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 November 15, 2013.
— BUSINESS & FINANCE —
How brands can make safe marketing bets to win big in China. Scott Silverman, worldwide managing director at Ogilvy & Mather, discusses why advertising in China is like walking into a casino. (Jing Daily)
Chinese developers invest heavily in Australian properties. Chinese companies such as Greenland Property Group, Ridong Group, and Country Garden are undertaking major projects on the Gold Coast and elsewhere. (The Australian)
China International Travel Service eyes duty-free facilities. The state-owned travel enterprise hopes to open duty-free shops in Cambodia and other Southeast Asian markets. (China Daily)
China will expand taxes on “some luxury goods.” If you can’t read Chinese, Reuters has a draft of the third plenum’s reform plans in English. (Reuters)
Shanghai free trade zone to host gold warehouse. China’s love for cheap gold continues unabated. (China Daily)
— FILM —
China’s Bona Film Group posts improved third-quarter results. Several of its films saw massive success recently. (The Hollywood Reporter)
— FASHION —
Valentino’s first collection shown outside of Paris was revealed in Shanghai, naturally. The landmark runway show is a sign of Shanghai’s slow emergence as a global fashion center. (WWD)
China sales lift Salvatore Ferragamo profit. Another brand getting its China strategy right despite the slowdown. (Reuters)
How Elisabeth Koch got to be Vogue China‘s g0-to milliner. “Within the past six years, Koch has established herself as the only real milliner in mainland China and accumulated a slew of editorial credits from Chinese editions of top fashion glossies like Vogue, Harper’s Bazaar and Madame Figaro.” (The Fashion Spot)
China’s changing fashion since 1978. Xinhua’s new slideshow shows the major changes through the reform period and beyond. (Xinhua)
JOG unveils men’s swimsuits at Galeries Lafayette Beijing. The French brand is expanding throughout Asia. (Fibre 2 Fashion)
— LIFESTYLE —
Infiniti targets young Chinese buyers. Nissan’s going after the crowd that thinks Audi and BMW are too commonplace. (Bloomberg)
By 2015, Chinese tourists could spend more than all the world’s luxury shoppers combined. A new Morgan Stanley note makes this stunning, yet unsurprising prediction. (Quartz)
China consumes nearly half of the world’s luxury goods. A new report by Fortune Character concludes that Chinese shoppers are expected to buy nearly half of all the world’s luxury goods in 2013. (CRI)
VW Group sales up 3 percent in October on China. Chinese buyers are still scooping up Audis. (Reuters)
