What were Chinese consumers looking to buy on Singles’ Day and why was a daigou sent to jail for ten years? These are two of the highlights from Jing Daily’s ‘Chinese Whispers’ column – the acclaimed publication’s compilation of news stories about the luxury industry in China that haven’t yet made it into the English language. Jing Daily* is a content partner of The Moodie Davitt Report.
Chanel was named the most desired luxury brand among Chinese consumers in the run-up to Alibaba’s tenth annual Singles Day sale in China on 11 November, with 28% of survey respondents intending to purchase it, according to a study by the research agency YouGov.
That’s an extraordinarily high percentage which, if (as likely) translated into reality, would have delivered the great French fashion-to-beauty house immense gains. This year Singles Day generated a record US$30.8 billion in sales, up +27% on last year.
Chanel was followed by Dior (21% of respondents intending to purchase), Giorgio Armani and Gucci (both 15%), and Hermès (13%).
The survey was conducted online from 17 to 30 October, using YouGov’s panel of over six million people worldwide.
The column also noted that Italian luxury brand Bottega Veneta, which has 43 retail stores in Mainland China, opened two new boutiques in China’s second-tier cities Changsha and Harbin earlier this month. Both stores will sell the brand’s full line of products from apparel and accessories to bags.
And Chinese Whispers also spotlighted a 10-year jail sentence for tax evasion and smuggling given to a daigou overseas purchasing agent. The agent was found to have evaded over US$430,000 in taxes on imported apparel worth over US$1.43 million.
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*This article was originally published by the much-respected JING DAILY, a Moodie Davitt Report content partner.
