New luxury brands oust high-end rivals
uniqueness and exclusiveness is just as important, which some pricey luxury products just don’t offer,” the 32-year-old said. “LV bags are everywhere in China, and some of the fake ones look just like the ones costing thousands of dollars. It just doesn’t feel right.”
Sun agreed that the saturation of counterfeit products had resulted in socalled logo fatigue. “There are so many fakes,” she said. “Considering China’s economy, it made sense for people to buy fakes at first, but it’s just gone on too long.”
Despite large seizures of counterfeit goods by authorities and regular clampdowns, China remains the world’s biggest manufacturer of fake goods, according to Sun. Redefined brands
In addition to the antigraft campaign, the increase in overseas travel by Chinese has also contributed to a decline in the luxury market.
The outbound tourism market witnessed rapid growth in the first quarter of this year, with destinations in the US and Europe among the most popular, according to the China Tourism Academy. It estimated that Chinese tourists will make 62 million visits to overseas destinations in the first half of this year, a 17 percent increase year-onyear.