Daily Archives: May 9, 2009

Luxury Brands Look To Shoppers In China For Cushion In Crisis

Gucci and Ferragamo Join Burberry In Opening New China Locations In ’09

Ferragamo in Shanghai: The Luxury brand hopes to add 7-8 locations in China this year

Ferragamo in Shanghai: The Luxury brand hopes to add 7-8 locations in China this year. Photo © Time

The Mercury News reports today on hopes by luxury retailers that well-heeled Chinese shoppers, who have cut back less than their Western and Japanese counterparts, can buoy the luxury goods market enough to get them through the economic downturn. While China itself has been hit hard by the global economic downturn — particularly in its manufacturing and export sectors — a series of domestic stimulus packages and efforts to bolster consumer confidence have begun in earnest to take effect (as we have written before). Although a broader recovery, especially in the more rural or far-flung areas, will take some time, in China’s metropolitan centers like Beijing and Shanghai, the wealthy and upper-middle-class have continued to shop. And for that, luxury brands from around the world are looking at this consumer class as one of their few bright spots in the global economy.

Continue reading

The Pearl River Delta Rises On A Tide Of Art Developments

The Influential Trio Of Hong Kong, Shenzhen, And Guangzhou Roar To Life For Events Like The Guangzhou Triennial

ART HK 09 takes place from May 14-17

ART HK 09 takes place from May 14-17

Art collectors and lovers are looking to Hong Kong to become Greater China’s devoted art epicenter. The region’s already-enacted duty law reforms, smooth business culture, and unique blend of Asian and Western culture have made it, and continue to make it, the world’s meeting ground. In the arts, this is no exception. Taking place in the heart of China’s wealth factory, the Pearl River Delta of Hong Kong, Shenzhen and Guangzhou — where the Mainland’s first experiments with capitalism took place in the late 1970s — annual events like the Guangzhou Biennial and the upcoming Hong Kong Art Fair (ART HK 09) are big draws for China’s emerging art consumer, the wealthy, investment-savvy “New Chinese Collector.”

Continue reading