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. Check out today’s stories below:#
Shang Xia's new Paris location. (WWD)
— BUSINESS AND FINANCE —#
Chanel and Louis Vuitton are the best luxury brands at attracting employees in China.#
And in case you were wondering, "those in charge of big-brand luxury companies' business in China earn an average monthly salary of 150,000 yuan and an average yearly salary between 1.5 million yuan and 2 million yuan." (China Daily)
Li Keqiang says China in period of “medium to high speed” growth.#
At the World Economic Forum in Dalian, China's Premier said that the resurgence will continue throughout the year, and that growth will come down to 7 or 7.5 percent afterward. (China Real Time)
— FASHION —#
Richemont sales growth misses forecasts.#
More news that the crackdown continues: the luxury conglomerate known for its Swiss watches is still seeing slowing China growth. (London Evening Standard)
Shang Xia opens in Paris.#
The
Hermès-owned Chinese luxury brand brings Chinese traditional craftsmanship to France in its first store location off the mainland. (Reuters)
Hong Kong-based watch company founder says Chinese consumers consider brand first, design second.#
Forbes interviews William Shum, founder of Hong Kong-based Memorigin, on his views on the future of made-in-China watches. (Forbes)
Gieves & Hawkes partners with Woolmark in China.#
The British label has teamed up with Woolmark Gold, a Woolmark certification which guarantees the standard of cloth for apparel sold in China. (Fashion United)
— LIFESTYLE —#
McLaren roars into China luxury auto market.#
The British automaker's vehicles cost up to $2.1 million apiece, putting it in competition with Rolls Royce and Lamborghini. (AFP)
Chinese visitor spending in London increased by 170 percent in five years.#
Imagine what it could have been if the visa policies weren't as restrictive. (Asia Travel Tips)
U.S. travel agencies focus on China market.#
Los Angeles and Hawaii continue their ongoing efforts to bring in high-spending tourists. (China Daily)
— TECH —#
The verdict is in on Apple's botched China unveiling.#
With widespread derision over the company's "cheap" iPhone price of $700 in China and its lackluster presentation for Chinese reporters, it looks like the Chinese government doesn't even need to pursue its anti-Apple campaign. (Quartz)