Burberry wants to pioneer a concept that blends social media and retail in China Social media is becoming such an important part of the luxury customer journey, particularly in the inspiration phase, and retail needs to keep pace with this. Luxury fashion house Burberry and Chinese technology powerhouse Tencent have entered into an exclusive … Read more
Chinese consumers are expected to account for nearly half of the global luxury market by 2025. Swiss luxury goods group Richemont and Alibaba group announce global strategic partnership. This partnership will bring Chinese consumers unprecedented access to the world’s leading luxury brands. Under the partnership, YNAP and Alibaba will establish a joint venture (JV) … Read more
Mainland China’s luxury spending continued its decline in 2015, however, emerging signs signal a reversal in 2016. Increased international tourism, and growing comfort and trust in some business-to-consumer (B2C) overseas websites among China’s shoppers stimulated overseas purchases in 2015, according to Bain & Company‘s 2015 China Luxury Market Study. Bain & Company’s 2015 study finds … Read more
Global consumer interest in luxury hotels has increased by 7.7 % over the past twelve months. Major growth rate coming from China (+39%), whilst interest from German consumers has dropped by 9.4%, according to the 2nd Edition of The World Luxury Index Hotels issued by by Digital Luxury Group in partnership with the Chair of … Read more
Gucci and Prada’s financial results are disappointing and there’s a fear that the west can’t provide what sophisticated Chinese shoppers want
Hurun Report releases Chinese Luxury Consumer Survey 2014 and Hurun Best of the Best Awards 2014. According to Hurun Report Chinese Luxury Consumer Survey 2014, the average spending of China’s high net worth individuals has decreased by 15%, with spending on gift giving down by a dramatic 25%. HNWIs are busier than ever. They … Read more