Despite continued focus on a slowdown in China’s luxury sector, Prada SpA has recently reported that as far as it is concerned, the present is quite positive. At the close of the first half of 2012, Prada saw a 60% increase in net profit, and, as Jing Daily reports, most of that increase came from Asian consumers. Many luxury brands have become cautious of depending on Chinese shoppers for profits amidst reports of a slowdown in China luxury sales. However, according to the China Post, Prada’s Chief Executive Officer Patrizio Bertelli says that there is no need for hysteria regarding the slowdown in China and urges brands to keep calm about the future of the luxury market.Read More »
Despite reports of weaker demand for high end goods due to China slowdown concerns, many brands are also reporting continued increases in sales and staying the course on expansion plans in China.Read More »
I was recently asked to write an article for Business Forum China on my favorite subject - distribution in China. See the article at http://businessforum-china.com/article_detail.html?articleid=320 or read it below.Read More »
This past week has seen the financial markets punish luxury stocks on fears of a China economic slowdown. (http://tgr.ph/pWac64)
The European Union is struggling to shore up their already debt laden banking industry as Greece teeters on the brink of default. Meanwhile, the United States continues to battle high unemployment, low consumer confidence, and fears of a double dip recession. Some economists perceive these events as omens pointing towards a second global economic crisis.
But how does China measure up amid these dire monetary projections?Read More »