Jing Daily’s China Luxury Brief

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 18, 2013.

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— BUSINESS & FINANCE —

Shanghai free-trade zone gains luxury items storage facility. Looks like tax-free luxury items and auctions are going to be a big part of the new zone. “The storage facility comprises five vaults and can hold up to 2,000 metric tons of precious metals, diamonds and fine artwork.” (Money Beat)

— CULTURE —

Photo taken by Mao’s wife fetches $64,000 at auction. The buyer’s identity remains private, but with the rising global importance of Chinese buyers, one could probably take an educated guess to his or her nationality. (Scene Asia)

The Monkey King meets hip hop in Beijing. “The show is a creative take on Beijing opera by way of the Big Apple, with hip-hop dancing, gospel music and a love story mixed in with kung-fu fighting, acrobatics, and the occasional gong.” (Scene Asia)

— FASHION —

Valentino joins China’s high-tech runway revolution. The label is the latest international fashion brand to host a fashion show in China using savvy digital marketing and China-specific items. (Jing Daily)

China’s trendsetters flock to Farfetch on Sina Weibo. The niche fashion e-tailer is seeing a huge positive response as it dips its toe in the China market. (Jing Daily)

A growing number of luxury retailers is joining the “retail destination” trend. Stores are getting bigger and more elaborate globally, which will likely be popular with Chinese tourists. (CNN)

London seen as center of China-influenced fashion. For many Chinese apparel makers, London is the place to be. (China Daily)

— LIFESTYLE —

Maserati mulls aftersales upgrade in China. The company is considering taking steps to improve its parts-distribution service. The decision would be a smart move, as aftersales service is a top priority for Chinese luxury customers. (WSJ)

Maserati Quattroporte sales boosted by young female executives in China. Businesswomen make up 40 percent of the model’s sales, says an executive. (Automotive News Europe)

Mercedes-Benz opens engine factory in China. With its latest joint venture, the company hopes domestic production will help it gain ground in its competition with mass luxury market leader Audi. (China Car Times)

Demands of rich Chinese travelers “pose challenges for operators.” Your daily dose of stereotypes about rude Chinese tourists. (Travel Weekly)

Porsche to unveil new model at Guangzhou Auto Show. Chinese car fans will soon have the chance to look at the brand’s new 918 Spyder super sports car. (Cardekho)

— TECH —

China tops e-commerce opportunity study. A new A.T. Kearney report finds that e-tailers must look to China for the best future prospects. (WWD)

Xiaomi teases a mysterious new gadget. Is it a computer? A router? A smart TV? You be the judge. (Tech in Asia)

Chinese Bitcoin exchange receives $5 million in funding. China’s Bitcoin boom continues. “BTC China announced it has received $5 million series A funding from LightSpeed China Partners and LightSpeed Venture Partners.” (Tech in Asia)

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