Gen Z China Leave the world’s luxury brands, Choose KW

Jakarta –

Generation Z in China is starting to abandon the purchase of luxury goods such as Louis Vuitton, Chanel or Prada. Now young people in China are choosing to buy high quality replicas of branded goods, aka imitations (kw goods).

As it was done by a Gen Z guy named Zheng Jiewen, 23 years old. He was a young man working full-time at an advertising agency in the southern city of Guangzhou. He has now reduced his luxury purchases.

This is due to the impact of the economic recession in the country of Bamboo Curtains. Zheng admitted that he used to be a model who used to earn 30,000 yuan ($4,230) a month.

However, starting last year, when a new business began at the company where he was working, his salary was gradually reduced. Beginning in February there was a significant pay cut, reducing his income to just half of his previous salary.

“I was very surprised,” he was quoted as saying CNNTuesday (24/9/2024).

That’s why he started to reduce his expenses to match his new salary. That means no shopping for Louis Vuitton, Chanel, or Prada, which were previously her brands.

Today, he and his friends choose to buy products called “pingti”, high-quality replicas of branded items and KW items.

Some products are almost indistinguishable from the real thing, while others are inspired by original designs and offer more colors or textures.

The growing love of young Chinese for KW products is a problem for the Louis Vuitton brand. It is said that LVMH sales have fallen 10% in the first six months of this year in the Asian region, especially in China.

Analysts also say that selling through social media is no longer a real luxury product, but a simulation.

The director of Mintel, a market research company, Laurel Gu, said that searches on social media for fake goods will triple from 2022 to 2024. In fact, Gu said that 10 years ago the Chinese people were the highest in the world to shop for luxury goods.

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