-- Foreign brands such as Shiseido (TYO:4911) and Lululemon Athletica are finding growth in China by focusing on premium products despite weak consumer spending, Nikkei reported Tuesday.
At the China International Consumer Products Expo, companies highlighted high-end offerings, betting on resilient demand in the luxury segment even as overall consumption slows, according to the report.
Brands like Procter & Gamble are also pushing upscale lines, while China's luxury market has contracted in recent years amid economic pressures, the report said.
Still, rising interest in fitness and outdoor activities is boosting select players, even as foreign firms face tougher competition from improving local brands, according to the report.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)