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 27, 2013.
1. China’s Top 5 Luxury Exhibits Of 2013
“There’s no doubt that hosting a special exhibit can help a brand develop a more sophisticated image, enhance its artistic credibility, and educate consumers about its history. In 2013, luxury brands flocked to China to host a wide range of exhibits in retail stores, at art museums, and even in structures built specifically for the occasion.”
“However, 93 years after Mao moved out, his former home has been swallowed up by the Jing An Kerry Centre, a gleaming shopping and entertainment complex that describes itself not as cradle not of Communism but of ‘cosmopolitan chic’.”
“Ferraris and Rolls-Royces have become common sights in China’s cities as a new class of super-rich indulge a growing appetite for luxury, but tight regulation has meant the private jet, the ultimate status symbol of the global elite, remains rare.”
“A spokeswoman for GM in China said the recall was due to quality issues related to a holding component for the fuel pump. The holder could crack with use over time, causing fuel leakages in extreme circumstances, the spokeswoman said. She said there had been no reports of casualties because of the issue, nor did she disclose the cost of the recall.”
5. What Does 2014 Hold For China’s Luxury Consumers?
“2013 has been something of an uncertain year for Chinese luxury-lovers as the country adjusted to the national anti-corruption campaign, but what can consumers expect from 2014? According to consumer analyst Jing Daily, the year ahead will see a rise in niche brands breaking onto the scene, while the big names may need to think outside of the box to stay ahead of the game.”
6. Luxury Food Gift Box Sales In China Plummet Amid Graft Sweep
“A member of the China National Food Industry Association told official news agency Xinhua late on Wednesday that the sales volume of gift food products is estimated to have fallen roughly 40 percent in 2013.”
7. Hunan-Style Hospitality Hits San Francisco
“A new luxury restaurant and boutique hotel, owned and operated by China’s Leader Group from the late Chairman Mao Zedong’s home of Hunan province, announced last week that it’s now open for business as the latest practitioner of hospitality from Asia in the San Francisco Bay Area.”