Category Archives: Paris

Luxury brands have been overcharging Chinese customers – Wei Gu

Luxury brands have systematically been overcharging their Chinese customers by a margin of over 60%, tells WSJ wealth editor Wei Gu. They blamed high import taxes for the difference with prices in Paris, but also China-produced luxury cars are 64% more expensive than abroad.

What are Chinese tourists buying? – Wei Gu

Chinese tourists have taken over cities like Paris and Milan, purchasing large amounts of luxury goods. WSJ’s wealth editor Wei Gu gives a few tips for foreign companies. Stay out of China, and do not expect to make money on food and hotels.

Chinese shoppers fund French luxury tycoons – Rupert Hoogewerf

The world’s most successful luxury tycoons can be found in Paris, like Bernard Arnault of LVMH and Liliane Bettencourt of L’Oreal. Most of the luxury goods market is funded by Chinese shoppers, tells Hurun China rich list founder Rupert Hoogewerf in the People’s Daily.

Africa, the new target for affluent Chinese – Wei Gu

Bored with Hong Kong, Milan and Paris, China’s rich are turning to new places, notably in Africa, writes Wei Gu, luxury editor of the Wall Street Journal in Scene Asia. Botswana, Namibia, South Africa and Zambia are on the agenda. 60,000 visited Africa in the first half of 2012, a jump of 68%.

Chinese millionaires swamp Britain – Rupert Hoogewerf

The UK might be lagging when it comes to attracting average Chinese tourists, the country is certainly successful in attracting the wealthy section of the Chinese. Key driver were the Olympics, estimates Hurun rich list founder Rupert Hoogewerf in the Telegraph.

Jewelry, the next thing for Chinese consumers – Ben Cavender

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.

Burberry runs out of steam – Paul French

China’s luxury goods market might still be going strong, despite a dip in the country’s growth. But previously popular brands like Burberry are losing traction, tells retail analyst Paul French in the Huffington Post. But there is still hope.

Helen Wang to visit London, Paris, Europe

Helen Wang, the author of the leading book, The Chinese Dream: The Rise of the World’s Largest Middle Class and What It Means to You, will be visiting London early December on the invitation of Lord Wei. She will also visit Paris and other parts of Europe and is available for speeches.

Millionaires pick UK for their education – Rupert Hoogewerf

Paris might be the hot spot for luxury shopping by China’s rich, when they have to pick an education they go for England’s top universities, especially Eton and Harrow, says Hurun China’s rich list founder Rupert Hoogewerf in The Telegraph.

China’s rich prefer Paris over the US – Rupert Hoogewerf

The Wall Street Journal has more details of the earlier released Hurun report about how China’s rich spend their money while traveling. Tension with France have been forgotten, as Paris has become their most favorite destination. The Hurun report is produced by Rupert Hoogewerf.