How Brands Market for Lunar New Year
As the Year of the Rabbit approaches this January 22nd, it is important to know what Lunar New Year is and how important it is for brands. Preparations for the New Year start promptly on the 14th until the 22nd. The celebrations for Lunar New Year lasts for 16 days with the first 11 days being the Spring Festival and the last 4 being the Lantern Festival. The first 7 days are considered a public holiday in China, so Chinese people receive a week off from work and most non essential stores are closed. The date of the Lunar New Year vary from year to year with a new animal or Chinese zodiac sign as representatives of the year. For instance, last year was the Year of the Tiger.
Courtesy of History
Lunar New Year heavily impacts the fashion and beauty industries. Asia is a growing market for luxury brands to reach and market to. China, in particular, is a key international market for brands to look at in the future with Bain and Company citing that it will make up to 40% of luxury consumers by 2030. Bain and Co’s Senior partner and Leader in Fashion and Luxury; Federica Levato stated, “China (and Chinese) are a fundamental growth driver in the long-term. The lower incidence forecasted in 2030 versus figures in 2025 has to be found in the unleashing of additional pockets of growth related to mature and emerging markets, and not a slowdown of China and Chinese, which are expected to continue their strong growth trajectory.” This may pose a challenge to achieve because China is still currently experiencing COVID - 19 lockdowns and restrictions. Still, brands are continuing to work with or around these restrictions in order to appeal to the Chinese market. Lunar New Year is an opportunity for brands to reach various Asian international markets with products that cater more to their culture and celebrations.
Courtesy of Tatler Asia
Many fashion brands release exclusive collections and memorabilia to celebrate the Lunar New Year. This year these collections were donned in red and covered with various variations of the rabbit symbol. Louis Vuitton released their capsule collection of accessories including a rabbit cup and box. Gucci launched their capsule collection with lots of color and ready-to-wear clothing and accessories with rabbits printed or woven onto the items. Valentino launched their campaign which featured their very own brand ambassador and Chinese actress Sun Li with her sister, actress Sun Yan. The campaign features red clothing and accessories to match with Valentino's signature logo motifs.
Sun Li (Left) with her sister Sun Yan (Right) Courtesy of Hypebae
In addition, beauty brands also launch makeup collections for the Lunar New Year festivities. Luxury brand Dior launched a makeup set that has five lip products, including 4 refillable lipsticks and 1 refillable lip balm. The lip set comes in a reusable decorative red box designed by Italian artist Pietro Ruffo. Makeup brand Pat Mcgrath created a Lunar New Year Collection filled with red packaging snd rabbit and flower motifs. The collection features the Vixen Palette, a matte lipstick and a blurring powder. Lastly, makeup brand MAC launched their own collection with an eye shadow palette, highlighters, a mascara, lipsticks, blush and a setting spray.
Courtesy of The Glossary Magazine
Lunar New Year is a great opportunity for brands to reach different markets and learn about aspects of different cultures for marketing. Many brands create exclusive collections for the Lunar New Year because they know the marketing appeal of Asia and its benefits. The influx of the Lunar New Year collections can increase brand appeal and customer loyalty especially if they do exclusive collections every year for consumers to look forward to. The festivities begin on January 22nd as they ring in the Year of the Rabbit. Click here for more information about the Lunar New Year celebration this year.
