China has banned the US accounting watchdog PCOAB from peeking into the papers of Chinese companies, fearing infringement of state secrets. Accounting professor Paul Gillis sees, in his weblog, a new front, as Kering, parent of Gucci, asks a US court to demand the book of the Bank of China.
Category Archives: Gucci
The anti-corruption campaign by President Xi Jinping has hit entertainment and the gift industry hard over the past years, tells Hurun Rich List founder Rupert Hoogewerf in the Financial Review and details the fallout. “We have seen the emergence of the so-called affordable luxury brands like Coach or Michael Kors.
Some luxury brands have been slashing prices to keep their Chinese customers. But as a fuchsia Hermès Birkin bad with diamonds sets a record price in Hong Kong, WSJ wealth editor Wei Gu wonders in Marketwatch whether luxury goods are really in the doldrums.
Europe has been a traditional winner in China’s luxury market, but both brands and countries are losing market share to Asia, and to a lesser degree to the US, discovers WSJ wealth editor Wei Gu in a discussion with HSBC’s Erwan Rambourg. Chinese travel more, and discover more and existing products.
Shopping in a secluded environment of private houses for sometimes personalized high-end items adds a new feature to the way how wealthy Chinese prefer to spend their money. Retail analyst Paul French comments in the Sydney Morning Herald on a new feature.
Bag-seller Gucci bought a majority share in Chinese jeweler Queelin to enter a new segment of the luxury market. A smart move, says business analyst Ben Cavender in Business Week, as jewelry might be the next big thing for Chinese consumers.
China’s government is trying to change its economy from export and investment oriented into a consumer nirvana. Unfortunately, writes retail analyst Paul French in Channel4, corruption and inflation hinder that policy greatly. What will the upcoming CCP-congress bring?
Some luxury brands keep on growing, despite a recession. Hermes expects to grow, also in the upcoming five years and Ben Cavender, principal at the China Market Research Group explains on China Daily why.
Previous darlings of the luxury industry like Louis Vuitton, Gucci, Omega, Versace and Hugo Boss are out of grace, as the country’s really rich focus on high quality, the real stuff, in stead of those parvenu brands. Hurun founder Rupert Hoogewerf explains in the China Daily what has changed.