Beauty offer boosts Chanel above Louis Vuitton
Chanel has become the most sought after luxury brand in China, according to the second edition of the World Luxury Index China. The brand overtook Louis Vuitton thanks to rising interest in the beauty segment, while interest for Louis Vuitton originated mainly from the fashion segment.
According to David Sadigh, founder and CEO of Digital Luxury Group, responsible for the World Luxury Index China: “Louis Vuitton has reported a disappointing first quarter, while brands from different segments ranging from Chanel to Coach or Burberry are continuing to grow.”
This year’s report reveals that Chinese consumer interest in the luxury market is dominated by cars (53.30%), beauty (22.70%) and fashion (14.90%).
Among those brands operating solely in beauty, Estée Lauder took the top spot. According to Digital Luxury Group, American beauty brands like Estée Lauder and Lauder-owned Clinique are popular for skin care products, while European brands are favoured for fragrance.