Designers cash in on celebrity babies
Luxury brands are looking to cash in on China's "little emperors and empresses", Matt Hodges and Yu Ran discover.
Christmas has come early to the Ralph Lauren kids' clothing store at Plaza 66 on Nanjing West Road. By mid-November, it is already decked out in white, red and green as it prepares to cash in on two emerging trends: gift-giving at Yuletide and increased spending on kids' luxury fashionwear. cotton drawstring bag
Inside, Chen Fang, a housewife from Hubei province in her early 30s, is sifting through embroidered velvet and flutter-sleeve dresses for her four-year-old while her husband guards some shopping bags from Chanel.
"We fly to Shanghai to shop because we can't get these brands where we live," says Chen. cotton drawstring bag
"I don't have a specific budget for my daughter, but I spend as much on her as I do on myself," she adds "I buy new clothes and shoes each season, mostly from luxury branded stores, to keep her looking different from the other kids." cotton drawstring bag
Baby Dior set down tent poles in Shanghai in 2010 – four years after Zara opened its first kids' clothing store in the city — and a slew of top-end foreign brands have followed suit in the last year alone. At Dior's outlet in Plaza 66, two shrunken but fancy-looking chairs in the changing room add to its Alice-in-Wonderland, doll-house vibe. cotton drawstring bag
Now, over one-third of the fourth floor at Plaza 66 is dedicated to foreign luxury brands for kids – Armani Junior, Moschino Baby, Young Versace – as luxury retail sales across the country have been hit by a wide-ranging clampdown on graft and gifting with public funds, compelling retailers to diversify their revenue streams.
The Chinese mainland's luxury goods market slowed from 7 percent growth in 2012 to around 2 percent in 2013, and is expected to see zero growth this year, according to two luxury studies released by Bain & Company, the most recent being in October.
Watches and menswear were particularly hit by the anti-graft campaign, with the growth momentum shifting to women's categories and fashion, it added.
The good news for retailers is that they can earn higher profits on kids' clothing because less material is used but the prices aren't much lower, say researchers at the University of International Business and Economics in Beijing. cotton drawstring bag
Even Ferragamo recently launched a mini-selection of girls' shoes in two classic ladies' designs in Shanghai. cotton drawstring bag
"The baby and kid luxury market is very likely to continue growing at a faster clip than the rest of the luxury market in China as a result of the recent slowdown," says Javier Calvar, COO of Albatross Global Solutions, a Hong Kong-headquartered marketing services provider. cotton drawstring bag
"This is because Chinese parents would rather stop buying for themselves than for their children," he adds. cotton drawstring bag
Young celebrities
Back at Ralph Lauren, a sales clerk draws Chen's attention to a red velvet jacket priced 3,000 yuan ($490) that, since the airing of a reality TV show featuring famous dads and their young offspring, has gained the cachet of celebrity status. cotton drawstring bag
"It's the jacket Angela Wang wore on TV," says the shop assistant, referencing a widely-viewed Ralph Lauren fashion show for kids. cotton drawstring bag
Angela Wang, a.k.a. Wang Shiling, shot to fame in 2013 at the age of four while participating in the hit reality parenting program Dad! Where Are We Going? with her father, director Wang Yuelun. Her mother is television host Li Xiang.
Hunan TV acquired the rights to the popular Korean show of the same name and Wang subsequently became well-known for wearing outlandishly priced outfits in excess of 10,000 yuan, both on- and off - air. cotton drawstring bag
Now China's one-child policy and growing ranks of high-net-worth individuals are dovetailing in just the right direction for the purveyors of kiddies' catwalk fashion. cotton drawstring bag
"I used to buy a Birkin bag (Hermes) every year as a gift for myself," says Fang Jinqi, a 30-year-old mother of a two-year-old boy from Shanghai. "Now I spend half of that (about 100,000 yuan) on myself, and the other half buying luxury clothes for my son."
Young celebrities
Back at Ralph Lauren, a sales clerk draws Chen's attention to a red velvet jacket priced 3,000 yuan ($490) that, since the airing of a reality TV show featuring famous dads and their young offspring, has gained the cachet of celebrity status. cotton drawstring bag
"It's the jacket Angela Wang wore on TV," says the shop assistant, referencing a widely-viewed Ralph Lauren fashion show for kids. cotton drawstring bag
Angela Wang, a.k.a. Wang Shiling, shot to fame in 2013 at the age of four while participating in the hit reality parenting program Dad! Where Are We Going? with her father, director Wang Yuelun. Her mother is television host Li Xiang.
Hunan TV acquired the rights to the popular Korean show of the same name and Wang subsequently became well-known for wearing outlandishly priced outfits in excess of 10,000 yuan, both on- and off - air. cotton drawstring bag
Now China's one-child policy and growing ranks of high-net-worth individuals are dovetailing in just the right direction for the purveyors of kiddies' catwalk fashion. cotton drawstring bag
"I used to buy a Birkin bag (Hermes) every year as a gift for myself," says Fang Jinqi, a 30-year-old mother of a two-year-old boy from Shanghai. "Now I spend half of that (about 100,000 yuan) on myself, and the other half buying luxury clothes for my son. cotton drawstring bag
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