In “Chinese Whispers,” we share the biggest news stories about the luxury industry in China that have yet to make it into the English language. In this week’s edition, we discuss: Luxury handbags sell out at Costco in Shanghai Yoox and Alibaba’s joint venture, and & Other Stories opens on Tmall Hermès and Burberry handbags […]
Monthly Archives: August 2019
Which Platform Will Be China’s YouTube for Vloggers?
This post originally appeared on RADII, our content partner site. Being a vlogger — a person who films video blogs — or a “YouTuber” in general is one of the most popular lifestyle choices among young people who want to share their lives, thoughts, and expertise with an online audience. Moreover, this emerging industry is a […]
Trade War, HK Protests Force Tiffany & Co. to Change Course
This week, Tiffany & Co. released its quarterly earnings, and similar to what we’ve recently seen in earnings reportsfrom luxury groups such as Richemont and Swatch Group AG, it’s become clear that the ongoing U.S.-China trade war and Hong Kong unrest is impacting the bottom line for luxury brands across the board. Tiffany, which heavily […]
Fast Fashion Must be High-End to Compete in China
Overseas fast fashion brands have been struggling in the Chinese market over the last two years, and with significant profit drop-offs, stores like H&M to Forever 21 are pulling back on planned expansions in the country. According to its annual report, H&M’s net sales growth in mainland China slowed from 7 percent in 2016 to […]
How to Earn Brand Loyalty From China’s Millennials
China has proven a difficult market for brands seeking customer loyalty, particularly amongst China’s millennials. According to the Mckinsey China Luxury Report 2019, 30 percent of post-80s-born luxury shoppers regularly buy products outside from their preferred brands, while that rate jumps to 52 percent with post-90s-born shoppers. “[Chinese consumers] tend to be less loyal compared […]
7 Reasons Why US Retail Can No Longer Rely on Chinese Travelers
For the U.S. retail industry, 2019 will most likely be a year of turbulence, and those retailers who’ve been relying on Chinese travelers for growth might need to change up their strategy. Macro factors, such as the ongoing U.S.-China trade war and China’s economic slowdown, have helped shape this new landscape. Statistics show that the […]
Clipper Ventures CEO William Ward on Global Race’s China Love Affair
Since Qingdao joined the 2005 Clipper Race as a dress rehearsal for its role as China’s Sailing City in the 2008 Olympics, the country has developed a love affair with what’s known on the mainland as the ‘people’s race’. The 2005 edition also marked the introduction of the fleet of Clipper 68 yachts built in […]
Young Chinese Want ‘Green’ Beauty (But Who Will Give it to them?)
The future of beauty in China is green. However, a recent report by AlixPartners demonstrates that cosmetics brands chasing the Chinese market with natural, clean, and ethically sourced products must navigate a complex web of consumer aspirations, purchasing behaviors, and product definitions to find success. The report, titled Naturally Beautiful: Millennials and Preferences in Beauty […]
Successful “Heritage” Marketing Resonates with Consumers in China
Heritage brands need legacy to communicate and sustain their premium value. But businesses build legacy over a period of time, letting it grow organically with the brand. The challenge is that in our fast-paced society, when most aspects of our lives are dictated by a self-destructive speed, patience becomes a virtue that many startups can’t […]
China’s Wine Market Looks “Corked” for Importers and Retailers in 2019
After well over a decade of unbridled optimism, China’s wine market appears to be facing a much more uncertain road ahead. According to a recent piece by Jim Boyce, the 9 percent slide in demand for bottled imports in 2018 has continued into this year, with imports down 14 percent by volume and 20 percent […]