• - 30 Oct 2014

    In Conversation With Aurel Bacs, President, Grand Prix d’Horlogerie de Genève

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    Aurel Bacs, President of the Jury for the Grand Prix d’Horlogerie de Genève, encourages the European watch industry to think beyond the next Baselworld launch.

    Aurel Bacs will require little introduction to those invested in the watch industry. For ten years he served as the outgoing International Head of Watches at Christie’s, growing revenues from $8 million in 2003 to $126 million in 2012, an increase of 1575% in just a decade. Prior to joining Christie’s he served at both Sotheby’s and Phillips.

    He is credited with creating a veritable retail experience at Christie’s, with a focus on bringing the end-consumer to the auction house. Bacs was able to grow the auction pool from “50 European and North American collectors” – on which the market depended – to roughly 1000 active bidders in each sale.

  • - 22 Oct 2014

    The New Social Media Deal for Luxury Brands

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    The rise of social media has put more power in the hands of a diversity of stakeholders who now shape what is viewed as luxury.

    As a result, luxury brands have to learn how to negotiate their identity by striking new deals with these stakeholders at three levels: the brand image, the brand content and the brand ambassadors.

    Social media has upended the way many industries operate, and luxury is no exception. In this sector, brands traditionally relied on creating a perception of distance between themselves and their customers – the brand dream.

  • - 21 Oct 2014

    5 Must-Know Insights Into The French Luxury Market

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    Despite France’s venerable position in the global luxury scene, the French luxury market has not escaped the country’s poor macroeconomic environment.

    According to Euromonitor International’s latest research, luxury sales in France reached just under €18 billion in 2014, making it the third biggest market in the world, behind the US and Japan, but, with a regional value share of 21%, France comes out top, ahead of neighbouring Italy and the UK.

    Much in line with comparable global figures, designer clothing and footwear accounts for the lion’s share of luxury value sales in France, at 46% in 2014.

  • - 20 Oct 2014

    How to Reach China's Young HENRYs through Social Marketing

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    Chinese HENRY’s – High-earners-not-rich-yet – are the young, rising professional class that is driving luxury brand sales, explains Alexis Bonhomme of Curiosity China

    As we face a slowdown in the growth of global luxury sales in China, Hong Kong, and Europe, as well as a large change in terms of Chinese travelers’ profiles as they switch from group to independent travel, most brands are trying to reach a new type of more mature, more independent customer. Many of these customers are the HENRYs, which means “High Earners, Not Rich Yet.” This group appeared in the early 2000’s in Western markets and is now growing fast in the emerging ones.

  • - 16 Oct 2014

    Tourist Spending Drives Global Luxury Markets

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    International tourism and a stronger middle class are shaping luxury trends, with a focus on consumer nationality rather than geography

    “Slower, but steady is the ‘new normal’ for the global luxury market in 2014 – and potentially beyond, which is acclimating to lower, but more sustainable long-term growth,” explains Bain & Company, in the 13th edition of the “Luxury Goods Worldwide Market Monitor” released in collaboration with Fondazione Altagamma.

    “Among currency fluctuations, persistent economic weakness in Europe and external forces, such as the Crimean crisis and protests in Hong Kong, demand from Chinese consumers and mature consumers in the U.S. and Japan re-approaching luxury have helped to counter a potentially significant downward momentum.”

  • - 15 Oct 2014
    - by Liz Flora

    90% of Traveling Chinese Luxury Shoppers Plan Purchases Before Trip

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    Liz Flora of Jing Daily shares the highlights from Nielsen’s Mainland Chinese Luxury Shopper survey

    Most Chinese luxury shoppers traveling abroad have done an extensive amount of research on what to purchase before they even left home, according to new data highlighting the vital importance of Chinese digital marketing for luxury brands.

    According to Nielsen’s Mainland Chinese Luxury Shopper survey that polled 1,005 internet respondents from four regions, 90 percent of Chinese travelers plan their luxury goods purchases prior to travel, while 38 percent know exactly which products they will be buying.

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Members opinion

  • Timothy Schepis What Did You Do This Weekend? Not What Did You Buy... by Timothy Schepis 24 Oct 2014
  • Alexis Bonhomme How to Reach China's Young HENRYs through Social Marketing by Alexis Bonhomme 20 Oct 2014
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