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  "documentTitle": "A New Generation of Chinese Consumers Reshaping the Luxury Market",
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      "text": "HERMES SHANGHAI",
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      "text": "Today, Millenials are the main Chinese luxury consumers. According to McKinsey insights, 43% of Chinese luxury consumers were born in the 1980s. This generation is accustomed to using social media platforms every day. Douyin or WeChat allows them to share content online. Also, the",
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      "kind": "paragraph",
      "text": "opposition to the changes in ideology. However, Deng Xiaopping started liberalizing the economy in 1978 and in the 1990s, China therefore became one of the best place for foreign companies to relocate, causing a new economic elite to prosper. These wealthy communists have new needs, causing luxury demand to start to increase in the country. Up until now, the amount of Chinese luxury consumers continues to grow. Mr. Abtan, of the BCG, is convinced that the Chinese luxury market will continue to grow due to the “tsunami of the new middle class”.",
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      "text": "The 1990s put China on the agenda of western luxury companies. They understood the potential of the Chinese luxury market. Many Western luxury brands opened their first Chinese store throughout the nineties, for instance Hermès in 1997, Cartier in 1992 and Chanel in 1999. Moreover, it is also during this decade that the private art market started to grow in China. The auction house “Duo Yunwan” was the first of the country in 1992 and some galleries also appeared around this time. The new economic elite had some demands which needed to be fulfilled but many luxury purchases were still made during trips in Europe. Thirty years later, there are many luxury shops and even flagship stores that symbolize the brand DNA.",
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      "text": "Source: Behance – HERMES SHANGHAI By LEVI VAN VELUW",
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