Anti-corruption/ Agent Provocateur increases
its sales of lingerie
Chinese consumers—famous for their appetite for designer bags and
gold-plated iPhone cases—are now shying away from flashy logos and displays of
wealth as a government austerity campaign shames officials who buy them. Sales
of luxury goods, which include glitzy jewelry and couture, were down 1% last year in China, according to consulting firm Bain & Co.
But many Chinese
appear to be flaunting their wealth under their clothes. Sales of high-end
undergarments—encompassing bras fetching 300 yuan or more, among other
items—have increased since 2012 and last year accounted for 30% of lingerie
sales, said Neil Wang, Greater China managing director of consulting firm Frost
& Sullivan.
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