China Luxury News: Little Emperors and Chinese Tourists

China Luxury News: Little Emperors and Chinese Tourists

Summary: Opportunity in luxury goods for China’s little emperors . Chinese love luxury cars. How the Chinese tourist is changing the luxury landscape in Europe. LVMH going after Chinese counterfeiters. Wine tourism becoming popular with Chinese. Armani looking at China’s middle class. Luxury sector slowing in China? 

Chinese Spending More On Luxury Goods For “Little Emperors”

Kids’ collections by major luxury brands are far from new in China, but according to a new survey, a rising percentage of wealthier Chinese are spending more on swathing their “little emperors” in high-end items. Though the definition of “luxury goods” in the study is fairly broad, encompassing everything from toys to clothing, a trend has become clear in recent years as offshoots of “grown-up” luxury brands like Gucci Kids, Burberry Children, Baby Dior and Armani Junior have expanded in China’s major cities. Full story at Jing Daily

Armani Tailors Business to China’s Middle Class

BEIJING—After long catering to China’s richest shoppers, Giorgio Armani SpA is looking to the country’s middle class to help carry the fashion house through potentially slowing growth in the luxury sector. Closely held Armani plans in the next three years to open 80 to 100 stores in China’s mainland, adding to the Italian company’s current 289 and pushing further into China’s smaller cities, said Fabio Mancone, director of licensing and communications. Full story at the WSJ

Chinese buyers crave luxury cars

Americans unfamiliar with the Chinese auto industry may hold a common perception that most Chinese consumers are moving from bicycles to cheap small cars.But the potential for growth and profit is in luxury vehicles and SUVs loaded with as much technology as possible. Full story at USA Today

Tourist buyers pose sales conundrum

There will probably be few at the 2012 FT Business of Luxury Summit. in Marrakech, Morocco, this week who do not recognise the importance of Chinese tourists to their industry. Analysts and luxury goods executives widely agree that Asian consumers accounted for half of the sales of luxury goods made in Europe last year. Full article at FT

LVMH Wins Order to Block Knockoff Imports in U.S.

LVMH Moet Hennessy Louis Vuitton SA, expanding its fight against counterfeiters beyond courts, won a U.S. trade ruling that will help it keep knockoff Louis Vuitton handbags, luggage and accessories from entering the U.S. Full article at Businessweek.

Malaysian Retailer Parkson Launches Luxury E-Commerce Site in China

Malaysia’s high-end department store chain Parkson (HKG:3368) has made a move into the luxury e-commerce market in China with the launch this week of its premium clothing, make-up, and home furnishings site at Parkson.com.cn. The retailer already has 47 stores [1] in some major Chinese cities, the first of which opened way back in 1994. Full article at TechinAsia

Wine tourism a growing attraction for China’s travellers

Inside the city’s massive Convention and Exhibition Centre there might be 1,000 exhibitors from 28 countries here for the three-day event, but most of the talk is about how to get into China and what is coming out of China.

And that includes the country’s rapidly growing band of cashed-up wine-lovers. Read full article here.

High-end luxury looks exposed as China slows

The cancellation of Graff Diamonds’ $1 billion Hong Kong initial public offering is the latest sign that high-end luxury goods companies are losing their shine. Hong Kong’s formerly bubbling art and property markets are cooling as mainland Chinese money ebbs. Tightening credit at home has played a role, and China’s political cycle may be another cause. Full article at Reuters
photo: Alex Hofford/Epa

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