Why now is the perfect time for new brands to invest in China, says strategy firm’s CEO
Companies can also arm themselves during uncertain economic times, Daniel Langer, of Équité, tells New York business event
This article was originally written by Ruonan Zheng for Jing Daily
Now is the perfect time for new brands to break into China, according to the CEO of American luxury lifestyle and consumer brand strategy company, Équité.
Daniel Langer, who is also the firm’s founder, also revealed how brands can arm themselves during uncertain economic and political times during a talk at the first of a series of CEO bi-monthly gatherings in New York.
Langer, who has advised luxury brands such as carmakers Maserati and Ferrari, and has contributed to publications including The Economist and Jing Daily, was guest speaker at the event, attended by invited industry experts and professionals.
In a Q&A with Ruonan Zheng, Langer explains his ideas.
How can luxury brands build strategies to be more resilient to macro trends such as the China-US trade war and the slowdown of the Chinese economy that is taking place now?
Well, luxury overall is more recession-proof, but while the top consumers will continue to buy, those who are affected by the economic downturn are occasionally luxury buyers.
With that being said, brands with a super-sharp profile, meaning they have defined objectives like “what do you sell, what do you inspire?” very clear, will be more likely to succeed, even in a tough situation.
So for brands that haven’t established a ‘sharp’ profile in China, is now a bad time to invest in this market?