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:#
The Chinese Timekeeper watch with white jade dials that will be on display in Hong Kong this September.
— BUSINESS AND FINANCE —#
Expert: China's luxury demand is "evolving, not slowing."#
Just being in China "is no longer a strategy for success," says Euro Stars A-rated manager Arjen Los. (Citywire Global)
The "veil begins to lift" on higher consumer prices in China.#
Taxes and bureaucratic obstacles are cited as major reasons for steeper fees. (WSJ)
— CULTURE —#
More yellow duck knockoffs invade China,#
but the roast duck one looks like the best copycat so far. (China Real Time)
— FASHION —#
Ferragamo growth accelerates in China,#
and the company is eagerly looking to second- and third-tier cities. (Bloomberg)
Asian aesthetics becoming more prevalent in designer watches,#
and it's no surprise which country they're targeting. (NYT)
Relatedly, Asian watch brands up their efforts to compete with European counterparts.#
At Hong Kong's upcoming watch fairs, Chinese and Hong Kong watchmakers will be presenting luxury timepieces with features such as jade dials. (NYT)
— LIFESTYLE —#
Luxury brands are focusing on educating consumers about how to live large.#
Everyone from sommeliers to auction houses are working to teach Chinese consumers how to appreciate the finer things in life. (Bloomberg)
Grande lattes are $1 more in China than elsewhere.#
Retail rent is a main culprit for higher prices. (China Real Time)
Kweichow Moutai's stock is tumbling after recent news of its continued sales slump.#
The corruption crackdown continues. (Forbes)
Hong Kong's luxury seafood expo still has high hopes for mainland consumers, despite the crackdown.#
However, the main draw is lower prices, says one retailer. (SCMP)
A global survey finds that Chinese travelers are more likely than average to choose luxury travel options.#
No surprise there. (New Zealand Herald)
GM sees accelerated China growth, helped by its Wuling and Buick models.#
Yet another automaker seeing a sales rebound. (Bloomberg)