Summary: New study released on China’s youth luxury consumer. Chinese buyers driving UK real estate market. RMB appreciation providing massive buying opportunities for Chinese consumers in New York. Chinese banks granting wine loans to consumers. Chinese Vogue magazine is growing thicker and thicker with demand from luxury brands. Chinese travelers filling up Japanese ski resorts. Chanel and Hermes top luxury brand rankings in China. Magazines top media channel for luxury consumers.
A total of 1057 respondents took part in the survey and the findings can be summarized by five key attributes: Optimistic, Self Fulfilling, Mainstream, Digital, and Price Sensitive. http://www.prnewswire.com/news-releases/2011-china-luxury-forecast-134604428.html
Of the apartments sold in the last year at One Hyde Park in London, which houses the most expensive flat in Britain, 30 percent have gone to Asian buyers, two-thirds of whom were from mainland China
According to the United States Bureau of Labor Statistics, since 2001 the relative value of the Chinese Yuan to the US dollar posted an increase of almost 23%, a figure that demonstrates both the plummeting buying power of the U.S. economy and the surging power of Chinese consumers. Simply put, New York City has never come cheaper to a foreign investor like it does now to the Chinese. http://www.observer.com/2011/11/all-of-new-york-becomes-chinatown-for-luxury-buyers/
The future looks bright on both the consumer and the creator fronts in China. “The middle class (in China) is growing, so the whole industry will grow along with it” opines Cheung. “Different brands keep opening shops and somehow they all have business. …http://luxurysociety.com/news/22248
Can’t afford a case of investment-grade Bordeaux? This Hong Kong-based bank will lend you as much as HK$5 million ($641,840) to buy, as long you select from its list of 50 top names.
Among Chinese Tourists, “The Popularity Of Japan Is Still Quite High” http://www.jingdaily.com/en/culture/chinese-skiers-to-boost-hard-hit-japan-resorts/
A new series of Luxury Brands Status Index (LBSI) surveys from the independent and objective New York City-based Luxury Institute reveals firsthand impressions and rankings of dozens of luxury brands by high net-worth consumers from Japan and China. Respondents were 21 years of age and older, earning the equivalent of at least $185,000 per year — one million Chinese renminbi or 15 million Japanese yen. http://www.marketwire.com/press-release/wealthy-consumers-from-china-japan-rank-luxury-brands-four-categories-lots-love-asia-1590365.htm
According to Fortune China’s recent consumer study, involving over 3,500 respondents, the most influential channel Chinese consumers leverage to discover new luxury brands is through magazines. http://thechinaobserver.com/2011/12/15/chinese-consumers-discover-luxury-brands-through-magazines/