Let’s play a little game. It’s the end of the year, so why not have some fun? 2021 has been a rollercoaster ride for global luxury in China. Needless to say, it has been a very busy year at Jing Daily, covering it all. Below are Jing Daily’s top five articles for 2021. All you have to do is pick the most widely read one. Seems easy enough — that is, if your insights into what makes China’s luxury market tick are up to snuff. The winner may surprise you, or maybe not. Either way, best of luck, and thanks for letting us be part of your daily media consumption for another year. For more of our 2021 end-of-year reviews, read here.
A — If Evergrande Fails, It’s Taking Global Luxury Brands with It#
Evergrande, which drove much of China’s property boom, now finds itself straddled with a staggering $300 billion of debt from decades of unrestrained expansion. Will Beijing come to the rescue? If not, will Evergrande’s slide toward bankruptcy — or worse — cause some sort of financial panic? Given this predicament, how should global luxury brands plan for a potential shock to the Chinese economy in early 2022? Read More
B — The Birth of China's Cultural Opinion Leaders#
Top fashion blog Highsnobiety released a whitepaper on influencer marketing and digital commerce shifts in China. According to the report, a new generation of creative tastemakers is pioneering the latest digital trends. These young influencers, called Cultural Opinion Leaders (COLS) have hard-won core values and beliefs, setting them apart from previous generations. And now, they are winning over legions of fans in China. Read More
C — How One Indie Luxury Brand Conquered the China Market#
Direct-to-consumer businesses have become a disruptive phenomenon over the past decade, yet they have not picked up steam in China. But as the country starts becoming familiar with DTC concepts, DTC brands like American luxury leather label Senreve have entered the market and found impressive success along the way. That begs the question: How did they do it? Read More
D — Where Do Luxury Brands Go After the Kris Wu & Zhang Zhehan Scandals?#
Two high-profile celebrities, Chinese pop star Kris Wu and actor Zhang Zhehan, recently displayed controversial behavior, shocking Asia and the luxury brands partnering with them. Although brands like Louis Vuitton and Porsche quickly terminated their contracts with these stars, that doesn’t imply that they are off the hook. What should they do next to reconnect with their female fans? Read More
E — Introducing China's Top Virtual Idols: Ayayi and Luo Tianyi#
Since the beginning of 2021, Hangzhou-based C-beauty giant Florasis, domestic haircare label Centaine, and China jewelry maker IDO have all appointed a virtual KOL to target young local consumers. Now, the virtual idol market is worth over $540 million. Jing Daily investigated whether a new era of AI idols is on the way and how these virtual influencers can benefit brands. Read More