Top French luxury brand Louis Vuitton has chosen the southwestern city of Chengdu for its first restaurant in China as purveyors of luxury goods expand their focus beyond the ultra-competitive first-tier cities and put more effort into providing experiences alongside their pricey products. Luxury brands have notably ventured into what some refer to as “new first-tier cities” – a reference to prefecture-level cities with strong commercial activity.
Known for its laid-back culture and hotpot cuisine, Chengdu, the capital of Sichuan province, has a population of more than 21 million. It has emerged as a favourite spot for luxury brands thanks to the strong spending power of its residents. For example, Chengdu’s Gucci store, owned by luxury powerhouse Kering, was Gucci’s highest-revenue store worldwide in 2021, sources told trade journal Fashion Business Daily.
Read More at https://www.scmp.com/business/article/3198265/louis-vuitton-debuts-first-china-restaurant-chengdu-luxury-brands-target-spending-power-lower-tier
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