Brunello Cucinelli and Old Money Fashion Thrive as China's Economy Struggles
Old Money Fashion on the Rise
Brunello Cucinelli, noted for its old money aesthetics, has raised its sales growth projections in China to 12%. Ralph Lauren followed closely with a 13% increase in the same market.
Consumer Trends
As discussions about the 'old money' style gain traction on social media platforms like Douyin and Xiaohongshu, consumers are increasingly favoring quality and simplicity. This trend is reflected in retail sales, which have seen a decline in major cities like Beijing and Shanghai.
- Growing Sales: Brunello Cucinelli projects a 12% increase in sales in China.
- Market Preferences: Consumers gravitate towards minimalist aesthetics amid economic constraints.
- Spending Behavior: 149 trillion yuan (US$20.4 trillion) is recorded in bank deposits as households save more.
The Economic Landscape
Despite the appeal of old money fashion, the state of the economy reveals households are tightening their belts. While the wealthy demographic sees a decline, nostalgia drives interest in classic styles.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.