While the luxury good suffer from the anti-graft crackdown, what the Chinese buy, they buy increasingly abroad, says China Rich List founder Rupert Hoogewerf at the presentation of his eleventh Hurun Best of the Best Awards 2015, a benchmark for the luxury sector, according to the Shanghai Daily.
Category Archives: luxury
Luxury spending might have been hit by Xi Jinping´s anti-corruption campaign, but travel is on the way up. Rupert Hoogewerf just published his 5th China Luxury Travel Report and sees the super rich spending more time and money on more trips. Technology and luxury travel agencies set the trends, he tells Thoughtful China.
Going cheap is no longer the prevailing trend among China´s consumers, as especially the younger ones, who have traveled a lot, look for good quality, says retail analyst Ben Cavender in the International Business Times.
Retail in Hong Kong faces a crisis now mainland shoppers vote with their feet. But Italian luxury lingerie brand La Perla opens a new flagship store in the embattled city. WSJ wealth editor Wei Gu tells in the Wall Street Journal what is happening.
When you want to buy luxury goods in Asia, better not do it in Shanghai. China´s second largest city has become the most expensive, writes WSJ wealth editor Wei Gu in the Wall Street Journal, based on the the 2015 Lifestyle Index by Swiss private bank Julius Baer.
China´s rich are perceived to be stingy when it comes to charity, but they do spend. Rich List Hurun founder Rupert Hoogewerf published his annual top-100 Philanthropists and explains to Barrons how they spend their givings. Jack Ma again keeps the top position.
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.
Prices of luxury consumer goods have dropped for the first time in eight years, according to the Hurun Luxury Consumer Price Index, an annual study that gauges levels of top-end individual spending in China , writes the China Daily. Lowering of the prices is one of the reasons, says Hurun founder Rupert Hoogewerf.
Spending patterns of the super-rich have change a lot, tells business analyst Shaun Rein at CNN, Now they focus on both art and exclusive travel. Sales of luxury goods are dropping, and many blame Xi Jinping´s anti-corruption drive, but the rich just make different choices, says Rein.
Fast moving changes among China´s ultrarich, business analyst Shaun Rein noted when he recently joined a millionaire on a trip to South Africa. Travel is hot for the rich, sharing their experiences over WeChat. Bling is out, feeling good is in, he tells at CNN.