shhh ... luxury goods are discounted in china

by:GF bags     2019-09-17
243711368: Before {padding-top:116. 1904761904762%; }
The luxury-goods makers of Ferragamo have always attached importance to Chinese consumers, not just because of their huge interest in Gucci handbags and Cartier watches --
Bain Consulting estimates that China bought the world\'s third-largest luxury goods in 2013 --
And they are willing to pay more than their Western counterparts.
So July a light brown of Salvatore Ferragamo Carla skin pump to 40% of price for sale price for 3,120 yuan ($507)
On the e-Running websiteretailer Xiu.
Lower than the European retail price of the item.
Similarly, in a branch of Kaiyun Gucci in Shanghai, a light pink Soho leather backpack is discounted by 30% to slightly higher than 12,000 yuan, and the price is similar to that of similar products in the United States. S.
Several forces are pushing prices down.
Sales of goods from Europe\'s most prestigious fashion companies in China have been suppressed by the government\'s anti-corruption campaign. giving.
The high import and consumption tax of luxury goods purchased in China has led more and more wealthy locals to shop overseas.
Left a lot of unsold goods in their mainland stores
End brands are turning to things they rarely had to do before: Price-cutting.
\"Even during the financial crisis, I don\'t think we see this kind of discount,\" said Franklin Yao, managing partner in Shanghai --
Headquartered in Smith Street, the company provides advice on its strategy in China.
\"Inventory has become a problem for each brand, which is a big problem.
Bain expects luxury consumption growth in mainland China to slow to 2% of the year after 30% growth in 2011.
Both Christian Dior and Ermenegildo Zegna Group held a sales event in stores in China on July, Milan-
Zegna\'s men\'s, leather goods and shoes are reduced by up to 40%.
Some discounts are more low key as the mansion tries to avoid lowering the brand value and price.
Hermes was invited to cut clothing and shoes by half in April --
According to Chinese media, the only auction was held in the eastern city of Hangzhou.
Four guests were invited by email
According to a report published on the People\'s Daily website, a hotel in the West Lake district of the city sold for an hour and banned photos, the official newspaper of the Communist Party of China.
One of the purposes is to prevent Chinese shoppers like Juan from bringing their wallets to Europe.
During the Milan tour in Julyyear-
An old marketing manager from Shanghai spent 8,000 yuan on a Loewe leather affordable handbags, about half of her time in China.
\"The difference between Europe and the mainland can be paid for one round.
My travel ticket to Paris or Milan, \"explains Hu, who has been collecting luxury bags since she was 23.
\"If I can do this, why don\'t I spend a few days there on vacation?
\"According to data from the World Trade Organization, China imposes tariffs of up to 25% on imported products such as leather handbags, clothing, shoes and watches, depending on their value.
The country also imposed a 20% consumption tax on high consumption
High-grade watches, cosmetics 30%.
The impact of taxes and rising prices means that luxury goods are ultimately 50% more expensive in China than in Europe, says Mr.
Mario Otelli, Bernstein analyst
Bain said 67% of luxury goods purchased in mainland China last year were purchased abroad.
For luxury-brand manufacturers, keeping the consumption of mainland consumers is key, as China now accounts for a large part of their sales.
According to data compiled by Bloomberg, about 30% of Louis Vuitton\'s 2013 revenue comes from Asia, excluding Japan, while Kaiyun\'s luxury sector receives 31% of sales from the region.
Neither company sold in China.
About 2014 of fiscal year\'s quarterly sales came from China and Hong Kong, the company\'s owner of Tony brands such as Cartier and Piaget.
This year, there is a record number of luxury brands close to China\'s website charm sales --
Online events in a few days
Thibault Villet, chief executive, said. The Shanghai-
The French-based Frenchman resigned as the head coach of Greater China in 2009 and started the site.
From Fendi, Todd, dujiabana and other luxury brands, products are sold to 4 million Chinese members.
\"For the first time in the past few months, we have signed agreements with brands that have not worked with us in the last four years,\" said Villet, who also launched a \"hidden event\" this year \", limited to VIP customers and cater to brands that do not want public sales to damage their image.
Discounts have been low in recent rounds.
Personal information, private sales messages are communicated to ordinary customers through popular online messaging applications such as personal emails, mobile phone text messages or Tencent\'s WeChat.
On June, Cartier, a $50,000 watch maker, sent a WeChat message telling some customers that there is a \"premium jewelry exhibition\" in northern China that says \"all Hong Kong prices
Customers can learn more from the sales staff.
A spokeswoman for Hermes said that sales in Hangzhou in April were outside its own store, similar to sales in Paris, the brand in the past few years
Richemont spokesman Alan Grieve said the company would not comment on specific markets, while Ferragamo and Zegna employees were unable to answer questions about sales during the summer vacation.
A spokesman for LVMH, the parent company of Louis Vuitton, the affordable handbags maker, said it did not organize discounted sales.
Kering declined to comment and Dior did not respond to e-mailed queries.
The excess inventory of luxury brands has put pressure on companies to open more discount stores in China than the current number of discount stores --
Milan\'s Armando Branchini says the project of the season
Fang dazini altaganma, vice president of the Italian luxury brands Association.
He said the stores tend to be located in shopping malls far away from the central shopping district, reducing the potential damage to brand reputation. Fashion Hu
The love marketing manager says brands need to limit the frequency of sales to avoid alienating luxury shoppers like her who don\'t want to be associated with cheap goods.
\"If you sell it once or twice a year, it doesn\'t matter,\" she said . \"
\"If you discount a lot, it will damage your status as a luxury brand.
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