Getting traction from Chinese consumers is increasingly becoming harder for brands. Prada has been investing in its relationship, but has a hard time to become relevant again for their key…
Category Archives: Prada
China state media framed the last week´s Hurun Report on the luxury industry a success for the anti-corruption struggle of president Xi Jinping. But the rich cut back their spending only marginally, and Hurun founder Rupert Hoogewerf calls 2014 even a “banner year”.
Prada is still drawing large queues at outlets in Asia and Europe, those queues are one third smaller than they used to be. Branding expert Shaun Rein sees Prada has more problems with Chinese customers than the ongoing anti-corruption campaign, he tells in CNBC.
Much of the speculation on China’s economic and also political future focuses on the emergence of a middle class. But whatever you call “middle class” in China, is very different from the middle class in the US, warns business analyst Shaun Rein in CNN. In China everybody wants to be rich.
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?
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.
What sets China’s consumers apart from those elsewhere is the high level of ambitions they have. They do not look for something good, they want the best, explains advertising guru and author Tom Doctoroff in the China Daily.
Chinese new year is nearing fast, a traditional gift-giving season. Most of those luxury gifts from China’s rich are foreign, European to be precise, says a study done by Hurun, the research company founded by Rupert Hoogewerf, reports the China Daily. Only Chinese liquor moutai makes it into the top-10.
Prada is not doing as well as Gucci and Louis Vuitton in branding themselves, and Shaun Rein tells at CNBC why he would buy their suits, but not their shares. China might be skipping import taxes on luxury goods for stimulate sales, so having a decent retail operation in China is crucial.