Exploration of China's Luxury Industry

Abstract

In many literature and industry market reports, the luxury industry in China usually refers to the sales situation of various Western luxury groups led by the three major luxury groups in China. The research scope of this article is based on luxury brands born in China, and at least most stages of the industry chain are based in China, rather than just luxury brands sold in China. First, this article gives the definition of luxury and grade classification of luxury goods; then it lists the current scope of China's luxury industry from two dimensions: classified by product category and classified by luxury industry parts; in the end, this article proposes several inspirations from the current situation of China's luxury industry.