In Headlines from China, we share the biggest news stories about the luxury industry in China that have yet to make it into the English language. In this week’s edition, we discuss:
- Shiseido Opens Its First Innovation Hub Outside Japan
- Kering Inks Plan to Return to China’s Biggest Trade Show
- The tech provider for LV’s high-tech handbags considers a US IPO
Shiseido Opens Its First Innovation Hub Outside Japan#
Shiseido Group’s first Beauty Innovation Hub outside of its home country of Japan opened its doors last week at WeWork’s flagship space in Shanghai. By collaborating with WeWork Labs (the We Company’s global platform for startups), Shiseido hopes to become more “consumer and collaboration-centric.” The new multi-purpose space offers makeup tutorials, new product trials, and skin tests with the help of Augmented Reality technology and immersive interactive devices. It will also become the company’s office of Shiseido China Business Innovation & Investment — spearheaded by the newly appointed Carol Zhou, who previously worked in marketing for Burberry and Marriott International.
Kering Inks Plan to Return to China’s Biggest Trade Show#
— CIIE
After having participated in the government-backed CIIE (China International Import Expo) for the first time last year, Kering recently signed an agreement to return to the country’s biggest trade fair, which will take place in November of 2020. Although the trade show is only in its third year, the five-day event has been deemed an important point of entry for foreign brands — not only to show affection to Chinese consumers but also to win over the government. The London-based luxury brand Gènavant has started negotiating with Shanghai’s local government on a store-opening deal, thanks to the show’s exposure. Last year’s roster features over 250 corporations from the top 500 companies in the world, including LVMH and L’Oréal.
The Tech Provider of LV’s High-Tech Handbags Considers a US IPO#
Royole Corporation, the Shenzhen-based manufacturer of flexible displays and sensors, might be planning for an IPO in the US. Although it hasn’t been officially confirmed, insiders speculate that it’s a sensible step for the startup, which closed its E Series round at a valuation of $5 billion in 2018. Founded in 2012, Royale ventured from tech to fashion last May when it debuted a collaboration with Louis Vuitton’s Cruise Collection. In it, three iconic handbags from the luxury brand were paired with Royole’s flexible displays, which allow customers to show their custom images and videos as well as using the touchscreen interfaces.