Industry Giants Are Entering &Nbsp; China Will Be The Largest Luxury Market.

The Asian fashion market continues to flourish, and the US SGS group is making use of its global textile expert network and fashion.

Entering the Asian market has become more and more important, because the brands in the US and Europe are trying to make up for the loss of currency exchange rate and the weakness of wholesale market, unfavorable exchange rate and the weakness of wholesale market, which damage the growth of brand income, and at the same time, it is also the consequence of the current economic recession.

Considering the stability of a product cost in 100 monetary units, the volatility of these currencies is even more prominent.

However, such currency appreciation also represents growth opportunities.

South Korea, Russia, Japan and China all belong to the high consumption Asian market. The European Union and American brands are expanding in these markets, aiming at increasing their share in the whole Asian market, while diversifying the global market.

Russia and Japan

Further expansion of market share in Japan and Russia is a key growth. It provides an opportunity for many famous brands and brand positioning in the United States.

The driving force behind market expansion is the consumption behavior of Japanese women. 30% of the income is spent on skin care and clothing products under certain circumstances. This has been proved.

This level of consumption is gradually expanding, and the income of Japanese women is increasing.

Among the many brands that have announced their entry into Japan, Russia and other international markets, the secret of Vitoria is one of them, which gives them and other brands the opportunity to build their brand into a brand without borders.

Timberland, Tiffany, Nike, Coach, CalvinKlein, RalphLauren, Gap and Levi s have established their place in these markets.

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The Republic of Korea

South Korea also represents a key opportunity for international brands.

Many Korean local companies tend to compete for the mid end market. Foreign brands include Giordano and G2000 from Hongkong, Forever21 and Gap from the United States, Sweden's H&M and Spain's Zara, which are already in the high-end market in Korea.

South Korea is now full of these brands, which provides a variety of options, that is, to occupy the Korean market outside the Korean market, the South Korean brand is often through the imitation Japanese chain store "UNIQLO" to participate in the competition.

China's global economy has been revival driven by Asia, especially China, rebounding from its growth trough to 11.1% digit growth rate of two.

The Asian market is likely to become the next area of retail growth and expansion.

China's sales grew by 3.7% over the same period last year. For many brands, China is a very attractive growth opportunity, especially luxury brands.

Conservatively, by 2015, the growth rate of China's clothing market will be around 10.5%, while that of 2010 is expected to exceed 63000 billion yuan.

Earlier figures showed that retail clothing sales increased 25.8% in November 2009 compared with November 2008.

Overall, from 2001 to 2008, the annual growth rate of clothing consumption in China was 14.7%, and the growth rate in 2009 was 15%.

Obviously, China's appetite for luxury high-end brands has no end. In 2009, it accounted for 27.5% of global luxury goods sales, reaching $9 billion 400 million.

The key development includes the completion of 21 direct Louis Weedon stores in Jiangsu. The number of Versace stores is doubled in 2010 to 44, and 50 Burberry group stores are stationed in 30 Chinese cities.

These growth makes it easy for China to quickly become the world's largest luxury market.

For those brands that want to take advantage of the growth opportunities in the Asian fashion market and wish to enter other new markets, SGS group can help them.

SGS global network textile experts can help them develop in the international market and help customers use SGS to build a knowledge base applicable to international market regulations.