Why COACH, Michael Kors, Apple, GM and New Balance are Succeeding in China – Forbes
Cartier, the maker of $50,000 watches, sent a WeChat message in June telling some of its customers about a high jewelry exhibition with all pieces at Hong Kong prices in North China. Customers could follow up with a salesperson for details. Luxury Outlets A spokeswoman for Hermes said Aprils Hangzhou sales were held outside its own stores, similar to what it does in Paris, and the brand has organized such sales in past years in Beijing and Shanghai. Richemont spokesman Alan Grieve said the company doesnt comment on specific markets, while Ferragamo and Zegna staff were on summer holiday and couldnt respond to questions about the sales. A spokesman for LVMH, parent of gorden dan harganya handbag maker Louis Vuitton, said the company doesnt organize discounted sales. Kering declined to comment, and Dior didnt reply to e-mailed queries. Luxe brands excess inventory puts pressure on companies to open more than the current small number of outlet stores in China to sell discounted off-season items, said Armando Branchini , Milan-based vice chairman of Italian luxury brand association Fondazione Altagamma. Such stores tend to be in malls located far from central shopping districts, reducing the potential for harm to brands reputations, he said.
The Best-Selling Luxury Handbag Designers In Each Major City | StyleBlazer
Customers could follow up with a salesperson for details. Luxury Outlets A spokeswoman for Hermes said April’s Hangzhou sales were held outside its own stores, similar to what it does in Paris, and the brand has organized such sales in past years in Beijing and Shanghai. A Richemont spokesman said the company doesn’t comment on specific markets, while Ferragamo and Zegna staff were on summer holiday and couldn’t respond to questions about the sales. A spokesman for LVMH, parent of handbag maker Louis Vuitton, said the company doesn’t organize discounted sales. Kering declined to comment, and Dior didn’t reply to e-mailed queries. Luxe brands’ excess inventory puts pressure on companies to open more than the current small number of outlet stores in China to sell discounted off-season items, said Armando Branchini , Milan-based vice chairman of Italian luxury brand association Fondazione Altagamma.
I provide companies with go to market, expansion, consumer engagement, and supply chain strategies and implementation in China. Key areas of concentration are consumer products, retail, luxury, healthcare and automotive. I have completed projects and campaigns for more than 200 multinational as well as small and medium sized enterprises in China. I was previously managing director of China BrightStar, a china-focused consulting firm, and VP at Beijing Gongmei, a Chinese manufacturing conglomerate. I regularly appear in the media and am a frequent speaker at conferences, universities and special events providing insight on Chinese business, politics and culture. I am currently co-authoring a book on Chinas consumers to be published by J.
China Fashionistas Get Best Deals on Gucci, Hermes Bling – Yahoo Finance
With the dirth of brands fighting for a stake in the space, and the demand for goods overpowering the supply , its interesting to see which luxury handbag brands are keeping up despite the madness. In a report done by Fashionista in conjunction with online consignment start-up TheRealReal , they identified the top selling handbag designers broken down by city. Their findings do a great job of identifying what brands are trending around the country, and while most of the report is pretty predictable there were a few surprises. Click on the next pages to see which brands reign in cities like New York, San Francisco, Miami and more! 1
Likewise, at a downtown Shanghai outlet of Kering SA (KER) s Gucci, a light pink Soho leather shoulder bag was discounted 30 percent to slightly more than 12,000yuan, about the same price as a similar bag inthe U.S., Bloomberg Businessweek reports in its Sept. 1 issue. Several forces are fueling the price slides. Sales in China of goods from Europe s most prestigious fashion houses have been damped by the governments anti-graft campaign, which has curbed gift-giving. And steep import and consumption taxes on luxury goods bought in China have led an increasing number of wealthy locals to shop more while overseas. Left with stacks of unsold merchandise in their mainland stores, high-end brands are resorting to something they rarely had to do earlier: price-cutting. Even during the financial crisis, I dont think we saw this amount of discounting, said Franklin Yao, managing partner of Shanghai-based SmithStreet, which advises companies on their China strategies.
I provide companies with go to market, expansion, consumer engagement, and supply chain strategies and implementation in China. Key areas of concentration are consumer products, retail, luxury, healthcare and automotive. I have completed projects and campaigns for more than 200 multinational as well as small and medium sized enterprises in China. I was previously managing director of China BrightStar, a china-focused consulting firm, and VP at Beijing Gongmei, a Chinese manufacturing conglomerate. I regularly appear in the media and am a frequent speaker at conferences, universities and special events providing insight on Chinese business, politics and culture. I am currently co-authoring a book on Chinas consumers to be published by J. Wiley and Sons in 2014.
LVMH Moet Hennessy Louis Vuitton SA (MC) got about 30 percent of its 2013 revenue from Asia, excluding Japan, while Kering’s luxury unit got 31 percent of sales from the region, according to data compiled by Bloomberg. Neither company breaks out China sales. About a quarter of fiscal 2014 sales at Cie. Financiere Richemont SA (CFR), owner of tony brands such as Cartier and Piaget, came from China and Hong Kong. A record number of luxury brands approached website Glamour Sales China this year about running flash sales online events held over a few days, said Chief Executive Officer Thibault Villet. The Shanghai-based Frenchman quit as Coach’s president for Greater China in 2009 to start the website, which sells off-season products from Fendi, Tod’s, Dolce & Gabbana, and other luxe brands to its 4 million Chinese members.
As they were evolving, the four women sitting together trying to figure out what to do and how they were going to do it, they questioned what they would call themselves. “It’s to the point, it’s what we do, and it brings up an image that’s not negative,” Weir says. “From the beginning, we’ve pretty much only been working with women, which brings up lots of connotations; women’s liberation, women working in World War II and, of course, we actually have a factory.” The name sprouted from Huntz, who kept telling people she was “going to meet with the factory girls.” Thurnher and Weir also researched such organizations as New York’s Council of Fashion Designers of America (CFDA), which has a department for every branch in a fashion designer’s development, and they wanted to have those standards for multiple brands in the South. Currently the staff consists of one pattern maker, three seamstresses, a sewing class instructor, and interns who are responsible for day-to-day operations. “It’s a bunch of women working with us, for us, around us, and supporting us,” Thurnher says. Factory Girls offers membership packages and mentorship opportunities for emerging apparel designers similar to San Francisco’s (FiSF) fashion incubator. In addition, Factory Girls provides networking sessions and other educational seminars like ones offered by CFDA. Factory Girls services include access to the facilities, branding consultations, marketing expertise, and a slew of production- and craft-based seminars.
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