In 2008, Patti Waldmier of the Financial Times referred to a McKinsey survey that said, "Chinese consumers are becoming more price conscious, less brand-loyal and generally harder to please." Oh, how times have changed. A recent Harris Poll found that, compared to eight other developed and developing countries, Chinese shoppers love shopping the most and are second to India when asked if luxury brands are important. This beats out the US, known for its consumer addiction and endless credit card debt, where only one-third of respondents said they enjoyed shopping. Somehow the Chinese, with an average income of about $4,000, love shopping so much they even managed to become Louis Vuitton's number one customer. Holy crap.
Though you could easily walk down Shanghai's East Nanjing Road or Beijing's Wangfujing district and find any luxury handbag from Chanel to Hermes or brand clothing from Armani to Zara, the Chinese don't stop there. Bloomberg Businessweek reports that more and more Chinese tourists are headed to Europe not only for the thrill of shopping like the rich and famous, but because traveling to Europe for luxury brands is cheaper than buying at home with a Chinese tariff, though this may change soon.
From Business Week: "For mainland visitors, lower prices and bigger selection are the main draw of buying Chanel in Paris vs. Shanghai...Coach handbags, or bao bao in Chinese...costs more than $4,700 in China, while the Hermes Kelly...has a ticket of about $8,800. In Paris, the same bags are priced at $3,900 and $6,500, respectively." It's pretty astounding how quickly the Chinese consumers have latched onto the hypnotizing magic of upscale brands, and the trend seems unremitting. But let's take this news with a grain of salt. The shifu driving you home from the bar is probably not buying his wife a Coach purses for New Year's, nor is a restaurant fuwuyuan spending her weekend shopping at Versace. We believe that these luxury purchases are being made by a minority of Chinese people that can afford to show off their wealth—see 20 year-old brat from last week. Riding on the eve of the CCP's 90th birthday, we wonder if the generation of revolutionaries ever hoped for a day when Italian and French brands paved the streets of Shanghai and where people were willing to spend a third of their income on a purse.
Guests at Serpentine Gallery Summer Party were treated to Burberry Acoustic live sets and a plethora of beautiful people, including Jourdan Dunn, Cara Delevingne, Lily Donaldson, Liberty Ross and one-to-watch Amber Anderson on the evening of July 1st.
It's among the highlights from the London season, therefore it seems fitting that the Serpentine Gallery must have connected with Brit brand Burberry for its annual fundraising Summer Party. The big event was attended by a smorgasbord from the beautiful and glammed, with a full complement of stunning Burberry faces, including models Jourdan Dunn, Cara Delevingne, Liberty Ross and new Burberry face Amber Anderson.
Guests were treated to reside sets from musicians One evening Only, Life in Film, The Crookes and Misty Miller, who've been runaway successes about the Burberry Acoustic YouTube channel. Referring to the association using the Serpentine, Burberry's chief creative officer Christopher Bailey said: "We are proud to be continuing the Burberry good reputation for supporting the humanities. It's particularly exciting to become dealing with the Serpentine Gallery a space symbolic of creativity in a very iconic British location."
Jourdan Dunn whose Burberry summer 2011 campaign shoot with male model Sacha M'Baye was among the brand's big hitters of the season looked stunning in brown satin Burberry, reminding us that they is extremely much back on the scene. We also loved Poppy and Cara Delevingne's boho luxe vibe, Lily Donaldson's semi-sheer little white tea dress, Liberty Ross in electric blue and Amber Anderson's canary yellow dress she's among Burberry's faces for autumn/winter 2011 so without doubt we'll be seeing a much more of Amber within the coming months.
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Our popular Maggie silhouette, updated in butter-soft leather thatss softly pleated for a sophisticated drape. Three separate compartments inside keep you beautifully organized.You wear the coach poppy leather bags is a modern convertible: You can wear on the shoulder or across the body while out and about on workdays as well as weekends. When there isn't the need for the multi-tasking capacity of a tote or the buttoned-up poise if a satchel.The popular, take-everywhere Glam tote in shimmery sateen, updated in lovely warm-weather shades with patent leather trim and expanded capacity.
Signature sateen fabric with metallic fibers Inside zip, cell phone and multifunction pockets Outside zip pocket Zip-top closure, fabric lining Handles with 8 1/2" drop 16 1/4" (L) x 12 1/2" (H) x 4 1/2" (W) $)