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 7, 2014.#
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Today’s stories:#
Alibaba’s Former VP Tells How Jack Ma Beat Ebay From A Small China Apartment#
"Looking back, it seems like a foregone conclusion that Alibaba would win. But at the time, it was regarded as almost an impossibility."
Shanghai Seizes Crown As Asia’s Style Capital#
“For the Monitor’s 10th annual survey to find the most fashionable cities in the world, the mainland China city jumped ahead 12 spaces from last year to land the position of 10th most stylish city overall. This places it ahead of several Asian cities that were ahead of it last year, including Tokyo (11th, up nine spots) and Singapore (18th, up one spot)."
Estée Lauder Pins Hopes On China’s Tier-2 Cities To Lift Lagging Growth#
“In order to boost these slowing numbers, Estée Lauder has been expanding its reach throughout China and 'aggressively' building up its online presence, according to Freda. The company introduced its products to six new Tier 3 cities over the past fiscal quarter."
What we’re reading:#
Chinese New Year Sales Grow 13.3%#
“Mainland China's New Year holiday sales grew at a double-digit pace this year, but the growth slowed from previous years against the backdrop of a heavy-handed anti-graft campaign and a shift in consumer spending habits towards experiences rather than material goods."
[WWD]
The People’s Republic Of Wine#
"One person who has witnessed this phenomenal growth firsthand is Yang Lu, one of China's most respected sommeliers. Born in the small city of Karamay in Xinjiang province but raised in Shanghai, Mr. Lu won a string of awards as sommelier at the Peninsula hotel in Shanghai before moving to his present position as group wine director for Shangri-La Hotels and Resorts based in Hong Kong."
[WSJ]
Korea To Chinese Tourists: Shop Here, Get A Visa#
“South Korea will begin offering as early as March a special card exclusive to tourists from China entitling them to a five-year multiple-entry visa, use of exclusive immigration counters and discounts at certain stores, the country’s Ministry of Foreign Affairs told The Wall Street Journal on Thursday."
The Idea Shapers#
“In recent years, women’s pursuit of beauty has become more and more clear and stronger than ever. They no longer like emulating popular, mainstream beauty, but yearn for unique beauty. In terms of shopping habits, along with the fast development of the Internet and online shops, Chinese women not only go to shopping malls and counters to buy products, they love shopping online too."
[WWD]
Record Number Of Chinese Enjoy Festival Overseas#
“A record 4.5 million Chinese people are estimated to have traveled overseas during Spring Festival, a rise of 12.5 percent from a year ago, according to the China Tourism Administration.”
[Xinhua]