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 December 2, 2013.#
"I first heard of Old Lyric through a renowned Chinese fashion blogger’s Weibo. Founded a month ago, Old Lyric is already favored by professionals in the fashion industry. How did the boutique catch attention and receive good reviews in such a short period of time? With this question in mind, we visited Old Lyric, a space hidden in an old house on South Shanxi Road, Shanghai."
"LOUIS VUITTON, Hermès, Cartier and other luxury brands are set to see growth slow dramatically over the coming years, analysts predict, due to the new Chinese government's crackdown on "exuberant" spending."
"A work by modern painter Zao Wou-ki sold for 76 million yuan on Sunday at Sotheby's first major auction in China, breaking the record for the artist's work set earlier this year in Hong Kong."
"As Chinese cities expand dramatically and Chinese people become more prosperous, Britain has the world-class goods and services they need: from healthcare and education to premier luxury brands like Burberry and Paul Smith; from high end manufacturing to our great creative and sporting exports, like the Premier League, James Bond and Downton Abbey."
"So where better to see the dream in action than at a show home, designed to entice China’s newly-minted white-collar workers to part with piles of cash? Beyondbrics took a trip to the suburbs of Shenzhen too see how the latest in aspirational living is shaping up. Here are five things we learnt."
"China's quality watchdog said on Monday that Italian luxury car maker Maserati has recalled 25 vehicles imported to the Chinese mainland due to a defective generator wiring harness."
"For just $19, you can live for one day in a $3.7 million house in Los Altos Hills, one of the wealthiest zip codes in California. However, the mansion is only open to guests who either have their own startups or are willing to start one."
"Participant Susie Lau, the blogger behind Stylebubble.co.uk, said, 'For a long time, Ferragamo seemed to run the normal campaign route. In the last two years, they’ve done more interesting campaigns. And quite rightly with the heritage and history they can call upon. Unlike a lot of brands, they have the credentials. For me, they’re just starting to tap into the potential of communicating that to the customer.'"
"Cognac consumption took a nosedive in China, falling 12.2 percent through the first seven months of 2013, according to the Bureau National Interprofessionel du Cognac (BNIC). Scotch has also fallen on hard times, with consumption declining 21 percent in China and 11 percent in India during the first six months of 2013, according to the Scotch Whisky Association."
"The all-new 2014 Mercedes-Benz S-Class has been chosen as the first ever China Car of the Year by the Chief Editors’ Club. This isn't the first award the luxury saloon has received."