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    Jing Daily's China Luxury Brief: September 5, 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. Check out today’s stories below:#

    The new Karl Lagerfeld store at the Jing An Kerry Center in Shanghai. (WWD)

    — BUSINESS AND FINANCE —#

    China's "Brother Watch" jailed for corruption.#

    He's probably wishing he had gotten in on the stealth wealth trend earlier. (AFP)

    Chinese luxury car dealer to sell credit-enhanced notes.#

    China ZhengTong Auto Services, a BMW and Land Rover dealer, "is talking to investors about an offering of U.S. dollar-denominated securities backed by Bank of China Ltd. to refinance loans due this year" despite growing concern about Chinese companies' $1.9 trillion debt. (Bloomberg)

    China to allow free yuan exchange in Shanghai free trade zone.#

    The policy of the first of its kind, and "'big moves' could be anticipated in the zone in the open-up of finance, authorities said." (Caijing)

    — FASHION —#

    Karl Lagerfeld begins China store rollout.#

    A new flagship in Beijing and a compact Shanghai location are "the first volleys in a rollout that could see around 40 stores sprout over the next five years." (WWD)

    The Hub trade show in Hong Kong connects contemporary designers with Asian retailers.#

    Brands including Henri Lloyd, Barbour, Y-3 Yohji Yamamoto, and Smyth & Gibson were among the exhibitors hoping to tap into the China market. (WWD)

    Check out the winners from the design competition at the Hong Kong Watch & Clock Show.#

    Perhaps someday China's wealthy will be wearing these names instead of Rolex. (Forbes)

    — LIFESTYLE —#

    Yao Ming sets sights on China's middle class with Napa winery.#

    Even China's top basketball star isn't immune from the slowdown (or he just wants to cash in on China's growing upper-middle class). Yao Family Winery will now sell bottles for 535 yuan ($87), a step down from the typical range starting at around 1,700 yuan a bottle. (China Real Time)

    Mercedes-Benz spends big to catch up in China.#

    Daimler head Dieter Zetsche is under heavy pressure to get Daimler to stop lagging behind Volkswagen and BMW. (The Motley Fool)

    Macau's Versace-themed hotel aimed at Chinese market.#

    One would expect that, considering that the vast majority of Macau's visitors are Chinese. (Skift)

    China's rich engaging "environmental immigration".#

    For those who can afford it, relocating from China's smog-choked cities is an appealing option. (Herald Net)

    The world's most expensive bed is now sold in Beijing.#

    Apparently bright fuschia is now the color of opulence. (Caijing)

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