US compete with Europe for share of luxury goods market in China

Made in the USA products are making a headway ahead of European brands in China. It is more visible in luxury accessories market where style, price and pride go head to head. Famous traditional European brands including Gucci and Louis Vuitton are competing with such US luxury brands including Michael Kors, Coach, Tory Burch and Kate Spade. It is dull versus bright battle for Chinese market share. Chinese market accounts for more than one quarter of luxury brand sales in the world. Recent restrictive regulations regarding luxury brand sales and curb on luxury gifts may impact the luxury goods market in China in the future.

Less costly US brands compared to its European counter parts are attracting more sales with styles, bright colors and more importantly, price. Chinese who are earning more and becoming affluent are choosing more affordable US brands. It is not just in China. Chinese tourists who reach Europe or the USA, shops more of the US made goods compared to European brands. Weaker dollar and less restrictive visa requirements also helps to promote more made in the USA brands. More new stores opening in China are also helping to promote more luxury US brands in China.