The China Luxury Briefing is a weekly newsletter from The Luxury Conversation. You’ll receive a weekly bulletin of latest China luxury news across different sectors. Below you’ll find a monthly roundup including updates from each of the weekly briefings during the month. To ensure you’re receiving all of the latest China luxury updates, make sure to sign up for the weekly newsletter here.
MARKET UPDATES
Festive buying spree beats expectation, shows Chinese economy’s strong resilience
China’s consumption posted a remarkable rebound during the 2023 Spring Festival (from January 21 to January 28), the most important holiday after the country optimized COVID-19 response in December last year. A total of 308 million domestic trips were made in China during the weeklong holiday, recovering to 88.6 percent of the level seen in pre-epidemic 2019 Spring Festival holiday, according to data from the Ministry of Culture and Tourism released on Friday. Domestic tourism revenue generated during the holiday totaled 375.8 billion yuan ($55.4 billion), or 73.1 percent of the level during the same period in 2019, statistics from the ministry showed.
Senior luxury executives resume business visits in China
Following Kering chairman and CEO François-Henri Pinault’s visit to China, many major luxury companies also appear to have similar plans. It is reported that Johann Rupert, chairman of Richemont will arrive in China this week. Bernard Arnault, chairman and CEO of LVMH and John Idol, chairman and CEO of Capri are also planning a trip to China.
Luxury conglomerates LVMH, Kering cheer return of Chinese consumers
Global luxury conglomerates LVMH and Kering cheered the return of Chinese consumers, expressing confidence in a strong market recovery in China. Kering on February 15 said it has seen an encouraging start in the market so far this year, with better-than-expected retail sales. LVMH also expressed confidence that China’s luxury sales will bounce back this year as the country continues to reactivate business activity.
WEB 3
Calvin Klein enters the Chinaverse with digital wearables and gaming experience
CK launched its Lunar New Year campaign by bringing an interactive gaming experience and the newest CK capsule collection on the Ready Player Me platform. Players can dress their avatars in CK’s outfits and participate in a game to unlock discounts and a variety of prizes, which users can redeem them both in-store and online.
BY FAR launches digital collectible collection “My Planet BY FAR” with Union Pay
Fashion brand BY FAR teamed up with Union Pay to release its space-rabbit digital collectible collection “My Planet BY FAR.” Consumers can purchase digital collectibles using the Union Pay app. Collectors are eligible for a set of exclusive badges which can be redeemed atBeijing and Shanghai flagship stores.
Hublot X Takashi Murakami launch 13 unique NFT artworks
On 2 February, Hublot officially announced its fourth cooperation with Takashi Murakami to launch 13 unique pieces of NFT arts. Art pieces were inspired by 1970s Japanese video games and TV shows.
FASHION
Louis Vuitton announces Jackson Wang as brand spokesperson
On 21 January, Louis Vuitton announced Jackson Wang (王嘉尔) as its brand spokesperson. Jackson Wang is a famous Chinese singer, with more than 30 million followers on Weibo.
Secoo to change its e-commerce operation mode with AIGC and ChatGPT technologies
On 6 February, Secoo announced that it will use AIGC and ChatGPT technologies to change its luxury e-commerce operations.
BEAUTY
Kiehl’s announces Arthur Chen brand ambassador
Kiehl’s announced Arthur Chen (陈飞宇) as its brand ambassador. Arthur Chen is a famous Chinese actor with more than 13 million followers on Weibo.
Chloé announces Xiaotong Guan as spokesperson
On 6 February, Chloé officially announced Xiaotong Guan (关晓彤) as its spokesperson. Xiongtong Guan is a female Chinese actor with more than 34 million followers on Weibo.
Sisley opens its first Asia Pacific flagship store
Sisley recently opened “Maison Sisley” in Shanghai, which combines café, beauty salon boutique and a coffee zone together. “Maison Sisley”, the brand’s first immersive experience space in Asia-Pacific, has two floors with multiple functions.
LIFESTYLE
Rémy Cointreau Group opens DENTREE, the brand’s first sustainability themed bar
Rémy Cointreau Group partnered with Spirits Architects to launch a new bar DENTREE in Shanghai, which is the brand’s first sustainability themed bar. DENTREE aims to set a new example in achieving carbon neutrality for the industry, and at the same time, underscore its continued investment in China.
HOKA ONE ONE announces Xian Li as its first spokesperson
On 15 February, HOKA ONE ONE announced Xian Li (李现) as its first spokesperson. Xian Li is a famous Chinese actor with more than 23 million followers on Weibo.
JEWELLERY AND WATCHES
Due to lockdowns, Chinese gold jewellery consumers are negatively affected
According to Gold Demand Trends Full Year 2022 released by World Gold Council, Chinese gold jewellery consumers were negatively affected due to lockdowns, with the demand declining from 673.3 tonnes in 2021 to 570.9 tonnes in 2022.
NEW OPENINGS AND LAUNCHES
Memo Paris opens its first China flagship store at Shanghai IFC
Ferrari launches Roma to celebrate its 30th anniversary of entering Chinese mainland market
LOEWE X Howl’s Moving Castle opens a pop-up boutique in Shenzhen
The North Face to launch new products in its first cooperation with CLOT
Glashutte opens the first online boutique on Wechat
Japanese beauty brand Shu Uemura opens the first flagship store of China in Shenzhen
JIMMY CHOO X Sailor Moon opens a pop-up space at China World Mall in Beijing
Bally unveils a new boutique at China World Mall in Beijing
About Luxury Conversation:
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.
We curate and highlight topical issues that are impacting the industry and weighing on the minds of our community. From consumer attitudes and trends, to the factors influencing and shaping the market, The Luxury Conversation unpacks the questions of the moment – from China’s luxury consumers and Asia’s economic growth, to the rise of NFTs and the new technologies disrupting the marketplace.
The Luxury Conversation features articles on trends and interviews with industry leaders, publishes newsletters and reports from Gusto Collective’s consulting division, presents industry reports at luxury summits and conferences, and hosts its flagship China briefings and networking events. For more information, please visit www.luxuryconversation.com
