Joann Cheng, chairwoman of Lanvin parent company Fosun Fashion explains the growing importance of China’s second and third-tier cities. Already 60% of China’s consumption comes from outside first-tier cities, and brands like H&M, Zara and Uniqlo are opening stores; Gucci, Louis Vuitton and Chanel are expected to follow suit.
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ABOUT THE BUSINESS OF FASHION: The Business of Fashion is a next-generation fashion media company conceived for today’s global and hyper-connected world. Founded in 2007 by Imran Amed, BoF is known for its authoritative, agenda-setting point of view on the global fashion industry, and is an indispensable resource for fashion executives, creatives, students, and entrepreneurs in over 200 countries. It has been described as “The Economist of Fashion,” “A Daily Destination for Fashion’s Power Players”, and “The Industry Bible”, www.businessoffashion.com
