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China moves into luxury goods and machinery, challenging Europe's industrial dominance

Gucci begins manufacturing $1,000 sneakers in China

2 Today · 8h ago · 1 article · 1 post · 2 sources · development 2 of 2

Gucci breaks from its 105-year tradition of Italian craftsmanship by producing luxury sneakers in China, selecting a manufacturer for its "technological know-how" and quality standards rather than cheap labor. The company will continue making other products in Italy.

Gucci begins manufacturing $1,000 sneakers in China
fortune.com

“It's no longer a place where only cheap stuff gets manufactured and poor quality this and that.”

Ker Gibbs, former president of the American Chamber of Commerce in Shanghai

Gucci (Kering) Luxury fashion houseKer Gibbs Former president, American Chamber of Commerce ShanghaiHoward Yu Professor of management, International Institute for Management DevelopmentBrad Setser and Sander Tordoir EconomistsTorsten Slok Chief economist, Apollo Global Management

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What was reported 1 claim about this development

  1. 1 outlet ‘China has arrived’: From $1,000 Gucci sneakers to German cars, China is coming for the industries that made Europe rich

    first by Fortune, 9h ago

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