From social media to self-gifting, here’s how luxury brands cleverly connect with affluent Asian millennials
With nearly 60 per cent of the world’s millennials living in China, Hong Kong, Singapore, Japan, South Korea and India, top brands like Chanel, Christian Dior and Louis Vuitton are wooing them with unique marketing campaigns
Once known to be part exclusivity, part status and part high price, the definition of luxury continues to evolve and its currency is shaped by new markers in the form of authenticity, access, expertise and experience.
But the luxury tide is moving east, too.
Feeling the freedom to express themselves, Asian millennials are increasingly showing an affinity for customisation and they look to luxury brands to hunt down the latest “make it mine” items
Nearly 60 per cent of the world’s millennials live in Asia, said Agility Research, whose 2019 Affluent Insights™ millennials Regional Report took a deep dive into millennials across China, Hong Kong, Singapore, Japan, South Korea and India. Not only do these affluent millennials have a positive outlook on their future, having grown up during a period of sustained economic growth, many are optimistic about their finances and spending on luxury, making them prime targets for luxury brands.
It perhaps explains why Chanel took a roadshow approach with two of their most iconic pop-ups in Asia last year, Coco Game Center and Le Rouge, making stops in cities like Hong Kong, Singapore and Seoul. The French luxury house has taken note that having access is key to today’s young Asian luxury consumers and this goes beyond bricks-and-mortar shops.
In early July, the brand announced plans to expand its online presence in China, launching an official store on Tmall’s Luxury Pavilion in September. The move marks the first time Chanel has worked with a third party e-commerce operator in China.
While extending reach is clearly paying off for some luxury brands, others are galvanising their presence through true personalisation. Feeling the freedom to express themselves, Asian millennials are increasingly showing an affinity for customisation and they look to luxury brands to hunt down the latest “make it mine” items.
It’s no wonder, then, that Christian Dior’s ABCDior, a personalisation and made-to-measure service most commonly seen on the Paris brand’s iconic Book Tote sported by major social media influencers, made its debut in Asia ahead of other global locations with pop-ups in Hong Kong and Singapore.
