Last month, Secoo held a brand upgrade press conference, to announce their new slogan – ‘Devoted to You’ and to introduce the brand’s expansion plans. Already the leading premium lifestyle platform with over 25% market share, these bold new plans centred on customisation – unique collaborations with Chinese designers and talents, personalisation – high-end travel and personalised education packages, rental – a seven-day luxury bags and watches service, as well as partnerships and co-branding aimed at diversifying Secoo into new products and offline, social experiences. Continue reading “5 Questions with: Richard Li, Founder & CEO of Secoo, China’s Leading Premium E-Commerce & Lifestyle Platform”
It isn’t in any doubt that China is the place to be for luxury brands. How can businesses take the first steps to tapping into this huge market? Thankfully, the opportunity is possible due to China becoming one of, if not the most digitally innovative country in the world.
Here are 8 ways WeChat can work magic — even for a company based outside of China: Continue reading “8 Ways WeChat Can Work Magic for Luxury Brands in China – and Beyond”
The China Luxury Committee event took place on the 18th of May in Shanghai. With expert speakers, the event was attended by an invitation-only guest list, including top-level executives from brands such as Chow Tai Fook, Focus Media, Tmall, Tencent, Gucci, Lane Crawford, Lululemon, Moet Hennessy Diageo, Kate Spade, Michael Kors and many more.
The event was highlighted by keynote speeches and a panel discussion, moderated by Chloé Reuter, Founder and CEO of Reuter Communications.
CEO of Secoo – the leading luxury online platform – Eric Chan gave many insights as to their success. The key aspect to Secoo’s success has been embracing the strength of offline experiences – even as an e-commerce platform, as well as not being afraid of diversification: Continue reading “Expert Insight on the Future of Luxury E-tail in China; the China Luxury Committee in Shanghai”
By Tamsin Smith
It seems not a day goes by without another of China’s e-commerce platforms announcing a luxury initiative, attempting to lure the top brands to their sites with exclusivity, the fight against fakes and seamless logistics services. Many foreign luxury brands, however, are still unclear over the reality of the various apps and platforms in regards to luxury retail; and it’s easy to see why.
We’ve all seen the carefully curated gym pics going out on social media. But more than just a chance to flash the flesh, fitness and exercise have a whole new meaning in China. Fitness is the new status symbol of luxury and wealth.
Bling is tuhao (nouveau-riche and lacking in class), Gucci is ‘something my Mum wears’, and a YSL lipstick is fine for entry-level luxury. But if you want something that says ‘I have plenty of free time, I am as up-to-date as can be with international trends, and I am a class above’ – you want a toned bod with a booty to boot.
A fine physique takes much more money, know-how, and time to build. Shapes and muscles speak of privilege, and are fast becoming a badge of social status itself. A growing segment of China’s young, wealthy class is shifting attention from obvious brand purchase to fitness and bodybuilding. Continue reading “How a Curvy Butt is the New Luxury Status Symbol in China”
A whitepaper issued by Nielson and Alipay (continue reading to view the full report) has revealed further evidence that any brand outside of China cannot afford to ignore the mobile payment preferences of China’s consumers — and, that the numbers of Chinese tourists travelling overseas only continues to rise, maintaining their place as the number one in overseas spending.
The whitepaper compared Chinese and non-Chinese tourist behaviours, and we’ve picked through the report to highlight some key findings. Continue reading “Over 90% of Chinese Tourists Prefer to Use Mobile Payments Shopping Overseas: Survey”
China is where any luxury brand needs to be.
McKinsey’s recent report, What can we expect in China in 2018, gives some details and data on the ongoing rise of digital China.
Investment in global infrastructure and start-ups, investment in culture, better regulations and more is all made possible with a pioneering level of leading tech. Cash is already (as good as) obsolete, with facial recognition for payments and next-gen AI being led by China.
What does this mean for luxury brands? Continue reading “China the Digital Pioneer; How Luxury Brands Should Capitalise on China’s Blazing Online Trail”
No Facebook, no Google, no YouTube. Oh, and no internet/laptop either. Print media? It’s another no, we’re afraid. Even cash is out. So what do China’s luxury consumers use for social, news, browsing, shopping, paying and life?
Last week saw over 150 British brands and several thousand Chinese visitors attend the Best of British exhibition —organised by Media Ten — to network, connect, learn and strengthen partnerships between China and the UK.
The timing was perfect, with Xi’s announcement at the 19th National Communist Congress, taking place in Beijing, that China was continuing to focus on “opening up” for business across the world.
Is the selling power of China’s KOLs (Key Opinion Leaders) changing the nature of Chinese e-commerce marketing?
This past year has seen an explosion in KOLs moving from merely posting branded content, to now helping brands to directly sell product. Last week we saw a prime example of this shift in KOL power when Mini Cooper teamed up with Chinese fashion blogger Becky Li to sell 100 Mini Cooper cars. She leveraged her vast social media following to help the brand sell 100 cars in 4 minutes.
In this issue of The Luxury Conversation, we look at four recent examples of this influence-to-sales shift, and provide tips on how to get the best results from similar partnerships.