Longchamp rides the ‘affordable wave’ and steps up expansion in China
Longchamp entered China in 2006 and currently has 20 stores. In 2013, it closed two stores but opened six in the country. The company has not revealed the number of stores it will open in China, but Cassegrain said that “finding the best spots was difficult because new malls were constantly being built, sometimes rendering obsolete those that opened just three or four years ago.”
Furthermore, Longchamp’s handbags, with its best-selling Pliage bag starting at under 100 euros (US$138) and leather handbags starting at 370 euros (US$510), are considered affordable luxury, which is one of the fastest-growing segment in China’s luxury market as more Chinese enter the middle class. Its main competitors are brands such as Italian leather goods maker Furla and France’s Lancel.