In case you missed them the first time around, here are some of Jing Daily’s top posts for the week of January 14-18:
2012 proved a more complex and challenging year for major international auction houses and domestic Chinese houses alike both in Hong Kong and mainland China, coming off a stellar 2011 during which the Chinese art market grew to 210.8 billion yuan (US$33.8 billion).
With leading collectors holding onto their artwork and antiques more tightly amid a slower macroeconomic climate, auction houses finding it more difficult to procure top-quality artwork, and mainland Chinese collectors spooked by punitive import taxes, bidding at high-profile auctions was markedly more restrained, as Chinese collectors homed in on proven works by blue-chip artists while ignoring lesser works by the same names.
One month after appointing actress Fan Bingbing as the brand ambassador for its Alma handbag, this week Louis Vuitton began promoting four color schemes aimed squarely at the mainland China market. The brand’s official Sina Weibo page features the handbag in four colors in particular — imperial yellow, royal blue, ivory, and deep indigo — that reference everything from the Qing Dynasty royal court to ancient porcelain in Chinese culture.
One month after launching its WeiboPay service and partnering with China’s leading budget smartphone maker Xiaomi to sell its MI2 device, today Sina Weibo launched a new campaign to sell a slightly larger object: a special edition Smart Fourtwo. Limited to only 666 units, users can pre-register to purchase the striking yellow-and-blue Chinese New Year model (unveiled earlier today) through January 18. In addition to the usual bells and whistles, the vehicle comes accompanied by a special blue exterior decal and necklace — featuring a snake weaving through the Smart logo — created by jewelry designer Bao Bao Wan.
With observers of China’s luxury market looking for signs of a rebound this spring, following muted growth in the second half of 2012, early indications are already pointing to a better year ahead for some brands. Despite a much-publicized crackdown on conspicuous consumption by the central government in Beijing, mainland Chinese consumers are showing up in growing numbers in their old haunts, most notably Hong Kong luxury boutiques.
CIC and Ogilvy Public Relations recently joined forces for the “2012 Crisis Management in the Microblog Era” white paper, an analysis of 50 Chinese brand crises that unfolded online last year. Along with a number of useful case studies, the study came to important conclusions, among them that responding to a crisis within the first 8 hours is more effective at controlling it, shortening its duration, and curbing its overall negative side effects.