Jing Daily’s China Luxury Brief: January 6, 2014

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 January 6, 2014.


1. How Luxury Brands Can Cash In On China’s Booming Wedding Industry

1376079981_di_Wedding-B_carousel-1280x854“This sense of obligation drives the wedding experience: rather than being a day for the bride and groom, Chinese weddings are celebration of family, and an opportunity for the family to show off in front of all its most important relationships. The entire ceremony, from receiving line photos to after-dinner toasting, is a stage-managed production designed to put on a show for the guests and give face to the hosts.”

[Jing Daily]


2. Victorinox Sharpens Its Fashion Focus In China

6762835467259023226“Swiss brand Victorinox opened its first brick-and-mortar store in China in December, signaling a shift in focus away from sales of its signature product, Swiss army knives, to its full range of goods from luggage and timepieces to cutlery and premium outdoor clothing.”

 


3. Luxury Cigarette Prices Fall After Beijing Ban

CHINA_CIgarettes“Prices of luxury cigarettes have been slashed in Beijing following the Chinese government’s ban on extravagant official spending, reports the Beijing Youth Daily, the official newspaper of the Communist Youth League in Beijing.”

[Want China Times]


4. Can Apple’s Angela Ahrendts Spark A Retail Revolution?

3023591-poster-p-5-new-season-at-apple“Apple hasn’t lived up to its name in China–its turbulent experience there could fill a B-school course with case studies about what to do better. It once controlled more than half of the Chinese tablet market, but as of last fall, its market share had slipped to just under 30%.”

[Fast Company]


5. Fan Bingbing’s Potent ‘Star Effect’ Worth $74 Million On Taobao

Louis-Vuitton-Spring-Summer-2014-Ad-Campaign-Fan-Bingbing_crop“Brands such as Louis Vuitton, Chopard, Cartier, Mercedes-Benz, Adidas, Moët & Chandonand L’Oreal knew what they were doing when they hired actress Fan Bingbing (范冰冰) as their celebrity brand ambassador: a report last month by online retail giant Alibaba’s Taobao revealed that the Iron Man 3 star has generated US$74 million (RMB450 million) in e-commerce revenue.”

[Jing Daily]


6. China Crushes Six Tons Of Ivory In Symbolic Gesture To Help End Illegal Trade

Ivory-tusks-are-displayed-by-the-Hong-Kong-Customs-in-Hong-Kong-on-Oct.-3-2013.-AFP“China crushed a pile of ivory reportedly weighing over six tons on Monday, in a landmark event aimed at shedding its image as a global hub for the illegal trade in African elephant tusks.”

[AFP]


7. Toyota Sells Over 900,000 Vehicles In China In 2013, Beats Sales Target – Executives

s1.reutersmedia-1“Violent protests and calls for boycotts of Japanese products broke out across China in 2012 after Japan nationalised two East China Sea islands, known as the Diaoyu in Chinese and Senkaku in Japanese, by buying them from their private owners. Japanese car makers sales in China fell sharply as a result.”

[Reuters]


8. China Wages Seen Jumping In 2014 Amid Shift To Services

itC8SVvZj5n4“China’s wages are set to increase by 10 percent or more in 2014, driving more low-cost manufacturers out of the country and boosting consumption, according to analysts at firms including Bank of America Corp.”

[Bloomberg]

 

 

 

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