Weekend Sound Bites: Shanghai Style, Scottish Luxury, and California Wine

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.

Scotland has its sights set on the China market.

Scotland has its sights set on the China market.

—FRIDAY, 11/8 —

“If the Chinese start buying heavily into anything it will drive the prices up. When they get bored the prices will come down – the Chinese don’t stay in one market for long.”

-Bruce Aston, director of fine wine brokerage Aston Lovell in London, on the growing popularity of California wine in China. (CNN Money)

—THURSDAY, 11/7 —

“China is an economic powerhouse with the second largest economy in the world and it is crucial that Scotland strengthens its position as an attractive place for Chinese investors and an exporter of high quality goods for that market.”

-Alex Salmond, First Minister of Scotland, on the necessity of a five-day trade mission designed to strengthen ties between the two nations. (CNBC)

— WEDNESDAY, 11/6 —

“Don’t kid yourself. When a country falls from double-digit growth to 7.5%, there are repercussions.”

-Pierre Pringuet, CEO of Pernod Ricard, on the effect of China’s slowdown on company profits. (WSJ)

— TUESDAY, 11/5 —

“The last time we did this survey, Chinese buyers were looking for information. But now they are looking for connection. They are more discerning, they discriminate a lot more, and they are asking for a lot more empathy. The Chinese are beginning to ask ‘do you really understand my needs?’”

-Simon Tye, Executive Director of IPSOS, on its new report co-published with Ruder Finn on Chinese luxury customers’ changing demands. (Jing Daily)

— MONDAY, 11/4 —

“Shanghai is highly adaptable in terms of fashion. Fashion people mix and match a lot of different styles worldwide, yet the majority of ordinary people still prefer simple and wearable styles that are akin to Parisian style.”

-Peter Xu, fashion blogger, on what he thinks is unique about Shanghai style. (Jing Daily)