An independent source on Chinese and Western brands in and outside China
While most major luxury groups across all sectors are currently experiencing a decline in sales in the Chinese market, the perfume market is expected to grow by around 14%, reaching EUR 5.8 billion by 2028, according to US consulting firm Frost & Sullivan. Another feature of the Chinese perfume market is a less than 5% penetration rate and a growing number of enthusiasts among Generation Z (19-24-year-olds).
Will the new-energy vehicle startup Li Auto follow the global path to success of its fellow Chinese electric vehicle company BYD, as some automotive industry experts believe? It would be good news for the composite materials industry, as Li Auto gives it a prominent place among the lightweight technologies it focuses on.
