LUXURY PRESS DIGEST 5TH MAY
Luxury Fashion, Retail & Consumer Goods
HOW CAN FASHION DEVELOP MORE WOMEN LEADERS?
Business of Fashion reports that in the fashion industry, women make up more than 70 per cent of the total workforce, yet hold less than 25 per cent of leadership positions in top fashion companies. They also hold a disproportionately low percentage of senior positions on the factory floor. Women are, by far, the primary consumers of fashion, but more often than not, their point of view is not reflected in business decisions. Companies that exclude women from leadership exclude talent that can give them a competitive edge. How can fashion develop more women leaders?
CHINA'S INFLUENCE ON FASHION: AT THE TOP OF THE GAME BOTH CREATIVELY AND COMMERCIALLY
The Independent reports that the Metropolitan Museum’s annual Costume Institute exhibition launches with its traditional gala. The theme? China: Through the Looking Glass, a celebration of half a millennium of Chinese influence on European luxury goods. It’s also the culmination of China’s decade-long ascent to the very top of the fashion game. Despite Chinese president Xi Jinping’s policies to combat corruption and discourage extravagance – which has resulted in the Chinese market wavering over the past 18 months – it is still the main focus of Western luxury brand expansion.
DECODING CHANEL’S SOUTH KOREAN SPECTACLE
Business of Fashion reports that following Chanel’s high-wattage shows in Singapore and Dubai, Seoul seemed to be a natural choice for this season’s event: South Korea is Asia’s third largest economy and represents a market that is a symbol of modernity. Seoul, besides being the country’s largest city, is a bewitching blend of ancient and modern culture, packaged in a surprisingly compact metropolis with outsized investments in cultural programmes and cutting-edge architecture.
Luxury Travel, Culture & Leisure
EXPERIENCE IS KEY TO THE $498 BILLION CHINESE TRAVEL MARKET
Jing Daily reports that although official Chinese government statistics claim that Chinese tourists spent $164.8 billion overseas last year, this week the Financial Times came out with an even more staggering estimate: $498 billion. When it comes to what these travelers are spending on, shopping is still a main priority, but one key area is gaining central importance: experiences.
WHY ARE THESE LUXURY HOTELS STILL CHARGING FOR WI-FI?
Fortune reports that several luxury hotels still continue to charge for Wi-Fi. “I thought by 2015 there would be no hotels charging extra for Wi-Fi,” Rudy Maxa, consumer travel expert told Fortune. “Every poll I’ve seen about what bothers hotel guests most is paying for Wi-Fi.” Who is still charging — and how much?