“The growth potential of luxury e-commerce has never been so promising, and the importance of China for the luxury industry is only becoming more obvious every day.” – François-Henri Pinault, Chairman, Artemis (the controlling shareholder of global Luxury group Kering (Gucci, Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, Brioni, Boucheron, Pomellato, Dodo, … 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
The most-sought after luxury brands in China. Chanel overtakes Louis Vuitton as most sought-after global luxury brand in Digital Luxury Group‘s World Luxury Index China – 2nd edition. Chanel overtook Louis Vuitton thanks to rising interest in various product segments, particularly beauty. Interest for Louis Vuitton on the other hand originated mainly from the fashion … Read more
Benefitting from a fast-growing middle class and a fast-developing distribution network, sales of luxury goods in China have consistently outperformed the global market. Sales of luxury goods in China tripled in value in the 5 years to 2012 and by 2017 the country’s luxury market is set to double in value again, according to the … Read more
Chinese luxury spend Set to accelerate Asian ultra high net worth (UHNW) individuals wealth is expected to grow by 7.9% annually for the next five years with China contributing to the bulk of this growth, according to the Wealth-X World Ultra Wealth Report 2012- 2013, a provider of detailed intelligence on ultra high net worth … Read more