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CHINA’s LUXURY SUMMIT 2014
“The 9th China Luxury Summit 2014 is the place for regional and global industry stakeholders to get up to date with the latest China luxury developments as well as to network with like-mind executives.”
China’s role in the...

CHINA’s LUXURY SUMMIT 2014

“The 9th China Luxury Summit 2014 is the place for regional and global industry stakeholders to get up to date with the latest China luxury developments as well as to network with like-mind executives.”

 China’s role in the global luxury market is becoming more significant every year. With more than 90 % of the world’s leading luxury brands operating stores in China, diverse sectors of the luxury industry are enjoying growth and encountering new challenges to face. However as China’s  market is also becoming more and more mature predominately in the 1st tier cities ( Shanghai , Beijing etc.) many companies now face the challenges of re-adapting their strategy to suit the new and evolving Chinese consumer.

Leading players of China’s Fashion, lifestyle and luxury market have reunited together to discuss about new digital and innovative strategies, effective O2O solutions as well as presenting the latest SM trends in the market. 

The VP of Kering Group China introduced his nationwide strategy as well as opportunities and characteristic of the evolving luxury market. One of the biggest opportunities to expect is the rise in Chinese Luxury Designers  and brands to play a large part of the market share within several years. This also states the recent Kering acquisition for the Queelin Brand.

CEO China, Mark Israel, of Value Retail Group introduced their major projects in the development of Chinas shopping tourism industry such as Shanghai Village opening in 2015. They are currently planning 7-8 new outlet markets in China oriented towards VIP services and a true shopping experience and service for their clients. “We can observe a new growth trend for the Chinese consumer going from pure buying to the shopping experience” Israel says.

Regional director of Follie Follie, Aris Maroulis, introduced interesting insights on the changes in behavior of the Chinese consumer from north to south and west to east as well as their tastes and preferences with respect to their product lines. He also showcased the challenges brands are facing regarding renting retail space and franchising in China which is becoming more difficult every year.

Managing Director of Ralph Lauren Watch and Jewelry, Francis Srun, spoke about the sales techniques for luxury brands to adopt for the Chinese market as well as discussing the difficulties faced to keep “Talent”. He also explained the subtle relations and techniques between the Sales Advisor and the Customer.

Executive Director, Wang Jun from L Capital ( LVMH Group) , presented their private equity fund expertise and future plans in terms of distribution, partnership and acquisitions for Fashion brands entering China. They also showed successful case studies they undertook such as the Singaporean brand, Charles and Keith, where they helped the brand from its collection architecture and sales to the distribution and Franchise process. 

East Asia GM, Grace Zhang, from Baidu, China’s “Google” search engine, spoke about Big data and its correlation to sales and luxury brands. According to her “ the SEO Search engine data, for luxury brands, has a direct correlation with the amount of sales, especially regarding the luxury car industry such as “ BMW, Audi, Mecedes”.

With Chinese luxury consumers maturing and changing at a great speed, brands must magnetize new opportunities for future growth. Lastly, the 3 main growing trends that are occurring in the Fashion industry are:

  1. Brands focusing more heavily on 2nd and 3rd tier cities do to the higher ROI and lower costs
  2. Creating new innovative digital strategies via CRM and GEO Location
  3. Creating a new customer experience going from buying to shopping
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