Mario Boselli: China remains the number one priority for luxury
Speaking at the 5th edition of the Luxury Summit organized by Il Sole 24 in Milan, Mario Boselli, the President of the National Chamber of Italian Fashion (Camera Nazionale della Moda Italiana) highlighted that China remains the most important luxury market, despite the current slow down which he considers as ‘voluntary’ given the shift of consumption for locally made products. ‘In the next 5 years, over 400 million Chinese from the countryside will become luxury consumers’ said Boselli. There are 37 Third Tier cities in China with over 1 million inhabitants, which represent a huge potential for luxury’.
On the challenges that China poses to luxury brands, Boselli said the focus should be on usurping not counterfeiting. Many Italian luxury brands including Bottega Veneta, DSquared2 and Iceberg have been facing ‘pre-registration’ of their brand.
Live coverage from 5th edition of the Luxury Summit in Milan – with the support of Four Seasons Hotel, Milan