Macau Prepares For 5th Annual China Luxury Summit

Event, To Be Held June 24-25 In Macau, Features Executives From LVMH, Qeelin And Others, As Well As Academics Like Pierre Xiao Lu This summer, anyone with an interest in the Chinese luxury market should keep a close eye on Macau, where between June 24-25 the 5th annual China Luxury Summit is set to take place. As Macau gradually transforms from a gaming center to an international shopping, tourism, MICE (meetings, incentives, conferences and events) and culture hub, city officials (and event planners) are pulling out all the stops to show off their city's new venues while promoting its unique, "special administrative region" economic atmosphere. Fitting in with the city's aim of promoting its mixture of culture and luxury, the China Luxury Summit will bring together luxury executives, academics, market researchers, consultants, and media. After taking a year off in 2009, the summit is back and -- perhaps reflecting the importance of the Chinese luxury market (now the second-largest in the world) -- it's bigger than ever. From the looks of the attendees it is clear that the dramatic rebound of the Chinese luxury market in the wake of the global financial crisis has injected a much-needed dose of confidence into an industry that desperately needs some good news. The major themes of this year’s summit will be “the coordination between brand globalization and brand exclusivity” (a key dilemma for companies now operating — and expanding — in mainland China) and “the emerging luxury lifestyle in [the] post-crisis era.” Previous attendees include representatives and executives from LVMH Group, Richemont Group, PPR Group, Prada, Hermes, Chanel, Tiffany, and Coach, and this year home-grown luxury brands like Qeelin will take part as well. Speakers from these and other luxury brands, as well as academics and consultants such as Pierre Xiao Lu and Radha Chadha, will address a number of important issues that luxury brands from around the world are now coming up against in the rapidly growing, often misunderstood China market: How long can China’s economic growth entice its super-rich to consume luxury goods? Has there been any change in consumption psychology or a transformation in China’s luxury model in this post-crisis period? Will luxury brands operating in China make a significant shift from a “gold-rush” to a “ROI” strategy? What role will e-commerce play in the future of luxury retailing in mainland China? More information about the 5th annual China Luxury Summit is available on the event website.

Macau Prepares For 5th Annual China Luxury Summit

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Published April 13, 2010

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Macau Prepares For 5th Annual China Luxury Summit