Summary: The opportunities and challenges of luxury boutique hotels in China. Luxury goods demands grow in smaller cities. Paul Smith is trying to crack the China market again. Insights from this year’s Walpole China Luxury Summit in London. Ferrari PR stunt damages ancient Chinese site. Aquascutum acquired by Chinese company. Shanghai’s wealthiest individuals revealed in new Hurun report.Read More »
Hurun and Group M joined up to release this Chinese Millionaire report. Some great insights inside, including:
- The average age of the super rich (net worth > 100 million RMB) is 43 years. These super rich tend to own three properties, five luxury watches and four cars. There has been a surge of interest in drinking fine wines and collecting art, especially Chinese classical art.Read More »
Despite the rise of the Chinese economy over the past two decades, the combination of a weakening Chinese stock index (currently at a 14 month low) and forecasts predicting sluggish growth over the next few years (5% GDP by 2016, down from 9.5% last quarter) have left many Chinese investors looking for new places to park their cash.
Chinese investors have been increasingly purchasing real estate overseas as the combination of the global economic recession and the higher RMB value create historically attractive buying opportunities for wealthy Chinese.Read More »
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 »
China Luxury News Roundup
Summary: Luxury brands are thriving despite the global economic downturn, largely driven by Chinese consumers increased spending at home and abroad. Changing Chinese consumer preferences opening opportunities for designer brands like Paul Smith in China. Chinese government regulations and luxury trends paving the way for more subtle luxury products. A look into luxury auto showrooms in Beijing. China’s wealthy are getting wealthier. Chinese tourists flooding France. Australia says “Nihao” to Chinese tourists. A new Chinese luxury e-commerce company receives funding.Read More »