Luxury brands in a quandary as China’s wealthy young develop resistance to bling
Gucci and Prada’s financial results are disappointing and there’s a fear that the west can’t provide what sophisticated Chinese shoppers want
Chinese Consumers
The preferences of China’s luxury consumers
Chinese consumers still love luxury goods, love Burberry and prefer to buy their items abroad, according to “Luxury Purchase Power” survey by Chinese news site iFeng quoted by jingdaily. This year, Burberry topped the list of favorite brands and was followed closely by Chanel, Gucci, Louis Vuitton, Prada, and Dior. This reflects overall trends … Read more
Americas region is the king of the luxury goods spending hill
Reversing the trend of recent years, the Americas region is the king of the luxury goods spending hill, estimated to grow at four percent in 2013 versus 2012, surpassing the estimated 2.5 percent growth rate for China, as luxury spending in that country moderates, according to the 12th Edition of Bain’s Luxury Goods … Read more
eBay joins Chinese online fashion platform to bring global style to China
eBay Style: eBay Joins with Xiu.com to bring global style to China eBay, the world’s leading online marketplace, and Xiu.com, a leading Chinese online fashion and luxury retailer, launched a localized online shopping experience, called eBay Style. The new venture aims to “bring the very best of eBay to Chinese consumers, particularly in fashion”. Through … Read more
Top market-defining factors for luxury in the next three to five years
Factors to watch in the mix of consumers and luxury products Bain & Company, one of the leading advisor to the global luxury goods industry expects an average of seven to nine percent annual increases in global sales to fuel luxury brands’ growth aspirations until the middle of the decade. “Brands must develop strategies … Read more
Ferrari to inaugurate first permanent museum outside Italy in China
Ferrari opens first exhibition outside of Italy in China For Ferrari China is now its second-largest market. The extraordinary demand from Chinese luxury consumers has led to a new special edition model based on 458 Italia. Unsurprisingly, Ferrari’s newest attraction will be also in China. Ferrari will inaugurate in a few weeks time a new 900 … Read more