In case you missed them the first time around, here are some of Jing Daily’s top posts for the week of May 19-23, 2014.
On the exterior, tall tower spires pierce the air as ramparts encircle the castle. On the interior, craft beer flows in the “Royal Cellar” amid sprawling stone work, wood furnishings, and high ceilings. But this isn’t a Bavarian castle, as its appearance would like you to believe—in fact, this a “castle hotel” built some 5,025 miles east of the German region. Luxury hotel chain Starwood Hotels unveiled the upcoming opening of The Castle Hotel in Dalian, a major seaport city in China’s northeastern Liaoning province.
A continued China slowdown is expected to keep global luxury growth in the single digits for 2014, according to a new study released today by consultancy Bain & Co. The recent report, presented in partnership with Italian luxury industry association Altagamma, predicts that China’s local luxury market will grow by only 2 to 4 percent this year. This number is similar to Bain’s estimate that China’s luxury market grew by 2.5 percent in 2013, and indicates a very slight rebound possibility.
Fans of Swiss luxury brand Montblanc who wonder if they have what it takes to be a “big boss” can find out with the brand’s first integrated WeChat campaign. In celebration of the brand’s 90th anniversary, it has rolled O2O features and a new game on the mobile messaging app in which thousands of followers rate photo submissions of users to assess whether or not they display the sophistication and leadership of a daban (大板), or “big boss.”
China’s luxury slowdown has been precipitous over the past few years: after estimated 30 percent growth in 2011, it fell to 7 percent in 2012 and only 2 percent in 2013. While the decline is attributed to a mix of slowing GDP growth and the Chinese government’s anti-corruption campaign, it’s only a “short-term blip” compared to projections for luxury through the year 2030 and beyond, according to a new report by the Economist Intelligence Unit.
After the recent launch of a Tmall shop by British label Burberry, Chinese e-commerce giant Alibaba is teaming up with the French government to promote French brands in a new deal likely aimed at courting more high-end companies.