LUXURY PRESS DIGEST 7TH MAY
Luxury Fashion, Retail & Consumer Goods
IS BRITAIN TAKING FULL ADVANTAGE OF CHINA’S TOURISM BOOM?
Jing Daily reports that last week, the prestigious Walpole Eastern Growth Summit in London saw dozens of British brands, tourist destinations, and retailers converge to discuss China’s outbound tourism boom and what it means for the UK. Much like New York, Paris, and Tokyo, London has already seen significant growth in arrivals from mainland China in recent years, with around 200,000 visiting the city last year. By 2020, VisitBritain hopes that Chinese tourist spending in the UK will double to £1 billion per year. But as Chinese tourists celebrate easier 10-year visas to the United States and a well-oiled and efficient Schengen visa programme, Britain’s relatively slow and clunky visa system remains an impediment for the country’s brands.
LONDON CRAFT WEEK BEGINS
Telegraph Luxury reports that if, when you think of craft, you still think of twee country fayres full of wood whittlers and eccentric embroiderers, then you have probably been away from London for too long. Having played a central role, over the last few years, in both the repositioning of the word and the revival of the many disciplines that lie under the craft umbrella, London is proof, if needed, that contemporary craft is at the vanguard of creativity, more synonymous with fine arts than with backwater hobbying. Now celebrating the inaugural London Craft Week, of which Walpole are strategic partners, a glamorous whirl of extraordinary artisans and luxury brands is poised to set the city alight. As part of Walpole's strategic partnership with the inaugural London Craft Week, in association with Vacheron Constantin, taking place from Wednesday 6th to Friday 10th May 2015, we have joined with Walpole member Fortnum & Mason to host a specially curated showcase of 28 luxury craftsmen alumni from our Crafted mentoring programme in the iconic London Piccadilly store.
LONDON IS GETTING ANOTHER FASHION WEEK
The New York Times reports that hot on the heels of its successful introduction of London Collections: Men, the menswear week whose success has become the envy of all other fashion weeks and spurred the Council of Fashion Designers of America to introduce its own men’s week, the British Fashion Council has announced yet another formalized presentation period: London Pre-Collections. Scheduled for June, the event will include a special centralized showroom — the Hoxton Collective — featuring designers such as Huishan Zhang, Marques’Almeida and Zoë Jordan. There will also be listed presentations by names including Burberry, Roland Mouret, Anya Hindmarch and Peter Pilotto.
FASHION STARTUPS BYPASS DEPARTMENT STORES TO REACH CONSUMERS
Wall Street Journal asks: are traditional department stores becoming irrelevant? Some startup founders are saying it is getting ever easier for fashion brands to reach consumers directly, through business models like subscription, as well as mobile apps where consumers discover trends and items. Consumers are getting accustomed to new ways of shopping, such as subscribing to getting items monthly, said Jennifer Hyman co-founder and chief executive of Rent the Runway.
Luxury Travel, Culture & Leisure
HOW CAN FASHION BRANDS LEVERAGE SHOPPING TOURISM?
Luxury Daily reports that shopping tourism is growing, but to best reach these potential consumers, fashion brands and retailers should begin marketing to them before they leave their home country, according to a report from Fashionbi. Just as travellers heavily research hotels, restaurants, sites and entertainment before embarking on a trip, they are also using online media to plan their shopping excursions. Brands should ensure they are catering to their potential international clientele with websites in their native languages and social accounts on the platforms popular in different markets.