This week continued to focus on China and how brands are doing in this market. According to reports, traffic levels in the market change every few years and, currently, luxury brands are switching up their locations. Government crackdowns on goods for officials and fast-maturing consumers over the past 12 months have changed the Chinese market, causing brands such as Kering, LVMH Moet Hennessy Louis Vuitton and Compagnie Financière Richemont to rethink bricks-and-mortar locations for their brands.
However, it turns out that it’s in brands’ favor that they can even make decisions to hold off in China because some brands are too late to the party, according to reports. Brands that are just now realizing China’s allure could be playing catch-up for some time since getting into the market is becoming harder.
Meanwhile, Victoria Beckham and Missoni both relaunched their websites, allowing for ecommerce and social tools to lead the way. The Victoria Beckham site boasts a “buy” and “look” section, which allows consumers to check out the new collection as well as limited-edition products on one side, and explore the branded world of social media on the other. Meanwhile, Missoni’s new ecommerce site allows consumers to shop men’s, women’s, children’s and beachwear collections as well as view backstage access, advertising campaigns and social media content.
New York International Auto Show is poised to kick off this weekend, bringing in thousands of visitors to the Jacob Javitz Convention Center in New York. Brands including Range Rover, Mercedes-Benz and Jaguar have already teased new products via digital means. Luxury vehicles are taking the front row at the New York Auto Show since recent findings have revealed a huge uptick in the luxury vehicle segment. According to a study from Kelley Blue Book, high-end cars and SUVs have increased 11 percent so far this year.