Trending in China: Investing in Children Is the New Status Symbol Among Chinese Parents

    From investment in children as the new status symbol to Furla launching a Tmall store, here is what people are buzzing about in China today.
    Fendi's 2017 Fall/Winter children wear collection. (Image via Fendi Weibo)
    Ruonan ZhengAuthor
      Published   in Finance

    Investing in kids is the new status symbol among Chinese parents#

    An article titled “A Monthly Salary of 30,000 RMB is Not Enough for a Child’s Summer Vacation” went viral on WeChat, it told the story of how a high-paid executive mom can hardly keep up with the extravagant overseas summer program for her daughter. The 10-days-long US study program consisting of lessons in English, piano and swimming classes, among other offerings, cost a total of more than 35,000 RMB (roughly 5,240). This article sparked discussion over whether it’s necessary for parents to invest so much in their children, especially over summer break. Netizens dubbed the phenomenon of parents showing off investment in their kids the new luxury, and compared it to how the Chinese show off their Louis Vuitton or Gucci bags.

    Furla was introduced to Chinese mass consumers in the TV show Ode to Joy. Photo: Weibo
    Furla was introduced to Chinese mass consumers in the TV show Ode to Joy. Photo: Weibo

    Furla launched official store on Tmall#

    Italian affordable luxury brand Furla officially launched on Alibaba Group’s largest retail platform, Tmall flagship store today, a milestone for Furla to push forward its e-commerce strategy and attract potential new young consumers. Furla fans can enjoy the convenience of shopping the brand's latest collection, bags, and accessories with a click. The brand also prepares special exclusives for Chinese Valentine's Day, Qixi, on August 28. Tmall enables Furla to integrate online and offline to complete its consumer management system and fulfill the needs of VIP consumers.

    Chen Man in Shangxia clothing. Photo: WeChat
    Chen Man in Shangxia clothing. Photo: WeChat

    Chinese luxury brand Shang Xia releases special collaboration with photographer Chen Man#

    Chinese photographer Chen Man, known as the “Chinese Annie Leibovitz," has collaborated in the design of the Winter/Fall collection for Hermes-owned luxury brand Shang Xia, adding unique elements to many Shang Xia’s lifestyle products. “The common love for traditional Chinese culture fuels this collaboration,” said Shang Xia CEO Jiang Qiong Er, who became friends with Chen Man when they first collaborated on the shoot for a promotional campaign for Shang Xia in 2015. This latest collaboration is likely to bring more brand exposure to the young affluent Chinese who appreciate Eastern culture and philosophy.

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