LUXURY PRESS DIGEST 17TH APRIL
Luxury Fashion, Retail & Consumer Goods
DIGITAL CHINA LEAVING SOME LUXURY BRANDS BEHIND
Business of Fashion reports that Chinese consumers are flocking to the Internet to make luxury purchases on local e-commerce sites. International luxury goods brands need to get their heads out of the sand to catch up, says Luca Solca, head of luxury goods at Exane BNP Paribas.
PATIENCE, DISTINCTIVENESS AND THRIFT STILL COUNT
The Economist reports that strategic patience has proved particularly useful in two quite different businesses: newspapers and luxury goods. Two of the world’s best newspapers are owned by families: the New York Times by the Sulzbergers and the Wall Street Journal by the Murdochs, who bought it from another family, the Bancrofts. Family companies have been much more willing than widely held companies to make the sort of long-term investment required to ensure first-rate journalism. Hermès, another family company, demonstrates the virtues of patience. In the difficult 1970s it refused to compromise on quality, insisting that all its products be made from the finest materials. That left it well-positioned for the subsequent luxury boom.
UNILEVER’S EMERGING MARKET SUCCESS IS GOOD NEWS FOR BURBERRY
Yahoo! reports that you don't read so much about the emerging markets story these days. With China slowing, Russia in auto-destruct mode and Brazil all but forgotten, only India is grabbing the headlines in a positive way. But now there is some good news from emerging markets. Unilever is the beneficiary, and its success spells more good news for Burberry.
THE GLOBAL CHINESE PROPERTY HUNT
Jing Daily reports that overtaking other foreign buyer groups in recent years and zeroing in on trophy commercial properties as well as luxury residences, Chinese investors continue to pour millions into the New York property market. But for realtors, investors, and anyone in the New York or American real estate industries, what does China’s New York shopping spree mean for their business? And how can they take advantage of the rising tide of wealthy Chinese buyers?
Luxury Travel, Culture & Leisure
STARWOOD OPENS FIRST LUXURY COLLECTION HOTEL IN JAPAN
The Suiran in Kyoto's Arashiyama district opens this week and will combine the hotel chain's existing luxury concierge service with traditional Japanese hospitality. Overlooking the Arashiyama hills, and situated within the grounds of Tenryuji temple, a World Heritage site, the hotel offers 39 guest rooms ranging in size from 500-1000 square feet.
CREATIVITY AT WORK: ALEXANDER MCQUEEN
Kering reports that as the epic Alexander McQueen: Savage Beauty show began in London, there is another retrospective, at Tate Britain, which examines his creative process through photographs. K Magazine looks through the lens.