Jing Daily's China Luxury Brief: July 26, 2013

    LVMH and Kering's China growth, Apple's statement on recent iPhone deaths, and China's possibly destabilizing unemployment levels are among today's top stories.
    Kering, owner of mega-label Gucci, recently released its financial information for the first half of 2013.

    Kering, owner of mega-label Gucci, recently released its financial information for the first half of 2013.china

    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. Check out today’s stories below:

    Business and Finance#

    LVMH and Kering have both released financial figures for the first half of the year.#

    Jing Daily takes a look at the China numbers here, while every major news source has a rundown on the overall numbers.

    Chinese real estate buyers are in a "New York state of mind."#

    "The U.S. ranks tops among mainland Chinese looking to buy homes outside their country, with New York being the most popular city, according to a survey of searches on Chinese-language property portal website Juwai."

    China's unemployment and inequality issues may prove destabilizing.#

    "High inequality is associated with social unrest, and is also a contributor to China’s economic imbalances — with high savings by the rich driving torrid investment and crimping consumption."

    The world's tallest building is apparently facing some paperwork issues.#

    A news report stating that construction has been halted due to a lack of proper permits has been deleted, but has sparked a wave of speculation over its status.


    Ad Age profiles Chinese luxury newsletter Bomoda.#

    "In the coming months, Bomoda will launch a Pinterest-like site which Mr. Buchwald described as 'the first real social luxury environment in China.'"


    Apple releases statement on China's recent iPhone-related deaths.#

    "In a statement on its China website, Apple offered customers a guide to identifying authentic phone chargers and encouraged its customers in the country to use only the chargers and power cables approved by the company."

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