In case you missed them the first time around, here are some of Jing Daily’s top posts for the week of June 30-July 4, 2014.
There’s no doubt that China’s luxury market growth is in slowdown mode, and industry experts are scrambling to figure out just how long the slump will last. On the heels of a joint prediction between research firms Bain and Co. and Altagamma that the growth rate will be between 2 and 4 percent for 2014, Chinese market research firm Forward Intelligence Co. has released a prediction forecasting 2 percent growth through 2015.
As a pioneer and advocate of the solutions mobile can offer to fashion labels, 360Fashion Network CEO and Founder Anina Net has never stopped investigating and educating brands, officials, and consumers about the growing opportunities of the quickly evolving wearable technology market in China.
In a recent ceremony in Rome that featured the presence of China’s Ambassador to Italy Li Ruiyu, Italy was named the first country to receive a “Welcome Chinese” designation from Italian travel company Select Holding, a certification program officially recognized by China’s government-run China Tourism Academy (CTA). The designation is typically awarded to individual businesses across the world, and Italian companies individually certified include Rome’s Fiumicino Airport and train operator Italo NTV.
China’s massive shopping mall building spree and spate of new department store openings mean that competition is tougher than ever for domestic shopping centers attracting discerning Chinese luxury consumers—especially as they increasingly head abroad and shop online in search of lower prices. As a result, malls are doing everything they can to bring customers through the doors, including hostingart exhibits with Monet paintings and featuring live pigs and mermaids.
In China, many industries are illegal, yet highly lucrative: prostitution, narcotics, counterfeit goods, and—surprisingly for many Westerners—golf. With the nickname “green opium,” the preppy sport’s volatile rise alongside China’s rapid economic growth has been the subject of years of research for Dan Washburn, author of the newly published book The Forbidden Game: Golf and the Chinese Dream.