Beyond Bling; Luxury Goods in China  

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Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 407 no. 8839 (Jun. 2013), page 54-55.
Topik: Luxuries; Business Conditions; Trends; Market Strategy; Wealth; Affluence; Statistical Data

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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From 2007 to 2011 many luxury-goods firms enjoyed double-digit annual growth in China, which became their most important market. The first blows came last year, with an economic slowdown and jitters about the political transition. Now, a crackdown on corrupt gift-giving and a populist backlash against ostentation have added to the woes. But Andrew Keith of Lane Crawford, a high-end department store that first opened in Hong Kong in 1850, reports no slowdown at his stores there or in Beijing. Burberry, a British fashion brand, enjoyed sales growth in China of about 20% in the year to March. Sales of private jets in China are still soaring. It seems that China remains the biggest prize in the luxury industry, but the low-hanging fruit is gone. Luxury firms must now venture beyond the coastal cities where they have made easy fortunes, cultivate new types of customers and market niches, and experiment with new business models. China's rich are travelling more and farther, and do lots of luxury shopping on their travels, especially in Europe. To make the most of this trend, firms need to rejig their shops worldwide.

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