Shoppers or smugglers? China crackdown on ‘daigou’ boom – CNN.com
Financiere Richemont SA (CFR) , owner of tony brands such as Cartier and Piaget, came from China and Hong Kong. A record number of luxury brands approached website Glamour Sales China this year about running flash sales online events held over a few days, said Chief Executive Officer Thibault Villet. The Shanghai-based Frenchman quit as Coachs president for Greater China in 2009 to start the website, which sells off-season products from Fendi, Tods, Dolce & Gabbana , and other luxe brands to its 4million Chinese members. Hidden Events In the past few months, weve signed deals for the first time with brands that didnt work with us for the previous four years, said Villet, who also introduced hidden events this year, restricted to VIP customers and catering to brands that didnt want public sales to tarnish their image.
“I’m a big fan of luxury products and I think daigou is a much easier job than others,” he said. However, Li says the business is unstable. Even though he’s on first-name terms with sales staff in stores like Hermes he can’t get special deals. “It’s Hermes so no-one can get any discount unless you are a super VIP,” he said.
China Fashionistas Get Best Deals on Gucci, Hermes Bling – Yahoo Finance
“If I could do that and holiday for a few days there, why wouldn’t I?” China imposes duties as high as 25 percent on imported products such as leather handbags, dresses, shoes, and watches, depending on their value, according to data from the World Trade Organization. The country also levies consumption taxes of 20 percent on high-end watches and 30 percent for cosmetics. The effect of taxes and a price markup means luxury branded items end up costing 50 percent more in China than in Europe, said Sanford C. Bernstein analyst Mario Ortelli. Last year 67 percent of luxury products purchased by mainland Chinese were acquired outside the country, according to Bain. Sales Contribution Keeping mainland consumers spending is key for makers of luxury brands because China now accounts for a major portion of their sales.
The Best-Selling Luxury Handbag Designers In Each Major City | StyleBlazer
With the dirth of brands fighting for a stake in the space, and the demand for goods overpowering the supply , its interesting to see which luxury handbag brands are keeping up despite the madness. news In a report done by Fashionista in conjunction with online consignment start-up TheRealReal , they identified the top selling handbag designers broken down by city. Their findings do a great job of identifying what brands are trending around the country, and while most of the report is pretty predictable there were a few surprises. Click on the next pages to see which brands reign in cities like New York, San Francisco, Miami and more! 1