Week In Review: December 3-7, 2012
In case you missed them the first time around, here are some of Jing Daily's top posts for the week of December 3-7:
Go West: The New Mantra For Luxury Brands In China
Guangxi capital Nanning's first Louis Vuitton store
China's second-, third-, and now fourth-tier cities are primed for the next wave of luxury consumption. Last week, looking into not only the breadth of the opportunity but also its potential hotspots, China's Fortune Character Institute released an "expansion guide" for luxury brands in China, highlighting the key cities that companies should keep in mind when choosing their next steps. Called out as high-potential cities were huge cities often passed over by major luxury houses during the high-end boom of the last five years, including Wuxi in Jiangsu province; Hohhot, capital of Inner Mongolia; Xi'an, capital of Shaanxi, and Guangxi capital Nanning.
Face-To-Face With Richard Thomas, Head Of Far East Region, Marks & Spencer
Marks & Spencer has around 400 stores worldwide
Founded by Michael Marks and Thomas Spencer in Leeds in 1884, Marks & Spencer (M&S) is an emblematic success story of British commerce, with 700 stores in England and nearly 400 in 40 countries worldwide.
However, compared to other Western retailers that hit the Chinese market early (some of them now with hundreds of stores across Hong Kong and the mainland) Marks & Spencer is something of a paradox.
Made In USA, Sold In Shanghai: Allen Edmonds Lands In China
Allen Edmonds Shanghai
A year after announcing plans to expand into China, Wisconsin-based shoemaker Allen Edmonds has finally opened its inaugural store in China, recently cutting the ribbon at Shanghai's Grand Gateway 66 shopping mall. Flanked by China chairman Kelvin Chao and China CEO Michael Cape, president and CEO Paul Grangaard expressed his excitement about Allen Edmonds' China expansion, which coincides with its 90th anniversary, reiterating that the first location in Shanghai is only the first in what looks to be an ambitious project. Previously, Grangaard has said that, in China, he plans to open "at least six to 12 flagship stores and over time, 40 or 50 stores in China in the next five years."
Chinese Collectors Keep Pushing Top-Tier Art Prices Through The Roof
A woman looks at a painting entitled 'Tiger' by famed Chinese artist Qi Baishi in Hong Kong in 2010
This past Monday, canonized Chinese artist/painter Qi Baishi's Ode to the Motherland (1954) fetched a whopping 72 million yuan (US$ 11.4 million) at Beijing Poly's autumn auction in Beijing. Depicting a red crown crane gazing at the red sun as it sets over the ocean, the work started off at 40 million yuan only to soon be doubled in value. Although it is known that Ode to the Motherland was originally a gift to Mao Zedong in 1954, more recent provenance remains ambiguous, including the auction donor.
Louis Vuitton "Paris-Shanghai" Exhibition Travels To Hangzhou
MixC Hangzhou
Designed to resemble a set of vintage Louis Vuitton luggage, the exhibition is located in the luxury shopping center's main atrium. Outfitted with a train travel theme, viewers enter the exhibition through a simulated train station waiting room, with uniformed Louis Vuitton baggage handlers standing by.
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