In the following video, Bloomberg’s David Ingles gives an overview on Asia’s demand for luxury goods - with a particular focus on China. Here are some interesting takeaways:
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The business opportunities for Hollywood in China have always outweighed the challenges of cracking the country’s heavily regulated entertainment sector. In the last few weeks from the Beijing International Film Festival to Robert Downey Jr’s Iron Man 3 tour in China, efforts by Hollywood at increasing engagement with China is evident.
Photo: Actor/Director Hu Bing shopping with Affinity China guests at a private Burberry event at South Coast Plaza during Chinese New Year.
Burberry Group Plc reported strong fourth quarter revenue as sales of higher price point merchandise increased and strong demand in China and Hong Kong resulted in double-digit increases. Read more →
BY DAVID WOLF
The Chinese New Year holiday is a period where many of China’s well-heeled consumers travel abroad, so it was no surprise that CCTV ran a story on how many Chinese consumers use their trips not just for sightseeing and relaxation, but for buying luxury goods. The national broadcaster took China’s 80 million international travelers to task for spending $30 billion abroad last year buying luxury goods, and criticizing them for not spending that money at home. Read more →