China Daily Global Edition (USA)
Dunhill eyeing refined menswear biz in nation
British luxury menswear brand Dunhill said it sees broad opportunities in China, and will continue to expand its footprint in the country, fueled by growing demand from discerning and style-conscious young consumers with masculine tastes.
In China, Beijing stands as the largest market for Dunhill, which is owned by
Swiss group Richemont. Sales in Guangdong province’s Shenzhen — a hub of entrepreneurship and innovation in China — have experienced quite significant growth, Dunhill said.
Last year, Dunhill saw the most robust sales growth in Beijing, Shanghai, Shenzhen and Chengdu, Sichuan province. The company operates key stores in each of the four cities.
“I think there is a fascination among the younger generation for something that is referred to as ‘old money’ style. There are a few different names for it, depending on where you are from. There is demand for more proper menswear, or manly menswear,” said Simon Holloway, creative director of Dunhill, who joined the brand last year.
With a well-established clientele in China, Dunhill is trying to reach more connoisseur-savvy consumer groups, as sales of custom-made outfits have been on the rise. Pieces in limited editions have been growing every season and every year, in addition to the growth of ready-to-wear clothing, Holloway said.
The British brand said it also sees great opportunities in footwear, and it expects quick sales growth of its knitwear and outerwear in China. In addition, sales of hard products such as writing instruments, lighters and pipes have been robust in the country.
In the next few years, the company plans to promote certain products, especially custommade, outerwear and knitwear items. The growth is expected to come from more clients who appreciate British craftsmanship and timeless classism.
“We definitely see a large opportunity in footwear in China. There are different moods where you can be more dressed up and tailored, or more casually elegant. We see opportunities on both sides of the Dunhill man, the more casual expression, and also the more formal part,” Holloway said.
After China optimized its COVID-19 response measures, the country’s luxury market experienced a strong rebound in 2023, when it saw a 12 percent yearly increase. The market recovered from the previous year’s decline due to the impact of the pandemic, but it was still slightly below 2021’s record level, according to consultancy Bain & Co.
“While China’s long-term fundamentals for luxury consumption remain robust, there are uncertainties in the near term regarding the speed of consumer confidence recovery and the growth of luxury shopping overseas,” said Xing Weiwei, partner of Bain & Co.
It is expected that most of the trends witnessed in 2023 will continue or amplify, leading to a midsingle-digit growth rate in China’s luxury market in 2024, Xing added.
Meanwhile, like many other international luxury brands, driven by the huge consumption market in China, Dunhill said it has continuously debuted special products tailored for the Chinese market ahead of the Lunar New Year, China’s most important holiday.
“We have always been doing the Chinese New Year capsules, which we take very seriously. That can be anything from an evening slipper to a lighter to a special piece of outerwear. We always do these kinds of packages,” Holloway said.