While China is well on its way to becoming the largest luxury market in the world, a number of home-grown companies are ambitious to make their own names known in an arena long dominated by foreign brands.
On a December afternoon at the headquarters of Beijing Aimer Lingerie Company, one of China's largest lingerie makers, Li Cong and a couple of sales staff are checking the latest collections of bras, knickers and nighties displayed in the company's showroom.
Li is the brand manager for La Clover, the high-end arm launched by Aimer five years ago. Gently picking up a red silk bra, Li said the lace used was imported from Europe and worth more than 1,000 yuan a metre (HK$1,217). The bra has a price tag of 1,880 yuan and the matching knickers are priced at 820 yuan.
'Our products are by no means inferior to top European brands in terms of fabric and sewing details,' Li said with confidence. The company's website describes La Clover as a luxurious, sexy and exclusive brand that mainly targets successful businesswomen, white collar professionals and rich socialites.
'We are determined to build it into a world-class luxury brand from China. All we need is time,' said Li. While a new generation of home-grown luxury brands has been on the rise in China, influential brands remain scarce. Chinese brands are trying to attract Chinese consumers away from their single-minded pursuit of foreign luxury brands, such as Louis Vuitton and Gucci.
'If the next decade is a golden era for international luxury brands in China, it would be a 'double golden era' for those local brands,' said Li Yifei, former chairwoman of China at Vivaki, a French communications and advertising conglomerate, which has provided its services to several Chinese luxury brands.