Weekend Sound Bites: Bentley’s China Boost, Bespoke Jets, And Trendy Tmall

Welcome to Jing Daily‘s Weekend Sound Bites: a rundown of what industry influencers were saying about the week’s top stories on the business of luxury and culture in China.


—FRIDAY, 7/25 —

“Maybe the forecast from last year and the beginning of this year was too aggressive, but I still predict double-digit (sales volume) growth in 2014.”

-Wolfgang Duerheimer, chief executive of luxury carmaker Bentley, explaining how the company may have to reel down its estimates of maintaining a 61 percent growth. (Reuters)

—THURSDAY, 7/24 —

“It’s not our business, and he [Pan] can donate to anyone he likes, but such an explanation … indeed how many poor Chinese students can afford going to Harvard nowadays?”

-Chongqing-based Business magazine criticizing Pan Shiyi, chairman of Beijing’s largest property developer, and his decision to donate to Harvard to help Chinese students studying there. (Market Watch)

—WEDNESDAY, 7/23 —

“Buyers can be in their 20s, in their 70s. They can be in real estate, investment, oil and gas. They are from all over China.”

– Jason Liao, head of consultancy China Business Aviation Group, discussing how a growing trend of bespoke private jets among China’s wealthy is due the fact that there is no “typical” Chinese private jet buyer. (AFP)

— TUESDAY, 7/22 —

“The tightening of remittances could have quite a big impact on outbound individual investors as many have been using this avenue to buy properties.”

-An unnamed property consultant in China, discussing how the central government’s move to tighten remittances abroad could result in a decline in offshore investment by mainlanders. (SCMP)

— MONDAY, 7/21 —

“From Day One, we knew that to be relevant to China we needed to have both properties. So we decided to go there respecting our DNA as a luxury brand, selling our products at full price and with full service. By selling full-price on Tmall.com with rich content, we knew we would…set a good standard in China.”

-Laurent Malaveille, former digital executive vice president of cosmetics company Groupe Clarins, on the company’s move to streamline its digital presence onto one platform. (WWD)