Week In Review: February 13-17

Jing Daily’s Top Posts for the Week In case you missed them the first time around, here are some of Jing Daily’s top posts for the week of February 13-17: Jing Daily At Social Media Week Hong Kong Running from February 13-17, this year’s Social Media Week Hong Kong — one of 12 global versions taking place in cities like New York, Tokyo and Sao Paulo — promises to be bigger and better than the inaugural event in 2011. A hub not only for finance and auctions but regional media, owing to its open access to the Internet and all social media platforms, Hong Kong is a promising but still relatively young market in terms of social media/digital engagement. With a packed schedule of panel discussions, workshops and networking sessions, Social Media Week Hong Kong 2012 looks to bring the city further into the global fold and inject new life into its local social media and digital marketing community. China Online Luxury Market Surpasses 10 Billion Yuan For First Time China’s booming luxury e-commerce market surpassed 10 billion yuan (US$1.59 billion) last year, a nearly 70 percent leap over 2010, according to a new study by iResearch. Despite the possibility of overcapacity, the market is expected to post 30 percent annual growth over the next several years. As the report points out, last year’s 10.73 billion yuan is expected to surge to 37.24 billion by 2015, which looks even more dramatic considering luxury e-commerce turnover only reached 6.36 billion yuan in 2010. Interestingly, iResearch’s study did not take into consideration revenue generated by luxury goods’ direct-sales online stores. Social Media Week HK: New Membership Models Could Crack China Luxury Market This week, Jing Daily is taking part in several events during the ongoing Social Media Week Hong Kong, which consists of panels, workshops and activities throughout the city. Yesterday, along with an interview of the social media and e-commerce manager at the Mandarin Oriental (forthcoming on Jing Daily), one of the more interesting events was a panel led by Jennifer Cheng of Fireworks Internet, discussing two new startups in Hong Kong that cater towards high-end demographics via tailor-made membership services: Glamabox (cosmetics) and the soon-to-launch Gourmei (fine dining). Chinese Cosmetic Brand BYKL Goes Traditional To Take On European Rivals The premium skincare market in China may be dominated by Western brands, but home-grown entrants are joining the market in ever-increasing numbers, using a mix of traditional ingredients and marketing savvy to compete with their much larger rivals. As Hong Huang — publisher of iLook and owner of the domestic fashion designer-stocking store Brand New China — writes this week in her column for WWD, ChinaFile, one such new brand, Ba Yan Ka La (BYKL) recently launched its first boutique in Shanghai, billing itself as the first Chinese “luxury skincare brand.” However, interestingly enough the brand’s owner is anything but Chinese. Moët-Hennessy To Produce Red Wine In China, For China Following the lead of Les Domaines Barons de Rothschild, which developed 25 hectares of vineyards in Shandong province in 2008, recently the luxury giant LVMH announced that it has invested in a vineyard in the mountains of Yunnan province, southwest China, to develop its own 30 hectare vineyard. According to the French business magazine Challenges.fr, LVMH will work with the wine and spirits distributor VATS on the project, which will focus on producing red wine expressly for the China domestic market. Tweet Follow @JingDaily

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Week In Review: February 13-17