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 26, 2013.#
1. How ShangPin Plans To Win Big In China's Luxury E-Commerce Market#
(ShangPin)
"Alibaba may be China’s clear market leader when it comes to mass consumer goods, but in China’s online luxury sphere, the market still remains fiercely competitive. With the launch of a new e-flagship platform and several other key marketing strategies, luxury e-tailer ShangPin aims to gain an edge in attracting and retaining savvy Chinese shoppers."
2. Remy Cointreau Hit By China Slowdown#
(Remy Martin)
"Compared to what we were used to, the long period of low-hanging fruit, China came down to a rather disappointing growth rate for the luxury industry in 2013."
[BBC]
3. Why China May Solve—Not Cause—The Global Wine Shortage#
"Recent news reports have been striking fear into the hearts of oenophiles across the world with ominous tales of how skyrocketing Chinese wine demand is going to exacerbate an ongoing worldwide wine shortage. While there are indeed several factors influencing a current shortage, China’s growing love for wine may be the future solution, not the cause."
4. Hugo Boss Drops 2015 Profit Target On China Slowdown#
"German fashion house Hugo Boss has abandoned its 2015 profit target, joining the ranks of luxury goods companies warning of slowing sales growth in China."
[Reuters]
5. The Importance Of The Hainan Rendezvous For The Luxury Market In China#
"The Hainan Rendezvous (HRV), situated on the burgeoning luxury destination of Sanya Island, has been in existence just four years. Within that four years, however, its reputation and ability to attract UHNWs, alongside leading global luxury brands has increased beyond all expectation."
6. Peugeot CEO Succession Paves Way For Last-Chance China Deal#
(Peugeot)
“PSA Peugeot Citroen (UG)’s move to name former Renault SA operations chief Carlos Tavares as its future chief executive officer stands to help secure an alliance with Dongfeng Motor Corp., which may be the carmaker’s last chance to end its reliance on Europe’s slumping car market.”
7. Meet China's Jack Kerouac#
"The desire to take a travel sabbatical has become so prevalent among white-collar urban Chinese that it's almost cliché. According to a viral tweet on Weibo, there are now four typical yuppie dreams: 'Opening up a café in the city, quitting one's job to travel in Tibet, running a small inn in Lijiang, and biking to Lhasa.'"
8. Copenhagen Fashion Week To Open Gateway To China#
(Copenhagen Fashion Week)
"China’s 25 leading fashion and news media are visiting Copenhagen Fashion Week for the biggest Chinese fashion event ever held in Europe. It is the first step in making Copenhagen the market place where China meets Europe."
9. Brown Thomas Hires In Extra Chinese-Speaking Staff As Sales Boom#
(Flickr/@ANDYwithCAMERA)
"The luxury Dublin department store already has 25 Mandarin-speaking staff to meet the demands of their booming business."
10. Luxury Carmakers Target Urban Youth With SUV Crossovers#
(Porsche)
“'In America, the average customer is about 52 years old for Porsche, in China it’s below 40 years' thanks to the success of the Cayenne, said Maier."