The Bling Dynasty: Why the Reign of Chinese Luxury Shoppers Has Only Just Begun - Hardcover
The Bling Dynasty: Why the Reign of Chinese Luxury Shoppers Has Only Just Begun - Hardcover
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by Erwan Rambourg (Author)
Why the luxury market's fate rests in Chinese wallets
The media has negatively focused on the Chinese political administration clamping down on gifting. Observers have come to doubt the strength of Chinese consumption as the key driver for luxury. The Bling Dynasty illustrates how doubts about Chinese consumption are ill-founded and Chinese luxury demand is on the cusp of becoming dominant.
This book contains the research and expert views companies need to understand and address the new challenges posed by this dominance. Each chapter brings a different perspective, covering complex aspects of luxury consumption, with illustrations and real-world examples that support the research. Readers will gain insights through interviews with brand executives, retailers, experts, and consumers.
As an economic heavyweight, China is fast realizing its role in the luxury market. Chinese consumers should be accounting for more than a third of the global luxury market today, and half, if not more, in ten year's time. The Bling Dynasty runs counter to the conventional wisdom that expanding sectors become more global. Luxury is actually becoming over-dependent on Chinese sales.
Readers will:
- Understand how Western brands developed in Asia and the challenges they are met with, notably ubiquity
- Learn why Chinese are purchasing luxury items abroad and what it means for the future of the sector
- Gain insights on why there are no Chinese luxury brands challenging Western models
- Realize that Chinese consumers are becoming similar to their American peers and that luxury competition goes way beyond pre-conceptions
China's big spenders are increasingly mobile and this is affecting key markets. The Bling Dynasty provides new research and a comprehensive look at the booming business of luxury and the Chinese wallet.
Front Jacket
WHY THE LUXURY MARKET'S FATE RESTS IN CHINESE WALLETS
The media has negatively focused on the Chinese political administration clamping down on gifting. Observers have come to doubt the strength of Chinese consumption as the key driver for luxury. The Bling Dynasty illustrates how doubts about Chinese consumption are ill-founded and Chinese luxury demand is on the cusp of becoming dominant.
This book contains the research and expert views companies need to understand and address the new challenges posed by this dominance. Each chapter brings a different perspective, covering complex aspects of luxury consumption, with illustrations and real-world examples that support the research. Readers will gain insights through interviews with brand executives, retailers, experts, and consumers.
As an economic heavyweight, China is fast realizing its role in the luxury market. Chinese consumers should be accounting for more than a third of the global luxury market today, and half, if not more, in ten years' time. The Bling Dynasty runs counter to the conventional wisdom that expanding sectors become more global. Luxury is actually becoming over-dependent on Chinese sales.
Readers will:
- Understand how Western brands developed in Asia and the challenges they are met with, notably ubiquity
- Learn why Chinese are purchasing luxury items abroad and what it means for the future of the sector
- Gain insights on why there are no Chinese luxury brands challenging Western models
- Realize that Chinese consumers are becoming similar to their American peers and that luxury competition goes way beyond pre-conceptions
Back Jacket
PRAISE FOR THE BLING DYNASTY
"The Bling Dynasty is an insightful read for luxury managers, consultants and anyone who wants to understand consumption trends and China's role in shaping them."
--Wei Gu, Wall Street Journal editor for China Wealth and Luxury
"Erwan Rambourg knows the luxury goods industry inside out. His on-the-ground work in China yields deep insights into the mindset of the local consumer and a clear analysis of the unparalleled opportunities this market offers to attractive, global brands."
--Claus-Dietrich Lahrs, Chief Executive Officer HUGO BOSS AG
"Through first-hand knowledge and unique facts and anecdotes, The Bling Dynasty provides an in-depth analysis of one of the most important markets for luxury brands, China. Erwan shares his insights with incisive scrutiny and wit, and offers a unique perspective on a sector that is both abundantly discussed yet still filled with misconceptions."
--Ketty Pucci-Sisti Maisonrouge, Luxury Entrepreneur, Adjunct Professor at Columbia Business School, Associate Professor at IE Business School, author of The Luxury Alchemist
"I have been speaking with Erwan Rambourg for years and have benefited considerably from his ideas. Anyone who wants to understand the luxury market must first understand the Chinese consumer. The Bling Dynasty is a must-read for investors, marketers, or anyone who wants a deeper understanding of the future of luxury in China."
--Robert Dunphy, Portfolio Manager, OppenheimerFunds
Author Biography
ERWAN RAMBOURG is a managing director at HSBC in Hong Kong and the co-head of Global Consumer & Retail Equity Research. He has been a top-ranked analyst covering the luxury and sporting goods sectors for the bank for the past ten years. Rambourg joined HSBC in 2005 after working for eight years as a marketing manager in the luxury industry, notably for Richemont and LVMH. He is regularly featured in the Wall Street Journal and the Financial Times and appears on CNBC and Bloomberg. Rambourg grew up in New York and has lived and worked in Paris and London. In 2011, he moved to Hong Kong.
