Jing Daily's China Luxury Brief: December 10, 2013

    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 December 10, 2013.#

    1. Maison & Objet Launches Interior Décor Gateway To China#

    "Interior design is big business, and no one knows this better than SAFI, the organizers of Maison & Objet—a preeminent interior décor fair that has been a highlight on international art and design events calendars since it was first held in 1995. Taking place in January and September every year, the Paris event draws more than 3,000 furniture design leaders and over 85,000 visitors. Given its international appeal, Maison & Objet is debuting an Asian edition in Singapore scheduled for March 10-13, 2014, which is bound to attract buyers from across China."

    [Jing Daily]

    2. Foreign Auto Makers Taking China Market From Each Other#

    "Ford has seen sales surge by more than 50% to about 840,000 vehicles as of the first 11 months of this year compared with the year-earlier period on the back of an effort to double production capacity there by 2015. The U.S. car maker has said it would bring 15 new models in China between 2011 and 2015 including the luxury brand Lincoln and classic Mustang."


    3. Alcohol Producers The Victims Of Beijing’s Latest Anti-Lavish Spending Campaign#

    "Expensive wine and spirit brands such as Moutai, once a darling of the wealthy Chinese, have fallen out of favour. The Chinese Luxury Consumer Survey this year of individuals with personal wealth of more than 10 million yuan, found that high-end baijiu brand Moutai had dropped out of the Top 10 preferred gift items by male millionaires."


    4. Furla Continues To Grow Travel Retail Business In China With New Opening#

    "The opening of a new Furla location at Shenzhen Domestic Airport marks the brand's continued expansion in Chinese travel retail. The Italian luxury handbag and accessories maker opened a new 75sq m store at the location late last month."

    [The Moodie Report]

    5. The Asian Oligarchs You've Never Heard Of Who Bought Up London#

    "He claims to be the first Chinese citizen to own a private jet and loves his £21m Sunseeker yacht so much he decided to buy the whole company this year. He also splashed £700m on One Nine Elms, part of the South Bank regeneration project that includes Battersea Power Station. Jianlin plans to build Europe's tallest residential tower (670ft) and a luxury hotel on the site."


    6. China’s Wine Connoisseurs Wise Up To Rampant Fakes#


    "However, counterfeiters are finding it much harder to trick China’s increasingly sophisticated and knowledgeable wine aficionados, who are doing their research before shelling out massive prices for high-end bottles."

    [Jing Daily]

    7. Chinese Lawyer Buys Hong Kong’s Second-Most Expensive Home#

    "Raymond Li spent $95 million for a spot in Hong Kong’s Victoria Peak neighborhood — the second-highest total paid for a home there."


    8. Austerity Hits Penfolds Price In China#

    "The Australian wine industry has rapidly expanded into the Chinese market for high profits over the last five years. The AFR claims that the heavily discounted price of Penfolds in China could loom as a serious threat to Treasury Wine Estates’growth projections in China, the winemaker’s most promising market."

    [The Drinks Business]

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