China: trends for Australian brands

Vogue China editor-in-chief Angelica Cheung is well versed on fashion business trends in China.

Here are the four top insights presented by Cheung at the recent China Fashion & Retail Forum in Sydney.

1. The power of millennials

Vogue China is set to launch a new publication next month aimed at the millennial generation. Cheung described this consumer set as a major force in the future of the market. "This will be the first generation in China that did not experience poverty," she said. Cheung described these consumers as digitally-orientated, averse to authority, influenced by celebrity culture and driven by desire not value for money. "The economic boom in China only started 10 to 20 years ago and so the style and cultural differences between the generations are significant."

 

2. The changing preferences of Chinese consumers

Cheung believes luxury consumers are in a transitional phase, driven by the proliferation of foreign brands in the market. "The last ten years has been a dense and overwhelming experience for Chinese consumers," she explained. As the dust settles on an insatiable appetite for luxury European brands, there could be new opportunities for Australian players. "You were not there in the early days and big brands were given priority. Now our consumer is confident in her choices; she doesn't have to carry the right bag. She knows what she wants which is good for newcomers."

 

3. China is growing in confidence

When Cheung launched Vogue China ten years ago, she said there was initial scepticism. In addition to challenges securing top international photographers for the magazine, there were few prolific Chinese models, stylists and creatives in the market. At the time, Cheung even launched a 'Made in China' column to promote local designers. "I wanted to change perceptions of China and it was very hard to find three of four designers which could look good next to Vuitton or YSL." Gradually things changed, with the title now boasting 1.3 million readers and 8 million social media followers in China. "The column was also dropped two years ago. Our designers are no longer a vulnerable or weak community that needs to be singled out for support."

 

4. The need for a collective voice

"When you think of French fashion, Italian fashion, British fashion, you have an idea of what that means. It would help Australian designers to have a collective voice," Cheung said. She believes strict guidelines set in place by CFDA and New York Fashion Week developed a unique positioning for American fashion. "Ten years ago, no-one went to New York Fashion Week and now it is firmly on the calendar. Overall, this helped in creating a specific voice." Cheung conceded some critics believe the strategy drowns individuality. "But it creates a strong brand image. There is a way to foster independent voices under one umbrella."