asia

Platinum has found a highly receptive audience in China over the last couple of decades, with the country becoming the world's largest platinum market in 2000 and maintaining that position, virtually unchallenged, for the last nine years. Read More

One of the fascinating aspects of China's growth and commercialization over the past 30 years is the opening of new niche markets that did not previously exist in the Mainland, even pre-1949. One of these niche markets is whisky. Though foreign liquors have entered the country at a rapidly growing rate for decades, whisky failed to gain a foothold in the country until the late 1980s. Read More

Despite the black cloud that still lingers over the global hotel industry, the Asia-Pacific region remains a much-needed source of optimism. Read More

In recent auctions, Chinese buyers have been among the most motivated and competitive, even surprising Hong Kong collectors and art dealers, one of whom remarked last month, "“The Chinese are out in force...It’s hard to outbid them.” This week, a series of auctions of Asian art were held in London, and the Chinese collectors referenced by that Hong Kong collector were certainly "out in force" once again. Read More

Despite the massive cost inherent in large-scale advertising campaigns, major luxury retailers still contend with relatively low customer loyalty in Mainland China, as Chinese luxury buyers have a knack for mixing and matching conspicuous brands rather than sticking with one. Read More

Although China remains one of the only bright spots in the world of luxury retailing at the moment, foreign luxury brands -- despite rapid growth in the mainland market -- often have difficulties convincing many of the country's highest-potential customers to buy their products within the mainland, because of the large luxury tax China levies on high-priced imported goods. Read More

As a result of the fast-paced development of China's eastern coastline and special administrative regions, only recently have major luxury brands made it to the country's vast interior region, where a number of second- and third-tier cities remain relative blank slates. Since so many companies are only reaching these areas now, the spread of luxury brands in China has become a regular news story. This has only intensified over the last year, as formerly free-spending Japanese and American customers have thought twice about luxury goods while emerging customers in places like the BRIC countries and relatively fast-growing economies like Vietnam become more regular (and brand-loyal) buyers. Nonetheless, the luxury sector is still experiencing only modest growth one year on from the onset of the global economic slowdown despite their best efforts at wooing new customers. Read More