The general Chinese economy's growth is slowing down, but don't forget, the scale is so big.

6.6% growth last year.

Guess what?

It translates into the total GDP of Australia.

This country is entering a phase of extremely important turning point that the younger generation,

they have seen nothing else but economic growth. And this is a generation that is shaping fashion.

This is a generation that has brought us to where we are now today.

Hi, this is Imran Ahmed founder and CEO of the Business of Fashion. Welcome to the BOF podcast.

This week, we're going back to Shanghai, where we recently held our third annual BOF China Summit.

One gentleman that I've spoken to often on my visits to China is Andrew Wu, who's the group

president for LVMH in Greater China. Andrew's knowledge of the Chinese fashion industry goes

all the way back to 1993 when he returned to China from Canada where he'd been studying and

working for several years. Andrew was able to give us an excellent perspective into the psyche of

consumers in China to understand how this fast-changing market is changing the way consumers are approaching fashion and luxury goods.

So here's Andrew Wu at the BOF China Summit in Shanghai.

So Andrew, we were just having lunch and talking about a little bit about your esteemed career here in China as the group president of LVMH.

But before we get started on your specific expertise, I just thought you should share a little

bit about your connection to Shanghai and China.

You've spent time abroad in Canada, but you came back here in 1993 after having

grown up here. So maybe just tell us a little bit about your personal background.

Well, probably not to waste too much time. I'm here very much for China, for B-O-F, and I'm also

here more as a native of China and specifically a native of Shanghai,

...