Deeper Luxury Report - WWF UK

China, Angelica Cheung, reports growing sales of luxury
goods that do not flaunt their logos, demonstrating
that “a new class of Chinese consumers is ready to
spend money on quality and style without showing it
on their sleeves”. 68
Meanwhile, in South Korea, there are
“inconspicuous gourmands” who conform to Confucian
cultural norms against ostentation. 69
In Asia, recent years have seen a greater focus on the
logo; but it would be wrong to assume that this implies
a more superficial approach to luxury on the part of
consumers. Chadha and Husband say that “luxury
brands are a modern set of symbols that Asians are
wearing to redefine their identity and social position”. 70
Asian psychologists report that famous Western brands
have been attractive to many Asians because they have
an international profile, bestowing on the consumer an
image of modernity and success. 71
They explain that
brands are less about distinguishing oneself than
demonstrating membership of a particular social group,
as social harmony through conformity is still a common
value. Increasingly, wealthy Asian consumers share the
concerns of the well-educated and well-off in the West,
for whom sustainability has become an important issue.
In Asia, this new type of luxury can prove very popular,
as illustrated by the rush, in 2007, to buy the designer
shopping bag by Anya Hindmarch, branded with the
phrase “I’m NOT a plastic bag”. In Taiwan, Hong Kong
and Beijing, “public sales were abandoned... amid
scenes of chaos,” reported the South China Morning
Post. 72
“Ironically,” the paper went on, “each of the
bags… was wrapped in the kind of plastic bags they
are supposed to replace.” This also illustrates how
companies need to be coherent in how they meet
growing demand for eco-luxury.
Existing values not only manifest themselves in novel
ways given new information, but they also evolve given
new circumstances. As Asia grows technologically,
economically and politically, so being international and
successful no longer implies following western style.
Don Hedley, consumer trends analyst with Euromonitor,
says that, across Asia, “there is now evidence of
national and regional pride shifting the axis away from
Hollywood glamour, New York glitz and European
sophistication, and towards a new belief... in Asian style
and creativity”. 73
The Chinese art market is booming.
However, the indigenous Asian luxury market is still
relatively weak. “Brand-savvy consumers in India and
China are not happy to pay for a premium label
assembled in their own backyard,” reports the fashion
chronicler Monocle. 74
The only way forward for Asian
luxury brands, in both domestic and international
markets, will be to embody innovative social and
environmental excellence. Asian brands John Hendry
and OSISU believe that this includes the provision of
luxurious working conditions to the craftspeople they
employ (see Chapter 7).
Commenting on the future of the Asian market, Michael
Burke, chief executive of Fendi, believes that “as markets
mature, they will become more discriminating” and people
will want more “true luxury” rather than “pseudo luxury”. 75
Anya Hindmarch’s bag
To continue to thrive in maturing new markets, luxury
brands will need to offer deeper luxury, with social and
environmental excellence built in.
Deeper Luxury
20/21
Chris Lee / Hong Kong Digital Vision