Reports

    Jing Daily’s China Luxury Brief: July 10, 2013

    China's "grim" export figures, new data on lower-tier car demand, and Burberry's China-led growth are among today's top stories.

    A look from Burberry Prorsum Men's ready-to-wear 2014 collection. (Women's Wear Daily)

    "Exports in the third quarter look grim," said China's customs spokesman Zheng Yuesheng about today's report that numbers are at a 44-month low, causing continued concerns about the extent of China's slowdown.

    In an interview with CKGSB, Ogilvy & Mather Chief Knowledge Officer Kunal Sinha discusses the importance of China's lower tier cities for retailers.

    Almost 70 percent of Chinese people planning to buy a car in the next 12 months live in third- or fourth-tier cities, said a survey released today by the semiofficial China Association of Automobile Manufacturers and market-research firm Nielsen Holdings. According to Bloomberg, BMW has certainly taken notice.

    Burberry is reporting a "standout" spring/summer retail season with 21 percent revenue growth led by Hong Kong and China. Asia-Pacific and the Americas were the only regions with growth in the double digits, according to Women's Wear Daily.

    Chow Tai Fook's shares have jumped by 15 percent after it reported that China's gold-buying frenzy had sparked huge sales growth.

    China may not be so serious about its corruption crackdown after all, says Gwynn Guilford at Quartz, after a new report on global corruption couldn't get anyone in China to give it data.

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