Luxury China: Market Opportunities and Potential

by Michel Chevalier, Pierre Xiao Lu, Sidney Toledano (Foreword by)

Overview

A guide to reaching and profiting from China's expanding luxuryconsumer class

China's growing consumer base and expanding economy means moredisposable income for more Chinese citizens. The Chinese market forluxury goods is expected to expand from $2 billion this year tonearly $12 billion by 2015. Today's biggest global luxury goodsretailers expect China to make up a large and ever growing portionof their customers, and those businesses are responding with newstores and investments in China. Luxury China givesreaders–particularly professionals in advertising, marketing,and the luxury brands industry–a deep look into the future ofthe Chinese luxury goods market and shows them how to tap intoChina's tremendous market potential.

Product Details

ISBN-13:	9781118181546
Publisher:	Wiley
Publication date:	09/02/2011
Sold by:	JOHN WILEY & SONS
Format:	eBook
Pages:	300
File size:	9 MB

About the Author

Michel Chevalier, a graduate of HEC in France, holds an MBAand a Doctorate from Harvard Business School. He started his careerat the Boston Consulting Group, then worked for S.C. Johnson andmoved into the luxury field. He was successively general manager ofPaco Rabanne Perfumes, chairman of Paco Rabanne Fashion, executivevice president of Bluebell Asia Ltd. in Hong Kong and in Tokyo, aswell as chairman of the Revillon fashion group in Paris. He is nowa consultant for EIM in Paris and office manager of EIM Shanghai.Michel teaches at University Paris Dauphine and InstitutSupérieur du Luxe in Paris specializing in luxury for theirMBA course. He has also published  numerous articles injournals on retailing and coauthored the books, Pro Logo andLuxury Brand Management, with Gérald Mazzalovo.

Pierre Xiao Lu is an Assistant Professor of Marketing atFudan University’s School of Management in Shanghai and theVisiting Professor of Marketing at ESSEC Paris-Singapore. He alsoconsults for many multinational luxury firms, such as Lacoste S.A.,LVMH, PPR-Gucci and MasterCard. Professor Lu specializes in luxuryconsumer behavior in China and luxury brand management in Asia.After working for several years at ESSEC’s luxury industryresearch center, he received his Ph.D. from ESSEC Business SchoolParis. His articles on the luxury industry and Chinese luxuryconsumers have been published in professional and academicjournals, such as AMA, AFM, ComitéColbert, Harvard Business Review China and FinancialTimes China. He is also the author of Elite China andtranslated Luxury Brand Management into Chinese.

Table of Contents

Foreword ix

Introduction xi

Chapter 1: Challenges and Market Size 1

Case study: Alfred Dunhill 19

Chapter 2: The Chinese Luxury Client 29

Case study: Shanghai Tang 45

Chapter 3: Chinese Consumer Attitudes Toward Luxury53

Case study: Rolex in China 77

Chapter 4: How to Distribute in China 85

Case study: Shiatzy Chen 99

Chapter 5: Retailing and Licensing in China 105

Case study: Louis Vuitton in China 125

Chapter 6: Communication and Advertising 137

Case study: The War of the Spirits 165

Chapter 7: Brand Protection and Counterfeit Activities175

Case study: Liuli Gongfang: Breaking into Luxury by way of Glass189

Appendices 195

Bibliography 241

Index 245

What People are Saying About This

From the Publisher

This is the first book to provide all necessary information for a luxury brand trying to develop its business in China. It indicates how the consumers, the stores, the markets and the communication tools are different and must be understood and used in a consistent and harmonious way. It gives examples of brands that have done well and brands that have done less well, so that the reader can understand the best practices in this territory.
- Mimi Tang, President, Asia and Pacific, Gucci Group

Is the China luxury market a long-term gold mine, a short-term mine field, or both? This timely and insightful book answers this question—and many more! No doubt a book every manager of the industry should read before investing or investing more in this fascinating country.
- Eric Douilhet, President, Bluebell (Asia) Ltd.

The Chinese El Dorado for luxury brands is not a quiet one-way street. More than anywhere else in the world the learning curve is a long and sometimes painful process. In Luxury China, Michel Chevalier and Pierre Lu share their outstanding experience of luxury brand management in China to help us assess and understand the marketing and business challenges, and better respond to them.
- Alexandre Fauvet, Director for Licenses & Distribution, Lacoste SA

Luxury China provides a complete exploration and explanation of the argument that China’s potentially substantial surplus from foreign businesses can be considerably justified by the success of the luxury sector. Through affluent cases from both Europe and China, readers will learn about the vigor, acceleration, and future of the Chinese consumer market.
- Professor Lu Xiongwen, Dean, School of Management, Fudan University

The merit of this book, Luxury China: Market Opportunities and Potential, is that it is the first one to clearly indicate and to substantiate the fact that China has become a priority for the most dynamic brands and it gives very clear indications about the way in which the market should be developed.
- Sidney Toledano, President and CEO, Christian Dior Couture