In a country that boasts more millionaires than Japan and is one of the world s fastest growing markets, it is little wonder that China is now the third largest consumer of luxury items after Japan and the United States. Luxury shops are rapidly opening in Beijing, Shanghai and other Chinese cities to cater to consumers that are young, optimistic and upwardly mobile. The Chinese luxury market, huge and poised to splurge, is mouth watering for any luxury label. But in fact it's a complex terrain that takes tactical planning and a long term vision to navigate successfully.
The European Chamber is glad to invite you to the presentation of a study undertaken to uncover this market, from deep rooted cultural conflicts to the purchase drivers of real consumers. The result is a set of cross category tips from a brand building perspective, brought to life through numerous case studies of luxury brands, both those doing well and those that have had their fingers burned.
Used well, these tips can transform what could be a brand mine field into, instead, a brand goldmine, ensuring long term and profitable luxury brand health in the most exciting market in the world.
We are glad to welcome:
Tom Doctoroff, CEO of Greater China & Northeast Asia Area Director of JTW and author of the book China s booming luxury market: Goldmine or Landmine?. To view his CV, please click here.
Jancu Koenig, JWT s regional director on Rolex.
Agenda
08.00 08.30 Registration
08.30 09.10 Presentation by Tom Doctoroff
09.10 09.30 Rolex case study presented by Jancu Koenig
09.30 09.45 Q&A session
Registration
To register for this event, please email this form to Mr. Joao Gago at jgago@euccc.com.cn by Monday, July 16th, noontime. Confirmations and cancellations by phone are not accepted. Please note that cancellations should be done before July 16th, noontime.
No-shows who fail to cancel before this time will be invoiced for the event.
Registrations done after the deadline will be accepted only if space permits and are charged an additional 50 RMB walk-in fee.
Company:
Member of the European Chamber: Y ( ) N ( )
Name of Attendee(s): 1) 2)
Phone:
Fax:
Event review
China's booming luxury market
With the European Chamber's recent move to one of the main shopping street of Shanghai, Huaihai Lu, we have yet again come to realize how fast the Chinese retail market is growing and the aspirations that people here have for the latest look, status and luxury items.
The fact that China is today already the third largest consumer of luxury items has manufacturers and retailers eager to get a foothold in the market. However, this is a new market and there are fresh challenges and certain cultural nuances that need to be accepted as companies aim at the Chinese consumers.
On Wednesday, July 18th the European Chamber arranged a seminar on the topic China's booming luxury market. Mr. Tom Doctoroff, CEO of Greater China & North East Asia Director of JWT, gave a presentation that started by shaping the scale of the luxury market, governed chiefly by the demographic of China's emerging wealthy class. He then continued by showing the subtleties of what luxury means in this culture and how this needs be accurately translated into brand positioning and consistent messages in advertising campaigns.
Mr. Doctoroff was followed by his colleague Mr. Jancu Koenig, who is JWT’s regional director on Rolex. Mr Koenig took much of theory from the first presentation and offered a case study on how Rolex has chosen to position itself in the China market. The presentations were followed by a lively Q&A session.
The event follows from a recent seminar on market research, held on May 17th, and leads nicely into an upcoming event on shopper trends in China to be held on August 9th. Increasing disposable income amongst Chinese consumers brings with it a boom in traffic through the shops and retail centers of China. This will no doubt inspire more questions and strategies on how this market, be it luxury or otherwise, can best be captured. The European Chamber will continue to provide relevant and focused events on the topic over the coming months.