Beijing, China – Statement outfits and daring fashion looks pass along the catwalk as the audience rushes from one show to another during China’s Fashion Week in the capital.
They are mostly young Chinese with an appetite for original designs and luxury brands. Willing to mix-and-match new styles and defy norms, they represent a growing trend as wages rise and China’s population becomes tempted to spend on consumer goods.
According to McKinsey – a global consultancy – in 2015 about 20 percent of the world’s luxury brand sales ($27 billion) will come from China, as the country becomes one of the most valuable fashion markets in the world.
By 2020, Boston Consulting Group predicts China’s fashion market will be worth $201.3 billion, as the country moves away from the factory model and the middle class embraces consumption.
It’s an opportunity that international fashion brands do not want to miss as they try to captivate the Chinese with their acclaimed designs.
The increasing influence and popularity of China Fashion Week is a reminder of how fast the country’s domestic industry is evolving. A growing pool of homegrown designers proud of their cultural heritage are ready to take to the catwalk with Chinese inspired designs.