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First lady’s choice in clothes can move the market. Michelle Obama, first lady of the US. once made the stock of J.Crew climb 25% in three days and brought the American fashion brand Jason Wu $2.7 billion in total. Liyuan Peng, who wears Chinese domestic high-end brands in every big event, also caused some enthusiasm. However, as time went by, few continue to show interest in those brands.

米歇尔 pengliyuan

China doesn’t have any meaningful form of luxury brands now. High-end fashion brands can’t only rely on the “first lady effect”, become popular for a short time and remain silent again. Look at European luxury brands like Gucci and Louis Vuitton as examples, during their development procedure, they all made changes in their business model and marketing strategies to win the market. According to “Transient advantage”by Rita Gunther McGrath,we live in a world without constancy,so do those brands. And their temporary advantages won’t last forever. If Chinese high-end fashion brands want to be big enough to compete with those world famous brands, they still have a long and tough way to go.

 

Someone says these brands should win domestic market first and then become international. However, high-spenders in China tend to pursue international big brands and they don’t have enough trust in domestic brands. So, how about trying another way,develop in the international market first and then attract domestic consumers?

resource:

http://theweek.com/article/index/208656/michelle-obamas-3-billion-fashion-effect

 
 

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