Gucci, Adidas ‘sun umbrella’ to be sold for US$1,600
An umbrella set by top western brands Gucci and Adidas is set to go on sale in China in June for US $1,600 or 11,100 yuan.
According to a report by the BBC, the item dubbed a “sun umbrella” has gone viral on Chinese social media platform Weibo as Gucci’s website announced that it is “not waterproof and is meant for sun protection or decorative use”.
The “sun umbrella” is part of a joint collection that is being promoted online ahead of its release on June 7 as part of a new collection by Gucci and sportswear giant Adidas.
China is a key market for leading luxury brands. Last year, sales of luxury goods rose by 36 per cent in the world’s second largest economy, according to consultancy Bain & Company.
Bain also predicted that China will become the biggest luxury goods market within the next three years.