Event, To Be Held June 24-25 In Macau, Features Executives From LVMH, Qeelin And Others, As Well As Academics Like Pierre Xiao Lu
Earlier this year, Jing Daily covered the Macau city government’s plan to transform the city from a destination for one-day gamblers into an international shopping, tourism, MICE (meetings, incentives, conferences and events) and culture hub, of which the gaming industry makes up only one part. In their efforts to make this transformation, the Macau government has encouraged the construction of new, world-class venues and luxury shopping centers while at the same time promoting more cultural events — from art exhibitions (previously) to performances and large scale conferences or pageants.
On June 24-25, two of the things Macau most wants to be known for — luxury and conferences — will come together at the 5th annual China Luxury Summit, for which Jing Daily is an official media partner. After taking a year off in 2009, the summit is back in Macau this year, and from the looks of the attendees it is clear that the dramatic rebound of the Chinese luxury market (covered extensively here) in the wake of the global financial crisis has injected a much-needed dose of confidence into an industry that desperately needs some good news.
According to the event website, the major themes of this year’s summit will be “the coordination between brand globalization and brand exclusivity” (a key dilemma for companies now operating — and expanding — in mainland China) and “the emerging luxury lifestyle in [the] post-crisis era.” Previous attendees include representatives and executives from LVMH Group, Richemont Group, PPR Group, Prada, Hermes, Chanel, Tiffany, and Coach, and this year home-grown luxury brands like Qeelin (previously) will take part as well.
In addition to speakers representing major global luxury brands, a number of influential academics and media figures will take part in the China Luxury Summit, including Pierre Xiao Lu, Assistant Professor at Fudan University’s School of Management and co-author of Luxury China (previously reviewed on Jing Daily), and Radha Chadha, Managing Director of Chadha Strategy Consulting and author of The Cult of the Luxury Brand: Inside Asia’s Love Affair With Luxury.
These and other speakers will address a number of important issues that luxury brands from around the world are now coming up against in the rapidly growing, but amorphous and segmented China market: How long can China’s economic growth entice its super-rich to consume luxury goods? Has there been any change in consumption psychology or a transformation in China’s luxury model in this post-crisis period? Will luxury brands operating in China make a significant shift from a “gold-rush” to a “ROI” strategy? What role will e-commerce play in the future of luxury retailing in mainland China?
These questions and many more will be covered in keynote speeches, interactive panel discussions, master-class training sessions and workshops. Event sponsors include the Wall Street Journal (Chinese), the Financial Times (FTChinese), Forbes China, and the ESSEC Business School.
More information about the 5th annual China Luxury Summit is available on the event website.