We are excited to officially launch our new business, Verb China. The Verb Brands Group has been working on the development of Verb China for a few years now and through consulting our clients on how to attract the Chinese consumer, we have built a team to do just that. We are incredibly proud to formally launch it as a separate business and offering. We have partnered with a few specific brands that we will announce soon and are proud and honoured to have been selected to lead their efforts in expanding into the Chinese market.
The emerging luxury markets, specifically China, are disrupting the state of the luxury industry. By 2024, the Asian luxury goods market will grow at a compounded 6% each year through to 2024, showing an overall growth of 55% in 5 years. This means that Chinese consumers alone will contribute to 40% of the global luxury goods market by then.
With such potential, and noticeable growth in this market segment, brands are demanding expertise on how to establish their brands, safely, in China. We couldn’t be more proud to launch our new service line, Verb China, that is designed solely to help luxury brands navigate this challenge successfully.
Our services include a full range of digital marketing services including monthly management from key social channels such as WeChat, Weibo and RED as well as search strategy and management on Baidu and Sogou. Our bilingual team of experts have years of experience in the Chinese market and a deep understanding of the world of luxury, providing our clients with the best combination of digital expertise in the luxury world.