ChinaLuxCultureBiz is now Jing Daily! Be sure and check us out at our new location.
Jing Daily compiles the best in Chinese luxury, culture, business, arts, and investment news from around the world
NEW YORK – November 5, 2009 – Jing Daily, the source for the most important and timely news about the business of luxury and culture in China, today announced the launch of its new website (http://www.jingdaily.com). With insight and commentary gathered from the Chinese- and English-language blogosphere and top news sources around the world, Jing Daily offers up-to-date information about crucial developments and current trends in China’s luxury, business, arts, and cultural markets.
Posted in Art, auction, Automobile, Business, China, Chinese Art, Culture, Currency, Economics, Economy, Fashion, G20, Investment, Luxury, Museums, Sino-US Relations, Uncategorized
Tagged blog, China, construction, Culture, jing, Luxury
Stay tuned, ChinaLuxCultureBiz is launching a new site with plenty of new features and even more information on China’s arts, luxury, business, and cultural markets. More information coming this week!
Luxury Retailer Notes That Stabilized Sales, Huge Growth In Greater China Have Fueled Asia Expansion
Italian fashion company Valentino is looking to expand quickly in Asia, with a focus on China & Hong Kong
Most global fashion houses have, over the years, worked hard to make something of a foothold in the Chinese market. As we’ve written before, one of the first major Western fashion companies to enter China following the “reform and opening” policy of the late 1970s was Pierre Cardin, who began selling in China in 1979. Since then, major fashion boutiques from around the world can be found in China’s largest cities, and some have progressed into smaller (but still large by most standards) second- and third-tier cities throughout the country. Despite major setbacks for some retailers in formerly reliable markets like Japan — where companies like French Connection and Versace have recently closed down operations — and a drop in demand in the American market (although that has, according to reports today, stabilized for many luxury companies), the surge in demand for certain designers in the Chinese mainland should soften the blow in revenue that these companies are experiencing as a result of the global economic downturn.
The Valentino Fashion Group — which includes the Valentino, Hugo Boss, and Marlboro labels, today announced that the company has benefitted from the quick rise in consumer demand throughout China. From Bloomberg:
Revenue in China and Hong Kong jumped 40 percent in the past month, and the company expects that pace to continue, Sassi said backstage after the show…
Although sales in Japan were described today by Valentino’s CEO as “not that bad,” the company’s major focus is store expansion in mainland China, Hong Kong, and Southeast Asian markets like Singapore:
[Valentino CEO Stefano Sassi] said the group is opening Valentino stores in Asia — Singapore, China and Japan. “These are not great times to open shops, but we are going ahead with what needs to be done.”
Posted in Uncategorized
Tagged asia, China, Fashion, hugo boss, japan, Luxury, marlboro, pierre cardin, singapore, valentino, valentino group
Songzhuang Cultural And Arts Festival, Taking Place From September 20 To October 12, Showcases Artwork From Artistic Districts Around The Country
This year's Songzhuang Cultural and Arts Festival follows the success of last year's exhibitions
Although many art enthusiasts are familiar with Beijing’s larger and more established art districts, such as Dashanzi (大山子) and Caochangdi (草场地), one of the Chinese art world’s best-kept secrets is that the country is home to a number of smaller, more exclusive art communities. Running until October 12, the Songzhuang Cultural and Arts Festival looks to showcase the work of artists from these art colonies — both large and small — and give art lovers a glimpse into the wide range of artwork currently being produced throughout China. Titled “Community! Community!” this festival puts a strong emphasis on the work of artists in distinctly non-mainstream art communities in ten art “zones”:
Artists from ten different art zones in Nanjing, Chengdu, Xi’an, Wuhan and Changsha. were invited to display their artworks. Each art district has a separate location at the festival, featuring recently created artworks by artists representing each community.
Thirteen large-scale art museums and galleries, such as the Songzhuang Art Museum, Sunshine International Art Museum, and the LDX Contemporary Art Center, provide exciting exhibits.
Posted in Uncategorized
Tagged ai weiwei, Art, art colony, art district, auction, caochangdi, CCA, CCP, China, contemporary art, contemporary chinese art, dashanzi, festival, october, PRC, songzhuan cultural and arts festival, songzhuang, sotheby's
Beijing Bests Five Other Cities In Number Of Newly Rich, With 8,800, In Hurun Report’s Newest List
Hurun's Report on the Nouveau Riche took many cultural and geographic factors into account
China Daily writes on the Hurun Report‘s newest list of China’s nouveau riche, tabulating the number of Chinese who have grown wealthy in the last year in six cities — Beijing, Shanghai, Hangzhou, Shenzhen, Chengdu, and Shenyang. This report clarifies its methodology by noting that to be a member of the “nouveau riche” in Beijing, a basic consumption standard of at least 87 million yuan each year (approximately 12.73 million USD), is required (About 51,000 people in China have such consumption capability).
While this type of report can be considered by some to be petty and, in some ways, not terribly enlightening — as everybody already knows China’s wealthy are growing very rapidly — it does shed some valuable light not so much on how much money they have, but rather what they are doing with it, and what it means to them. China Daily gives some more detail on this side of the report: