• Sun
  • Dec 28, 2014
  • Updated: 5:54pm

Luxury Goods

Shanghai outlet centre to promote affordable Italian luxury

Members of the mainland's increasingly affluent middle class, who are enjoying rising disposable incomes, are seen as the biggest consumers of luxury items. Photo: EPA

Luxury retail is not the most obvious target sector for mainland shopping centre developers in the wake of the Communist Party's crackdown on conspicuous consumption and corruption.

Friday, 28 February, 2014, 12:25am

Prada to open 80 more stores worldwide in next 12 months

Luxury brand retailers will benefit from increased spending by Chinese tourists travelling outside the mainland. Photo: Nora Tam

While it expects growth in the mainland luxury market to slow down, Italian fashion giant Prada plans to press ahead with its strategy of opening more stores around the world, even though analysts warn that could hurt profitability.

15 Jan 2014 - 4:42pm

Hotlines spring up for China VIPs to buy luxury goods amid anti-graft drive

A shopping mall in Shanghai. Photo: Xinhua

I was back in Shanghai for a quick trip recently and dropped by several big shopping centres on Nanjing Road, one of the mainland's busiest streets. Ironically, these shopping centres - and, in particular, the big luxury brand shops inside - didn't look busy at all. They were almost empty.

22 Jul 2013 - 7:25am 2 comments

Hong Kong retail sales climb 21pc as gold falls

Jewellers expect the gold craze, which helped boost overall retail sales by 21 per cent last month, to taper off. Photo: Sam Tsang

Plummeting gold prices brought the city an additional HK$4.45 billion in retail sales last month as consumers took advantage of the slump to snap up jewellery and watches, although jewellers expect the gold craze will now taper off.

31 May 2013 - 5:44am

Has luxury peaked in mainland China?

A man watches in front of a window display outside a Gucci store in Hong Kong January 17, 2013. Photo: Reuters

In China’s tier one and two cities it seems that there is a luxury mall on every street. In Shanghai, for example, the growth and expansion seems endless; on the 20 minute drive from my home to the office I pass three new mall developments – each of them plastered with huge billboards advertising the new luxury stores that are soon to open.

22 May 2013 - 11:51am

Givenchy set to triple number of China stores

Givenchy has seen good growth in Shanghai. Photo: Bloomberg

Givenchy, a unit of French luxury goods giant LVMH, plans to triple its number of stores in China over the next two years as other luxury brands scale back their expansion plans amid an anti-corruption campaign led by President Xi Jinping.

18 May 2013 - 3:57am

Gold hunt: jewellery outshines luxury goods in golden week

Mainland tourists make their presence felt in Canton Road, Tsim Sha Tsui, as they make a bee-line for jewellery shops yesterday. Photo: Sam Tsang

Mainland tourists spent less on luxury products during the first two days of the "golden week" holiday as they remained preoccupied with gold hunting.

1 May 2013 - 7:51am

Wealthy Chinese love French luxury goods

Rupert Hoogewerf, chairman and chief researcher of the Hurun Report, unveils their 'Rich List' at a press conference in Beijing. Photo: AFP

The recently released annual Hurun report usually contains fascinating insights into the antics of the super wealthy in China and this year is no exception.

11 Mar 2013 - 7:32pm 1 comment

Luxury brands still reaping big rewards in China

A worker furnishes a new luxury goods re-seller in Beijing. Photo: AP

The profit margins of global luxury goods retailers on the mainland are so substantial they are shocking, according to an industry insider.

18 Feb 2013 - 5:46pm

Chinese student in France sick of buying luxury goods for other people

People browse for handbags in the Paris department store Galeries Lafayette on January 9, 2013. Photo: AFP

Li Yuandong, 23, remembers buying 10 Burberry scarfs, two Burberry handbags, two Louis Vuitton handbags and some luxury perfumes in one day in Paris without blinking an eye.

22 Jan 2013 - 4:43pm 4 comments

Le Chinese tour de luxe

Mainland Chinese shoppers are bolstering prospects for luxury European brands like Milan-based Prada. Photo: Bloomberg

Move aside Mona Lisa. More Chinese visitors are headed to Paris and they are picking luxury stores such as Galeries Lafayette over visits to the Louvre.

19 Jan 2013 - 5:12am

Britain stores pull out the stops to attract Chinese shoppers

A Chinese couple visiting the exclusive Harrods department store in London consider splashing out on an expensive handbag. Photo: AFP

With their shelves spilling over with festive goodies, department stores in London are working hard to attract Christmas shoppers - but Chinese visitors are the particular target of a charm offensive.

24 Dec 2012 - 5:05am

Swiss watchmaker Parmigiani Fleurier eyes booming mainland market

Jean-Marc Jacot

Swiss watchmaker Parmigiani Fleurier aims to tap into the booming Chinese market with affordable luxury watches.

20 Dec 2012 - 3:19am

Mainland Chinese tourists power global travel boom

Mainland tourists love shopping in Europe because they save against weaker currencies. Photo: Reuters

Mainland tourists made an estimated 82 million border-crossing visits this year, becoming the biggest driver of growth in international tourism.

Dai Bin, president of the National Tourism Administration's China Tourism Academy, said outbound trips by mainland tourists were expected to grow by 16.7 per cent this year from last year's 70.25 million.

14 Dec 2012 - 11:32am

Chinese shoppers 'biggest spenders on luxury goods'

Women try on shoes in Salvatore Ferragamo's London store. Chinese shoppers are the biggest spenders on luxury goods. Photo: Bloomberg

Chinese shoppers this year emerged as the biggest spenders in the global luxury market, thanks largely to their sprees in Europe and the United States.

Shoppers from the mainland, Hong Kong and Macau, accounted for a quarter of global luxury sales this year - for the first time surpassing Americans who bought a fifth of the total, according to global consultancy Bain & Company.

13 Dec 2012 - 3:34am

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