The Best-Selling Luxury Handbag Designers In Each Major City | StyleBlazer
It’s a booming business that was worth 74.4 billion yuan ($12 billion) in 2013, according to the China E-commerce Research Center. Graduate student Zhang Yuzhu makes extra money by buying designers bags for customers found through social media “Usually I can earn $200 to $300 for a Chanel handbag, but I will get more for a Hermes,” Zhang told CNN. Zhang’s customers get designer goods for less than they would at home by circumventing China’s steep taxes on luxury items. She says they cost 30% less in the United States. Chinese are the biggest buyers of luxury goods globally, making 29% of all purchases, according to consultants Bain & Company , and these purchases are increasingly being made abroad, mostly by tourists, but also by people like Zhang. Many young Chinese studying in places like New York, London, Paris and Tokyo have started ad hoc businesses, with Bain saying that Chinese luxury sales will become increasingly reliant on this kind of “parallel trade.” Zhang finds her clients through Chinese social media like WeChat and Weibo, where she posts pictures of the latest items about once a month.
China Fashionistas Get Best Deals on Gucci, Hermes Bling – Yahoo Finance
I provide companies with go to market, expansion, consumer engagement, and supply chain strategies and implementation in China. Key areas of concentration are consumer products, retail, luxury, healthcare and automotive. I have completed projects and campaigns for more than 200 multinational as well as small and medium sized enterprises in China. I was previously managing director of China BrightStar, a sites china-focused consulting firm, and VP at Beijing Gongmei, a Chinese manufacturing conglomerate. I regularly appear in the media and am a frequent speaker at conferences, universities and special events providing insight on Chinese business, politics and culture. I am currently co-authoring a book on Chinas consumers to be published by J. Wiley and Sons in 2014.
With the dirth of brands fighting for a stake in the space, and the demand for goods overpowering the supply , its interesting to see which luxury handbag brands are keeping up despite the madness. In a report done by Fashionista in conjunction with online consignment start-up TheRealReal , they identified the top selling handbag designers broken down by city. Their findings do a great job of identifying what brands are trending around the country, and while most of the report is pretty predictable there were a few surprises. Click on the next pages to see which brands reign in cities like New York, San Francisco, Miami and more! 1
Factory Girls want to put the Southeast on fashion map | A&E Feature | Creative Loafing Atlanta
Sales in China of goods from Europe’s most prestigious fashion houses have been damped by the government’s anti-graft campaign, which has curbed gift-giving. And steep import and consumption taxes on luxury goods bought in China have led an increasing number of wealthy locals to shop more while overseas. More from Bloomberg.com: Hook-Up Culture at Harvard, Stanford Wanes Amid Assault Alarm Left with stacks of unsold merchandise in their mainland stores, high-end brands are resorting to something they rarely had to do earlier: price-cutting. “Even during the financial crisis, I don’t think we saw this amount of discounting,” said Franklin Yao, managing partner of Shanghai-based SmithStreet, which advises companies on their China strategies. “Inventory has become an issue for brands across the board, and this is a big problem.” More from Bloomberg.com: India to Unveil First Warship to Deter Chinese Submarines Slower Spending Consultancy Bain estimates that Chinese purchased a third of all luxury goods sold globally in 2013, but growth in luxury spending in mainland China will slow to 2 percent this year after rising 30 percent in 2011, it forecasts. Christian Dior SA (CDI) and Ermenegildo Zegna Group both held sales at their China stores in July, with Milan-based Zegna cutting as much as 40 percent off menswear, leather items, and shoes. Some discounting is more understated, as luxury houses try to avoid lowering the value of their brands along with their prices.
Why COACH, Michael Kors, Apple, GM and New Balance are Succeeding in China – Forbes
Meanwhile, Thurnher was consulting and styling local designer Abbey Glass ‘s line. She discovered that most of Glass’s troubles were rooted in the lack of resources available for manufacturing clothing lines in Atlanta; this was also an issue for local designer Megan Huntz . “Factory Girls has a meaning that deals with the art world and creative individuals forming relationships, and that’s what attracted us to it,” Thurnher says. “There’s nothing [else] like this in Atlanta.” Weir and Thurnher decided the Southeast needed a hub for designers to produce their collections on an industrial-based level.
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