In case you missed them the first time around, here are some of Jing Daily’s top posts for the week of March 31-April 4, 2014.
In China, the term tuhao (土豪), a phrase that is commonly used to describe the country’s “tacky” nouveau riche, conjures up very specific imagery for those familiar with it. Logo-laden luxury goods, over-the-top wedding ceremonies, and the unmistakeable hue of tuhao gold (土豪金) that graces everything from flashy cars to expensive iPhone cases are classic signifiers of the ostentatious lifestyle.
Move over, wolves of Wall Street, a new wave of investors are taking center stage, and they come toting luxury handbags. Meet China’s dama (大妈): affluent women aged 40-60 who, after sending their kids to school and watching television dramas, channel their excess energy into buying gold, luxury products, and even bitcoins as investment.
After a frenzied week of new model unveilings by many of the world’s top luxury watch companies, the massive watch and jewelry trade show Baselworld wraps up tomorrow in Basel, Switzerland. Although Swiss watch exports to China declined last year, “all eyes were on Hong Kong and China,” for the fair, according to Women’s Wear Daily.
When it comes to marketing on China’s social media, one of the most active industries in the luxury sphere is beauty. Thanks to luxury beauty brands’ positioning as “accessible” luxury, the need to reach a mass audience prompts them to launch online campaigns at a much higher rate than more “exclusive” categories.
Despite a record-setting year in 2013, Chinese contemporary art prices have long lagged behind those of pieces by top Western artists. As the spring art auction season arrives, this discrepancy is still obvious, but a rising tide of Chinese collectors pushing up Asian art prices means that the difference may not be so dramatic for long.