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A $22,000 bag and a $7,500 watch: Can China’s home-grown luxury take off?
Beyond mass market products by Shein, BYD and Pop Mart, having a successful luxury brand could mark China’s cultural ascent.
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Chinese spenders have, in the last decade, accounted for as much as a third of global luxury sales.
PHOTO: REUTERS
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At a high-end mall in Beijing’s Wangfujing shopping street, where more than 30 shops sell luxury products from watches to jewellery on the first floor, only one has Chinese roots.
Qeelin is a fine jewellery brand co-founded in 2004 by Hong Kong designer Dennis Chan and owned by French luxury conglomerate Kering, whose best-selling line features the Chinese gourd, a symbol of health and prosperity.
