China News Brief
    December 31, 2013

    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.
    Jing Daily

    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 31, 2013.#

    1. 3 Key Reasons More Chinese Luxury Shoppers Will Buy Abroad In 2014#

    Galeries Lafayette in Paris. (Shutterstock )

    "Thanks to high tariffs, China’s luxury consumers already purchase an estimated 60 percent of their luxury goods outside the mainland. According to a new Chinese-language article in iFeng, several China luxury experts predict that this trend will accelerate in the coming year due not only to the pricing issue, but to several additional factors."

    [Jing Daily]

    2. Luxury Brands Eye Trends For 2014#

    "The country’s overall clout in the sector is not diminishing – Greater China now accounts for a quarter of Louis Vuitton’s revenue, 35 per cent of Cartier’s, and a whopping 45 per cent of Omega’s, according to Exane BNP Paribas."

    [FT ]

    3. Harrods Boss Criticizes Chinese Visa Proposals#

    "The boss of Harrods, the prestigious London department store, has warned that proposals by the Coalition to simplify visa applications for Chinese tourists are 'smoke and mirrors'."

    [Telegraph ]

    4. Multi-Brand Retailing Takes Off In China#

    "Previously a black hole in China’s retail space, multibrand retailers are beginning to make their mark in the Middle Kingdom."

    [WWD ]

    5. 5 Chinese Fashion Designers To Watch In 2014#

    “In 2013, many Chinese designers had major global retailers, influential fashion tastemakers, and prestigious award judges buzzing.”

    [Jing Daily]

    6. Video: A Closer Look At China’s Fake Wine Epidemic#

    "As Chinese consumers become more savvy about obvious fakes, counterfeiters are employing increasingly sneaky methods to trick them."

    [Jing Daily]

    7. What Puts Soul In A Masterpiece?#

    "Mr. Pei-Shen told Bloomberg Businessweek that he thought he was being commissioned to make paintings for art lovers who could not afford the genuine works but were willing to buy imitations."

    [NYT ]

    8. Ports 1961 To Launch Accessories#

    “The company, which in 2011 relocated its headquarters from New York to Milan, also continues to invest in its retail business. In fall 2014, Ports 1961 will open a 19,376-square-foot flagship on Shanghai’s luxury shopping street West Nanjing Road, along with a unit in Hong Kong."

    [WWD ]

    9. Revlon Inc. To Leave China#

    "The beauty firm said in a regulatory filing with the Securities and Exchange Commission, or Form 8-K, that the restructuring of operations will result in the loss of 1,100 jobs primarily located in China, including 940 beauty advisers retained indirectly through a third-party agency."

    [WWD ]