China: The Luxury Fashion Industry in the Covid-19 Era

Abstract

The purpose of this thesis is to analyze how the luxury fashion industry is coping with the pandemic in the Chinese market, the main changes that have taken place and the future prospects. It is undeniable that the pandemic has posed challenges to the industry, requiring a timely response, and it is interesting to explore how luxury brands have reacted. To this end, a distinction is made between the pre-pandemic period and the Covid-19 pandemic period. Following a brief overview of the luxury fashion industry in China, the first chapter focuses on the pre-pandemic profile of Chinese consumers, the marketing strategies adopted by luxury brands, and some of the trends characterizing the industry at that stage. In the second chapter the influence of Covid-19 is taken into consideration, looking at the impact on the industry. An analysis is made of the new Chinese luxury consumer, as well as the digital development that has contributed to the growing importance of e-commerce. The extensive use of digital platforms has changed the marketing strategies of several luxury fashion brands present in China, as having an online presence has become fundamental to compete in the market. Finally, the last chapter presents the case study of Moncler, with the aim of examining the challenges encountered due to the pandemic in the Chinese market and the responses adopted.