Last year 67 percent of luxury products purchased by mainland Chinese were acquired outside the country, according to Bain. Sales Contribution Keeping mainland consumers spending is key for makers of luxury brands because China now accounts for a major portion of their sales. LVMH Moet Hennessy Louis Vuitton SA got about 30 percent of its 2013 revenue from Asia , excluding Japan , while Kerings luxury unit got 31percent of sales from the region, according to data compiled by Bloomberg. Neither company breaks out China sales. About a quarter of fiscal 2014 sales at Cie. Financiere Richemont SA (CFR) , owner of tony brands such as Cartier and Piaget, came from China and Hong Kong. A record number of luxury brands approached website Glamour Sales China this year about running flash sales online events held over a few days, said Chief Executive Officer Thibault Villet. The Shanghai-based Frenchman quit as Coachs president for Greater China in 2009 to start the website, which sells off-season products from Fendi, Tods, Dolce & Gabbana , and other luxe brands to its 4million Chinese members.
China Fashionistas Get Best Deals on Gucci, Hermes Bling – Yahoo Finance
Key areas of concentration are consumer products, retail, luxury, healthcare and automotive. I have completed projects and campaigns for more than 200 multinational as well as small and medium sized enterprises in China. I was previously managing director of China BrightStar, a china-focused consulting firm, and VP at Beijing Gongmei, a Chinese manufacturing conglomerate. I regularly appear in the media and am a frequent speaker at conferences, universities and special events providing insight on Chinese business, politics and culture.
Why COACH, Michael Kors, Apple, GM and New Balance are Succeeding in China – site internet Forbes
Hidden Events “In the past few months, we’ve signed deals for the first time with brands that didn’t work with us for the previous four years,” said Villet, who also introduced “hidden events” this year, restricted to VIP customers and catering to brands that didn’t want public sales to tarnish their image. Some recent rounds of discounting have been low-profile, with word of private sales conveyed to regular customers through personal mail, text messages to their mobile phones, or popular online messaging apps such as Tencent Holdings’ WeChat. Cartier, the maker of $50,000 watches, sent a WeChat message in June telling some of its customers about a “high jewelry exhibition” with “all pieces at Hong Kong prices” in North China. Customers could follow up with a salesperson for details. Luxury Outlets A spokeswoman for Hermes said April’s Hangzhou sales were held outside its own stores, similar to what it does in Paris, and the brand has organized such sales in past years in Beijing and Shanghai. A Richemont spokesman said the company doesn’t comment on specific markets, while Ferragamo and Zegna staff were on summer holiday and couldn’t respond to questions about the sales.
The Best-Selling Luxury Handbag Designers In Each Major City | StyleBlazer
With the dirth of brands fighting for a stake in the space, and the demand for goods overpowering the supply , its interesting to see which luxury handbag brands are keeping up despite the madness. In a report done by Fashionista in conjunction with online consignment start-up TheRealReal , they identified the top selling handbag designers broken down by city. Their findings do a great job of identifying what brands are trending around the country, and while most of the report is pretty predictable there were a few surprises. Click on the next pages to see which brands reign in cities like New York, San Francisco, Miami and more! 1