Stripes are the new black on the catwalk in the year of the tiger
There's money in the kitty as fashion houses jump on the Chinese-zodiac bandwagon to access a huge potential market in the year of the tiger
30 January 2022 - 00:01
More than 2-billion people worldwide will celebrate Chinese New Year this week, ushering in the year of the tiger, and smart fashion houses across the globe are jumping on the bandwagon. In the hunt for the ever important Chinese consumer, creating animal-themed collections that relate to the zodiac creature of the year is becoming increasingly important.
According to consulting firm McKinsey, China is expected to account for about 40% of global luxury spending by 2025. This is a huge increase in the past 12 years — in the previous year of the tiger, in 2010, China accounted for only 12% of luxury spending. Last Lunar New Year — the year of the ox — customers spent 821 billion yuan (about R1.9-trillion) on branded luxury products...
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