Chinese tourists have taken over cities like Paris and Milan, purchasing large amounts of luxury goods. WSJ’s wealth editor Wei Gu gives a few tips for foreign companies. Stay out of China, and do not expect to make money on food and hotels.Read More →
The world’s most successful luxury tycoons can be found in Paris, like Bernard Arnault of LVMH and Liliane Bettencourt of L’Oreal. Most of the luxury goods market is funded by Chinese shoppers, tells Hurun China rich list founder Rupert Hoogewerf in the People’s Daily.Read More →
Bored with Hong Kong, Milan and Paris, China’s rich are turning to new places, notably in Africa, writes Wei Gu, luxury editor of the Wall Street Journal in Scene Asia. Botswana, Namibia, South Africa and Zambia are on the agenda. 60,000 visited Africa in the first half of 2012, a jump of 68%.Read More →
The UK might be lagging when it comes to attracting average Chinese tourists, the country is certainly successful in attracting the wealthy section of the Chinese. Key driver were the Olympics, estimates Hurun rich list founder Rupert Hoogewerf in the Telegraph.Read More →
Bag-seller Gucci bought a majority share in Chinese jeweler Queelin to enter a new segment of the luxury market. A smart move, says business analyst Ben Cavender in Business Week, as jewelry might be the next big thing for Chinese consumers.Read More →
China’s luxury goods market might still be going strong, despite a dip in the country’s growth. But previously popular brands like Burberry are losing traction, tells retail analyst Paul French in the Huffington Post. But there is still hope.Read More →
Helen Wang, the author of the leading book, The Chinese Dream: The Rise of the World’s Largest Middle Class and What It Means to You, will be visiting London early December on the invitation of Lord Wei. She will also visit Paris and other parts of Europe and is available for speeches.Read More →
Paris might be the hot spot for luxury shopping by China’s rich, when they have to pick an education they go for England’s top universities, especially Eton and Harrow, says Hurun China’s rich list founder Rupert Hoogewerf in The Telegraph. Read More →
The Wall Street Journal has more details of the earlier released Hurun report about how China’s rich spend their money while traveling. Tension with France have been forgotten, as Paris has become their most favorite destination. The Hurun report is produced by Rupert Hoogewerf.Read More →