Luxury Brands Attract Customers In China

In September, Hermes, the first Shanghai flagship store, made a brand name for China.

According to Ellens, an investment columnist (Brett Arends), luxury goods stocks are quite popular this year. performance 。 What is driving them? The answer is Asian consumers.

A fund manager mentioned in the article said that the Greater China region, including Hongkong and Taiwan, accounted for 11% of the total expenditure of luxury goods. He also said he expected China to replace Japan next year to become Asia's largest luxury consumer.

Those of us who are concerned about the situation in Asia have clearly noticed this trend. But every company has its own way. How do they capture business opportunities in this affluent area? Here are some details:

BMW announced last week that its sales in China in the first 11 months of this year have doubled since last year's sales in. Meanwhile, its rival, luxury car maker Audi (Audi), the leader of China's high-end car market, said its sales grew by 50% over the same period. Peter Schwarzenbauer, Audi sales director, said we believe that the real prosperity of the Chinese market has not yet arrived. Schwarz Bauer Both companies are specializing in the production of extended version cars for Chinese buyers. automobile With longer wheelbases, they plan to let private drivers drive for them.

Coach, a high-end handbag retailer, plans to open 25 new stores in China by the end of the fiscal year in July next year. The chief executive, Lew Frankfort, says that geographically, China represents the largest single opportunity of the company. "Frankfurt," he said.

Porsche (Porsche) will launch a limited edition of its 911 models at the Guangzhou motor show at the end of this month. China A car launched by the market. The model will produce only 188 vehicles, and the price of each vehicle is expected to be $225 thousand.

Tiffany (Tiffany & Co.) said sales in the Asia Pacific region (excluding Japan) increased by 31% in the first nine months of 2010 compared with the same period last year. By contrast, the growth rate in the North American market was more moderate, at 12%. In a recent earnings call conference with analysts, the company said that Tiffany's position as a diamond authority in China is growing, and it plans to double the number of stores in China in the next few years.

Hermes launched its brand name "up and down" for China, and opened its flagship store in Shanghai.