Month: April 2019

China’s luxury spending sees no sign of cooling down in the coming years, McKinsey & Company stated in a new report released on April 26. It predicted that Chinese shoppers (both at home and abroad) would spend approximately $180 billion (1.2 trillion RMB) on luxury goods by 2025, accounting for 40 percent of the worldwide consumption. The forecast nearly doubled the country’s current spending, which stood at $115 billion in 2018. The global consultancy’s new…

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Who would have thought that Amazon would turn out to be an incubator for Chinese companies? This past winter, an Amazon down winter jacket took US fashionistas by storm. Made by the Chinese fashion label Orolay, this sleek puffy jacket has managed — in one cold short season — to wipe away any stereotypes associated with the stigma of “Made in China.” For one thing, it’s stylish, with a Balenciaga asymmetrical shape. Another it’s also…

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In “Chinese Whispers,” we share the biggest news stories about the luxury industry in China that have yet to make it into the English language. In this week’s edition, we discuss: Baccarat‘s first Chinese brand ambassador,Cross-border e-commerce store Netease Kaola to open offline stores, andChinese beauty trends by Mintel Group. /wp-content/uploads/2019/04/BACCARAT002-B.mp4 1. French crystal brand Baccarat names a Chinese brand ambassador – Baccarat The high-profile French crystal brand Baccarat introduced its first-ever Chinese brand ambassador…

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China’s luxury spending sees no sign of cooling down in the coming years, McKinsey & Company stated in a new report released on April 26. It predicted that Chinese shoppers (both at home and abroad) would spend approximately $180 billion (1.2 trillion RMB) on luxury goods by 2025, accounting for 40 percent of the worldwide consumption. The forecast nearly doubled the country’s current spending, which stood at $115 billion in 2018. The global consultancy’s new…

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Millennials and Generation Z are ushering in the rise of a new data-driven experience economy, and to the luxury sector that traditionally prides itself on offering top-notch goods and services, they must realize that today’s younger customers are looking beyond that. They want to be engaged on an emotional, sensorial, or even intellectual level. In short, they want an unforgettable experience, and often they want those experiences to be personal and exclusive. Therefore, it’s become…

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“We found that Chinese online luxury consumers change even faster than traditional luxury consumers,” says Federica Marchionni, Secoo International CEO and Group CSO, who before joining Secoo, worked at such prestigious brands as Samsung, Dolce and Gabbana, and Ferrari. “To better serve brands and customers, Secoo is strategically shifting its focus to direct collaborations with international brands.” Given this, the Chinese luxury e-commerce platform that was founded in 2008 has released a luxury white paper…

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Visitors to Louis Vuitton’s trunk exhibition in Shanghai may feel overwhelmed by the 1,600 artifacts on display. To navigate the event with ease, the brand designed a WeChat Mini Program to keep visitors’ focused on the art. The Mini Program includes an audio guide, virtual games, selfie spot, instant social sharing, and more. Luxury brands are all about creating dreams, and what’s better than creating a space where consumers can immerse themselves in a brand’s…

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Millennials and Generation Z are ushering in the rise of a new data-driven experience economy, and to the luxury sector that traditionally prides itself on offering top-notch goods and services, they must realize that today’s younger customers are looking beyond that. They want to be engaged on an emotional, sensorial, or even intellectual level. In short, they want an unforgettable experience, and often they want those experiences to be personal and exclusive. Therefore, it’s become…

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At a recent luxury leadership workshop that we organized in Asia with the top management team of an iconic European luxury brand, I asked all participants to share with me in one sentence, what luxury is for them. One executive smiled when she pointed to her Hermès bag. She looked at me and said, “Daniel, I usually do not buy expensive things, but this bag was love at first sight: I saw it, I fell…

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In “Chinese Whispers,” we share the biggest news stories about the luxury industry in China that have yet to make it into the English language. In this week’s edition, we discuss: Cartier‘s upcoming crossover art exhibition with China’s Palace Museum,JD.com’s plan of opening a futuristic store in Chongqing, andLululemon’s first spokesperson in China 1. Cartier’s next art exhibition in China taps into popularity of Palace Museum – Cartier The renowned French jewelry brand Cartier has…

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