China has a fashion market which is full of opportunities.
The Chinese fashion industry is set to become the world’s second largest fashion market by 2020 and will account for an estimated 30% of the global fashion market’s growth over the next five years.
It makes a major contribution to the Chinese economy and the fashion market is a US$90 billion industry. The annual growth rate of fashion & textile industry was 12.5% in 2007 and as the foremost city in Asia, Shanghai acts as an international hub for trade, finance, transport, and fashion. It is the reigning fashion capital of Asia, ranking 10th worldwide, above both Tokyo and Hong Kong [Mode Shanghai 2010].
Shanghai’s contemporary fashion design and our impressions of its Fashion Week
With more and more young designers and models, Shanghai Fashion Week was originally aiming to build up an international professional platform, to attract top design talents from all over the world. It is held twice every year in Shanghai, one in April and one in October. Shanghai Fashion Week also serves as a platform for designers that are aiming at the Chinese market and it acts as an indirect sales channel since it attracts many buyers during the event. The iQubator team attended some of the shows during this past season of SHFW and there were some really unique and breath-taking designs.
However, different from the Fashion Weeks held in Europe, it seems that Shanghai Fashion Week is more focused on Chinese designers. While these Chinese designers get to showcase their new collections and shine under the spotlight, there are many foreign designers based in China that are hoping to bring a flare of the exotic flavour to the local fashion scene.