The Asian clothing and apparel sector shows healthy growth projections over a five-year forecast, with an estimated annual average expenditure growth at 9.5%. Despite a slow recovery of the global economy, fashion brands are looking to expand aggressively across Asia. As the income levels and the number of households in the middle class continue to rise, spending and demand for fashion will also continue to increase.
Asia’s luxury goods market is showing signs of slow growth, however, this mid-term adjustment in the market provides an opportunity for the long term as the number of middle class and ultra-rich consumers continue to grow. In Japan, the increase in sales tax has dampened consumer spending. However, the weakening Yen is expected to lure tourists and boost exports. The delay of the second consumption tax hike to 2017 may also help consumer spending in Japan.
Alta Classe HK Limited and Alta Classe KK in Japan are wholly owned subsidiaries of ACG, having local offices in each respective jurisdiction. Alta Classe s.r.l and Alta Classe Korea are joint venture partnerships with strategic stakeholders able to reach a localised target audience. Alta Classe HK has a representative office in Macau.