Category Archives: Economy

Brands need to keep up with changes in China’s luxury consumption patterns

Consumption at high end enters aphase driven by socio-economic shifts and rise of a new elite Nespresso is giving back to coffee its luxury cachet. Walk into a Nespresso boutique and you might be greeted by a picture of actor … Continue reading

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LUXURY BRANDS IGNORING ‘HUGE UNMET DEMAND’ FOR E-COMMERCE IN CHINA

While many luxury brands in China have been hesitant about diving headlong into the country’s e-commerce market due to concerns over infrastructure, quality, and distribution issues, a new report argues that companies who aren’t getting into the market now are missing … Continue reading

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Kering Introduces Executive Talent Program in China

Finding talent remains a top priority for luxury companies, especially given the severe talent shortage in China. Luxury conglomerate Kering, a big advocate of talent development, has decided to launch its own executive training program in China to ensure it … Continue reading

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California Malls Woo Shoppers from China’s Lower-Tier Cities

Shopping malls in southern California are going to great lengths to accommodate an important new clientele: tourists from China. According to the Los Angeles Tourism and Convention Board, Los Angeles had 570,000 Chinese visitors last year — double the number … Continue reading

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Luxury Brands Are Stupid to Snub the Internet

Photograph by David Brandon Geeting for Bloomberg Businessweek Imagine, if you can, the following Champagne tragedy: You’re wealthy and stylish and have decided to buy a handbag after a tough day at the office. You pour yourself a glass of … Continue reading

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Chinese tourists buying luxury watches show the way for exporters

By Robin Swithinbank ©AFP Priced out: exports of Swiss watches to mainland China have fallen on the back of high rates of consumption tax and import duties Talk of a slowdown in Chinese luxury consumption has been well documented. On the face … Continue reading

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China’s Super Rich to Rise By 80% in Next Decade

According to a report by Knight Frank LLP, the number of Chinese super-wealthy, those who own more than US$30 million in assets (excluding their main residence), will grow by 80 percent over the next decade , Global Times reports. China will have … Continue reading

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The global retail store is dead, claims BCG

Prada space at Dover Street Market New York NEW YORK – New York and Milan were among the global cities ranked as “understored,” meaning that there there are too few stores to meet consumer demand, while Beijing, Bangkok and Chengdu, … Continue reading

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2014: THE YEAR OF INDIVIDUALISM FOR CHINA’S LUXURY CONSUMERS

A street style shot of model Fei Fei Sun taken for Vogue at Paris Fashion Week in September 2013. (Vogue) With the Chinese government’s anti-corruption campaign in high gear and a global shift away from logos, 2013 was all about “stealth wealth.” … Continue reading

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HARRODS’ CHRISTMAS WEIBO CAMPAIGN ENGAGES LONDON’S CHINESE TOURIST INFLUX

  For Harrods’ new Sina Weibo campaign, fans must find presents hidden by the retailer’s iconic “Green Men” in the store and upload photos for the chance to win. (Harrods) As London sees a huge influx of Chinese visitor spending thanks to efforts … Continue reading

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