The media has negatively focused on the Chinese political administration clamping down on gifting. Observers have come to doubt the strength of Chinese consumption as the key driver for luxury. The Bling Dynasty illustrates how doubts about Chinese consumption are ill-founded and Chinese luxury demand is on the cusp of becoming dominant.
This book contains the research and expert views companies need to understand and address the new challenges posed by this dominance. Each chapter brings a different perspective, covering complex aspects of luxury consumption, with illustrations and real-world examples that support the research. Readers will gain insights through interviews with brand executives, retailers, experts, and consumers.
As an economic heavyweight, China is fast realizing its role in the luxury market. Chinese consumers should be accounting for more than a third of the global luxury market today, and half, if not more, in ten year's time. The Bling Dynasty runs counter to the conventional wisdom that expanding sectors become more global. Luxury is actually becoming over-dependent on Chinese sales.
Readers will:
China's big spenders are increasingly mobile and this is affecting key markets. The Bling Dynasty provides new research and a comprehensive look at the booming business of luxury and the Chinese wallet.
ERWAN RAMBOURG is a managing director at HSBC in Hong Kong and the co-head of Global Consumer & Retail Equity Research. He has been a top-ranked analyst covering the luxury and sporting goods sectors for the bank for the past ten years. Rambourg joined HSBC in 2005 after working for eight years as a marketing manager in the luxury industry, notably for Richemont and LVMH. He is regularly featured in the Wall Street Journal and the Financial Times and appears on CNBC and Bloomberg. Rambourg grew up in New York and has lived and worked in Paris and London. In 2011, he moved to Hong Kong.
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