A number of reports are suggesting that the Lang Lang effect is wearing off among the Chinese middle-classes.
New piano sales in China are thought to be down to half of the peak 400,000 and the resale value has plummetted.
An upright piano bought at 50,000 RMB fetches less than one-tenth of the purchase price in online sales sites.
The China Musical Instrument Association reports a 22 percent fall in ioperating income for the first three quarters of 2023, with profits down 43.35%.
Lang Lang, no longer a poster boy, is now middle-aged and married, an overpaid ‘ambassador’ for brands few Chinese citizens can afford.
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