Daily Brief

July 18, 2019

TODAY’S TOP FIVE CAN’T-MISS STORIES

  • 1

    Why WeChat is a Start and Not a Silver Bullet for Luxury Brands in China

    Luxury brands can - and should - build their own bespoke Mini Programs on WeChat - app integrations enabling brands to use it as an e-commerce website. At a time when third-party e-commerce retailers like JD.com and Tmall dominate in China, on WeChat brands can design their own pages, visuals and campaigns, something brands like Gucci do well. Its customers can browse and pay without having to leave the app, a premium experience without losing any control over the brand. Read more on The Drum

  • 2

    Tesla is Getting China Right, Morgan Stanley Says

    Tesla may be able to ramp up production in China faster than anyone believed, possibly landing the Silicon Valley car maker as the “leading luxury EV player” in the country, analysts at Morgan Stanley said Wednesday. The analysts, led by Adam Jonas, said their team in China had just returned from visiting Chinese suppliers with “fresh feedback” on Tesla’s plans in the country and the under-construction factory in Shanghai. Read more on MarketWatch

  • 3

    Fan Bingbing Wears Givenchy in Rare Public Appearance

    It seems that not all fashion brands have shunned embattled Chinese actress Fan Bingbing, who last year disappeared from the spotlight after being embroiled in a tax-evasion scandal. Read more on South China Morning Post

  • 4

    Bill Gates Loses His Spot as World’s Second-Richest Man

    LVMH, Arnault’s luxury-goods maker, advanced to a record in Paris and pushed his net worth to $107.6 billion and ahead of Gates by more than $200 million. Arnault has added $39 billion to his fortune in 2019 alone, the biggest individual gain by far among the 500 people in Bloomberg’s ranking. Read more on Fortune

  • 5

    Michael Kors Leans Into Chinese Valentine’s Day With New Ambassadors

    It’s a tough act to follow a megastar like Yang Mi, the face of last year’s Michael Kors Chinese Valentine’s Day campaign. So for this year’s occasion, the brand tried a different tack — tapping not one but two famous faces: Gen Z actors Leo Wu and Lareina Song. It’s not the only thing about the campaign the brand has expanded. While last year was the first time Michael Kors produced a special capsule collection for the occasion — consisting of two purses — this year’s collection has grown to 30 items. Read more on WWD