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China Luxury Briefing Monthly Roundup – August 2023

Luxury Conversation by Luxury Conversation
September 11, 2023
Market Updates

Chinese Valentine’s Day sees sales up as sweet hearts splash out

China’s Qixi Festival, or the Chinese Valentine’s Day, saw surging sales of flowers, milk tea and gold jewelry on August 22 as many couples marked the festival with dining and exchanging gifts.

Luxury market to shine on booming demand from consumers

The luxury sector is poised to shine brighter this year as a strong performance in the Asia-Pacific region — led by the Chinese mainland and neighboring markets where first- and second-quarter sales surged — promises to propel the sector’s global growth to 5 percent to 12 percent, according to recent industry studies and company performance reports. The luxury market is expected to continue its growth trajectory in China.

Digital Innovation

The scale of RED’s e-commerce buyers and store owners has grown 27 times

RED COO Ke Nan recently released a set of data: among the daily active users on RED, nearly 40 million users express purchase intentions every day. In the past year and a half, the scale of RED’s e-commerce buyers and store owners has grown 27 times, while the number of purchasing users has increased 12 times.

Gucci celebrates China‘s Qixi festival with a new JD flagship store featuring technology

In celebration of Qixi, also known as Chinese Valentine’s Day on August 22, Gucci officially debuted its JD flagship store, integrated with cutting-edge technology. The online flagship store supports AR, VR, and 3D solutions, providing 360-degree product views and a virtual try-on feature.

Fashion 

Salomon introduces its inaugural capsule collection exclusively for China

Salomon launched its first-ever limited edition capsule collection exclusively for China, named “Mountain Summons” on August 28th. This collection takes inspiration from three renowned Chinese peaks.

Christian Louboutin announces Esther Yu as brand ambassador

Christian Louboutin, a luxury footwear brand, announced Esther Yu (虞书欣) as its brand ambassador. Yu is a popular actress and singer who owns 21.9 million followers on Weibo.

Versace utilizes Douyin livestream to sell its products

Versace conducted 6 livestreams on Douyin e-commerce to promote and sell Versace Jeans Coutureproducts. This series of livestreams marked Versace’s first venture into Douyin livestream since the opening of its official flagship store on Douyin one year ago.

Off-White collaborates with TFBOYS

Off-White officially announced its cooperation with TFBOYS, a prominent Chinese boy group, to introduce an exclusive custom “Out Of Office” sneaker collection. This collection features three distinct colors, each corresponding to a different member of the group.

Beauty

Aesop enters SND concept store in Sanya

SND boutique, a popular designer concept store in China, has announced that Aesop has entered its Sanya store.

BYREDO Shanghai Plaza 66 flagship store unveils its refreshed opening

BYREDO collaborates with artist Mao Guanshuai(毛冠帅) for the grand reopening of its flagship store at Shanghai Plaza 66, featuring seven specially crafted sculpture pieces.

Watches & Jewellery 

Pomellato announces Liu Yuning as brand ambassador

Pomellato announced Liu Yuning(刘宇宁) as brand ambassador on July 24th. Liu Yuning is a well-known singer and actor, who has 17.53 million followers on Weibo.

 

 New Opening and Launches  

Swarovski‘s “Masters of Light” 2023 global exhibition will commence with its opening in Shanghai

Prada Beauty’s world-wide first pop-up landed in Hangzhou

FENDI Casa opened its first flagship store in China in Shanghai

Make Up For Ever launched Dreamland make-up art exhibition in Zhang Garden, Shanghai

Frederic Malle launched a Café Society pop-up in collaboration with %Arabica in Shanghai and Chengdu

Aesop opened its new store at Jing An Kerry Center in Shanghai

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Cultural Engagement in the Age of Transformation | Aaron Lau of Gusto Collective

‌‌The Luxury Conversation is a platform curated by Gusto Collective for luxury professionals to connect, share and discuss Asia’s luxury industry and its rapidly evolving affluent consumers.

Gusto Collective is Asia’s leading Brand Technology group – delivering best-in-class storytelling and immersive experiences powered by the latest technology. Gusto is a leader in determining the future of next-gen customer experiences that are increasingly operating within the spheres of AR/VR, the metaverse, NFTs and Web3. The company was founded in January 2020 by technology and marketing veteran Aaron Lau, a renowned business leader. It offers four core service specialisms: luxury brand management, a VR/AR experience platform, Web3 turnkey solutions and a metahuman marketing platform. Gusto Collective employs more than 170 full-time “Gustodians” across four offices in Hong Kong, Shanghai, Tokyo and London.  

The company has garnered widespread industry recognition as one of Forbes Asia’s 100 to Watch and as a TADs multi-award winner for excellence in NFT Innovations. Gusto Collective completed its seed plus fundraising in 2022 at US$23 million, with Animoca Brands and Gaw Capital leading the round.

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