While in traditional markets luxury car makers might still be feeling the effects of the world financial crises of 2008, in mainland China things have never been better with astonishing growth figures being recorded as the nation’s new wealthy treat themselves to the world’s most high-end modes of transport.
The likes of Bentley, BMW and Audi are currently undergoing massive expansion throughout China and it appears the bigger the car the better as far as the Chinese are concerned.
Hence Rolls-Royce sold 500 cars in Great China (China, Hong Kong, Taiwan) in the first 10 months of this year and predicts it will sell 800 in the next 12 months. Continue reading →
Hublot opened its first flagship store in Beijing on Nov. 29, 2010 and announced Jet Lias the first Asian ambassador for its brand.
The new Hublot store in Beijing has an area of 100 square meters and is located at the entrance of Wangfujing Street in the Oriental Plaza, one of the most prosperous iconic shopping malls in downtown Beijing.
The flagship store in Beijing is the third Hublot boutique in China, following the first at Plaza 66 in Shanghai and the second at Intercontinental Hotel in Dalian. Continue reading →
“In view of the increasing enthusiasm for online shopping and the growing importance of the Chinese market, I have decided to open an Emporio Armani online store in China,” Armani was quoted as saying in a statement.
“We have identified a significant group of consumers who will certainly appreciate this new approach to shopping, one that becomes more popular every day”. Continue reading →
China’s ever increasing economic clout has again been reflected in a survey on consumer tastes in luxury goods which has shown the nation not only knows what goods it wants, it most certainly now has the means by which to buy them.
A report released this week by Bain & Company has claimed China is now the fastest-growing consumer of leather goods and jewelry worldwide.
Its overall luxury market has grown 23 per cent this year, meaning it’s on target to reap some 84.3 billion yuan (9.2 billion euro).
But what the world really wants to know is what are the Chinese after. According to this report, Louis Vuitton, Chanel and Gucci are the most lusted-for brands. Continue reading →
They already drive flashy cars, wear expensive watches and eat at top-end restaurants. Now rich Chinese businessmen have found a new way to flaunt their wealth –Â luxury boats.
“They want to go out on the ocean and have fun — and take VIP clients to fish and negotiate deals,” said Zheng Weihang, secretary general of the China Cruise and Yacht Industry Association.
With the second-largest number of dollar billionaires in the world after the United States, according to Forbes magazine, China is drawing eager foreign marina developers and boatmakers to its shores to tap the fast-growing market.
Major hotel brands have been unveiling expansion plans in China at a key conference over the past week.
Many chains are planning to considerably beef up their presence in the country, with a series of deals unveiled this week at the Hotel Investment Conference Asia Pacific.
Hyatt announced a total of 11 new properties, confirming that four new hotels would be opened next year in Ningbo, Jinan, Guiyang and Qingdao, a mix of areas designed to target both business and leisure travelers. Continue reading →
The Hainan Rendez Vous, Asia’s first and only exhibition exclusively dedicated to business jets, large yachts and luxury lifestyle will return from April 1st to April 4th 2011 at the Visun Marina in Sanya (Hainan Island, China). Continue reading →
Hermes has opened its first boutique for its new brand Shang Xia — a bold strategy that highlights China’s growing importance to luxury goods companies.
“We are very moved — this is like the birth of a child,” Hermes chief executive Patrick Thomas said ahead of the inauguration of the shop in Shanghai.
The store, a picture of minimalist chic, offers clothing, home furnishings, shoes and tableware — a collection inspired by tea, and made from traditional Asian materials such as bamboo, cashmere and porcelain. Continue reading →
Luxury hotel chain Shangri-La announced that it would be coming to its namesake region in China September 9 — but is Shangri-La’s Shangri-La the real deal?
The chain has broken ground on a 230-room city resort in Diqing, a city in Shangri-La country in the Chinese province of Yunnan, set to open in early 2013.
The new low-rise resort will feature guest rooms that average 40 square meters in size and several Chinese and speciality restaurants, along with a health club, spa and beauty salon and indoor lap pool at the hotel. Continue reading →
Champagne corks are popping again in the luxury business as “It” bags and expensive watches this year sell like hotcakes from Beijing to New York, signalling the turning of a page after the global financial crisis.
As the owner of Gucci and Yves Saint Laurent, French luxury goods giant PPR, on Friday joined a string of high-end brands reporting ballooning 2010 profits, firms and consultants predicted rosy days ahead for luxury goods.
“The recession’s starting to look like an old memory for the luxury industry,” said analyst Matthew Curtin, quoted by Dow Jones Newswires.
Euromonitor has predicted that by 2020 China will be the world’s largest economy and that young Chinese, who already account for 25% of the world’s luxury market, will drive household consumption. Continue reading →
With pet ownership on the rise in an increasingly affluent China, savvy entrepreneurs are opening animal spas offering dogs a full makeover — even transformation into a panda.
Sun Ruowen opened her pet salon in central Beijing in May. Already, dozens of customers wanting to pamper their pets — mainly dogs — have bought pre-paid service cards which can cost more than 1,000 dollars.
“People are spending more money these days, and more and more people have dogs, so I decided to open a top-end pet store which offers luxury services such as spa and massage”. Continue reading →