Retail opportunities for footwear brands are promising in China.
Although China’s yearly household income is still around USD2,100 overall and USD4,700 in Shanghai, the number of consumers with disposable incomes is growing, and China’s middle class along with it. Shoes often represent an entry point into the luxury market for people with money to spend, according to Peter Harris, president of the Pedder Group.
According to the China Leather Association, more than 3 billion pairs of shoes were sold in China last year. International brands are at the top of China’s high-end footwear retail market. In the past five years, Stuart Weitzman, Giuseppe Zanotti, Christian Louboutin, and Jimmy Choo have all expanded their presence in the country.
(Source: red luxury)