Previous darlings of the luxury industry like Louis Vuitton, Gucci, Omega, Versace and Hugo Boss are out of grace, as the country’s really rich focus on high quality, the real stuff, in stead of those parvenu brands. Hurun founder Rupert Hoogewerf explains in the China Daily what has changed.
Shaun Rein by Fantake via Flickr Many observers wrongly assume Chinese want to be middle class, like the Americans once were. They are wrong, explains Shaun Rein in the Wall Street Journal. Chinese want to be rich. While investment by global brands has traditionally been highest in Tier 1 cities,
Shaun Rein is the Managing Director of the China Market Research Group, the world’s leading strategic market intelligence firm focused on China. He is one of the world’s recognized thought leaders on strategy consulting in China. In 2012 he published the bestseller “The End of Cheap China.” He travels from Shanghai.
Paul French is former Chief China Market Strategist at Mintel. As a China specialist he has been quoted in a wide variety of publications including the Financial Times, Newsweek, the Wall Street Journal Asia, the South China Morning Post and the LA Times. In 2012 he published the very popular book “Midnight in Peking.” The rights for a TV-show on the book have been sold He travels from Shanghai.