第一财经

From LV "Louis" to traditional gold shops, Chinese fashion is redefining the rules.

原文:从LV“路易号”到老铺黄金,中国时尚正在改写规则

Summary of Key Points

In the past few years, Chinese fashion has gained popularity through occasional hits (such as new Chinese styles and domestic brands), but now it needs to shift from being "lively" to being "sustainable"—by establishing an industrial system that transforms Chinese aesthetics into tangible productivity. By 2026, Chinese fashion will enter a phase of building its industrial capabilities: the scope of fashion will expand beyond clothing and jewelry to include everyday scenarios (such as tea culture, street districts, and experiential events). Chinese aesthetics will no longer be mere superficial symbols; instead, they will become industrial methods that can be integrated into products, pricing strategies, and services. The logic of attracting customers will shift from "store promotions" to "content-driven attractions" (such as the LV cruise ship and creative markets). The focus on going global will also evolve from simply selling products to involving foreigners in Chinese daily life. The ultimate goal is to create a closed-loop system that connects cultural resources with global dissemination, making aesthetics a fundamental pillar for high-quality development.

1. Fashion is More Than Just Clothing and Bags

In the past, when people thought of fashion, they imagined clothes, jewelry, and fashion shows. But now things have changed—a cup of traditional Chinese tea (like new-style milk tea) can become part of young people's daily fashion. Street districts in Shanghai, such as Julu Road, Fumin Road, and Changle Road, have become fashionable spots for foreign tourists to visit. Technological advancements like AI skin analysis and virtual try-on services have also become new tools in the fashion industry. In short, fashion has permeated every aspect of life; it is no longer something exclusive to a few elites but something that ordinary people can enjoy and participate in.

2. Chinese Aesthetics Are Not Just Labels, But a Profitable Asset

Previously, when people mentioned Chinese aesthetics, they thought of decorative elements like buttoned garments, embroidery, and dragon-and-feng patterns. Now, these have become practical industrial methods. For example, the LESS brand, which does not use traditional Chinese symbols but instead adopts minimalist designs that meet contemporary commuting needs, still saw a 16.3% increase in sales during a tough market period. The old-fashioned brand Golden has gone even further by transforming gold from being sold by weight into an experience-based product, with higher profits per store than LV and Gucci, thus redefining the role of Chinese brands in the luxury industry. This shows that Chinese aesthetics are not just for show; they are core capabilities that can make products more expensive and popular.

3. Shopping Malls No Longer Rely on Discounts to Attract Customers

In the past, malls used discounts and promotions to attract customers. But this strategy is no longer effective—only 6.3% of people visit malls specifically for regular promotions, while 48% are drawn to non-traditional commercial spaces (such as those that combine historical districts with fashion elements), and 35% prefer to visit trend-setting flagship stores and creative markets. For instance, the LV cruise ship in Shanghai is not just a place to buy bags; it offers opportunities for photos, exhibitions, and brand experiences. Chanel has transformed its stores into museum-like exhibition spaces. The key issue for malls is no longer about which brands they can attract but whether they can provide a reason for customers to visit specifically.

4. Chinese Brands Going Global Focus on Engaging Foreigners in Our Everyday Life

In the past, Chinese brands went global by offering affordable and high-quality products. Now, things have changed—foreign tourists in Shanghai's fashionable districts wear Chinese-branded shoes, drink Chinese coffee, and buy Chinese fragrances. The overseas revenue of Poppmart has nearly tripled in a year because its IP (such as Hirono) resonates with foreign young people through cross-cultural themes like loneliness and rebellion. The strongest form of cultural exchange is not about showing off grand symbols but about making foreigners want to adopt our daily habits: wearing our clothes, drinking our tea, visiting our streets, and even participating in creative activities.

5. From Occasional Hits to Systematic Capabilities: Building a Closed-Loop System for Chinese Fashion

Chinese fashion no longer needs to prove its popularity; what is needed is sustained success. The goal is to establish a system that continuously generates new aesthetics and brands. This system includes five key capabilities:

1. Aesthetic Translation: Transforming Chinese aesthetics into designs that appeal to contemporary consumers (such as LESS's minimalist cuts).

2. Supply Innovation: Turning aesthetic preferences into sustainable products (such as Golden’s culturally inspired gold jewelry).

3. Scenario Organization: Converting consumer interest into offline traffic (such as the LV cruise ship event).

4. Brand Storytelling: Creating products with cultural significance (such as Poppmart’s IP).

5. Global Expression: Enabling global participation in Chinese daily life (such as the Julu Road district).

When these capabilities are integrated, aesthetics will no longer be just a form of packaging but a productive force that can generate profits and compete on a global scale, ultimately becoming a cultural foundation for China's high-quality development.