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 25, 2013.#
1. Burgundy Bests Bordeaux At Christie's Hong Kong#
"The top seller at the three-day sale was a case of 1978 Romanée-Conti Grand Cru from Burgundy’s Côte de Nuit that sold for US$476,280 (HK$3,675,000), the global auction record for the esteemed vineyard. Romanée-Conti also nabbed the second highest spot on the list with another case of its 1978 vintage for US$301,644 (HK$2,327,500). In a demonstration of continued strong demand for wine at Hong Kong auctions, both of these sales tripled and doubled their respective high estimate of HK$1,100,000."
2. Phillip Lim Sets Beijing Flagship#
3.1 Phillip Lim's new China logo. (3.1 Phillip Lim)
"Lim invited 500 people to fete the 2,700-square-foot, two-story 3.1 Phillip Lim flagship store at the Taikoo Li, the luxury brand end of Sanlitun Village compound."
[WWD]
3. Zeng Fanzhi Tops Christie’s Hong Kong Auction#
"Less than a fortnight after the auction house’s record-setting contemporary art sales in New York, Mr. Zeng’s Hospital Triptych No. 3, a three-canvas work that depicts scenes at a hospital, sold for 113.2 million Hong Kong dollars (US$14.7 million) to an anonymous buyer."
4. 3 Trends That Show It's The Right Time For Indie Labels In China#
A look by 3.1 Phillip Lim, a niche label that's becoming more available in China. (3.1 Phillip Lim)
"An oft-heard complaint is the lack of a mature multi-brand environment in China, as seen in London, New York, or Tokyo, which remains the typical route of entry for many niche labels. However, just as consumers’ tastes and sophistication are evolving at breakneck speed, the local retail market is also fast catching up to better meet needs."
5. Singers And Actresses Sprinkle Stardust On Korean Cosmetics#
"AmorePacific’s overseas sales jumped 35 per cent last year to Won443bn, with China accounting for 60 per cent of those. Its big domestic rival LG Household and Health Care posted a 56 per cent jump to Won446bn."
[FT]
6. Vogue China's Fashion Cheerleader#
"As editor of pioneering fashion magazine Vogue China, Ms Angelica Cheung has been described as the most powerful woman in fashion in China right now."
7. Shanghai Set To Become The Most Influential Wine Investment Market#
"'China has become the world’s fifth-largest wine consuming country and is expected to become the number one wine consuming country in 2016. Shanghai is the most important wine import and distribution port in China, which accounts for 45% of the whole imported wine to China,' a spokesperson from Shanghai Wine Monopoly Bureau told the Yangtze Evening Post."
8. Bouygues to Build EUR360 Million Luxury Hotel in Macau#
"French construction-to-broadcast conglomerate Bouygues Monday said it has secured a contract worth 360 million euros ($488 million) to build a luxury six-star hotel in Macau, China, for Melco Crown Entertainment Ltd."
9. Shenzhen Special: Dalang Fashion Valley Aims For High-End Markets#
"'It's not just a contest to select the supermodels or to promote the city's image but a channel to invigorate our clothing industry and link the industry with the global fashion communities,' said Wang Lixin, director of Longhua New District Administration Committee of Shenzhen, where Dalang is located."
10. New Musical Partnership in China#
“'I believe China is the fastest-growing classical music market,’ Zhang Yu, the chairman of the board and president of the China Arts and Entertainment Group, said in an interview, noting that tens of millions of children in China are learning to play the piano or violin, and that new theaters and concert halls are being built throughout the nation."
[NYT]