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 September 5 -September 9:
Jing Daily team had the privilege to attend the opening ceremony of Bulgari’s 125 Years of Italian Magnificence exhibition, held at Beijing’s National Museum of China. Running from September 4 to November 3, the retrospective exhibition showcases 600 pieces of Bulgari jewelry, highlighting the development of Italian design from over the course of Bulgari’s 125 year history.
Fittingly, the display of Bulgari’s designs, which represent classic Italian design, at the National Museum reflects both the commonalities and contrasts of these two ancient civilizations. The inherent dialogue apparent in the aesthetics of the two countries is an eye-opening experience for every visitor, Chinese or non-Chinese.
According to an article this week in the Art Newspaper, a study by the non-profit dealer’s federation, Cinoa (Confédération Internationale des Négociants en Oeuvres d’Art) found that fair-led, auction business and online media are replacing the traditional gallery model as the main source of revenue in the global art world.
Jing Daily noted some artists prefer direct relationships and, essentially, patronage. In China, the gallery system lacks the long history and heritage of that seen in Western countries, and while the gallery system in China is still in its infancy — dating back only a few decades — China’s most high-profile artists have found a successful way to jump ahead in the art world: working directly with museums, biennials, global collectors, and auction houses.
This weekend, Jing Daily is in Hangzhou for the Alibaba Group’s 2011 AliFest, an all-day event that includes the 8th annual Netrepreneur Summit and the Alibaba.com-Taobao Net Products Trade Fair. Speakers at this year’s summit include Thomas Friedman, who will deliver the keynote speech via satellite, and the actor, philanthropist, and luxury watch ambassador, Jet Li.
In the run-up to the event, media attendees were given a tour of the Alibaba corporate campus, as well as an introduction to some of the Group’s latest plans and releases, including the new Aliyun mobile operating system and the AliCloud cloud-based service.
This week, an article in The Wall Street Journal suggests that China will overtake Japan in terms of appetite for luxury goods this year, based on a study released last week by HSBC. According to the report, consumer spending power in the Western world continues to fade, while that by affluent Chinese is only just beginning to emerge.
As HSBC highlighted, culture is one of the primary reasons for the shift of luxury consumption from West to East. In addition to this cultural perspective, HSBC added, historical aspects also play a role in leading Chinese luxury consumption.
Swiss luxury watchmakers continue to pull out all the stops to set themselves apart in the increasingly crowded China market. While some are going the localization route and stuffing new collections with dragons or Chinese lacquer accents, others are inviting sporting greats over for press events, signing Chinese celebrities as brand ambassadors, or taking a more cultural tack. This month, Breguet looks to go the last route with its traveling “Queen of Naples” (Reine De Naples) exhibition, the watchmaker’s largest such touring exhibition to date, which will hit Beijing, Ningbo and Shenzhen.