The Bling Dynasty
Why the Reign of Chinese Luxury Shoppers Has Only Just Begun
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Gewicht:
559 g
Format:
235x157x20 mm
Beschreibung:
Why the luxury market's fate rests in Chinese wallets
The media has negatively focused on the Chinese political administration clamping down on gifting. Observers have come to doubt the strength of Chinese consumption as the key driver for luxury. The Bling Dynasty illustrates how doubts about Chinese consumption are ill-founded and Chinese luxury demand is on the cusp of becoming dominant.
This book contains the research and expert views companies need to understand and address the new challenges posed by this dominance. Each chapter brings a different perspective, covering complex aspects of luxury consumption, with illustrations and real-world examples that support the research. Readers will gain insights through interviews with brand executives, retailers, experts, and consumers.
As an economic heavyweight, China is fast realizing its role in the luxury market. Chinese consumers should be accounting for more than a third of the global luxury market today, and half, if not more, in ten year's time. The Bling Dynasty runs counter to the conventional wisdom that expanding sectors become more global. Luxury is actually becoming over-dependent on Chinese sales.
Readers will:
* Understand how Western brands developed in Asia and the challenges they are met with, notably ubiquity
* Learn why Chinese are purchasing luxury items abroad and what it means for the future of the sector
* Gain insights on why there are no Chinese luxury brands challenging Western models
* Realize that Chinese consumers are becoming similar to their American peers and that luxury competition goes way beyond pre-conceptions
China's big spenders are increasingly mobile and this is affecting key markets. The Bling Dynasty provides new research and a comprehensive look at the booming business of luxury and the Chinese wallet.
The media has negatively focused on the Chinese political administration clamping down on gifting. Observers have come to doubt the strength of Chinese consumption as the key driver for luxury. The Bling Dynasty illustrates how doubts about Chinese consumption are ill-founded and Chinese luxury demand is on the cusp of becoming dominant.
This book contains the research and expert views companies need to understand and address the new challenges posed by this dominance. Each chapter brings a different perspective, covering complex aspects of luxury consumption, with illustrations and real-world examples that support the research. Readers will gain insights through interviews with brand executives, retailers, experts, and consumers.
As an economic heavyweight, China is fast realizing its role in the luxury market. Chinese consumers should be accounting for more than a third of the global luxury market today, and half, if not more, in ten year's time. The Bling Dynasty runs counter to the conventional wisdom that expanding sectors become more global. Luxury is actually becoming over-dependent on Chinese sales.
Readers will:
* Understand how Western brands developed in Asia and the challenges they are met with, notably ubiquity
* Learn why Chinese are purchasing luxury items abroad and what it means for the future of the sector
* Gain insights on why there are no Chinese luxury brands challenging Western models
* Realize that Chinese consumers are becoming similar to their American peers and that luxury competition goes way beyond pre-conceptions
China's big spenders are increasingly mobile and this is affecting key markets. The Bling Dynasty provides new research and a comprehensive look at the booming business of luxury and the Chinese wallet.
PRAISE FOR THE BLING DYNASTY "The Bling Dynasty is an insightful read for luxury managers, consultants and anyone who wants to understand consumption trends and China's role in shaping them." Wei Gu, Wall Street Journal editor for China Wealth and Luxury "Erwan Rambourg knows the luxury goods industry inside out. His on-the-ground work in China yields deep insights into the mindset of the local consumer and a clear analysis of the unparalleled opportunities this market offers to attractive, global brands." ClausDietrich Lahrs, Chief Executive Officer HUGO BOSS AG "Through first-hand knowledge and unique facts and anecdotes, The Bling Dynasty provides an in-depth analysis of one of the most important markets for luxury brands, China. Erwan shares his insights with incisive scrutiny and wit, and offers a unique perspective on a sector that is both abundantly discussed yet still filled with misconceptions." Ketty PucciSisti Maisonrouge, Luxury Entrepreneur, Adjunct Professor at Columbia Business School, Associate Professor at IE Business School, author of The Luxury Alchemist "I have been speaking with Erwan Rambourg for years and have benefited considerably from his ideas. Anyone who wants to understand the luxury market must first understand the Chinese consumer. The Bling Dynasty is a must-read for investors, marketers, or anyone who wants a deeper understanding of the future of luxury in China." Robert Dunphy, Portfolio Manager, OppenheimerFunds
Acknowledgments ix
About the Author xi
List of Terms xiii
Foreword xv
Introduction: The New Silk Road xvii
Part 1: West Goes East 1
Chapter 1: Eastern Promises, Delivered 3
Chapter 2: The Only Way Is Up 31
Chapter 3: Another French Paradox 53
Chapter 4: Deconstructing the Myth 75
Part 2: East Goes West 93
Chapter 5: The Trouble with Travel 95
Chapter 6: Why Chinese Travel and Where To 107
Part 3: East Meets East 141
Chapter 7: Are Chinese Brands a Threat to Western Models? 143
Part 4: The World Meets 161
Chapter 8: Pop Culture, Value for Money and Globalisation 163
Cha pter 9: The Chinese Luxury Empire 183
Chapter 10: All In: Coach, Apple and the Cosmetic Surgeon 197
Conclusion: The Bling Supremacy 211
Epilogue: What Is True Luxury? 213
Appendix A: Luxury Goods Basics 219
Appendix B: China Statistics 225
Index 227
About the Author xi
List of Terms xiii
Foreword xv
Introduction: The New Silk Road xvii
Part 1: West Goes East 1
Chapter 1: Eastern Promises, Delivered 3
Chapter 2: The Only Way Is Up 31
Chapter 3: Another French Paradox 53
Chapter 4: Deconstructing the Myth 75
Part 2: East Goes West 93
Chapter 5: The Trouble with Travel 95
Chapter 6: Why Chinese Travel and Where To 107
Part 3: East Meets East 141
Chapter 7: Are Chinese Brands a Threat to Western Models? 143
Part 4: The World Meets 161
Chapter 8: Pop Culture, Value for Money and Globalisation 163
Cha pter 9: The Chinese Luxury Empire 183
Chapter 10: All In: Coach, Apple and the Cosmetic Surgeon 197
Conclusion: The Bling Supremacy 211
Epilogue: What Is True Luxury? 213
Appendix A: Luxury Goods Basics 219
Appendix B: China Statistics 225
Index 227
Why the luxury market s fate rests in Chinese wallets
The media has negatively focused on the Chinese political administration clamping down on gifting. Observers have come to doubt the strength of Chinese consumption as the key driver for luxury.
The media has negatively focused on the Chinese political administration clamping down on gifting. Observers have come to doubt the strength of Chinese consumption as the key driver for luxury.