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 Global Price tag Research Newspaper


Luxury experience in China and tiawan

A KPMG study

kpmg. com/cn

two | Section or Leaflet name

© 2011 KPMG, a Hk partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Supportive (" KPMG International”), a Swiss enterprise. All legal rights reserved.

Luxurious experiences in China | 1


Introduction Exec summary The luxury experience Digital strategies Making it in a crowded market Owning a robust taxes environment Persuits approaches to get luxury businesses Working with companions and suppliers to protect manufacturer value TNS Research Worldwide China Regarding KPMG Call us

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Case studies Audemars Pernod Ricard Shang Xia Salvatore Ferragamo Glamour Sales Hiersun Bally Patek Philippe Sotheby's Bowers & Wilkins

© 2011 KPMG, a Hong Kong partnership and a part firm from the KPMG network of 3rd party member firms affiliated with KPMG International Cooperative (" KPMG International”), a Swiss entity. Most rights reserved.

2 | Luxury experience in China Section or perhaps Brochure identity

© 2011 KPMG, a Hong Kong partnership and an associate firm of the KPMG network of self-employed member firms affiliated with KPMG International Cooperative (" KPMG International”), a Swiss entity. Every rights appropriated.

Luxury activities in Chinese suppliers | several


China's role in the global luxury market is becoming more significant year by season. Many worldwide brands start to see a recovery in their global sales after three extremely tough years, yet despite this China remains one of the cleverest growth potential customers. Luxury businesses are pursuing very different strategies in line with the scale with their operations, plus the scale of their ambitions. The conventional entry way for intercontinental companies has been through partnerships with neighborhood franchises and distributors. Recently, as the company landscape is becoming more open and transparent, many companies have fully acquired their selling operations in China, at least in the most produced cities such as Shanghai, Beijing and Guangzhou. For some, regional partners are still important in tier-two and tier-three towns where market conditions are less familiar. However some Western brands possess entered these kinds of markets immediately with a totally foreign-owned organization (WFOE) style. A long-held perception of luxury consumers in China is that they are motivated by status seeking and overt presentations of riches. Yet clearly in such a huge and intricate market this really is a huge simplification. In many respects the white back of the shirt professionals and time-pressed professionals in Beijing and Shanghai in china resemble their peers in other major capitals and financial centres just as much as they do the wealthy business owners and business people of second- and third-tier cities. If anything, it can be in these towns that the best share of wealth (and disposable income) lies and it is here that people see usage growing speediest. This year's report is targeted on the go up of experiential luxury and exactly how consumption is being driven by a desire for self-reward as well as status. The record also is exploring the position that the net and digital media can easily play in brand building and considers whether even more domestic China brands may succeed in the luxury sector since tastes modify. Finally, we all draw out some of the tax and customs planning strategies for companies to consider as they increase or develop their strategy in Chinese suppliers. The designs from our study are also extremely strongly validated in our eight case studies, which have a selection of prestigious brands. You want to thank the executives who spent the time to share their particular insights with us.

Nick Debnam Asia Pacific Chair Customer Markets KPMG China

Ellen Jin Partner in Charge Consumer Markets KPMG China

Hélène Beguin Spouse in Charge KPMG's Global Extravagance Group KPMG Europe (LLP)

© 2011 KPMG, a Hong Kong collaboration and a member firm from the KPMG network of impartial member...