Dior and Valentino Tokyo catwalk show why Japan has become a luxury land?

The biggest Italian flagship store of the Italian luxury brand Bottega Veneta will open in Tokyo Ginza on December 8. According to the Fashion Media Fashion Network, the “super store” has 6 floors and a sales area of ​​800 square meters. The brand's men's and women's full line series can be bought at this store.

“Our Japanese customers are very important and loyal to the brand, and Japan is one of the most important markets in the world for Bottega Veneta,” said Claus-Dietrich Lahrs, general manager of Bottega Veneta.

In addition to Bottega Veneta, there are a lot of luxury brands in Japan recently. Italian luxury brand Valentino held the brand 2019 early autumn show on November 27th in Tokyo, Japan. This is the first time Valentino has held a men's and women's show. On November 30th, Dior also held a big show in Tokyo. The show was dotted with cherry blossoms, and the costume tailoring also took inspiration from Japanese uniforms.

Why do luxury brands re-elect the Japanese market?

To answer this question, we must first trace the luxury brand and the Japanese market's love period from the end of the 1970s. In the 1960s and 1970s, the Japanese economy quickly took off and gave birth to a large emerging middle class, and luxury goods became a symbol of their wealth. In 1978, Louis Vuitton's Tokyo store opened in six department stores, selling $5.8 million in goods within a year, and doubled its turnover to $11 million in two years, shaking the entire luxury industry.

At that time, the Japanese also loved to go to Hawaii for shopping. For this reason, Chanel opened the first independent store in the United States in Hawaii in 1984. At the time, Chanel's Hawaiian vice chairman Joyce Okana also said that half of Hawaii's Chanel products were The Japanese bought it. Throughout the 1990s, Chanel's specialty stores in Hawaii were the world's No. 1 sellers, and Japanese customers contributed.

That is also the era of the third consumption that Japanese writer San Puzhan said, that is, the era in which Japanese people pursued famous brands and refined lifestyles. Since the mid-1990s, the Japanese economy has entered a long period of recession. The Great Hanshin Earthquake in 1995 also made the Japanese feel the volatility of the consumer society. People began to pay attention to the relationship between people. In the early 2000s, Japan slowly entered the fourth era of consumption mentioned by Sanpu Exhibition. People began to pursue simple brands and pursue simplicity.

When Japanese consumers’ enthusiasm for luxury goods weakens, the Chinese economy is developing rapidly, and luxury brands are turning to the Chinese market. In 2007, Italian luxury brand Fendi held a big show in the Great Wall tonight, and then Beijing ushered in the 2008 Olympic Games. China has gradually become the world's fastest growing market for luxury goods. According to a report by the Boston Consulting Group, Chinese consumers accounted for one-third of the global luxury market in 2017.

However, the situation has changed in the past two years. This month, Valentino and Dior held important big shows in Tokyo. The luxury brands that focus on the Chinese market have once again turned their attention to Japan.

It is not difficult to understand that Japanese consumers have become active as the Japanese economy has been optimistic in the past two years. When many of the world's luxury brands did not perform well in wholesale channels, the luxury goods of Japanese department stores still sold very well. According to the latest report released by Royal Bank of Canada, Japan's consumption power in the global luxury market in 2017 should not be underestimated. Japan's Prada sales are equivalent to the entire North American market. In addition, Japan's purchasing power for Tod's Group and Moncler Group's brands exceeds. North America.

In addition, Japan's deep foundation and potential in the fashion industry, especially men's wear, are also valued by luxury brands. Akiko Shinoda, Director of International Affairs of Japan Fashion Week, said in an interview with BoF Fashion Business Review that Japanese men's fashion practitioners have taken their own styles from European-style suits and casual American jeans, and combined them into Japanese street culture to develop A unique, high-quality men's fashion circle.

“Young consumers are increasingly demanding casual and fashionable menswear, especially in Asia,” said Mario Ortelli, managing partner of consulting firm Ortelli & Co.. “So high-end fashion brands see Asia as a huge opportunity for men’s wear, plus Big marketing efforts are not surprising."

Of course, Japan’s favor with luxury brands is also related to Chinese tourists. Royal Bank of Canada luxury goods analyst Rogerio Fujimori told the interface reporter that another reason for the renewed strength of the Japanese luxury goods market is the sharp increase in tourist spending, with tourists from China accounting for a large proportion.

According to the National Tourism Administration of Japan, nearly half of Japan’s overseas visitors came from Greater China, including the mainland, Hong Kong and Taiwan, in September this year, and they brought three times more consumption than tourists from Other countries.

In addition, with Japan entering the fourth era of consumption mentioned in the Miura exhibition, more and more minimalists have emerged, and the aesthetics of “subtraction” has become popular. Although people no longer pay much attention to brands, they have higher requirements for culture and personality. Luxury brands that are good at storytelling can just give play to their advantages in Japan.

Another characteristic of the fourth era of consumption is that people pay more and more attention to local characteristics, which means that Japanese people pay more and more attention to the history and culture of Japan. Despite this, Fujimori told the interface reporter that luxury brands need to be globally consistent, because luxury consumers often travel around the world, so it is important to focus on the needs of local consumers, but it is more important to maintain consistency in different markets.

In this way, perhaps one problem that luxury brands need to solve in the Japanese market is how to strike a balance between Japanese culture and global consistency.