai's rich and influential posed by Louis Vuitton signs at a runway afterparty –- a lavish affair designed to win customers in China's crucial market.
Brands with a strong presence in China like Louis Vuitton are staging special events and handing out perks to VICs –- an acronym for Very Important Clients. Photo: Hector RETAMAL / AFPBrands with a strong presence in China like Louis Vuitton are staging special events and handing out perks to VICs –- an acronym for Very Important Clients.
At the afterparty, influencers and VICs, many dressed head-to-toe in Louis Vuitton, mingled under flashing neon street signs, sampling fancified Chinese streetLouis Vuitton's parent company LVMH is among the fashion houses so far proving fairly resilient in the face of China's economic headwinds. Overall, however, the market has slowed down, with consultancy firm Bain & Company forecasting single-digit growth in the Chinese luxury market in 2024 compared to 12 percent last year."The economic downturn is impacting Chinese luxury consumers' confidence," said Lisa Nan, correspondent for Jing Daily, which reports on the Chinese luxury sector.
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