China: luxury leathergoods meet 100,000 visitors at first CICPE
Haikou, the capital of China’s Hainan province, witnessed around 650 international companies exhibit more than 1,300 brands to an estimated 100,000 visitors (reportedly including 50,000 buyers) during the first China International Consumer Products Expo (CICPE), which took place at Hainan International Convention and Exhibition Center between May 7-10, 2021.
On the evening of the expo’s opening, China’s livestream shopping “queen”, Viya, broadcast live to her Taobao audience from the No. 5 exhibition hall.
Luxury groups LVMH, Kering, Richemont and Tapestry all exhibited during the four-day event, in addition to smaller luxury houses Delvaux and Etro.
“We and other global brands enjoy the benefits brought by rising domestic consumption due to Chinese consumers facing travel restrictions during the pandemic,” the general manager of Etro China, Umberto Temporini, told the Global Times.
“What’s more, the Chinese government is actively encouraging domestic consumption in many ways and this expo is a vivid example of the synergy between domestic and international markets,” Mr Temporini added.
Etro reportedly posted a 12% year-on-year revenue increase in the China market last year.
Tapestry’s Coach brand was another exhibitor, with the company’s director of corporate communications for Greater China, Peddy Wang, also telling the Beijing-based publication: “For us, China is definitely in the leading position and we are optimistic about the consumption market thanks to national policy support, which has stimulated consumers’ pursuit of high-quality lifestyle goods.”
Coach plans to open at least 30 new stores in China within the year, Ms Wang said, including in non-first-tier cities such as Wuhan (Hubei province) and Changsha (Hunan).
Visitors eye an exhibit of Delvaux handbags. Image: Global Times. Credit: Zhang Hongpei
