Whereas once they were the uniform of London’s elite movers and shakers, the legendary Savile Row cut of suit has slowly been making inroads into China.
And a collection of the British capital’s finest bespoke tailors now has big plans to extend its reach across the nation.
Gieves & Hawkes — founded in 1771 and the oldest and largest bespoke tailor on Savile Row — has just announced plans to open 10 new stores across mainland China this year alone, to go with the 90 already established in the country. Continue reading →
Lotus Cars Ltd announced its official foray into China on Wednesday, seeing the huge potential from China’s surging super sports-car market.
The British sports-car maker has authorized Symphony Lotus Ltd as its importer and distributor around the nation with the launch of a new logo to avoid confusion with the local Youngman brand which already uses the “lotus” name (Lianhua in Chinese).
It will start first with an outlet in Beijing — expected to open in October — before moving into the cities of Shanghai, Chongqing and Guangzhou by the end of the year. Continue reading →
You don’t have to tell the people at Prada how valuable the Chinese market for luxury goods has become — the Italian fashion icon is so keen to set up a base out East that it is about to be listed on the Hong Kong stock exchange.
In fact, such has been the rush by the world’s luxury brands to get a foothold in China that there are, apparently, little to no spaces left for them in the malls of the country’s largest cities.
Bad news for the brands themselves — keen to get a slice of a market estimated to be now worth 84 billion yuan (nine billion euros) a year — but it is good news for China’s fast-growing number of online luxury-only shopping portals. Continue reading →
The “Louis Vuitton – Voyages” exhibition retraces the crowning moments in the history of the Maison, which since 1854, has beautifully paired form with function, creating travel items that bear witness to the French lifestyle.
The Louis Vuitton Voyages exhibition runs at the National Museum until August 30. Admission to the museum is 10 yuan. Continue reading →
As the buying power of China’s masses continues to spiral upwards, more and more information is being gathered focusing not only on what they like to spend their money on but how they go about spending it.
French labels are the most sought-after luxury products for Chinese shoppers as a booming economy creates a growing legion of newly affluent consumers.
French brands are the top choice for mainland buyers, followed by those from Italy and Hong Kong, consultants KPMG said in their report “Luxury experiences in China”, based on a survey of 1,200 consumers from 24 cities.
“China continues its march towards becoming the largest luxury market in the world,” said Nick Debnam, the firm’s head of consumer markets for Asia Pacific. Continue reading →
Moet Hennessy, the wine and spirits arm of LVMH luxury group, said Thursday it was planting its first vineyard in China to produce a premium sparkling wine.
The 66-hectare (163-acre) vineyard will be planted as a joint venture with the publicly-owned agricultural development firm of the Ningxia Hui autonomous region in northwestern China.
The maker of Moet and Chandon champagne will build and own a facility near the vineyard to produce the high-end sparkling wine, which is to be sold locally under the Chandon label, LVMH said. Continue reading →
Global luxury sales should grow eight percent this year to 185 billion dollars (124 billion euros) but Japan‘s market will contract.
The forecast was raised from an earlier estimate of growth of between three and five percent but would still be lower than last year’s result of 12-percent growth in the luxury market, as the world recovered from the economic crisis.
Growth would average five to six percent a year until 2014 according to a study by research group Bain&Company released Tuesday. Continue reading →
One of Rolls Royce boss Torsten Muller-Otvos’ most memorable auto show moments came last year in Beijing when a man walked through the crowd to the carmaker’s stand and set down a suitcase.
“Millions of renminbi,” the man said of the suitcase’s contents. “Really, that was amazing. He bought a Phantom,” Muller-Otvos said.
The Rolls Royce chief executive told AFP no cash buyers had come forward yet at the ongoing Shanghai auto show, but the exhibition has provided further proof for luxury carmakers that their future is in China. Continue reading →
A rise in the spending power of China‘s younger consumers is apparently not helping them when it comes to picking up a little style at the same time.
Mainland Chinese media have this week picked up on a report released by the Hong Kong Institute of Fashion Buying and given it a interesting spin, saying that while more and more younger Chinese are now able to spend lavishly on luxury goods, they have been unable to pick up the one thing money can’t buy — good taste.
That report showed that the age group for consumers of luxury goods and high-end fashion in China was between 20 and 50 years old — and compared that to the age group of 40 and 60 years old found for the same habits in Japan. Continue reading →
Rolls-Royce unveiled its new Ghost long wheel base car for the first time at the 2011 Shanghai Motor Show.
The Ghost Extended Wheelbase is designed for users who require even more room from the luxury marque’s massive Ghost sedan and is expected to be popular with the ever-increasing number of wealthy buyers in China.
The addition of 170mm to the car’s wheelbase has significantly enhanced the legroom making it ideal for those looking to use it as a chauffeur vehicle. Continue reading →
After four thrilling days of exclusive parties, glamourous entertainment and intense networking, the Hainan Rendez-Vous 2011 ended last Monday leaving no doubt about its status as the region’s leading yacht show.
The superyacht show, which also incorporates a business jet exhibit and displays of luxury properties and high-end brands, once again drew crowds of China’s most affluent individuals to Sanya city in the ‘Chinese Riviera’ of Hainan Island.
This year’s edition had twice as many exhibitors as last year’s Hainan Rendez-Vous, and generated several billion RMB worth of transactions. Continue reading →