China Luxury Briefing Monthly Roundup – June 2023

Market Updates

Major Chinese cities see a full recovery in holiday consumption to pre-epidemic levels during Dragon Boat Festival

Major Chinese cities including Beijing and Shanghai have seen a full recovery in the tourism and consumption sectors during the recent three-day Dragon Boat Festival holidays. The National Development and Reform Commission said earlier in June that it would accelerate the formulation and implementation of policies to restore and expand domestic consumption.

Bain & Co.: China continues to drive luxury growth in 2023

According to Luxury Goods Worldwide Market Study – Spring 2023 released by Bain & Co. and Altagamma, the market in Mainland China, which saw Q1 growth, is expected to rise again this year, with some brands back to 2021 levels.

China to promptly formulate policies to restore, expand consumption: top economic planner

China will promptly formulate policies that restore and expand consumption, continuously improve the consumption environment, and release the potential of service consumption. There was significant improvement on contact and aggregate service consumption such as catering and tourism, and it is expected that consumption will play a greater role in driving up the economic recovery growth.

Digital Innovation

“Honor of Kings” collaborates with BVLGARI to create its first digital jewellery skin

BVLGARI and Tencent mobile game “Honor of Kings” announced a cooperation to jointly create the first digital jewelry skin. The official warm-up video showcases a gold plated and diamond studded ring, bringing a unique visual experience. BVLGARI from Rome will travel through time and space and integrate into the digital world of “Honor of Kings”.

Sephora unveiled its first store of the future in Shanghai

At the Future Store in Shanghai, consumers can enjoy personalized services and courses tailored to their needs, as well as digital touchpoints. There is also makeup analysis service by AI in the store, which can generate makeup trends, provide inspiration and tutorials for the latest beauty styling, and recommend products.

Sephora’s Store of the Future in Shanghai Leverages Advanced Beauty Tech and Digital Tools to Present the Exclusive 7 Touchpoints

LVMH and Epic Games announce strategic partnership

At the Viva Technology show, LVMH announced a partnership with Epic Games, creator of Fortnite and Unreal Engine, to transform the Group’s creative pipeline and bring customers new types of immersive products discovery experiences.

Fashion

Louis Vuitton collaborates with 3 coffee shops in Shanghai

Louis Vuitton has collaborated with three coffee shops, Manner, Plusone, and Metal Hands, to create a unique “Coffee & Pop-up Newsstand” experience. Each of the three pop-up shops is designed with a specific color theme – blue, yellow, or red. Customers who purchase two books from the newsstand can also receive a LV gift bag as a special offer.

Canada Goose officially kicks off Sanjiangyuan Corporate Social Responsibility Project

Canada Goose partnered with Shanshui Nature Conservation Centre to launch a nature experience and community engagement project in the Yangtze River Source Area Model Village in Sanjiangyuan National Park.

Lululemon cooperates with the Soong Ching Ling Foundation to launch a project caring for left-behind children

Lululemon announced a partnership with the Soong Ching Ling Foundation to launch a project aiming at caring for “left-behind children”. The first phase of the project was officially launched in Hebi (鹤壁), where Lululemon provided comprehensive training on children’s mental health.

Coach launches 2023 China Cool Project Exhibition with Donghua University

Coach and Donghua University launched “China Cool” Young Talent Development Project, encouraging young students to further explore the fashion industry, and organized a design exhibition of the project.

Tory Burch announces that Qin Lan (秦岚) becomes its new brand spokesperson

Tory Burch announced that actress Qin Lan (秦岚) as its brand spokesperson, appearing in the latest advertising campaign for the 2023 early autumn collection. Qin is an actress with 15.8 million followers on Weibo.

Personalized service surges on Tmall Luxury Pavilion during “618”

During this year’s “618” shopping festival, there was a significant increase in the number of consumers using personalized services on Tmall Luxury Pavilion. The usage of Cartier’s “1V1 Video Consultation Service” was five times higher than usual, with a conversion rate 4.5 times higher than that of text-based customer service. Gucci also saw a nearly three-fold increase in sales volume through its “1V1 Video Consultation” during the “618” period.

Jewellery

De Beers Jewellers announces that Zhao Liying (赵丽颖) becomes its new brand spokesperson

De Beers, the luxury diamond jewelry brand based in London, announces that Zhao Liying (赵丽颖) becomes its new brand spokesperson. Zhao Liying (赵丽颖), who owns 91 million followers on Weibo, is a well-known Chinese actress who has gained immense popularity and recognition for her excellent performances on both film and television.

Tiffany announces Angelababy as its spokesperson of T collection

Tiffany announced Angelababy as its spokesperson of T collection. Angelababy is a popular actress, who has more than 105 million followers on Weibo.

Piaget collaborates with the 25th Shanghai International Film Festival

Piaget collaborated with the 25th Shanghai International Film Festival. As the official partner and jewelry brand, Piaget presented “PIAGET Extraordinary Night” special event in Shanghai.

Hospitality

The Ritz-Carlton Reserve hotel, Rissai Valley, opens in Jiuzhaigou

The Ritz-Carlton Reserve Hotel, Rissai Valley, is the first Ritz-Carlton Reserve in China and sixth Ritz-Carlton Reserve worldwide. The hotel offers guests an immersive experience of Tibetan and Qiang cultures, as well as local cuisine.

Travel

DFS and Ctrip Global Shopping start their strategic cooperation

DFS, part of the LVMH Group, the world’s leading luxury travel retailer, and Ctrip Global Shopping signed a strategic partnership agreement in Shanghai. The two companies will collaborate on marketing services, online experience upgrades, membership reciprocity and other aspects.