The fourth Wenzhou International Luxury Goods Fair has officially kicked off, drawing widespread attention in the city. Among the highlights of this year’s event is Ms. Li Yubing, President of Wenzhou Shuangying Group, who has become a central figure in discussions around luxury consumption and cultural experiences in Wenzhou. From the first edition of the fair to this year’s highly anticipated fourth installment, the event has grown significantly, with major global luxury brands joining forces to showcase their latest collections.
We had the opportunity to speak with Ms. Li Yubing about the evolution of the exhibition and its unique positioning in the Chinese luxury market.
Q: What new features have been introduced this year compared to previous editions?
L: This year's exhibition is more tailored to the evolving tastes of Chinese consumers, especially those in Wenzhou. We've created a unique luxury cultural experience that reflects the local market's preferences. For instance, we’ve included art exhibitions featuring works by renowned artists like Wang Xiaohui, offering a fresh visual experience for photography enthusiasts.
Additionally, we’ve partnered with Jaguar for our VIP shuttle service, providing eight luxury XF sedans to transport guests between the Wenzhou Convention Center and Yongqiang Airport. These innovations are just the beginning—there will be many more surprises on the day of the exhibition.
Q: How does the Wenzhou Luxury Goods Fair stand out from other similar events across China?
L: While many luxury exhibitions have emerged over the years, few have managed to sustain annual operations. Our fair has successfully taken place for four consecutive years, which is quite rare nationwide. The Wenzhou market is particularly strong in private capital, making it a prime location for luxury goods. In recent years, top luxury brands, five-star hotels, and exclusive private clubs have all entered the Wenzhou market. This event has also become a key gathering for the Zhejiang business community.
Q: Given the current economic climate, how has the Wenzhou Luxury Goods Fair managed to continue for four years?
L: The success of the fair lies in its focus on high-end consumers and its commitment to delivering quality experiences. We believe that as the Chinese wealthy class continues to grow, there will always be demand for curated luxury experiences. Our goal is to introduce authentic, culturally rich international brands to Chinese consumers, helping them appreciate the heritage behind each product.
Q: Why did you choose Wenzhou for the luxury show, and do you plan to expand to other cities?
L: Wenzhou is known for its strong private capital and high consumer demand for luxury items. According to statistics, 30% of visitors to major luxury events in China come from Wenzhou. Additionally, Wenzhou has one of the highest concentrations of BMW and Mercedes-Benz vehicles in the country. It makes perfect sense to host such an event here. We’re currently negotiating with the Hunan Chamber of Commerce to bring the event to Changsha next.
Q: What criteria do you use to select participating brands?
L: We focus on luxury brands that align with the tastes of Chinese high-net-worth individuals. We aim for a 100% pure luxury environment, ensuring the quality and reputation of the exhibition. This is not only a commitment to exhibitors but also the foundation of our brand.
Q: Why did you require formal attire this year?
L: This is a new feature that sets this year’s event apart. All attendees are required to dress formally, reflecting the nature of a high-end luxury event. We hope this encourages a shift in fashion etiquette in Wenzhou and elevates the overall atmosphere of the exhibition.
Q: What should the public look out for this year?
L: I encourage visitors to pay attention to the history and culture behind each brand. Luxury is not just about material value—it’s about heritage, craftsmanship, and storytelling. We want people to experience the true essence of luxury beyond just the surface.
Q: What are your expectations for this year’s turnout and sales?
L: Over the past three days, we’ve seen hundreds of millions in sales, including items like Hetian jade, Aurora diamond pens, Italian yachts, and Dokdo villas. With over 60 luxury brands participating, we expect around 30,000 visitors this year. The quality of attendees is higher than ever, and we anticipate even stronger spending power.
Q: How do you think the fair will impact the lifestyle of Wenzhou residents?
L: This is exactly the mission of the fair—to guide the wealthy toward a more refined and meaningful way of living. Many Wenzhou residents have accumulated wealth quickly but may not yet fully understand how to enjoy a high-quality life. Through this event, we aim to help them appreciate the value of culture, heritage, and sophistication.
Q: How do you define luxury?
L: Luxury is not just about expensive items. It’s about scarcity, exclusivity, and serving a specific group of people. However, many in China equate luxury with materialism. True luxury can be something as simple as a meal for someone hungry or peace during war. Ultimately, time is the most precious form of luxury—something we all need to cherish.
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