Chinese ‘lipstick king’ Li Jiaqi’s dogs getting signed to an agency shows something Xiaomi, Versace and Burberry already know: China’s pet economy is booming – and luxury must get on board

Jan 10 , 2021

China’s dog owners are increasingly likely to spend money on special gifts and products for their pets. Photo: Tod's

Had you been present at the Shanghai Creative Expo earlier this month, you would have seen Chinese live-streamer Li Jiaqi’s five pet dogs living their best lives.

First seen by fans in Li’s live-streaming sessions, the five bichon frises recently became the intellectual property of Meione, the same agency representing Li. Their collective brand, called Never’s Family, debuted in October 2020 and, during the trade show, were enlisted to help showcase brand collaborations from LVMH skincare brand Fresh, suitcase-maker Rimowa and Chinese underwear start-up Bananain.

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Moncler x Poldo Dog Couture collection Photo: Moncler

Sound preposterous? Don’t be so quick to judge. Not only have celebrity dogs like Never’s Family helped broaden the reach of fashion and cosmetics brands in China, but the pet economy has seen a recent influx of capital via the country’s pet lifestyle start-ups.

In mid-December, the pet lifestyle brand Vetreska closed its B-series funding at US$20 million. The company, which was founded in 2017, has many viral products, including suitcase-shaped pet carriers and cat trees that resemble cactuses. The investment arm of the Chinese tech company Xiaomi also bet on two pet lifestyle brands – Kittens & Puppies and Furry Tail in late 2019 – as part of their smart home strategy.

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In the pet lifestyle arena, some luxury brands have already seen a booming demand from their customers. Examples include the Moncler x Poldo Dog Couture collection from the autumn of 2020, and Canadian e-tailer Ssense’s dogwear collaborations with Burberry, Versace and Paul Smith in 2019.

But why should luxury go any further than stylish pet collars and clothes in China? Firstly, China’s pet economy is on a high-growth trajectory. In 2019, the market research company Euromonitor International predicted China’s pet market would grow at an average rate of 18.2 per cent a year over the next five years. The pet-oriented social networking site Goumin.com suggests this consumption is mostly being driven by single, urban customers.

Although China’s nascent pet lifestyle brands do not directly compete with luxury dog collections, the former’s fun marketing and product messages have set high expectations for Chinese consumers. That means they might want more than just the basics for their four-legged friends.

This article originally appeared on Jing Daily.

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Luxury in China

Xiaomi invested in two pet lifestyle brands in 2019, Moncler showcased its ‘dog couture’ collection at the end of last year, and now LVMH is employing the dogs of Chinese influencers to showcase its brand