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Heading East Number One Market in 2019

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Heading East Number One Market in 2019 Shopping Speaking to Forbes earlier this year, the brand’s CEO, Jean-Christophe Babin, predicted that China will become Bulgari’s Heading east number one market in 2019. Sarah Assenti swings the spotlight onto Chinese luxury shopping to look at western brands While trading figures are hush who are mastering the market and driving a rise in stock for fashion in the east hush, the brand has made huge strides in the market by opening a flagship boutique in Tsim ove over Japan and step CARTIER of the young, rich and famous, Sha Tsui, Hong Kong, and two aside Dubai – China is With 36 stores across mainland including actress Yang Mi and decadent Bulgari luxury hotels in Mthe newest powerhouse in China, including in Jiangsu, Lu Han, a former member of Beijing and Shanghai respectively. ➤ Asia’s luxury shopping market. Guangdong and Zhejiang K-POP boy band, EXO. According to McKinsey & provinces, Cartier have had a cartier.com Co, the next five years will see presence amongst China’s most China almost double its spend affluent consumers since the BULGARI on luxury goods, and the eastern early 1990s. Rich in history – and Leading fine-jewellery and powerhouse is predicted to diamonds – the brand enticed watch brand, Bulgari, has had account for 46% of the global the next generation of luxury a presence in China for the luxury market by 2025. Recent shoppers with its jaw dropping last 15 years, and today has tariff wars with the US and the exhibition Cartier Treasures: King 30 stores and counting. ever-evolving world of e-commerce of Jewellers, Jewellers to Kings in may shape the way brands operate Beijing’s Forbidden City in 2009. Pictured: Luxury shopping today, but young, affluent Chinese Since then, Cartier has decorated in Shanghai is now among fashionistas remain hungry. the wrists, necks and décollets the best in the world July-September 2019 Upward Curve 11 Shopping The opening of the latter, in 2018, COACH attracted many of China’s elite, The comparatively young (est. including actress Mabel Yuan, 1941) American heritage brand and model, Bonnie Chen. entered the Chinese market in the Bulgari.com late 1990s, eventually buying back franchise rights in 2009. Known LOUIS VUITTON for its leather goods, Coach A favourite label amongst young has experienced something of Chinese celebrities, including a comeback in the US over the singer-actor Kris Wu, actress last five years, under the direction Fan Bingbing and supermodel, of British creative director, Stuart Liu Wen, Louis Vuitton has long Vevers, and has its eye on China since had a global appeal in the as an equally important market to luxury shopping market. One of conquer. A design collaboration the first Western labels to tap into with American singer Selena China, the brand made its debut Gomez has been bolstered by in 1992, leveraging its rich history campaigns featuring Chinese as a French heritage designer actors, Guan Xiao Tong and the label first entered China and that has produced luggage for Timmy Xu, and Coach goods are today there are almost 60 stores European royalty. Its landmark seen as a popular entry-level across the country, with 30% of exhibition, Volez, Voguez, Voyagez luxury purchase. Gucci’s $7.2b sales coming from drove that message home when it coach.com the region in 2017. One of the opened in Shanghai in late 2018. reasons Gucci is so popular in the LV’s flagship stores are located in GUCCI upper echelons of Chinese society Shanghai and Bejiing, with smaller Gucci has been the fashion brand and pop culture (including Ni Ni outposts across the country. of the moment since Alessandro and LiYu Chun) could be down to lvuitton.com Michele took the helm as creative how the brand caters to its Asian- director in 2015, introducing Pacific customers, working with Pictured: Cartier and Gucci have flamboyant, texture-rich designs Asian designers to produce prints flagship stores in Shanghai, and androgynous styling. But it based on 18th century textiles. while Bulgari are in Beijing was under Tom Ford in 1997 that gucci.com BURBERRY One of Britain’s oldest brands (est. 1856), has been making waves in China with a heavy focus on digital innovation. Like many other luxury brands, Burberry’s presence overseas began as a franchise in the early 1990s, but it re-established itself in China in 2010 and now has numerous high-tech flagship stores across the country, notably with a presence in Beijing and Shanghai. Burberry prides itself on democratising luxury fashion and it was the first brand to livestream a catwalk show. In China it has leaned into that with extensive Weibo and WeChat activity, tapping Gen Z megastar Zhou Dongyu as an ambassador. burberry.com ■ 12 Upward Curve July-September 2019.
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