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 industry news from February 10, 2014.#
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Today’s stories:#
Will Kate Spade’s ‘Chinese Takeout’ Bag Win Fans In China?#
“As New York Fashion Week kicks into high gear, one collection that has been getting a fair amount of attention on Chinese social media is that of Kate Spade, which features many Asia-influenced items—including one handbag resembling a Chinese food takeout container.”
Baidu Users Care More About High Luxury Prices Than Fake Goods#
"An article on iFeng states that Baidu’s data center reports that the term 'price' was by far the most common search term associated with luxury bags and watches in 2013. For all watch-related searches, the term was included 15.7 percent of the time, far exceeding the search for the term “brand,” which was only used 1.4 percent of the time, and 'authenticity,' which was used 1.2 percent of the time."
What we’re reading:#
Global Luxury Brands Slow Store Expansion On Mainland China#
"'A key reason is that the anti-corruption measures in China have curtailed the use of public funds for high-priced gifts. Meanwhile, for the more aspirational and price-sensitive customer groups, where there is still spending growth driven by rising incomes, they are increasingly going to Hong Kong or other low-tax destinations to buy luxury goods,' said Steven McCord, a director of China retail research at Jones Lang LaSalle, Shanghai.”
[SCMP]
China's Anti-Corruption Measures Drag Down Catering Sector Growth To 21-Year Low#
“The official Xinhua news agency, citing the China Cuisine Association, reported the Chinese catering sector expanded only 9% on year in 2013, the lowest level in 21 years.”
[IBT]
BMW Sales Up In January On China Boost#
“German luxury car maker BMW is set to sell more vehicles in January compared to last year thanks to rising demand in China, where group deliveries surged more than 20% , Frankfurter Allgemeine Sonntagszeitung reported.”
[Reuters]
Rich Chinese Line Up To Leave China#
“Wealthy Chinese mainlanders are voting with their feet in eye-popping numbers and preparing to emigrate — taking both their money and family with them.”
Luxury Hotels Take Collaborations With Fashion Designers To Another Level#
“Dean Winter, Swire Hotels' area director of operations for Hong Kong and China projects, says: 'The hotel's collaboration with Net-a-porter perfectly combines both brands' philosophies.'"
[SCMP]