Over the next two years, Italian fashion brand Dolce & Gabbana plans to increase its presence in China from its current 26 stores to a total of 41 boutiques.
Like many luxury brands, D&G is shifting its focus to China for increasing revenue.
“America was the last 100 years,” said D&G designer Stefano Gabbana. “China is the next 100.”
Although Japan has lately been one of the world’s top luxury markets, the Japanese have been slowing their spending. Recent events in Japan will further hurt the nation’s luxury market. Instead, economic predictors expect China to soon move into the number-one position as the world’s largest market for luxury goods. Market research group CLSA Asia-Pacific Markets projects that the Chinese market will reach over one hundred billion in luxury sales by 2020. And they could be right: last year alone, D&G sales in the Far East increased 26 percent.
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