Welcome to Jing Daily’s China Luxury Brief: the day’s top news on the business of luxury and culture in China, all in one place. Look below for the top stories for December 12, 2013.#
1. What Swiss Watchmakers Are Doing To Deal With China Export Dip#
“According to a report by Credit Suisse, Swiss watch exports to China were worth CHF16.8 million (US$15.5 million) in 2000, but ballooned by a massive 97 percent to CHF1.6 billion in 2012 (US$1.8 billion). During these 12 years, the industry only saw a temporary halt in 2009, but for the most part, China’s hunger for luxury goods was a top source of growth for the industry.”
2. Hengdeli to Acquire Nanchang Watch Retailer for $77.3 Million#
"Hengdeli Holdings Ltd., the Chinese retail partner of Swatch Group AG, agreed to buy control of a watch seller in Nanchang, capital of the eastern province of Jiangxi, for 469.5 million yuan ($77.3 million)."
3. Nissan's Infiniti Sedans Recalled In China#
"Japanese car maker Nissan will recall 2,855 of its luxury brand of Infiniti starting on Dec. 24, China's quality watchdog said Thursday."
[Xinhua]
4. Loewe Set To Open In Shanghai#
"The new store makes its home in the recently opened Jing An Kerry Centre on Nanjing Road West. The Spanish house, owned by LVMH Moët Hennessy Louis Vuitton, is feting the store with cocktail parties Thursday and Friday."
[WWD]
5. William Pitt Sotheby's Looks To Chinese Home Buyers#
"William Pitt and Julia B. Fee Sotheby's International Realty has partnered with the online real estate website Caimeiju.com, which focuses on well-heeled Asian consumers, making it the exclusive agent for the real estate firm's offices in Connecticut, Westchester County, N.Y., and Berkshire County, Mass."
6. Spring Festival Spotlight | Diageo White Horse Gold 1890 Scotch#
"Diageo’s White Horse Scotch has likely been looking forward to this Chinese New Year for years, since its name was clearly made for it. In preparation for Spring Festival, the drinks conglomerate has unveiled its new bottles of White Horse Gold Edition 1890, which will be sold exclusively in travel retail locations."
7. Daimler Expects Significant Rise In China Deliveries In 2015#
"'Real volume will happen in 2015,' in China, Mr. Troska, who is responsible for the company's China operations, said late Wednesday."
[WSJ]
8. China To Drive Growth Spurt In Global Travel#
"Routes within or connected to China will be the largest single driver of growth, accounting for 24 per cent of new passengers during the forecast period."
9. Architects Hope For More China Success After PM’s Mission#
“Because that demand really hasn’t been there before, there is a shortage of facilities that tourists increasingly expect."
