Weekend Sound Bites: Volvo's Dilemma, GDP Forecasts, And iPhone Angst

Welcome to Jing Daily‘s Weekend Sound Bites: a rundown of what industry influencers were saying about the week’s top stories on the business of luxury and culture in China. Volvo's Chinese and Western management are currently locked in a dispute over whether or not to go luxe in China. —FRIDAY, 9/13 — “I have read this book. This book told me that there are a lot of alternatives, never give up since you are a woman. Fight for it if you really want it. You can work until the day you have to give birth a baby, you can make effort than everybody does, you can lean in, you can sit on the table, and you can move on after you cry! And I will really do that.” -Ms. Gu, a poster on Chinese culture website Douban on her experience reading Facebook COO Sheryl Sandberg’s book. Recently translated into Chinese, Sandberg makes arguments for the furthering of women’s rights in the workplace, and while Facebook is blocked in China, the site is still widely known and respected. (China Real Time) "A handbag or watch are typically the kinds of luxury goods that are consumed on public occasions, while a luxury lingerie brand or luxury kitchenware may find it much more difficult to break into the market. The service sector follows the same logic." -Pablo Mauron, the general manager of Digital Luxury Group's China office on recent trends in China’s luxury consumption. (China Daily) —THURSDAY, 9/12 — “The recent resurgence of the economy will continue through the end of the year. But I believe China’s economic growth will come back down to a reasonable range of 7 to 7.5% afterwards.” -Li Keqiang, Chinese Premier on what he believes will be the next patterns for China’s economic growth. (WSJ) —WEDNESDAY, 9/11 — “Getting an iPhone is like finding a girlfriend - You find out after you get out of university and start working — it’s not that they are out of products, it’s just that the demands and price are very high.” -User on Sina Weibo, one of thousands voicing complaints over the exorbitant cost of the new “cheaper” iPhone 5C, which has by now become regarded as a marketing catastrophe for Apple in China. (China Real Time) — TUESDAY, 9/10 — "Volvo management says they (ostentatious Chinese consumers) are not our target customers. The problem is, there aren't many people in China today with good taste. Mistresses love BMWs. Coal mine owners and property developers drive Mercedes. Those rich people like to show off." -Unnamed businessman close to Li Shufu, the Chinese owner of Volvo. Currently, Li has been pushing Volvo’s European management to move out of its niche and produce a flagship luxury sedan to directly compete with Mercedes-Benz and BMW’s presence in China. (Reuters) — MONDAY, 9/9 — "If you know anything about Yue-Sai and how accomplished she's been in her professional life, I'm really thrilled to see that she is using her powers for good." -Archie Kao, Actor and master of ceremonies at New York’s China Fashion Night on broadcasting legend and entrepreneur Yue-Sai Kan’s China Beauty Charity Fund, which will send Chinese students to study at New York’s FIT. (China Daily)

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Weekend Sound Bites: Volvo's Dilemma, GDP Forecasts, And iPhone Angst