2020 is a year of crisis with global ramifications, but guest Erwan Rambourg was on this episode of Digital China to share his optimistic stance on not just the Chinese luxury consumption but also the next 10 years for the luxury sector. Many trends that were necessary and visible in the luxury market before the pandemic were accelerated in COVID times. For instance, even before the pandemic hit, luxury brands were no longer solely dependant on travel retail. As more brands entered the market, competition became tougher and growth was harder to achieve. Brands saw the growth of localised consumption and realised the importance of catering to the needs of local consumers. This was already a much different scene compared to 15 years ago when the market was essentially supply driven.
Listen to Ashley’s interview with Erwan Rambourg on his new book “The Future of Luxe” and see …
- What the future of luxury will be like in China?
- Are Chinese consumers back in stores? Have their motives changed?
- Are big or niche brands winning?
- What’s next in the global luxury market?
Erwan Rambourg has been a top-ranked analyst covering the luxury and sporting goods sectors for 15 years. After 8 years as a Marketing Manager in the luxury industry, notably for LVMH and Richemont, he is now a Managing Director and Global Head of Consumer & Retail equity research.