In “Chinese Whispers,” we share the biggest news stories about the luxury industry in China that haven’t yet made it into the English language.
In this week’s edition, we discuss:
- The 5 most sought-after luxury brands on Singles’ Day,
- Bottega Veneta added two new stores in the mainland China market, and
- A Chinese daigou was sent to jail for 10 years.
1. The top 5 luxury brands Chinese consumers are eyeing on Singles’ Day – YouGov
Chanel has been named the most desired luxury brand among Chinese consumers for the upcoming Singles’ Day event on November 11 in China, with 28 percent of survey respondents intending to purchase it, a new study released by the research agency YouGov on November 9 uncovered. Chanel was followed by Dior (21 percent), Giorgio Armani and Gucci (15 percent each), and Hermès (13 percent).
The survey was conducted online from October 17 to 30, 2018, using YouGov’s panel of over six million
2. Bottega Veneta opened new stores in China – Bottega Veneta
The Italian luxury brand Bottega Veneta opened two new retail stores in China’s second-tier cities Changsha and Harbin last week. Both stores will sell the brand’s full line of products from apparel and accessories to bags. So far, Bottega Veneta has 43 retail stores in mainland China.
3. A Taobao daigou was sentenced for 10 years in prison for tax evasion and smuggling – Sohu
A Chinese daigou, or overseas purchasing agent, that had operated a store on Alibaba’s Taobao marketplace since 2013, was sentenced to 10 years in jail for tax evasion and smuggling. The daigou was found to have evaded over $430,000 (RMB 3 million) in taxes on imported apparel worth over $1.43 million (RMB 10 million).