Consumers check the design and function of high-tech kitchen sinks at a consumer products expo in Shanghai.(Photo/Xinhua)
Foreign firms celebrate the changing face of the fittings and fixtures market in China as both neo-rich and upper middle class Chinese splurge
An entrepreneur hits pay dirt, or makes a small fortune, in China－and among his or her aspirational objects of desire are the latest premium version of iPhone (of course), a top-end BMW, designer jewellery, branded clothes and accessories, and, wait for it, luxury kitchen and bathroom fittings.
That's right.
Demand for products like intelligent toilet, good looking shower head, unusual bathtub, kitchen cabinet and oven is so high among the Chinese neo-rich that Shanghai has joined Frankfurt and Milan in hosting a world-class trade fair for the ultimate bathroom and kitchen fixtures and fittings.
Admittedly, Kitchen & Bath China, the exhibition held in June, is not yet in the league of its more renowned overseas versions, which boast a history of more than half a century. It's nevertheless making the trade fairs fiercely competitive.
And so, the world's leading makers of bathroom and kitchen products converged on Shanghai for the fair. Predictably, they were promptly courted by local distributors and dealers. Hordes of consumers were, of course, not far behind.
Manufacturers spared no effort in making their products stand out from the rest. Each high-end piece was as fascinating as the other.
In the world's second-largest economy, premium bathroom and kitchen products have seen rapid growth. In fact, China is now the world's fastest-growing market for these products. The kitchen segment alone grew 6.8 percent to 58.1 billion yuan ($8.8 billion) in 2015.
"Sales-wise, it's the third biggest worldwide after Germany and the U.S., and we can see China is catching up. Perhaps, China will take second place next year," said Thorsten Klapproth, global chief executive officer, Hansgrohe SE, Germany's bathroom fittings giant.
To make the most of the Big China Opportunity, Hansgrohe, which reported two-digit sales growth in China last year, put on display its top two brands, Hansgrohe and Axor, in Shanghai.
Klapproth drew an analogy to make a point: the two brands, he said, are the Porsche and the BMW of bathroom products.
The company also launched its key new annual series, called Metropol Classic, under its Hansgrohe brand. "The Shanghai exhibition is crucial for us to feel the pulse of the Chinese market. The growth rate here is outperforming that of other markets. We have high expectations from this market. That's why, our key products are making their global debuts here," said Klapproth.
