Moneyed Milano, Branding the baby, China to cut luxury duties, CreateThe buys Morpheus, Brian Duffy’s genius

Bottega Veneta Mens Spring 2010 | Source: Style.com

In the Money! (IHT)
“The changes are more profound than just strong sales figures, which, in the end, will be counterbalanced by weak numbers from other regions and financial fears about the euro zone. Italian fashion is undergoing the change from successful family-owned brands to multinational conglomerates.”

Branding the Baby (WSJ)
“Although there were a few early adopters, such as Armani and Stella McCartney’s wildly popular collections for the Gap, the fashion world’s enthusiasm for kids’ clothing has reached a frenzied pitch this year, with design houses adapting popular ready-to-wear looks, allowing moms and dads to match their tots.”

China to cut import duties on luxury goods soon (Reuters)
“China, already the world’s second-largest luxury goods market, will soon slash import duties on opulent items… The bid to keep well-heeled Chinese shoppers at home is in line with Beijing’s over-arching plan to boost domestic consumption and cut China’s dependence on exports to drive its economy.”

Createthe Group Buys Morpheus Media (WWD)
“‘We’ve been looking to strategically build our media offerings because we find that our clients are looking for a full-service approach,’ said Createthe Group’s founder and chief executive officer James Gardner. ‘We found that Morpheus was able to provide complementary offerings [to ours].’”

The wayward genius of Brian Duffy (Telegraph)
“Close to breakdown, the outspoken photographer Brian Duffy decided to burn all his iconic images from the 1960s and 70s. But he reckoned without a worldwide search for lost negatives – now published in a new book.”

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2 comments

  1. As a Chinese, I see the great change of China people’s luxury consumption. 20 years ago, most people in China barely know nothing about luxury products. The conception of Luxury products is just cars like Audi, BMW, etc. To be honestly, the leaders of these great car manufacturers really have long-term visions and make their companies enter China in an early age. However, with the economy development, China is becoming more open to the world, so Chinese is getting to know the world and the luxury products better. At the same time, people are becoming rich and tend to spend more money on luxury products since there is nothing else in China people could spend their money on. And for some cultural reasons, luxury products have become the symbol of their treasure. Sometimes, Chinese people buy luxury products is not because of the great quality, it’s because friends around them had bought it, they need to buy it to show his treasure.
    And because of the high duty in China, rich people like to go overseas or Hong Kong to buy luxury products. My neighborhood goes to Hong Kong twice a mouth just for shopping. But for some political history reasons, Hong Kong government never turn on their tax revenue to China government. So with the high sales of luxury products, China is going to turn down the tax rate of them, whcih they can benefit from. On April 20, 2011, China government started a duty free policy in an island called Sanya, in China. Obviously, the tax revenue all belong to the China government. And since Sanya is a pilot place, there must be more low duty places in China. I do believe it will bring great threaton to Europe and America markets. Since Chinese will continue to purchase more luxury products, it seems that Luxury companies need to take some changes to their market policy.

    Missi Ye from Heshan, Guangdong, China