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The China Edit | Cult of Luxury, Hermès Weathers Slowdown, Jean-Marc Loubier, Alibaba Plans U.S. Site, Anna Sui

The China Edit is a weekly curation of the most important fashion business news and analysis from and about the world’s largest luxury market.
Birkin bag and Citroen 2CV at Hermès exhibition in Shanghai | Source: Flickr
By
  • Lina Lee,
  • Lisa Wang

"Despite Slowdown, the Cult of Luxury Grows in China" (Time)

“The crackdown hasn’t entirely discouraged spending, and the Chinese are figuring out new ways to spend. Chinese consumers are now purchasing more luxury goods abroad, traveling to New York and Paris to buy handbags and pens, buying more than 60% of their luxury goods outside of the country. (In 2012, they were already far and away the world’s largest international tourism spenders, dishing out a total of $102 billion.) And they’re buying fewer flashy goods at home.”

"Hermès Says Not Affected by China's Corruption Crackdown" (Reuters)

“Hermes' understated style is helping it weather a crackdown on corruption in China that has dented the sales of many rival luxury goods makers, the French company said on Thursday. China's efforts to weed out illegal gift-giving has hit luxury watch makers and logo-branded products, such as LVMH's Louis Vuitton and Kering's Gucci products.”

"Jean-Marc Loubier of First Heritage Brands on Bridging East and West" (The Business of Fashion)

“In 2011, William and Victor Fung of Fung Group (owner of global sourcing giant Li & Fung) formed First Heritage Brands, a subsidiary of Fung Investments and Singapore-based investment firm Temasek, with the aim of investing in European luxury brands to develop their international potential, especially in China. Spearheaded by LVMH veteran Jean-Marc Loubier, First Heritage Brands acquired French shoemaker Robert Clergerie, as well as Delvaux, the oldest luxury leather goods manufacturer in the world, both in 2011.”

"Alibaba to Launch U.S. E-Commerce Website" (Reuters)

“Alibaba Group Holding Ltd is set to launch a U.S. e-commerce website through its subsidiaries Vendio and Auctiva, which are in turn part of the Alibaba.com business group, the company told Reuters on Tuesday. The 11 Main (http://11main.com) site is an online shopping business that offers 'interesting, quality products' from 'hand-picked shop owners' such as fashion, tech and jewelry goods.”

"Anna Sui: Asia Through Western Eyes" (The New York Times)

“The idea of designers with Asian roots being inspired by a Western parody of their countries’ clothes would have been unthinkable a decade ago, but fusion fashion is fast following the food version. Anna Sui’s stylish show reflected her take on the early film visions of China, as seen through Western eyes.”

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