Summary: Juicy Couture opens Beijing flagship store. 360Buy launches luxury e-commerce site: Toplife.com. Chinese Spend More Money On Luxury Goods Than Europe And The U.S. Combined. Chinese authorities clamp down on foreign businesses such as Wal-Mart and Carrefour. Geoffrey Kent interviewed on travel habits of high net worth Chinese travelers. New York Observer launches Chinese language magazine YUE. China’s second tier cities hungry for luxury brands. China’s millionaires seeking to move overseas.
Read More »
Hilton Hotels and Resorts recently sponsored a research study by University of London on how the rise of Chinese tourists will change the European travel industry. It provides a solid look at the rise of Chinese tourism as well as some tactical recommendations to brands on how to attract, serve and retain these emerging consumers.
It’s also a great PR move by Hilton and demonstrates their forward thinking position in serving Chinese tourists around the world. Hilton recently launched their ‘Hilton Huanying’ program where they offer special services and amenities for Chinese travelers such as Mandarin service, in room slippers, in room tea and hot water and Chinese food choices at participating Hilton hotels. http://bit.ly/nX9a7QRead More »
Summary: Prada expects its China sales to double or triple within the next two to three years. Bentley makes ten limited edition cars, and all ten go to China for sale. BMW affirms its position on the growing Chinese auto sector. Are Chinese still buying real estate at home? China leads world in luxury spending. 20 per cent of the global market for luxury goods will be Chinese. Chinese companies like Shang Xia are starting to produce local luxury brands, and looking overseas for growth. Burberry and Harrods earnings affirm continued Chinese demand.Read More »
China’s wine consumption is expected to reach 828 million liters in 2011. China is drinking an average of 1.2 billion bottles of wine a year - with most of them being premium imported wine. French imports, particularly from the Bordeaux region, represent the largest share of imports, representing half of all wine imports to China.Read More »
Hong Kong is reaping the benefits from the Mainland Chinese tourism shopping spree, as Mainland Chinese flock to Hong Kong to purchase a wide variety of products, from food to personal care to high end luxury. The two top cited reasons are lower prices than in the Mainland (as much as 20% for luxury goods) and peace of mind when it comes to product quality.
Mainland Chinese visitors accounted for 67% of retail sales (which were up 26% from last year) in the first eight months of 2011, and represented the largest group of spenders. Retail sales are expected to grow 15 to 20% from the period a year ago during the recent October Golden Week holiday.Read More »