NPR Interview With Nicholas Lardy Of The Peterson Institute for International Economics Discusses How To Make “‘Made In China’ Mean Luxury”
High-end fashion brands like Shanghai Tang are part of the first wave of Chinese luxury brands from the mainland and Hong Kong
We’ve written before about domestic Chinese luxury brands, and the way these brands are working to appeal to luxury consumers in that country by resonating on a cultural level rather than simply promoting their exclusive price-points. In the next few years, as Western luxury brands lose a little of their initial luster in top-tier markets, although they’ll probably maintain their draw in second- or third-tier markets, many analysts think there will be a great opportunity for Chinese luxury brands to squeeze into the luxury market.
In an interview with NPR today, Nicholas Lardy, “a senior fellow at the Peterson Institute for International Economics, a non-profit, non-partisan group based in Washington, D.C,” discusses how China’s burgeoning middle class (which, at more than 200 million potential customers and growing, has the potential to revolutionize buying trends) — rather than the small proportion of “ultra-rich” — will be the customers who will lead to the ascendance of Chinese luxury brands.
SIMON: Now, some of us remember when the term made in Japan was synonymous with inexpensive, dare I say, cheap goods. And of course in our lifetime that’s changed entirely. Made in Japan now means quality, particularly in the car industry. Is China trying to expand in the manufacture of high-quality items itself?
Mr. LARDY: It’s not only trying, I think it’s succeeding and it’s succeeding much earlier than Japan did for the simple reason that they’ve allowed foreign firms to play a much bigger role. We buy computers that say Dell or Toshiba and so forth – they’re all made in China. They’re made by foreign companies operating in China, assembling all the parts and components there.
Posted in Automobile, Business, China, Culture, Investment, Luxury
Tagged branding, China, chinese luxury, chinese luxury brands, foreign investment, Investment, Luxury, luxury brands, NPR
Stock Fluctuations Lead Investors To Continue Searching For Diversity: Gold, Diamonds, Art, And Wine
Diamond and gold producers and contemporary art and wine auction houses are increasingly targeting Chinese investors and sovereign wealth funds
Today’s Financial Times has a feature on investors who are turning to traditional hedges against stock market turbulence, and the way major diamond producers like DeBeers are ratcheting up their marketing and outreach efforts to get these people’s attention. Although diamonds fell mainly out of favor in recent years in many developed countries due to their sometimes controversial nature, diamond consortia have seen their fortunes turn around rapidly as they increased their foothold in emerging markets like Russia and China.
Posted in Art, Automobile, Business, China, Chinese Art, Currency, Economics, Economy, Investment, Luxury
Tagged Art, auction, China, contemporary art, debeers, diamond, diamonds, finance, foreign investment, gold, hedge, india, Investment, investor, London, RMB, russia, sovereign wealth fund, wealth
Growing Number and Influence Of Asian Auctions Will Provide Excellent Buying Opportunities For Diversifying Investors And Avid Collectors Alike
Up for auction in Hong Kong, May 24, Liu Ye, Boogie Woogie, Little Girl in New York (2006)
We have written several times that right now is the best time to purchase both top historical artists and emerging talent. Now that auction season is getting ready to really start heating up, journalists around the world are noticing that there are great deals to be had, and that anyone who is interested in jumping into art as an investment should do so now, when the market is more affordable. Upcoming auctions in Hong Kong and elsewhere are sure to reflect the trends we’ve been noticing — China and emerging contemporary art markets are going to continue to be the best place to put your money. Here’s why:
Posted in Art, Business, China, Chinese Art, Culture, Economy, Investment, Luxury
Tagged Art, artwork, auction, China, china investment, christie's, collector, contemporary art, foreign investment, hedge, Investment, phillipines, rolex, sotheby's, watches, wine
Rising Trade And Cultural Exchanges Between Two Countries Leading China-West Partnerships
Ambassador Raby has been a contemporary Chinese art buff since the 1980s. Could Raby and Rudd lead the way to better Sino-Australian ties?
There have been several stories in the last few days about the relationship between Australia and China, two countries which have economically benefitted in alternating cycles through increased trade and commerce over the last 20 or so years. While Australia has a Mandarin-speaking PM who has shown a muted interest in deepening Sino-Australian ties, recent articles have indicated that the China stigma continues to play a role in business deals and politics.
Posted in Business, China, Chinese Art, Culture, Economics, Economy, Investment, Museums
Tagged Art, australia, Business, BYD, China, chinalco, contemporary art, dealmaking, foreign investment, Investment, paul rudd, rio, SOEs, warren buffett