Jing Daily's China Luxury Brief

    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.
    Jing Daily

    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 November 6, 2013.#

    Paul Smith plans to open 25 stores in China in the future. (WWD)


    China inches close to United States for top number of billionaires.#

    According to a new report, the country remains at number 2, with 157. (China Real Time)

    Singapore condos for mainland rich funded by bonds.#

    "Faced with curbs on luxury residences and fundraising at home, China’s biggest mainland-listed property developer is building apartments for wealthy Chinese in Singapore and raising debt in the city’s currency." (Bloomberg)

    China's slower growth puts a drag on Western profits.#

    According to Pierre Pringuet, chief executive of distiller Pernod Ricard, "When a country falls from double-digit growth to 7.5%, there are repercussions." (WSJ)

    China attempts to bridle record house prices.#

    Restrictions are tightening on real estate purchases across major cities to prevent the country's rush of speculative buying. (Reuters)

    The "uncomfortable truth" in China's property market.#

    "State income is so entwined in the need for rising land prices that policy efforts to try to curb the house market create an inherent conflict of interest." (Reuters)

    — CULTURE —#

    Dalian Wanda snaps up Western art at Christie's.#

    The global conglomerate bought a Picasso painting and others, expressing hopes to open a museum someday. (China Real Time)

    In connection, Christie's sees "sharp increase" in bidders from China at New York auctions.#

    With rising Chinese incomes and interest in auctions for investment pieces, don't be surprised if it gets even sharper in seasons to come. (FT)

    — FILM —#

    China's film success spurs new talks of global cooperation.#

    The U.S.-China Film Summit continues, with Hollywood executives eager to get in on the market. (Variety)

    China demands "positive images" in return for access to markets.#

    "Speaking at the US/China Film Summit, held in LA on the eve of the American Film Market convention, China Film Co-Production Company president (CFCC) Zhang Xun told Hollywood executives: 'We have a huge market and we want to share it with you [but] we want films that are heavily invested in Chinese culture, not one or two shots ... We want to see positive Chinese images.'" (The Guardian)

    Filmmakers hope Singles' Day will be big for China's box office.#

    More than 11 new films are scheduled to open on the November 11 holiday. (Global Times)

    — FASHION —#

    Three generations of Chinese women under one fashion roof.#

    To really know the Chinese fashion market, you have to know the tastes of each age group, which are radically different. (Jing Daily)

    British designer Paul Smith stages a comeback in China.#

    The company plans to open 25 stores in the coming years. “We are very confident now because there’s a lot of young Chinese girls and boys who really like Paul Smith," he says. (Scene Asia)

    China’s corruption crackdown is helping fuel a secondhand luxury market.#

    Wealthy Chinese are unloading their logo-emblazoned handbags that they don't want to be seen in public with anymore. (Quartz)


    profiles Hugo Boss' China marketing.#

    The label's Shanghai show earlier this year was an innovation in combining runway with e-commerce. (GQ)

    — LIFESTYLE —#

    Will Chinese demand drive global luxury food shortages?#

    Wine, shrimp, and even goat cheese may be affected by a surge in Chinese purchases. (The Guardian)

    Sparkling wine gains recognition in China.#

    Red wine may be auspicious for gifting, but the bubbly drink saw a 51.8 percent sales increase in one year. (The Drinks Business)

    — TECH —#

    Samsung overpowers Chinese smartphone rivals.#

    The competition heats up in the world's largest smartphone market. (China Real Time)

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