Pablo Gutiérrez-Ravé Villalón
Report: The Evolution of Luxury in Asia
The history of luxury is a story of transformation and adaptation. In the 21st century, the sector has not only redefined itself, but also reshaped the way brands interact with their consumers. Nowhere is this more evident than in Asia, where a new era of luxury is emerging, driven by economic prosperity, demographic shifts and technological advances.
China, Japan, South Korea, India and Southeast Asia are at the centre of this change. In China, the growing middle class and booming consumerism have created a luxury market that is unsurpassed in size and sophistication. In Japan, the country's rich tradition of craftsmanship and aesthetic beauty is being reinterpreted and marketed in new and exciting ways. In South Korea, the global influence of the "Hallyu wave" has opened up new avenues for luxury, particularly in fashion and beauty. In India, an emerging luxury market is being fuelled by a growing middle class and an appetite for global brands. In Southeast Asia, economic growth and increasing urbanisation are giving rise to new opportunities for luxury brands...
Author: Pablo Gutiérrez-Ravé Villalón luxonomy.net