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 December 3, 2013.#
1. Bomoda Launches Mobile App Aimed At China’s Connected Fashionistas#
"The new mobile app, launched on November 18 for the iPhone, allows for the sharing of images through the company’s new Pinterest-like social site that was unveiled in October. On the site, users have the opportunity to upload, share, collect, and repost their favorite fashion-related images, as well as share on major Chinese social media sites including WeChat Moments, Weibo, Tencent, QQ, and Tencent Weibo. Its high-fashion aesthetic makes it the first of its kind in China, standing out from other more mass-market Pinterest-like sites such as Meilishuo and Huaban."
2. A Profitable Trade: Illicitly Shipping BMWs To China#
(BMW)
"The U.S. alleges that Erxin Zhou and Yifan Kong used money from a tire business to fund the purchase and export of 2,000 luxury cars—worth more than $80 million in the U.S.—to China last year. Their goal for this year was 3,000, according to the government's complaint. The couple hasn't been charged with a crime, but some of their company's assets were seized in October by the U.S."
[WSJ]
3. New World Wine Gains Recognition In China#
"A spokesperson for the De Xuan Liquor Company said: 'With the rising cost of French wine and the tax concessions of Chilean wine, we will import more wine from new world country like Chile.'"
4. Cai Guo-Qiang’s Risky Return to Brisbane#
"With a history of high-profile technical failures in Brisbane, including accidental explosions and sinking ships, you would think contemporary Chinese artist Cai Guo-Qiang might want to attempt something easy for a change."
5. Toyota China Sales Show Japan Carmakers Shrugging Off Row#
"Toyota’s luxury Lexus division is seeing “steady, good growth” in China and will post record sales in the country this year, Mark Templin, an executive vice president, said last month."
6. Luxury Clubs Hide In Parks#
(Flickr/thewamphyri)
"High-end business clubs Yishiliu were found to be operating in Beihai Park and Ditan Park, two sites that are on the national heritage protection list, reported China.org.cn. An anonymous worker with the park administration office responded that the exposure of the hidden clubs will not result in any changes."
7. The Über Glamorous Debutante Balls We Wish We'd Been Invited To#
(Chaumet)
"Last year, Shanghai's elite gathered for the first International Debutantes Ball, sponsored by Chaumet. China's love of luxury made it a natural venue for the glittering event, which sees debs from around the world parade in white gowns and jewellery, after being chauffeured around the city in a fleet of Jaguars."
8. China’s Luxury Market Losing Sheen As 2014 Looks Grim#
"Earlier in the year, Gucci froze its expansion plans in China and decided to renovate its existing stores. LVMH too posted a drop in its sales figures. The pace of growth in 2013 in mainland China witnessed a striking drop with only 2.5 per cent increase from 2012."
