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 industry news from January 23, 2014.#
“According to an update by the UN World Tourism Organization (UNWTO), China is the largest outbound tourism market for the second year in a row, after surpassing Germany in 2012. A recent report by the Tourist Research Center of the Chinese Academy of Social Sciences finds that this amounted to 97 million Chinese tourists that traveled abroad for the year. The UNWTO states that Chinese tourists saw an increase in travel expenditure of 28 percent in the first three quarters of 2013.”
“A roundup of ongoing Chinese New Year campaigns in China through February 10, featuring Louis Vuitton, Lancôme, Porsche, L’Oréal, and TAG Heuer.”
"Swanky hotels in China have found a way around rules that are meant to stop officials from spending public funds—or ill-gotten gains—on luxury accommodations: lose a star. Last year, a total of 56 hotels tried to downgrade their rankings to four stars."
"The crackdown on conspicuous consumption—part of an anticorruption drive led by President Xi Jinping —has hit spirits companies harder than most. Profit warnings, executive departures and restructuring drives have all been linked to the ban."
"On Wednesday night, the 22-year-old lifestyle label, best known for its down apparel and suits, made its first foray into the U.S. with the opening of a pop-up shop at Rothmans men’s specialty store in Manhattan’s Union Square. The shop is just the beginning of a push that includes offering a wholesale collection at the Liberty show in New York this week and the search for space for a flagship in Manhattan. It also plans to participate at the upcoming New York Fashion Week."
"We took three shoppers to test out Galeries Lafayette's personal shopping experience. Here's what they found and what they had to say."
"Nearly one year ago, year-over-year growth in jewelry sales was as high as 19%, said Sarah Quinlan, senior vice president for MasterCard Advisors, a division of the U.S.-based credit-card company. But according to a MasterCard report analyzing Hong Kong spending, that growth rate dipped below 6.4%, the average overall retail growth rate in the city last month."